EQIFI Raises The Bar in the DeFi Space

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

In recent years, staking has become one of the most common ways to make money in the crypto market. Staking arose out of The need for a more sustainable approach for blockchain networks. With many networks ditching the energy-intensive proof of work model for proof of stake, it has become necessary to stake Cryptocurrencies to secure and validate these platforms.

Staking involves locking your Cryptocurrencies in a wallet or on the platform and earning rewards for it. By keeping your crypto funds locked in the right wallet, you'll be able to function as a validator and perform certain functions on the platform for which you'll earn rewards. Users can also join staking pools made up of multiple coin holders merging their resources to have a better chance of becoming validators and receiving rewards.

Staking is possible on any PoS blockchain, and it has become a fundamental part of the decentralized finance (DeFi) sector. However, with hundreds of DeFi platforms, finding the most suitable one for staking can prove challenging, especially if you're looking outside the already popular ones. But one platform that seems to be defying expectations and ready to take the defi scene by storm is EQIFI. Users can stake EQIFI native token EQX to earn incredible rewards.

What is EQIFI

EQIFI is a first-of-its-kind DeFi platform powered by a licensed and registered financial institution, EQIBANK. Founded in 2015, EQIBANK is a crypto-friendly digital bank serving people from more than 180 countries. Through this relationship, EQIFI can offer a uniform platform for users to access the DeFi services while also getting mainstream banking services. 

EQIFI USPs

This DeFi platform offers several benefits which distinguish it from the existing platforms out there. While DeFi is currently growing, it's still nascent with lots of potential and associated risks. EQIFI addresses these issues in various ways, such as:

• Usability of the Platform

One of the issues that DeFi platforms continue to face is their complex nature. As a result, users struggle to maximize their use of these platforms. But this isn't the case for EQIFI. It's designed to give users the best experience. The symbiotic relationship between EQIFI and EQIBank also bridges the gap between crypto and fiat currency. Thus, it aids the ability of users to secure financial services, whether on Defi or mainstream banking. As the first of its kind with this ability, it sets an example for other platforms and institutions to emulate in future.

• Security

Many people adopt Defi because it eliminates gatekeepers. Every transaction is automated and works based on smart contracts without an intermediary. While this is laudable, it is novel and has security flaws that many people have exploited many times. With EQIFI, users don't have to worry about this issue. It is very secure, and its relationship with a regulated digital bank also offers extra security. 

• Full Decentralization

Even though most DeFi platforms claim to be decentralized, some have partial decentralization with the protocols' governance not fully committed to the users. However, on EQIFI, those holding the EQX tokens control the whole process. Thus, token holders constitute the EQIFI community and are in charge of all governance functions on the platform.

• Transaction Speed 

Decentralized platforms usually take more time to complete transactions than centralized ones. Deribit reports that while centralized exchanges execute orders within 10 milliseconds, it might take up to 1 minute before a decentralized platform will do the same, and the minimum is 15 seconds. This problem is rooted in the low liquidity and limited blockchain interoperability.

However, EQIFI solves this problem by properly incentivizing users to stake. Since staking means adding liquidity to the platform, the promise of up to 20% APY as staking rewards is enough to convince them to stake tokens. Of course, with higher liquidity comes faster transactions.

• Built By Experts

EQIFI is built and managed by a team of fintech experts with more than a century of experience. Since this platform was designed by financial experts who completely understand the traditional financial system, they can structure financial products better and tailor them to meet consumer needs while also meeting the standard practices in the financial sector.

Staking on EQIFI

Users can stake EQX on the platform to earn massive staking rewards. Since the platform is on the Ethereum network, EQX is an ERC-20 token. Supply is capped at 500,000,000 tokens, and staking this token comes with massive rewards of up to 25% APY. What further makes it better is that it's not limited to Ethereum. EQIFI has also extended its products to Tezos blockchain, which is a PoS blockchain. Users will be able to stake and borrow on Tezos blockchain through its EQX native token.

The decision to go with Tezos is premised on its capabilities as a leading PoS blockchain network.  According to the chairman of EQIFI, Jason Blick, offering a product through Tezos only shows EQIFI's commitment to being a leader in the DeFi space by giving Tezos holders the exposure to borrow and stake.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.