EasyFi (EASY) defines itself as a second layer lending protocol. Built with a focus on the DeFi ecosystem, it is founded on scalability, usability, and mainstream adoption. Developed with open-source code to work on general blockchain networks, EasyFi allows developers to create their applications on the network. This DeFi protocol offers capabilities such as trading digital assets and provides the opportunity to lend and borrow against collateral, as well as facilitating cross-chain transfers.
EasyFi uses the Proof-of-Stake (PoS) consensus mechanism, which is the system Ethereum is aiming to transition to. Its cross-network trading service greatly simplifies processes such as lending and borrowing. Investors can lend or borrow only through EASY Coin across different networks. The network’s protection with the PoS mechanism indicates a democratic governance. In PoS consensus mechanisms, investors have voting rights proportional to the coins they invest in the platform.
EasyFi Coin is the native cryptocurrency of this project. Although other cryptocurrencies are produced on the network, the foundation of the project is primarily built on EasyFi Coin. EasyFi, with a total market value of 30 million dollars, has reached a volume of 21 million dollars in the last 24 hours. The circulating supply of EasyFi Coin is 1,735,409 units, and its maximum supply is 10,000,000 units.
At the time of writing this article, EASY is trading at $17.73. Its fully diluted total market value is estimated to be 177 million dollars. The all-time high of EASY Coin was $26 on February 19th. The lowest level was around $1, seen approximately 4 months ago.
One of the reasons for EASY Coin’s record-breaking price was its listing by Binance. EASY Coin can be purchased under the Innovation Zone category on Binance, the world’s largest cryptocurrency exchange. Bitcoin or Ethereum trading pairs can be used to purchase EASY. It is stated that the EASY/BTC pair, which constitutes 61% of the transactions, has the highest volume. The Innovation Zone on Binance is known to be created for newly launched and relatively risky cryptocurrencies.