Protocol Incentivization: How to Earn EASY Tokens
EasyFi
EasyFi is a protocol that was created with the aim of addressing some of the inherent issues with first-generation Decentralized Finance (DeFi) solutions in terms of cost and transaction speed, which are the major challenges facing DeFi at large.
The EasyFi network is compatible with the Ethereum network and also blockchain agnostic, enabling asset settlements across several chains. It also adopts the Proof-of-Stake consensus mechanism, which is used to protect the network.
Features
- Low-Cost Transactions:
EasyFi is based on layer 2 blockchain solutions, which makes transactions to be easier, faster, and more reliable.
- Liquidity Pool:
EasyFi is built on Matic Network’s layer 2 blockchain, which takes advantage of Plasma Blockchain concepts.
- Yield Farming:
By engaging with the EasyFi network, users would be able to farm its native token “$EASY”. Any user that can interact with the platform through the stipulated means is able to farm EASY tokens.
- Staking:
EASY tokens that have been farmed can be staked and used to farm MATIC tokens.
- EasyFi is designed to address global credit requirements with a sufficient supply of capital. As a result, robust adoption is expected.
- The EasyFi network has a wonderful UI/UX and the gasless transaction makes it all the more amazing. EasyFi will provide users with a frictionless onboarding experience by incorporating gasless meta transactions into its platform, which will be supported by a number of its network’s partner projects.
How to Earn The EASY Tokens
- Governance and Staking Incentives
EasyFi operates on a decentralized autonomous organization (DAO) model, in which network members may use the utility token to communicate their views on any decision, such as stake weighted voting (where the number of staked tokens is determined) and event determination (to gather opinions for any important events from interest rate to collateral terms and so on)
Users of EasyFi will be rewarded for taking part in a variety of events on the website, including staking tokens, lending, borrowing, and voting.
2. Dual Yield Farming
Yield Farming has emerged as one of the most important and favorable innovations of the DeFi revolution. It is an uncommon method of collecting rewards through holding cryptocurrency on permissionless liquid networks. Money markets are the most straightforward way to collect consistent returns on your cryptocurrency. Liquidity pools offer higher returns than money markets, but they come with more market risk.
The governance token’s distribution attracted a vast number of liquidity providers to farm a new token by providing liquidity. The governance token gives governance rights to token holders algorithmically through voting.
The Yield Farming or Liquidity Mining trend has engulfed the DeFi family. Much money is flowing in the DeFi space and users acknowledge the benefits of yield farming and liquidity mining which has prompted excessive migration to DeFi networks.
DeFi has undoubtedly seen exponential success, with ‘Total Value Locked’ exceeding $10 billion in just a few weeks of its inception. However, the concern remains as to if the DeFi protocols are sustainable in the long term.
The positive feedback loop that Liquidity Mining provides is enticing. We’ve now reached a point where it’s a total battle for liquidity, with various subsidies being offered in order to maximize value. Opportunists swing from one DeFi protocol to another, seeking to maximize profits. However, these overextended and inflated subsidies appear to dry up and are not long-term viable. Will liquidity providers show their commitment to the current protocol or move on to search for a better alternative?
As a result, this is why the EasyFi network believes in a phenomenon that has the potential to generate enough subsidized capital productivity that is long-term. The equilibrium found balances and rewards both the supply and borrower sides, maintaining asset availability over time.
EasyFi introduced a variant of yield farming or liquidity mining called “Dual Yield Farming” to help accelerate the adoption of their newly launched lending protocol and attract new liquidity into a layer two blockchain network. It includes EasyFi and various partner projects allocating a portion of EASYFI tokens (EASY) and the partner project’s native token towards incentivization. This was thought would attract community attention and supply to the protocol, allowing for desired liquidity and interaction on a long-term basis.
A higher APY (Annual Percentage Yield) can be obtained in a sustainable manner with dual yield farming. Users tend to benefit more, sustainably since the inflation of the native token is regulated and supplemented by matching emission of rewards of another partner token. Easyfi has followed an open-minded strategy towards a more cooperative & active community, with the end aim of incentivizing users for the long run and winning their trust by innovating yield farming structure and joining forces with other quality projects.
Breakdown of the Distribution
For distribution, 1,250,000 EASY would be locked into a reservoir contract. The distribution is allocated to each market and is proportional to the daily interest generated for available markets.
In each market, lenders and borrowers gain 50% of the distribution; in real-time, users earn EASY in proportion to their balance; this is different from the market’s normal interest rates.
When an address earns 0.001 EASY, every EasyFi transaction (such as delivering an asset or transferring an eToken) will automatically send EASY to their wallet. For smaller balances, an address can manually collect every EASY earned.
Get Connected with the EasyFi project using the Links below:
