The runaway success of Binance Smart Chain has helped propel the exchange’s utility token to the top of the crypto market top ten, and has attracted some of the industry’s top projects to the chain already.
The latest project to expand to Binance Smart Chain is leading DeFi protocol EasyFi. Here’s how this latest move by EasyFi Protocol will benefit crypto investors, the project, and the ecosystem itself.
Although Ethereum remains the most dominant foundational blockchain layer in the crypto market today, like any emerging technology there are challenges and limitations that developers are rushing to address.
While Ethereum introduces scalability upgrades, DeFi applications, tokens, and stablecoins have begun to expand to additional chains, such as Polygon, or the ultra-hot Binance Smart Chain.
The latest project to expand to Binance Smart Chain, is EasyFi Protocol and the $EASY token. EasyFi Network is a universal second-layer lending protocol currently shaking up the DeFi space. The integration was done to create new opportunities with the DeFi sector, and enable faster, more efficient transactions. The added interoperability will benefit the ecosystem and investors alike.
EasyFi Protocol’s $EASY token will now be available as an ERC20 token, as well as a BEP20 token on three different chains: Ethereum, Polygon, and now Binance Smart Chain. All of the products and services offered by EasyFi’s Protocol V1 powered by Polygon Network on Ethereum, will also be available on the Binance Smart Chain integration.
In addition to all of the speed and scalability benefits, EasyFi and $EASY will now have access to the Binance community for greater reach and engagement, and be part of the growing list of Binance digital assets.
Binance Smart Chain assets will be integrated into EasyFi as collateral, further enhancing lending markets. New money markets will also be introduced, such as tokenized stocks, metals and other commodities, and much more.
Binance Smart Chain is the ideal fit for EasyFi’s ‘do more with DeFi’ mantra. Integrating within other chains was a primary part of EasyFi’s Q1 2021 roadmap. The first quarter roadmap also includes a refreshed EasyFi UI and UX, and multiple wallet integration for greater versatility for decentralized finance users.
To learn more about $EASY and EasyFi Protocol, check out the whitepaper. And for more info on Binance Smart Chain, check out the official primer on Binance Academy.
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