Tezos, a blockchain platform for decentralized governance, intends to launch a project for yield and lending products in association with EQIFI (a well-known DeFi platform), which will provide support regarding the blockchain ecosystem of Tezos.
The reason behind EQIFI’s selection of Tezos
As per a press release, EQIFI is favoring Tezos as it provides a time-tested governance on-chain, its consensus mechanism for proof-of-stake, and its network of innovators and developers. EQIFI considers that this collaboration will strengthen them to be an initial unified global bridge leading to DeFi. The platform will provide its customers with services related to borrowing and staking. Jason Blick, the chairman of EQIFI, is confident that the project will assist in placing EQIFI atop the whole industry.
He added that the opportunity for collaborating with a leading company of the industry like Tezos indicates that EQIFI is setting an example in the field of decentralized finance. The further move, he elaborated, will be to offer the borrowing and staking to the Tezos holders that would pave the firm’s way towards becoming a leader in the industry. At the back of EQIFI, the funding power is EQIBank (which is considered to be among the noticeable regulated and licensed banks across the globe). The EQIFI platform is governed decentrally by those who officially possess its Staking-Token known as EQX token.
Tezos is categorized as a well-known blockchain that is operated on layer one. It is among the earliest such blockchains which are compatible with the smart contracts dealing with proof-of-stakes. Many million transactions have been logged in to Tezos up till now, and it does deliver significant support regarding every relevant thing ranging from the general products such as NFTs to the specific and technical products and services like DAOs as well as DeFi. The platform also offers numerous applications.
Tokenizing via Tezos
A continuous expansion has been witnessed in Tezos’ provision of access to its network and token as it carries out just one collaboration at a specific time rather than poorly handling simultaneous projects. Only a week back, blockchain was selected by three Swiss banks named Inacta, InCore Bank, and Crypto Finance. InCore, especially, had guaranteed to release storage services, trading, and staking for Tezos as done by EQIFI. Following that, an increase of 15% has been seen in XTZ’s (Tezos token) price.