On the Tezos mainnet, decentralized lending services TezFin (Tezos Finance) and Yupana.Finance both debut. With the recent introduction of Kord.Fi (a lending system for liquidity banking), Tezos has moved from zero to three lending solutions in less than a month.
Yupana is been deployed on the Tezos mainnet after being thoroughly piloted by Madfish engineers with the support of the community. Utilizing the decentralized money market mechanisms, anybody may now engage with the financing covenant’s resources within the Tezos universe.
Utilizing Yupana, lenders supply liquidity and earn passive income, whilst borrowers assume secured loans. In effect, liquidators are encouraged to terminate inadequate collateral holdings in order to maintain the platform.
“We have worked diligently to implement a comprehensive liquidity model, and I believe that users will benefit from a new degree of satisfaction within the Tezos DeFi network, which is now complete and thorough.”
– Sophia Gorban, the Yupana.Finance product owner
Yupana accommodates assets such as TEZ, cTEZ, kUSD, tzBTC, uUSD, and uBTC. The APY will be decided by the associated asset class market requirements. Studying Yupana.Finance delivers an expertise comparable to Aave or Compound with a comfortable user interface for advanced users.
TezFin (Tezos Finance) was deployed on the Tezos mainnet at 12 a.m. on August 16. TezFin is a decentralized lending solution where users may both lend and borrow crypto tokens.
This implies that you do not require an intermediate to facilitate lending or borrowing. In this instance, the smart contracts distributed on the blockchain serve the role of the third party. By contributing tokens, you may accrue interest on tokens you already own. The proportion you may earn fluctuates all through the course of the loan tenure. It is contingent upon supply and demand.
If you borrow cryptos, you will be required to pay interest. You can only loan, provided you furnish collateral. The collateral value has to stay above a certain threshold, if not, liquidation will start happening.
Before obtaining a loan, it is essential that users thoroughly comprehend the dangers. TezFin provides further information on this subject. In order to benefit from price rises of both tokens, staking opportunities of the loaned token, or to use/trade with rest of the DeFi apps, users take tokens on loan.
XTZ, USDtz, ETHtz, and BTCtz are the initial tokens to be featured on the site. The TezFin team has stated that the following cryptocurrencies will be supported in the months ahead: CTez, WTZ, oXTZ, tzBTC, EURL, USDT, and SIRS.
The community has validated TezFin on testnet, however it has not yet been audited.
“We must highlight that while this constitutes a key breakthrough, the code is still in its infancy and has not undergone a thorough audit. Kindly avoid investing more money than you are willing to lose. The first phase of each new code release is the most dangerous.”
