Tezos Launches Staking Feature With DeFi!

Highlights:

  • Tezos is an open-source network that eliminates key barriers and obstacles faced by major blockchain networks such as Ethereum.
  • EQUIFI is a decentralized finance protocol that aims to become one of the finest networks in the ecosystem.
  • The Tezos network and EQUIFI have established a partnership in order to advance the functioning of the Tezos blockchain.

What did Tezos and EQUIFI announce?

The Tezos network has announced its partnership with a leading DeFi network to establish lending and yield services on its blockchain platform. Thus, this partnership has been established primarily to improve the features of the Tezos network.

In other words, users and token holders will now be able to stake and borrow the Tezos token on the official platform itself. They will earn yields from the act of staking and they can place leveraged bets with the borrowed tokens, if any. The customers can withdraw their tokens from the pool at any point of time as there is no minimum lock-in period. Thus, the interests on the staked coins will be calculated on a daily basis as per the current market price of the XTZ token.

The rate of yield has not been revealed by either party as the partnership has yet to work on the project. Once the project is completed, it is believed that the XTZ token will receive huge popularity which will lead to an appreciation of the asset. Existing token holders can benefit from this as well as the new staking and borrowing features to maximize their profits and interests. However, borrowed tokens will also be charged on a timely basis and failure to pay will result in a penalty.

The Tezos network has taken various steps to improve its functioning and partnering with various platforms in pursuit of this interest. Developed in 2017, tezos is a proof-of-stake smart contract compatible blockchain network. Since its inception, the network has upgraded seven times to better its performance and service to clients. Due to the platform’s strive of being better, it has recorded millions of transactions through DeFi and DAO for three years.

tezos equifi
Source: Cryptoknowmics

What is Tezos?

Tezos is an open-source network that eliminates key barriers and obstacles faced by major blockchain networks such as Ethereum. As mentioned, it is a protocol designed to provide safety and security to other blockchain networks from hacking and viruses.

The network is wholly operated by a group of developers and decisions regarding its governance lies in their hands. The developers can give their opinions, decisions, votes and speeches on important topics relating to the network’s functioning.

Tezos is also a proof-of-stake protocol and does not imitate Bitcoin or Ethereum’s proof-of-work technique. As a result, the Tezos network consumes less energy and costs less for operators.

tezos
Source: leewayhertz

What is EQUIFI?

EQUIFI is a community powered decentralized finance platform. It strives to be the global leader in the DeFi ecosystem and is building various partnerships just like with Tezos to do so. It is chasing to be a global leader as it is backed by a digital bank. EQUIFI makes all products available to each person instead of the politically privileged. The company has a 15+ years track record in the ecosystem with more than a thousand public transactions.