One of the popular Twitter analysts, Rookie (@altcoinrookie) turned his eyes to an altcoin project that he follows closely. Analyst with 283,000 followers draws attention to the partnerships of EQIFI (EQX), which facilitates the trading of various asset classes. Let’s take a look at the details of the altcoin project and recent price movements.
What is EQIFI (EQX)?
With EQIFI, traders, investors, developers, exchanges and app users can borrow against multiple types of assets without selling, across the entire digital asset, blockchain and cryptocurrency ecosystem. Thus, applications can borrow assets for use in the Ethereum ecosystem without waiting for an order to close or requiring off-chain activity. Similarly, speculators can apply various trading techniques, including shorting, to maximize their opportunities, while miners can borrow against a comprehensive selection of collateral. Apart from these, the Eqifi platform has 4 main products.
- Fixed price products: They are pooled loans at a fixed interest rate calculated on a specific future date. The user provides collateral in the form of ETH, wBTC, stablecoins and certain fiat currencies that are converted into stablecoins and pools to which fixed rates are added.
- Variable rate products: EQIFi has algorithmic borrowing rates, which makes the market more vibrant and automatically responds to changes in the network based on user activity and demand, thus increasing borrowing levels from the token pool.
- Interest rate swaps: A DeFi forward contract in which one stream of future interest payments is exchanged for another based on a specified principal amount.
- Yield aggregator: The EQIFi Yield Aggregator is an automated aggregator of all leading external crop growing products, making farming income simple and automated.
Vitalik Buterin posted a series of tweets addressing his previous predictions and Bitcoin Cash. Details Cryptocoin. com
Altcoin EQX started the new year with 2x
As EQX enters the new year with 100% performance, the partnership of the project with the HUMAN Protocol, which provides machine-human collaboration, has been announced. According to Rookie, the altcoin project continues to forge strong partnerships in the market. At the time of writing, the EQX is cooling its 100% boom with a 40% correction, trading at $0.4105 with a market cap of $30 million.