EQUIFI, a regulated and licensed DeFi lending platform has announced new products and services for the Tezos blockchain ecosystem, offering users the ability to stake and borrow using the latter’s native XTZ token.
According to a recent announcement, DeFi lending platform EQUIFI will be offering staking and borrowing services in Tezos (XTZ). There is no minimum locking period and staking positions can be exited at any time.
EQUIFI Chairman Jason Blick opines that the new arrangement will place the platform at the top of the industry.
“A product offering with an industry leader such as Tezos signifies the bar EQIFI is setting. Providing exposure to XTZ holders for staking & borrowing is just the next step in positioning EQIFI to become an industry leader.”
Powered by one of the world’s largest regulated digital banks, EQIBank, the EQUIFI DeFi platform operates under a community-focused decentralized standard through its native EQX token, allowing members to make crucial decisions involving the project.
Tezos claims to be the original layer-one, proof-of-stake smart-contract compatible blockchain network. Since its launch in 2017, the blockchain network has upgraded over 7 times, logging millions of transactions from Defi, NFTs, and DAOs.
Tezos has been expanding its XTZ token with numerous partnerships. Earlier last week, the blockchain network was chosen to create on-chain products for three Swiss banks, including Crypto Finance Group, InCore Bank, and Inacta. Similar to EQUIFI, InCore has also launched staking, trading, and storage services for Tezos.
Earlier last month, BTCS Inc. a blockchain technology-focused company also announced it has added Tezos to its blockchain infrastructure operations.
Tezos's proof-of-stake design is intended to operate in an energy-efficient way. Using two million times less energy than popular proof-of-work networks, making it an ideal platform for creating energy-efficient blockchain applications.