Native integration to enable smooth transition for Coinbase wallet users to L2 Lending experience
GURGAON, INDIA / ACCESSWIRE / November 25, 2021 / Easyfi Network, the universal Layer 2 DeFi lending protocol for digital assets has announced the integration of Coinbase Wallet to the EasyFi App with effect from 24 Nov 2021. Users of Coinbase wallet can now connect their wallets and access funds directly from the EasyFi App on Polygon Network for lending, farming and staking activities.
Coinbase is widely used by first-time users across the crypto space in certain geographies. This integration with Coinbase Wallet aims to ease the transition for these first-time crypto users and graduate them to their first layer 2 DeFi & lending experience on the EasyFi protocol.
EasyFi also offers integration with MetaMask currently and is working on integrating more wallets in this quarter.
Speaking on this integration, Ankitt Gaur, Founder & CEO, EasyFi Network said, "This integration with Coinbase wallet is aimed at easing entry-barriers for participation in DeFi, particularly in lending, for new users. We believe that Coinbase wallet users will get to explore various yield generating opportunities on EasyFi. We are dedicated towards making DeFi more inclusive and easier-to-use and this integration is a step towards that vision."
EasyFi Lending protocol is currently open to user deposits of the following major crypto-assets - MATIC, WETH, WBTC, USDC, USDT, & DAI on the app on Polygon Network to generate yield and for borrowing of corresponding assets. Coinbase Wallet also supports Polygon network on their mobile app as well as their browser extension.
This integration of the Coinbase native wallet with the EasyFi protocol will:
- Allow faster and cheaper transactions for millions of users on the wallet
- Provide easier access to their funds on a widely used scaling layer 2 solution - Polygon
- Enable new users from Coinbase to earn a yield of the supply of digital assets and experience passive income
Adding further, Ankitt Gaur, Founder & CEO, EasyFi Network said, "We want to enable the millions of users on Coinbase Wallet to engage and explore lending, farming and staking on the EasyFi protocol. In the coming weeks, we'll continue to take steps to make it easier for users to access and interact with a variety of wallets that support Layer 2 Polygon network both on mobile and web. We are also seeking to expand the number of strategies and support new deposit assets and wallets on the protocol.
Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency. Their mission is to create an open financial system for the world and to be the leading global brand for helping people convert digital currency into and out of their local currency.
Easyfi is a universal layer 2 lending protocol built for defi focused on scalability, composability, and adoption. It has been designed as an open and inclusive financial network infrastructure to run on public networks to facilitate an end-to-end lending & borrowing of digital assets and related financial products. Easyfi is being built upon the ethos of permission less networks & automation of smart contracts.
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SOURCE: Easyfi Network