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EasyFi & JetSwap team up to enable multi-chain liquidity for Margin Trading on Electric

EasyFi Network — Mon, 24 Apr 2023 13:57:44 GMT

Collaboration will add new sources of liquidity on the platform for margin on DEXs

EasyFi Network is partnering with JetSwap, a leading DEX on Binance Smart Chain, to enable multi-chain liquidity for margin traders on Electric — EasyFi’s product for margin trading on DEXs.

We believe this partnership between JetSwap and EasyFi is a significant development for the DeFi space as it brings together two innovative platforms that offer unique features and benefits to the users on BSC.

Key Collaboration Advantages

Integration of JetSwap DEX onto EasyFi Electric will enable Electric users access to a new liquidity pools and wider range of trading pairs
JetSwap liquidity providers will benefit from increased exposure to the EasyFi Electric user base, resulting in increased demand for liquidity & larger trading volumes resulting in generation of revenue via trading fees
This integration will add margin trading functionalities into JetSwap allowing JetSwap users to trade with leverage and potentially increase the profits.
EasyFi Electric’s margin trading engine is designed to be fast and efficient, making it ideal for the high-speed trading environment of JetSwap

The partnership between JetSwap and EasyFi Electric will offer DeFi users a more comprehensive and seamless margin trading experience fulfilling the demand side of the DEX which has been a long standing need for sometime now.

We believe, as the DeFi space continues to evolve, partnerships like this will play an increasingly important role in shaping the future of decentralized finance, demand creation and a win-win for the DeFi users in general.

Leadership Speak

Speaking on this partnership, Anshul Dhir, Co-Founder & COO, EasyFi Network said,

“We are excited to partner with JetSwap and integrate our decentralized margin trading product with their DEX. This partnership allows us to expand our user bases and offer our users access to JetSwap’s extensive liquidity pools. We look forward to working with JetSwap and exploring new opportunities for collaboration in the DeFi space.”

Jet Swap Quote

“Our collaboration with EasyFi unites two innovative platforms, providing a seamless and comprehensive margin trading experience for BSC users. This partnership not only extends our reach but also enhances the capabilities we offer to our community. We’re thrilled to drive growth and unlock new opportunities together, ultimately benefiting the entire DeFi ecosystem and its participants.”

About JetSwap

Jetfuel Finance is a fair-launch deflationary yield farming ecosystem on Binance Smart Chain. It is an all in one DeFi protocol with products such as yield optimization at Jetfuel.Finance, credit/lending at Fortress, transactional tax/auto liquidity/passive yield token GFORCE, Automated Market Maker called Jetswap as well as a staking platform in an all-in-one DeFi ecosystem.

Website | Twitter | Telegram | Blog | Announcements

About EasyFi Electric

Electric is a decentralized, scalable, secure, margin trading platform, from EasyFi, that enables traders to take out short-term loans to trade margin positions from publicly sourced liquidity from different AMMs / decentralized exchanges.

Litepaper | Testnet Link | Guide to Trading

About EasyFi

EasyFi Network is a universal layer-2 multi-chain money market protocol for digital assets with focus on liquidity sourcing & capital efficiency for structured lending in a non-custodial manner. The Protocol is currently live on Polygon, Binance Smart Chain, Ethereum & Avalanche.

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To learn more about $EZ and EasyFi, please go through our whitepaper and other articles on this publication. Stay tuned for more news & updates on our Telegram channel and join the official group. You can also follow us on Twitter.

EasyFi & JetSwap team up to enable multi-chain liquidity for Margin Trading on Electric was originally published in EasyFi Network on Medium, where people are continuing the conversation by highlighting and responding to this story.

EasyFi partners with KyberSwap for Electric

EasyFi Network — Tue, 28 Feb 2023 12:26:38 GMT

Collaboration will enable Margin Trading with access to deep liquidity on the DEX & Aggregator

EasyFi is thrilled to announce a strategic partnership with KyberSwap to enable access to deep liquidity for Margin Trades on Electric and provide seamless margin trading experience to DeFi users.

KyberSwap is the flagship product of Kyber Network, a multi-chain crypto trading and liquidity hub that connects liquidity from different sources to enable trades at the best rates. Deployed on 14 Chains, KyberSwap aggregates liquidity from over 80 DEXs to give users the best rates possible for their swaps.

With an all-time trading volume of over $16 Billion and a TVL of over $122 Million, this collaboration has the potential to open up new opportunities for advanced traders and increase the efficiency of the DeFi ecosystem.

DeFi users are always seeking new opportunities to make the most of their token holdings. We believe that our collaboration with the multi-chain DEX and aggregator will open up large volumes of locked capital and infuse large amounts of liquidity for margin trading on Electric.

This collaboration will add value to both — the margin traders as well as liquidity providers — by enabling long or short positions on any token pairs on decentralized exchanges and maximizing their returns on their trades and holdings.

Collaboration Highlights

EasyFi will connect Electric with KyberSwap DEX to facilitate margin trades with integrated liquidity on the DEX & aggregator.
EasyFi and KyberSwap are both pursuing a mission of promoting protocol interoperability across chains and improving adoption across the DeFi landscape.
Both companies are working towards creating better money market options that enable high capital efficiency and drive processes that free locked capital and puts it into better use.
We are constantly developing innovative products that tap into bigger opportunities for the DeFi user providing best rates and maximize returns for everyone.

Leadership Speak

Speaking on this partnership, Anshul Dhir, Co-Founder & COO, EasyFi Network said, “We are stoked to have KyberSwap on the EasyFi’s Electric journey. This collaboration comes at an opportune time as we race towards our mainnet on 3 different chains. With access to huge liquidity at KyberSwap, we believe this collaboration will enhance the margin trading opportunities on our product and provide the best market options to our users. We look forward to a long term partnership with Team Kyber.”

Team KyberSwap also commented on this occasion, “KyberSwap is thrilled to partner with EasyFi Network, one of the leading DeFi lending platforms in the ecosystem. We believe that our collaboration will empower users with access to the best possible rates and liquidity for their transactions. We look forward to a successful partnership and driving adoption of DeFi in the broader community.”

About KyberSwap

Kyber Network is building a world to make DeFi accessible, safe and rewarding for users. Our flagship product, KyberSwap, is a next-gen DEX aggregator providing the best rates for traders and maximizing returns for liquidity providers in DeFi.

For liquidity providers, KyberSwap has a suite of capital efficient protocols designed to optimize rewards. KyberSwap Classic’s protocol is DeFi’s first market maker protocol that dynamically adjusts LP fees based on market conditions, while KyberSwap Elastic is a tick-based AMM with concentrated liquidity, customizable fee tiers, reinvestment curve and other advanced features specially designed to give LPs the flexibility and tools to take your earning strategy to the next level without compromising on security.

KyberSwap powers 100+ integrated projects and has facilitated over US$15 billion worth of transactions for thousands of users since its inception.

Currently deployed on 14 chains, including Ethereum, Ethereum Proof-of-Work, Polygon, BNB, Avalanche, Fantom, Cronos, Arbitrum, BitTorrent, Velas, Aurora, Oasis, Optimism and Solana, KyberSwap aggregates liquidity from over 80 DEXs to give users the best rates possible for their swaps.

About EasyFi Electric

Litepaper | Testnet Link | Guide to Trading

About EasyFi

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EasyFi partners with KyberSwap for Electric was originally published in EasyFi Network on Medium, where people are continuing the conversation by highlighting and responding to this story.

Understanding Margin Trading on Electric

EasyFi Network — Wed, 15 Feb 2023 09:09:45 GMT

Part 1 — Components in the Margin Trading process

Consider this a refresher in your journey of conducting margin trades on EasyFi Electric — our product for margin trades on DEXs.

After over 30000 transactions and almost USD $2 Million in volumes on the testnet version on 3 chains — Polygon, Avalanche and Binance Smart Chain — we wanted to revisit the different components and methodologies that will be used on Electric to make your trading experience better.

Our testnet is currently live on the 3 chains, in case you have not tested yet or want to start a new round of testing, please get started here: https://app.easyfi.network/#/electricn

Margin Trading Personas on EasyFi

There are 4 different personas that you will encounter in the entire margin trading process on EasyFi. It is important to know these so there is clarity on how the asset flow happens from and out of the application.

Lenders: Those who offer their assets for trading and earn an interest on it. These lenders deposit their tokens in an asset pool that is utilized as funds that the traders can use for their leverage.
Traders: Those who borrow funds from the assets pools provided and conduct leveraged trades on different trading pairs on DEXs. Anyone can connect their wallet to the application and start the margin trading process. Each trader is essentially a lender as well, because they have to deposit a collateral before they can even ask for leverage on it.
DEXes: The asset exchange on which trades are done. Each trader uses the available funds to basically find a relevant pair on the various DEXs connected to EasyFi’s application.
Electric — The application on EasyFi that brings all of the above together in a seamless interaction of assets on the 3 blockchains and post-trade calculations of the monies that have to be distributed to the various personas — profits, interests, trading fees etc.

Components on Electric

Deposits

Users deposit assets on different pools created on Electric.
The deposit acts as a collateral and enables anyone to ask for leverage on their deposits and conduct their trades.

The deposit feature allows any user to also be a lender and earn interest on their deposits as well.
This corresponds to the Liquidity column on the Electric module as shown here.

xUSDC is a test token

Borrowing

Users can borrow funds to trade with leverage by depositing collateral in the form of supported digital assets.
The platform calculates the borrowing limit based on the value of the collateral and the lending rate.
This is an example of Uncollateralized Lending — lending of higher amounts of assets than the deposits.

Trading

Users can then use the borrowed funds to trade and amplify their returns on the platform.
The platform supports multiple trading pairs, and users can execute their trades directly from the platform’s interface.

Debt, Interest & Profits

Interest Bearing Tokens

This is akin to a liquidity pool token received on deposit to lending asset pool on Electric.
Those who deposit tokens in lending asset pools will be given this token as a receipt to ascertain the lending yield to be shared with them
Interest generated on Electric will be apportioned as per the interest bearing token held
This will also allow the Token projects to incentivize their communities to provide liquidity into the lending pools on Electric and support margin trading for their token pairs on DEXs.
Projects can integrate with the Electric to facilitate leverage trading on specific trading pairs by integrating this token.

Interest Payment

Users are charged interest on the borrowed funds, which is paid back to the lender once the position is closed and the asset is withdrawn from the pool.
The interest rate is determined by the supply and demand for funds on the platform.

Repaying the loan

Users can repay the borrowed funds and interest at any time by transferring them back to the platform.
Upon repayment, the user’s collateral is released, and their position is closed.
This happens when the user withdraws the collateral deposited.
Once a user withdraws the amount deposited, the system calculates the profit or loss and transfers it to the user’s address & the interest on the loan taken and allocates the interest as per the depository of the liquidity provider.
The interest payout is calculated based on the interest bearing tokens (LP tokens) that the user owns.

How the Funds Move

The following is the depiction of how the funds flow in the Electric ecosystem.

Lenders get Lending Yield in the form of Interest on their deposits to the lending pool, in proportion to the Interest bearing token (LP Tokens) held
DEXs get the trading fee generated on the usage of their platform for the purpose of margin trades
Electric generates revenue on the Transaction fees when margin trade transactions are done on the platform
Traders make the bulk of profit or loss based on their positions on DEXs

We hope this will help explain some part of how EasyFi Electric will function. There is more to it and we will be working this out one by one for you.

About EasyFi

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Understanding Margin Trading on Electric was originally published in EasyFi Network on Medium, where people are continuing the conversation by highlighting and responding to this story.

Artificial Intelligence (AI) & Decentralized Finance (DeFi): A Match Made in Heaven

EasyFi Network — Thu, 09 Feb 2023 14:01:17 GMT

Decentralized finance (DeFi) has emerged as a new frontier in the world of finance, offering a range of financial services that are decentralized, transparent, and accessible to anyone with an internet connection. Artificial Intelligence (AI) has the potential to play a crucial role in the growth and evolution of the DeFi ecosystem, providing new solutions to some of its biggest challenges and improving the overall user experience.

DeFi has grown at an incredible pace in recent years, attracting billions of dollars in investments and providing users with new and innovative financial products and services.

However, as the DeFi ecosystem continues to evolve and grow, it is facing new challenges, such as increased competition, security risks, and the need for more efficient and user-friendly solutions. This is where AI comes in.

AI has the potential to revolutionize the DeFi ecosystem in a number of ways, including:

Predictive Analytics: AI algorithms can be used to analyze large amounts of financial data to make predictions about future market trends. This can be helpful for decentralized exchanges, lending platforms, and other DeFi applications that need to make informed decisions based on market conditions.
Risk Management: DeFi protocols are vulnerable to various types of risks, such as flash loan attacks, rug pulls, and market manipulation. AI can be used to monitor the DeFi ecosystem and identify potential risks in real-time, allowing DeFi protocols to take proactive measures to mitigate these risks.
Automated Trading: AI algorithms can be used to automate trading processes and execute trades on decentralized exchanges, helping traders make better investment decisions and increasing the efficiency of the overall trading process.
Compliance: DeFi protocols must adhere to various regulations, such as anti-money laundering (AML) and know your customer (KYC) regulations. AI can be used to automate compliance checks and improve the overall accuracy and efficiency of the compliance process.
Portfolio Management: AI can be used to provide personalized investment recommendations and automate portfolio management for DeFi users. This can help users maximize returns and minimize risks, improving the overall user experience.
Personalized Advice: The platform’s AI system considers factors such as an individual’s risk tolerance, investment goals, and historical performance to make personalized recommendations, helping users to maximize returns and minimize risks.

Conclusion

In conclusion, AI has the potential to revolutionize the DeFi ecosystem by improving efficiency, security, and accessibility. Whether it’s through predictive analytics, risk management, automated trading, compliance, or portfolio management, AI has the potential to transform the way we think about finance. As the DeFi ecosystem continues to grow and evolve, it will be interesting to see how AI continues to shape and influence this exciting new space.

About EasyFi

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Artificial Intelligence (AI) & Decentralized Finance (DeFi): A Match Made in Heaven was originally published in EasyFi Network on Medium, where people are continuing the conversation by highlighting and responding to this story.

Multi-Option Fixed APR Staking on BLEND with Rigel Protocol

EasyFi Network — Fri, 13 Jan 2023 14:20:32 GMT

Up to 195% in 4 Fixed APR Yield Programs running simultaneously on BSC

Yet another Multi-option Fixed APR staking program has been outlined for the month of January 2023.

This time we are coming up with 4 High Yield with Rigel Protocol on EasyFi Blend on Binance Smart Chain.

These Stake RGP — Get RGP programs will feature Fixed APRs as high has 195%

The objective is simple — We would love Blend to provide :

A regular yield option for multiple different projects.
Multiple options for the token holders at the same time
Create a range of staking durations simultaneously instead of only one long duration one
Better APR options for shorter periods of time

RGP Program Summary

The details of the programs are given below.

Calculating Staking Rewards

You can predict the rewards based on your deposits.
Use this blog to calculate final rewards at the end of the staking duration: https://bit.ly/Calculating-Blend-Yield

Some Blend Fixed APR Staking Data: Blend Program Stats

Founders Speak

“Building on our successful partnership with EasyFi, we’re excited to announce the launch of the next set of Fixed APR programs with RGP on Blend, a multi-staking pool designed to provide value and mitigate risks for our users and community members. This is just one of the ways we’re working together to align our products for the next bullish market cycle.”

- Akhat Grant , Co-Founder, Rigel Protocol

“We are glad to extend our new EasyFi Blend Multi-Option Fixed APR staking programs with Rigel Protocol. The new model maximizes yields for Token holders at various Fixed APRs. This simultaneous staking model will provide users with extensive more passive yield opportunities for many projects that we will bring to the product. We welcome the Rigel protocol community to Blend once again and hope they will find this new fixed yield model exciting.”

- Anshul Dhir, C0-Founder & COO, EasyFi Network

About Rigel Protocol

Rigel Protocol is the blockchain Decentralized protocol for all Defi needs. A protocol built to improve and touch up existing Decentralized Finance (DeFi) features while introducing several innovative DeFi products to propel scalability, security in the Blockchain, user experience and adoption. Rigel Protocol is focused on building Dapps with the best user experience at low fees. Several DeFi products featured are smartswap operations, automated dexes trading, Liquidity mining, Launchpad & Product Token offering services, Influencers & New projects rewarding systems and other innovative features.

Website | Telegram | Twitter | Medium

About EasyFi Blend

EasyFi’s Blend is a set of multichain configurable advanced smart contracts that enable a user to earn fixed & predictable rewards on staking a token. The product enables ANY DeFi project to configure a fixed & predictable rewards staking program for their native tokens. EasyFi Blend aims to provide DeFi users a passive incentivization opportunities platform that helps them get more from their stakes with a Fixed APR.

About EasyFi

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Multi-Option Fixed APR Staking on BLEND with Rigel Protocol was originally published in EasyFi Network on Medium, where people are continuing the conversation by highlighting and responding to this story.

EasyFi launches Multi-Option Staking on BLEND with GamyFi

EasyFi Network — Tue, 03 Jan 2023 13:11:57 GMT

4 Multiple Fixed APR Staking Programs to run simultaneously;Massively expands the passive yield opportunities

We are starting 2023 with a Bang!!

After a stupendous response in 2022 from the DeFi communities to our unique FIXED APR staking programs on EasyFi Blend, we are excited to expand the opportunities even further by introducing multiple staking programs running simultaneously on Blend.

The first set of multi-option Fixed APR staking will be with GamyFi Platform on EasyFi Blend on Binance Smart Chain.

The objectives are to provide :

Multiple options for the token holder staking
A range of staking durations simultaneously instead of only one long duration one
Better APRs for shorter periods of time

Program Summary

The details of the programs are given below:

Calculating Staking Rewards

You can predict the rewards based on your deposits.
Use this blog to calculate final rewards at the end of the staking duration: https://bit.ly/Calculating-Blend-Yield

Some Blend Fixed APR Staking Data: Blend Program Stats

Speaking on the launch of this new program model, Satya Prakash Jena, Co-Founder & Head of Operations, GamyFi Platform said:

“EasyFi Blend has been a great tool for our users to stake $GFX tokens & earn rewards. We have previously completed a very successful staking term last & are extremely excited for the new one this year. We hope all our community members participate to maximize their yields.”

Anshul Dhir, Co-Founder & COO, EasyFi Network, reiterated the Blend vision:

“We are thrilled to learn about the amazing response to the fixed APR staking programs on EasyFi Blend. This growing popularity & demand from some users for more options has led us to work on this simultaneous staking model. This will provide users with more passive yield opportunities on the tokens they hold. We welcome GamyFi Platform to this new fixed yield model and look forward to a fruitful association.”

About GamyFi

GamyFi is a fair for all Fantasy Sports Platform & multi-chain NFT marketplace. GamyFi is building an ecosystem of blockchain & NFT powered fantasy sports & NFT platform for sports fans & creators.

Telegram | Twitter | Medium | Website | Discord

About EasyFi Blend

About EasyFi

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EasyFi launches Multi-Option Staking on BLEND with GamyFi was originally published in EasyFi Network on Medium, where people are continuing the conversation by highlighting and responding to this story.

Annual Recap 2022

EasyFi Network — Sat, 31 Dec 2022 07:00:15 GMT

Ready for the Future

Year 2022 has been a bittersweet year of building, creating partnerships, expanding our protocol and products and creating a robust multi-chain product ecosystem. Here is a summary of EasyFi Network for the Year 2022.

Electric Testnet

The most important update for the year 2022 was the multi-chain launch of “ELECTRIC” — our product for Margin Trades on DEXs. Here are some highlights worth noting:

We are currently live on Polygon, Binance Smart Chain & Avalanche
Users have done 20000+ test transactions till date on all 3 chains
This accounts for 2000+ Unique users on 3 chains
Margin trades volumes were closed to $2 Million on 3 chains
Margin Positions on the test token xETH was close to $1 Million in value

Data refers to Test transactions for Electric on Polygon, between 26 Sep to 12 Oct ‘22

Learn more about Electric Here:

Litepaper: https://bit.ly/EasyFi-Electric-Litepaper
Blog: https://bit.ly/Electric-Testnet-Launch-Polygon
Guide: https://bit.ly/Electric-Testnet-Guide

Lending Protocol

EasyFi Network Lending Protocol listing 3 NEW ASSETS in the lending markets on Polygon that further expanded the lending & borrowing horizons on our protocol.

These were: $UNI — from Uniswap, $LINK — from Chainlink & $TUSD — from TrueUSD

Ref here: https://bit.ly/EasyFi-NewMarkets-June22

Blending the World

EasyFi released BLEND in the month of January as a product offering Fixed APR staking for the community. This means that anyone can stake a native token to get a fixed & predictable number of tokens as rewards.

We started with 2 EZ tokens Fixed APR programs that filled up within 72 hours. Post which we were approached by many projects who wanted to start similar programs for their communities as well. Happy to onboard Cryption Network, Gamyfi, Trace Network, Rigel Protocol, ItsMyne, Razor Network & Polkarare as partners on the Blend Initiative.

Here is a gist of achievements with Blend programs:

Currently running on 3 Chains — Polygon, BSC & Ethereum
We have conducted a Total of 9 Programs till date
Native token staking for 60 & 90 days with 90 days being most favoured
More than 200+ unique users from 8 projects have availed the programs
These projects have allocated more than 1.5 Million tokens as rewards
More than 5 Million tokens from 8 projects have been staked till date
More than 300,000 tokens have been claimed by users from 8 Projects
Total Value locked in these programs is closed to $1 Million

Protocol Expansion

In line with our Roadmap of 2022, we expanded to the Avalanche blockchain earlier in 2022. We will eventually integrate & launch all EasyFi products & services on Avalanche for more users & adoption with the following objectives:

Promote protocol #interoperability across chains
Improve adoption across entire product landscape
Offer users better money market options
Inculcate capital efficient products & processes to drive large volumes

Read More: https://bit.ly/EasyFi-on-Avalanche

Outreach, Engagements & Interactions

Here are a few important global & community outreach programs, events, engagements and interactions that was checkered across our 2022 journey:

EasyFi Anthem: We launched the EasyFi Anthem globally in collaboration with Cryptic Entertainment, to talk about our commitments & #DoMoreWithDefi vision

⏩ Watch the Full Anthem here: https://youtu.be/dmMIcLbyVoc

$EZ Campaigns: EasyFi joined hands with multiple projects and companies to bring exclusive campaigns and programs with giant reward pools.

Grand $EZ Campaign with WazirX worth $40000
$EZ Trading Competition with RocketX
Margin Trade on Electric Testnet Bounty in collaboration with Trace Network worth $2500 in Buddy Mint passes
Binance Lite Referral Puzzle Game with $EZ

DeFiNation: Started as an initiative to discuss & drive the DeFi, Crypto & Web3 narrative for global communities. We will continue to do more such events in the times to come and discuss relevant topics that showcase the thought leadership at EasyFi & our peers.

Community Connects & AMAs: We continued to reach out to different global communities including Binance, WazirX & others to talk about our vision and mission in the DeFi space. We conducted AMAs and live interactions with many projects, exchanges and community groups. Some noteworthy ones are as follows:

Ankitt Gaur @ Binance | Ankitt @ Bitinning with Kashif Raza | EasyFi Community Connect

Events & Recognition: Needless to say, we also marked our presence in multiple events across the year. Some noteworthy ones were DCentral Austin, Crypto Expo Dubai 22 & Binance Blockchain Week in Dubai.

EasyFi @ Crypto Expo Dubai ‘22

EasyFi @ Binance Blockchain Week

Ankitt Gaur, Founder & CEO at DCentral Austin

Humbled to be recognized as “Most Innovative DeFi Project 2022”

Media Mentions: EasyFi received considerable interest from global media outlets with over 50 articles mentioning & quoting us and our senior leadership team. Some noteworthy ones are:

Our Immediate Plans for 2023

Next year brings a lot of promise to the entire industry. We hope to see a resurgence of the market’s macros while we continue to build upon what we started off in 2022.

In 2023, we plan to go Mainnet with Electric on 3 chains one after the other. We are also working on a Version 2 of Electric Testnet with even more enhanced features that we will introduce to the community as well. After testing it thoroughly and putting it through audits and checks, we will go mainnet eventually

We have received amazing interest from multiple projects on Polygon, Avalanche, BSC and Ethereum to start Fixed APR programs on EasyFi Blend. We have also devised some new plans that should go live right in the first week of 2023.

Looking forward to entering a new orbit in 2023.

About EasyFi

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Annual Recap 2022 was originally published in EasyFi Network on Medium, where people are continuing the conversation by highlighting and responding to this story.

EasyFi Electric Margin Trade Testing Bounty

EasyFi Network — Tue, 20 Dec 2022 08:38:56 GMT

Conduct Test Margin Trade Transactions to win BUDDY Avatar mint pass NFTs in collaboration with Trace Network Labs

EasyFi is excited to extend its collaboration with Trace Network Labs to bring an NFT Bounty on Electric Testnet.

Top 100 users with the most test trade transactions on Electric Testnet on Polygon, Avalanche & Binance Smart Chain will get a chance to win $25 worth of Trace Network Labs’ BUDDY Avatar Mint Passes…

The Bounty starts on 20th December 2022 and will continue till 31st December 2022

We are inviting all EasyFi users to conduct margin trade transactions on the Electric App on these 3 chains combined. Test Transactions eligible for this bounty include:

Transfer of funds
Deposit transactions
Approval transactions
Opening a Trade
Closing a Trade

Checking Transactions on Avalanche Testnet

The more test transactions you do, the more the chances to win.

About the Mint Pass

Trace Network Labs has a product that enables the creation of multi-chain real-looking Avatars for the Metaverse, one that is metaverse agnostic and can be carried to any metaverse and on any chain. A Sample avatar is given here:

Sample BUDDY Avatar

You can use this Trace Buddy Avatar Mint pass to mint your own metaverse-ready avatar that will have many use cases in the future. To know more you can check this link: How to Mint your Buddy.

The BUDDY Avatar mint passes will be transferred directly to the wallet addresses only on Polygon Mainnet.

Sample Mint Pass Design

How to go about Trading

Refer to the following links for a step-by-step guide:
https://bit.ly/Electric-Testnet-Guide-AVAX
https://bit.ly/Electric-Testnet-Guide-BSC
https://bit.ly/Electric-Testnet-Guide
Visit the Electric Module on the EasyFi App: https://app.easyfi.network/#/electric
Get Test xUSDC from EasyFi Faucet

xUSDC Faucet on EasyFi Electric

NOTE: One address will only be able to get xUSDC only once.

Get Test AVAX faucet for gas fees on Electric @ Avalanche: https://faucet.avax.network/
Get Test BNB faucet for gas fees on Electric @ BSC: https://testnet.bnbchain.org/faucet-smart
Get Test MATIC for gas fees on Electric @ Polygon: https://faucet.polygon.technology/ | https://mumbaifaucet.com/

Secret to having more transactions

Ensure you use the same wallet address on all chains
Make multiple small deposits with different leverages
This means you have more money to play around with
Open trade positions with small amounts from the leverage you have
Repeat on all 3 chains using the same wallet address

Some Rules

Rewards will be transferred to the addresses on Polygon Mainnet only
Users need to tweet their BUDDY Avatars
Tag twitter handles of EasyFi & Trace Network Labs in tweet
Also put hashtags #domorewithdefi #metaverseforlifestyle #buddy

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About Trace Network Labs

Trace Network Labs is enabling a full stack Metaverse technology for businesses & individuals to launch their own 3D experiences with all the components being powered and built natively using Blockchain including and first of it’s kind web3.0 native real looking #BUDDY avatars. You can relate with it like we are SHOPIFY of metaverses. Further, using the same technology it is helping Fashion & Lifestyle businesses & individuals to launch their own experience stores, events, concerts etc.

About EasyFi Electric

Electric is a decentralized, permissionless, scalable, secure, leverage trading platform, from EasyFi, that enables traders to take out short-term loans to trade margin positions from publicly sourced liquidity from different AMMs / decentralized exchanges.

Litepaper

About EasyFi

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EasyFi Electric Margin Trade Testing Bounty was originally published in EasyFi Network on Medium, where people are continuing the conversation by highlighting and responding to this story.

EasyFi Electric Now on Avalanche

EasyFi Network — Fri, 18 Nov 2022 15:59:47 GMT

A Step-by-Step Guide to conducting Margin Trading on TraderJoe Testnet using Electric

Thrilled to extend our Margin Trading on DEXes offering — Electric — on the Avalanche network.

The Electric Smart Contracts have now been deployed on the Avalanche Testnet. You can find the contract here: Electric Avalanche Testnet Contract

The following screenshots have been taken from Electric’s Alpha release UI on the Avalanche Testnet. The process to open and close a margin trade has been explained screen-by-screen.

The Electric Testnet is connected to the DEX on Avalanche — TraderJoe Testnet to enable the margin trades.

Adding RPC Network to your Metamask: Click Here

#1: Connecting Your Wallet to Electric Testnet

Connect your Metamask wallet to the Electric App. Ensure that you are on Avalanche Testnet.

Asset Pools Page with list of assets available to Trade on Electric on Avalanche Testnet

Connect to Metamask

#2: Adding xUSDC from Faucet

The Testnet version of Electric has one asset to test on called xUSDC. Click on “Faucet” shown on the top right of the Pool page.

Obtaining xUSDC from EasyFi Faucet

On clicking the Faucet link, you will be asked for adding your Avalanche Testnet Wallet Address. Paste your wallet address in the space provided and “Send Request”.

Please note: These tokens have no value on any blockchain mainnet and are minted only for testing and experience purposes.

Requesting for xUSDC transfer from EasyFi Faucet to your Avalanche Testnet Wallet

Confirming xUSDC Transfer on SnowTrace Testnet

#3: Supplying Assets to the Liquidity Pool

To get started on Electric, the user needs to “Deposit” an asset as collateral to the pool of assets shown here — in this case you have to deposit xUSDC of course. Also select the leverage you want to obtain on this deposit.

Follow the process of Approval and Confirmation of the process of Blockchain (Avalanche Testnet).

Adding Asset amount and Loan details in Leverage

Deposit Approval for Asset

Collateral Deposit Confirmation

Confirming Asset Deposit with Leverage

Deposit Confirmation on EasyFi Electric App

Checking on SnowTrace Testnet for Transactions

#4: Opening new margin positions & Trade

Once the asset is deposited in the pool, the Margin and Trade options will be activated for the user. You can open multiple Margin Positions for different trades using xUSDC

Trade & margin adjustment options are activated

Click on Trade on the above screen. It leads to the screen below that will create the pair that you intend to trade on TradeJoe DEX (Testnet).

Select the Input token and the Output Token to create the margin trading pair.

Selecting the Input & Output tokens to create the Margin Trading Pair

xETH selected as Trading Pair on TraderJoe (Testnet)

Confirming the Trade on Metamask

Confirming Create Position on SnowTrace Testnet

Transaction Complete Confirmation on Electric

#5: Checking & Closing Your Trade Positions

We move to the next tab on the screen that displays all the trade positions currently live and closed by the user. This page allows you to close any position you have based on your plan for Profits / loss strategy.

On Clicking the Close Position Button, the system calculates your Profit & Loss (P & L) and the Value of the profit or loss in USD.

Checking Your Trade Positions

Closing the Margin Position on AMM

Close Position Confirmation in Wallet

Position Closed on Electric & AMM

#6: Verifying Transactions on Avalanche Testnet

You can check & verify the above transactions on Avalanche Testnet for Creating Position & Closing Position.

Electric Margin Trading Transactions on Avalanche Testnet Blockchain (SnowTrace)

About EasyFi Electric

Litepaper: https://bit.ly/EasyFi-Electric-Litepaper

About EasyFi

…

EasyFi Electric Now on Avalanche was originally published in EasyFi Network on Medium, where people are continuing the conversation by highlighting and responding to this story.

EasyFi Electric on Binance Smart Chain

EasyFi Network — Tue, 15 Nov 2022 07:14:19 GMT

A Guide to conducting Margin Trading on Pancakeswap Testnet using Electric

Electric Smart Contracts have now been deployed on the BSC Testnet on BNB Chain. The following screenshots have been taken from Electric’s Alpha release UI on the BSC Testnet. The process to open and close a margin trade has been explained screen-by-screen.

The Electric Testnet is connected to the PancakeSwap Testnet to enable the margin trades.

#1: Connecting Your Wallet to Electric Testnet

Connect your Metamask wallet to the Electric App. Ensure that you are on BSC Testnet.

Asset Pools Page with list of assets available to Trade

#2: Adding xUSDC from Faucet

The Testnet version of Electric has one asset to test on called xUSDC. Click on “Faucet” shown on the top right of the Pool page.

Obtaining xUSDC from EasyFi Faucet

On clicking the Faucet link, you will be asked for adding your BSCScan Testnet Wallet Address. Paste your wallet address in the space provided and “Send Request”.

Please note: These tokens have no value on any blockchain mainnet and are minted only for testing and experience purposes.

Requesting for xUSDC transfer from EasyFi Faucet to your BSC Testnet Wallet

Confirming xUSDC Transfer on BSCScan Testnet

#3: Supplying Assets to the Liquidity Pool

Follow the process of Approval and Confirmation of the process of Blockchain (BSC Testnet).

Adding Asset amount and Loan details in Leverage

Deposit Approval for Asset

Collateral Deposit Confirmation for xUSDC

Confirming Asset Deposit with Leverage

Checking on BSCScan Testnet for Transactions

#4: Opening new margin positions & Trade

Once the asset is deposited in the pool, the Margin and Trade options will be activated for the user. You can open multiple Margin Positions for different trades using xUSDC.

Trade & margin adjustment options are activated

Click on Trade on the above screen. It leads to the screen below (Figure 11) that will create the pair that you intend to trade on PancakeSwap DEX (Testnet).

Select the Input token and the Output Token to create the margin trading pair.

Selecting the Input & Output tokens to create the Margin Trading Pair

Confirming the Trade on Blockchain

Transaction Complete Confirmation

Corresponding Transactions on BSCScan

#5: Checking & Closing Your Trade Positions

On Clicking the Close Position Button, the system calculates your Profit & Loss (P & L) and the Value of the profit or loss in USD.

Checking Your Trade Positions

Closing the Margin Position on AMM

Close Position Confirmation in Wallet

Position Closed on Electric & AMM

#6: Verifying Transactions on BSCScan Testnet

You can check & verify the above transactions on BSCScan Testnet for Creating Position & Closing Position.

Electric Margin Trading Transactions on BSC Testnet Blockchain

About EasyFi Electric

Litepaper: https://bit.ly/EasyFi-Electric-Litepaper

About EasyFi

…

EasyFi Electric on Binance Smart Chain was originally published in EasyFi Network on Medium, where people are continuing the conversation by highlighting and responding to this story.