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HomeTechnologyStableTech introduces decentralised lending platform TezFin on Tezos blockchain

StableTech introduces decentralised lending platform TezFin on Tezos blockchain

TezFin (Tezos Finance-tezos.finance), one of the first decentralised lending platforms on the Tezos blockchain, was officially launched on August 19 by StableTech.

TezFin is controlled by a system of interest-earning ‘lending pools’ into which users may deposit money and accumulate capital growth. It also collateralized those funds to borrow capital and incur debt that must be repaid.

TezFin’s influence is expected to expand the Tezos DeFi ecosystem by providing a credit system, fulfilling the cornerstone component of any scaled DeFi ecosystem. Several Tezos DeFi initiatives proved, during a few months last year, the capacity of the Tezos DeFi ecosystem to draw scaled liquidity on par with bigger DeFi chains using yield farming incentives.

However, the Tezos DeFi ecosystem did not have the ability to maintain that liquidity since it did not have lending platforms like Aave or Compound Finance. As a result, the community’s liquidity soon decreased when the yield farms stopped operating. TezFin currently offers an instrument that makes it possible to keep liquidity on Tezos DeFi by making it possible for all aspects of DeFi and commercial sectors to grow on Tezos.

The release of TezFin builds on the momentum that has been built on Tezos as a flourishing Proof-of-Stake blockchain that is gaining a rising reputation as the blockchain of choice for brands and institutions. Tezos has been the foundation for TezFin.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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