The past year in DeFi has definitely seen its ups and downs. Globally, more and more businesses are adapting to current market conditions, and EQIFI is no different. As our one-year anniversary approaches, we look back at the first year of our platform, assessing our progress and our community’s feedback.
Year in Review
Top 3 Achievements:
- Platform Launch August 7th of 5 products: Fixed Rate, Variable Rate, Yield Aggregator, Staking & Interest Rate Swaps
- Banking Services Offered from day 1 to all EQIFi users
- EQIFi Mobile App Launch April 2nd, Downloadable from the App Store or Google Play
All of our detailed milestones are available in our roadmap.
A Fresh Approach
With time to gather data, observe user patterns and analyze information, we have seen some of our products being used more frequently than others. To focus on what our users want, we will dedicate our attention to the most popular products and services we offer. Starting in August, we will continue to develop Fixed Rate Deposits & Loans, Peer-to-Peer transfers, Yield Aggregator, Staking Pools, and Token Exchange Services.
We will deprioritize and eventually discontinue the two products that have seen the lowest usage: Interest Rate Swaps and Variable Rate Loans. We will continue to re-evaluate all of our existing and future products and services, ensuring that what we build is beneficial to our users and community.
As the EQIFi ecosystem matures, it is important for us to focus on a product suite aligning with our vision and yours. Together, with feedback from our community, we build a robust, future-proof suite of products today.
Timeline
As we transition certain products out and bring new ones in, there will be changes to the platform. Starting today, we will limit the creation of new Variable Rate Loans. Users may not deposit funds into the Variable Rate product to lend out or borrow Variable Rate Loans. We will also phase out Interest Rate Swaps and kindly request that if you have any funds in any of the Variable Rate or IRS products to remove them from the platform by July 31st.
On August 9th we will transition out Interest Rate Swaps and Variable Rate Deposits & Loans from the platform.
The EQIFi Team
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