Tezos (XTZ), pioneering carbon-neutral blockchain, welcomes release of Yupana.Finance DeFi by Madfish
Novel DeFi Yupana.Finance becomes the latest addition to the ecosystem of one of the most popular non-EVM blockchains. It is set to introduce cutting-edge DeFi mechanisms to all enthusiasts of Tezos (XTZ) blockchain.
Yupana.Finance launches as Tezos-based alternative for Aave Finance (AAVE), Compound (COMP)
According to the official announcement shared by the Yupana.Finance team, its product is ready to go live in mainnet on Tezos (XTZ) blockchain.
Yupana Finance, the first open-source lending protocol on Tezos is now fully operational.
Lend, borrow, earn with Yupana!https://t.co/DE8EZgi4Zt
Learn more about the platform’s inner workings from our blog:https://t.co/WZkBJHWuYK
Thank you for your support!#tezos #defi pic.twitter.com/poMLp8jsVH
— Yupana (@YupanaFinance) August 17, 2022
Created by Madfish, a heavy-hitting team of blockchain engineers, Yupana.Finance underwent extensive stress tests in collaboration with the activists of the Tezos (XTZ) DeFi ecosystem.
Everyone can now interact with Yupana.Finance protocol on Tezos (XTZ) mainnet. Currently, its archtecture includes three roles: lenders can provide liquidity to obtain passive income, and borrowers can get loans while liquidiators are incentivized to close insufficient collateral positions.
Sophia Gorban, the Yupana.Finance product owner, is excited by the opportunities this release unlocks for all users of the Tezos (XTZ) ecosystem:
We’ve worked hard to provide a full-fledged liquidity protocol and I hope that users will enjoy a new level of experience inside the Tezos DeFi ecosystem, which has now become complete and comprehensive
New DeFi works with six assets in inaugural release
Since the first mainnet releases, Yupana.Finance supports a wide range of assets, including those pegged to Bitcoin (BTC) and the U.S. Dollar (USD).
As of press time, Yupana.Finance works with TEZ, cTEZ, kUSD, tzBTC, uUSD and uBTC tokens. Effective APY rates for every coin and trading pair are determined by market activity.
For instance, the borrowers of BTC-pegged coins (so called “Wrapped Bitcoins”) can get them as uncollateralized loans with 0.18-0.37% APYs.