August 20, 2022

Mainframe-rebrand HiFi launches fixed-rate lending protocol

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HiFi — the DeFi-focused recent-rebrand of onetime dApp platform Mainframe — is announcing today the launch of a fixed-rate DeFi lending platform. 

“Fixed-rate lending is an important milestone for DeFi,” said HiFi CEO Doug Leonard in a press release. “Investors and traders need less-volatile options so that they can plan finances in advance, have predictability in expenses and hedge investments with certainty.”

The launch is scheduled for 12:00 PM EST.

With a lending product, HiFi is entering into a marketplace featuring some stiff competition. Aave and Cream dominate with nearly $6 billion in total value locked between them, and top-10 protocol SushiSwap is planning a lending offering, BentoBox, for later in the year.

HiFi aims to stand out with a focus on tokenized debt and yield-bearing instruments as collateral. Yield-bearing instruments allow for the fixed rates HiFi advertizes, as well as enabling “the opportunity to better map out finances and trading strategies” with tools like flash loan rate rebalancing and yield swaps.

The announcement notes that while the protocol will initially only offer “USDC stablecoin borrowing with WBTC (wrappedTitle: Mainframe-rebrand HiFi launches fixed-rate lending protocol
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Published Date: Wed, 17 Feb 2021 14:06:30 +0000