Finterest is one of the first borrowing and lending platforms built and developed on the Dfinity ecosystem. So, everyone, let’s find out what’s interesting about Finterest through this article.
What is Finterest?
Finterest is one of the borrowing and lending platforms on the Dfinity ecosystem. Finterest allows users to supply assets to the protocol and earn interest from borrowers on the platform through overcollateralization.
Each asset is a different money market that has a different APY, supply rate, and lending rate. Besides, the interest rate of each asset type will also fluctuate and it will depend on market demand. The greater the loan demand, the higher the interest rate and vice versa.
It can be seen that Pinterest is similar to common Lending & Borrowing platforms on the market such as AAVE, Compound, Solend but the difference is that Pinterest chose Dfinity for development. Will being at the forefront of an ecosystem help Finterest change its position?
The Difference Of Finterest
Finterest’s difference lies in Dfinity’s technology.
Normally for other Layer 1 blockchains, Bitcoin or Ethereum are often carried through the ecosystem through a Bridge and when assets pass through the bridge it is called wrap but with Dfinity, this project can bring native BTC to Next, there could be many other types of crypto assets integrated into Dfinity as well as its ecosystem.
Bringing native assets to Dfinity and the DeFi ecosystem can open the door to the market’s cash flow to the Dfinity ecosystem.
Development Roadmap
Finterest’s 3 immediate goals are to deploy launch, integrate gorvernance rights for its tokens, and integrate native ETH to become collateral on the platform.
Core Team
Oliver Barr: Co Founder
- Oliver just graduated from university in Oregon in 2020, which means Oliver is only about 22 years old this year.
- Oliver only joined the crypto market at the end of 2021 with a role related to the Sodility programming language.
Carl Sachs: Co Founder
- Before founding Finterest, Carl also worked for a short time at Liquality as a Software Engineer.
- Carl then founded Sachs Management Service, LLC with the sponsorship of Sustineri – an organization with extensive experience in the Crypto market.
Romeo N. (De) Castro: CFO
Romeo worked as a senior leader for a long time at Sumitomo Bank of California for 7 years and Pinn Brothers Construction – Construction company.
Besides, Finterest’s development team has many promising individuals such as Austin Ludwig, Andres Mateo La Salle and Albert Du, most of whom have graduated and have some experience in the crypto market but no must be too much.
Investor
December 14, 2022: Finterest announced its first successful call for $1.5M in Seed round with the investment participation of Polychain Capital, 9 Yards Capital and a number of other investment funds.
Tokenomics
Update…
Exchanges
Update…
Finterest Information Channel
- Website: https://tyhcm-sqaaa-aaaah-abjya-cai.ic0.app/
- Twitter: https://twitter.com/FinterestICP
- Documents:
Summary
Finterest is one of the first DeFi pieces in the Dfinity ecosystem. However, it will take a lot of time for Dfinity in general and Finterest to develop in the future.
