Madfish launches Yupana Finance, the first decentralized lending protocol on Tezos
Today, open-source blockchain network Tezos welcomes the release of Yupana.Finance on its platform. Developed by a team of blockchain engineers at Madfish, Yupana.Finance is a decentralized and the first non-custodial lending protocol on Tezos.
With this launch, Madfish is providing the long-awaited credit protocol benefits to the Tezos community. Now, Tezos users can borrow, lend, and earn rewards like in any other popular DeFi ecosystem.
In a post on Twitter, the Yupana Finance team said the product is now fully operational and 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
— Yupana (@YupanaFinance) August 17, 2022
Before the launch, Yupana was tested extensively by Madfish developers with the entire community’s help and has already launched on the Tezos mainnet. So now anyone can interact with lending protocol’s tools inside the Tezos world, taking advantage of the decentralized money market protocols.
Using Yupana, lenders provide liquidity and receive passive income, while borrowers take over collateralized loans. In turn, liquidators are incentivized to close insufficient collateral positions to keep the platform running.
In a statement, Sophia Gorban, the Yupana.Finance product owner said the product will unlock new opportunities 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,” Gorban said.
For now, Yupana supports the following assets: TEZ, cTEZ, kUSD, tzBTC, uUSD, and uBTC. , the APY will be determined by the market demand for the corresponding asset.
How to Start
For experienced users, exploring Yupana.Finance provides a similar experience to Aave or Compound with a convenient UI. You may find a more detailed review of how Yupana works and advice on how to get started with it in the guide. Using this link, everyone can start using the first lending protocol in the Tezos space.
Madfish is an Estononia-based software development company in the Tezos ecosystem that created fundamental projects such as QuipuSwap DEX, Temple Wallet, and Yupana.Finance. Madfish products are actively used by almost 200,000 users of the Tezos DeFi sector.
The Tezos Foundation was founded by Johann Gevers. Tezos was created in 2014 by husband-and-wife team Arthur and Kathleen Breitman. Tezos is smart money, redefining what it means to hold and exchange value in a digitally connected world. A self-upgradable and energy-efficient Proof of Stake blockchain with a proven track record.