InterFi turns DeFi into a Service
What is InterFi?
A cross-chain DeFi interoperability protocol maximizing returns and capital efficiency by enabling liquidity sharing, altcoin leverage and credit lending.InterFi is committed to enabling resource sharing among DeFi applications, and building a series of infrastructure to speed up the development of DeFi.
Problems
Fund Fragmentation Caused by Isolated Applications
Currently it’s difficult for DeFi applications on different chains to interact with each other. This is due to lack of an API standard and corresponding API aggregators, which consequentially results in fragmentation of different asset pools as well as low asset utilization.
Lack of Universal Stable Coin
DAI only accepts assets in Ethereum as collaterals. However, with the growing demand of DeFi applications on other chains, a universal stable coin which can circulate among different chains, and is easy to mint and use as well, is in urgent need.
Lack of On-Chain User Credit
Fragmentation of DeFi protocols makes it difficult to collect user credit statistics.
InterFi Features
Interoperability Protocol
In the current DeFi market, almost all the applications are aimed at the user’s assets, that is, hoping users to deposit the asset in their apps. In the case of lending, users have to send the excess token to the lending platform to lend another asset. Just like a mortgage loan, you must transfer the use right and property right of the house to the bank to borrow money, which is pretty inefficient.
InterFi is building a new way to use funds with the lower cost of handling capital, less unnecessary voucher tokens, and separation of the use right and property right of funds, to create a more efficient capital market.
InterFi Credit Score
Credit is the cornerstone of the business and social activities, of which the form has been evolving since ancient times. Due to the lack of an effective on-chain credit system, many businesses of traditional finance are difficult to be carried out on the chain, or can only be done through over-collateralization.
The VCS model performs comprehensive evaluation by five parts:
①economic activities (30%): the involvement of economic activities on the chain, including the investment of assets, contribution to the platform, activity and so forth.
②debt burden (30%): the leverage of the individual, the more debt, the lower the score.
③performance capacity (30%): the credit situation of repaying various loans.
④external identity (7%): the credit situation of external platforms. We will consider cooperating with the more mature ID schemes in the future.
⑤social networking (3%): calculating the influence and importance of the address through the model based on other transaction-related addresses. As more users and applications are connected, this part will be included.
InterFi Stablecoin xFAI
Stablecoins are the holy grail of the cryptocurrency world, which turns volatile assets into stable assets that are easier to circulate and use. DAI is now the most popular decentralized stablecoin, but for now, DAI is mainly involved in token collateral to generate DAI and is hard to interact with other applications. Also, DAI will not expand with the demand of users for stablecoins, but with the demand for leverage.
InterFi is building a new stablecoin FAI with a self-regulating and low mint rate or even negative mint rate. It also provides a set of standard stablecoin DAPI interfaces for other applications. Users can directly freeze or lock assets in other applications to mint stablecoin FAI,which makes it easy to combine other features in the application.
InterFi Inter Farm
Due to the popularity of over-collateralization and liquidity mining，the fund utilization in the DeFi market has been very low. For instance, CDPs holders in MakerDAO, actually suffer much higher collateralization ratios than the minimum one required by the system, to avoid liquidation.
With the help of the built-in scheduling management protocol, InterFi can dynamically transfer funds out, thus opening up the channel of funds among applications and allowing funds to flow to where they are more needed, which maximizes the overall utilization of funds and also provides double benefits for users.
Common Scenarios
Any project can easily provide users with leverage functionality
Any project can participate in the iCredit construction and share profits
Any project can achieve secondary farming with the least effort
Any project can be easily called by other projects or chains.
Website : https://interfi.org/home
Github : https://github.com/interfi-org
