Since we have launched the GPT staking for a little while, we are thrilled to introduce another new feature of ECOC, “EFG lending system”.
The EFG lending system will be officially launched on Tuesday, December 15, 2020 1:00 PM (UTC+8)!
What is ECOC Financial Growth (EFG)?
EFG’s dApp, which has been created by ECOChain, is based on smart contracts architecture. All of the tokens on this DeFi platform are ECRC-20 standard tokens. The dApp also aims to be cross-platform through “wrapped tokens,” meaning coins and tokens on a number of blockchains can be swapped in a decentralized way.
How do I start lending EFG?
To start lending EFG, you must deposit ECOC first as a collateral to borrow EFG. The system will calculate the amount of EFG you can borrow according to your collateral!
- Go to EFG lending website
- Create and connect your ECOC wallet.
- Your asset balance (ECOC) will be shown on the right-hand side.
- In “Collateral” section, click “ECOC”.
- Input the collateral amount (ECOC) and click “Deposit”.
- It will show your “Collateral Balance” and “Borrow Balance” on the top.
- Find “Borrow” section and select “EFG”.
- Input the amount of EFG you would like to borrow.
- Click “Borrow”.
- Finish lending EFG!
For more information