Interest accumulating iTokens added to Eidoo’s DeFi Exchange portal

iTokens allow rehypothecation, the ability for lenders to use iTokens as collateral to take out loans...

Interest accumulating iTokens added to Eidoo’s DeFi Exchange portal

bZx, a decentralized margin lending and liquidity protocol featuring native interest-bearing iTokens, are now available on Eidoo’s recently launched DeFi Exchange.

Built-in on Eidoo’s wallet app, the DeFi Exchange is for trading, lending, and interacting with DeFi tokens. Further, users can fully interact and use DeFi apps, Eidoo is available on Android, iOS, and desktop.

iTokens / pTokens

Using the bZx Fulcrum platform, lenders can earn interest by minting iTokens such as iDAI and iUSDC; which automatically accumulate interest. Borrowers pay interest from the lending pool to trade long and short positions with up to 4x leverage.

The concept was first introduced by bZx in a joint report with MakerDAO published in July of 2018 with technical specifications subsequently explained by bZx when launching Fulcrum in March 2019.

Eidoo also plans to support for bZx’s pTokens. These tokenized, variable-rate loans allow users to borrow assets; and build leveraged positions. pTokens are available for: LINK, ETH, REP, BAT, KNC, and sUSD.