HiFi — the DeFi-focused recent-rebrand of onetime dApp platform Mainframe — is announcing today the launch of a fixed-rate DeFi lending platform.
“Fixed-rate lending is an important milestone for DeFi,” said HiFi CEO Doug Leonard in a press release. “Investors and traders need less-volatile options so that they can plan finances in advance, have predictability in expenses and hedge investments with certainty.”
The launch is scheduled for 12:00 PM EST.
With a lending product, HiFi is entering into a marketplace featuring some stiff competition. Aave and Cream dominate with nearly $6 billion in total value locked between them, and top-10 protocol SushiSwap is planning a lending offering, BentoBox, for later in the year.
HiFi aims to stand out with a focus on tokenized debt and yield-bearing instruments as collateral. Yield-bearing instruments allow for the fixed rates HiFi advertizes, as well as enabling “the opportunity to better map out finances and trading strategies” with tools like flash loan rate rebalancing