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What is Deerfi?
Deerfi offers a new DEFI lego to support LP token holders, wherein users can now deposit Uniswap Liquidity Provider (LP) tokens as collateral for loans on Deerfi. For example, users can deposit USDC-USDT Uniswap LP tokens into Deerfi as a means of borrowing more USDC and USDT to provide extra liquidity on Uniswap. As long as Uniswap’s liquidity earning rate is higher than the borrowing interest in Deerfi, users can receive more income than before. Deerfi Lending protocol aims to help the Uniswap ecosystem and other DEFI platforms to create a flourishing money market in a fully trustless and decentralized way.
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