DeFi protocol Grizzly.fi to launch overcollateralized stablecoins pegged to the Swiss Franc

ZURICH, August 23, 2022 /PRNewswire/ — Grizzly.fi, a DeFi firm, is innovating by launching a stablecoin pegged to the world’s safest currency.

The Swiss Franc is widely regarded as the safest currency in the world and is viewed by investors as a safe haven during turbulent times. High inflation increases the cost of living and depresses the standard of living worldwide. With current rates of inflation and the excitement surrounding stablecoins, investors are looking for safer alternatives to hold onto their digital assets.

DeFi protocol Grizzly.fi to launch overcollateralized stablecoins pegged to the Swiss Franc

The DeFi Franc or DCHF will be the second product that Grizzly.fi will launch in a short period of time. The company launched its Liquidity Mining Aggregator just 2 weeks ago, which became the largest Binance Smart Chain launch in history $26.5M collected in just three days. (by 6 times)

The company announced on its Twitter page on Wednesday:

“We hope to drive innovation by providing investors with an inflation-proof stablecoin linked to the Swiss Franc. With a strong economy, low levels of debt and sizeable foreign investments, the currency is an attractive alternative to USD-pegged stablecoins.”

According to reports, the DCHF will be an Ethereum-based stablecoin backed by ETH and WBTC. Users can get the token through their own lending platform, where you can post collateral to borrow DCHF at 0% interest rate.

The platform allows you to take out loans with a minimum collateral ratio of 110%, which equates to a 90.09% loan-to-value ratio. This makes borrowing extremely capital efficient, allowing for up to 11x leverage on your investments.

“The DeFi space offers many amazing opportunities to generate income from your wealth. However, many people are not comfortable selling their positions to participate. The DCHF gives you the opportunity to hold your long-term ETH and BTC positions, while at the same time allowing you to invest in attractive yield opportunities.”

Oliver explained that they are working on a broader vision to become the go-to place in DeFi to generate income from your digital assets.

Grizzly.fi and the DCHF are combined to provide leverage on Grizzly.fi’s liquidity pools. Essentially, this will allow people to leverage stablecoin pools with almost no risk.

The only platform that has done anything similar in the past has been Abracadabra Finance, which has helped their TVL grow to a whopping size 6 billion dollars. In addition, their SPELL token reached a market capitalization of 4 billion dollars.

Setting up these mechanisms and combining their products is definitely a step in the right direction for this team. If successful, we can expect explosive growth from this innovation-driven company.

www.grizzly.fi
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SOURCE Grizzly.fi

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