EFG Lending System is Officially Launched!

2 min readDec 14, 2020

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!

1. Go to EFG lending website

2. Create and connect your ECOC wallet.

3. Your asset balance (ECOC) will be shown on the right-hand side.

4. In “Collateral” section, click “ECOC”.

5. Input the collateral amount (ECOC) and click “Deposit”.

6. It will show your “Collateral Balance” and “Borrow Balance” on the top.

7. Find “Borrow” section and select “EFG”.

8. Input the amount of EFG you would like to borrow.

9. Click “Borrow”.

10. Finish lending EFG!

For more information

Website: https://efg.finance