Phiat ($EPHIAT) is a fork of AAVE V2 protocol. ePhiat is a decentralized protocol that gives individuals the option to either earn passive income by depositing funds or borrow money through a non-custodial market protocol for liquidity. On pulsechain another token will be launched called Phiat of an idential protocol. They will use the same websites.
Built for RH Ecosystem participants and operating on multiple blockchains, ePhiat operates independently of major governance or venture capitalist influence, instead opting for a revenue-sharing mechanism that benefits both token holders and liquidity providers. The platform is open-source, offering unrestricted access to all users and has undergone multiple security audits. With ePhiat, you can borrow, earn, hedge, leverage, and short your favourite RH Ecosystem coins and more with ease. It is indeed built to support free speech, even when it is hate speech directed against the Hex community, as we believe that giving them a secure environment to short our products is the best course of action.
The Phiat protocol has altered its original plan of being exclusive to PulseChain and has decided to launch on Ethereum to allow for a multi-chain approach. Participants in the initial $PHIAT phase will receive both $ePHIAT and $PHIAT on the PulseChain mainnet. Those who joined the Early-Bird Phamous Phase will receive a bonus in the form of $ePHIAT, but will not receive $PHIAT on PulseChain. This ensures that the original $PHIAT participants are not diluted and remain unchanged. The staking process will remain the same for both platforms, as previously outlined.