๐Ÿ”กWelcome to Phiat

What is Phiat?

Phiat is a fork of AAVE V2 protocol. We assume you have reasonable knowledge about AAVE protocol and their tokenomics. Please check here for more details.

Phiat is a community owned decentralized protocol that gives individuals the option to deposit or borrow tokens through a non-custodial market protocol for liquidity.

Why Phiat?

Built for RH Ecosystem participants and operating on multiple blockchains, Phiat 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 Phiat, 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.

How do I engage with Phiat Protocol?

Using the Phiat protocol is simple. All you need to do is provide your desired (supported) asset and quantity in a Metamask wallet. Upon successful provision, you'll earn passive income based on the demand for borrowing. Additionally, your assets will serve as collateral to secure loans. The interest earned from your provision compensates for the interest charged on borrowed funds.

What is the cost of interacting with Phiat protocol?

Using the protocol involves making transactions, which incurs transaction fees on the Ethereum blockchain based on network traffic and the complexity of the transaction.

Is there any risk?

It is an irrefutable fact that no platform can be deemed entirely devoid of risk. The Phiat protocol, like all others, is susceptible to two key risks:

  • The risk of an error or defect in the smart contract code.

  • The risk associated with the process of collateral liquidation.

To assuage these risks, the Phiat protocol has undergone a series of measures aimed at minimizing their impact, such as the adoption of battle-tested open-source code, comprehensive code audits, and ongoing risk management practices and maintenance.


Exercise extreme vigilance against the threat posed by phishing sites and fraudulent schemes purporting to be associated with Phiat. To safeguard your assets, it is imperative that you meticulously verify the legitimacy of all websites before transacting or providing any information. Ensure that you only utilize authorized Phiat platforms, thereby minimizing the risk of falling prey to unscrupulous actors.

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