Fira Launches Ethereum-Based DeFi Lending Protocol with $450 Million in Deposits

Fira has introduced a new Ethereum-based fixed-rate decentralized finance (DeFi) lending protocol, which launched on Tuesday with approximately $450 million in deposits. According to NS3.AI, these deposits were reallocated from Euler Finance users during a pre-launch phase that began on January 8. Fira's model allows users to secure borrowing costs and lending returns for specified periods, offering a structured approach to DeFi lending.