BiFi Open Beta
BiFi is the multichain DeFi project that will connect not only Ethereum but also other blockchains like Bitcoin, Tron, and Klaytn, thereby expanding the DeFi market by more than 5 times. Through this multichain connectivity, BiFi will lower the gas fees, increase accessibility, and expand the ecosystem to enable more innovative financial products to more people.
In Open Beta, BiFi will support lending and borrowing for ERC-20 tokens. In the first half of 2021, it will connect other digital assets on networks like Klaytn, Tron, and ultimately Bitcoin. You can learn the details about the service and launch schedule below.
January 2nd: BFC Pooling & Staking
Starting 10:00 UTC, the new BFC Pooling & Staking service will launch.
You can stake BFC, or the Uniswap LP token you receive by being a liquidity provider for BFC-ETH pool, and receive BiFi tokens. You can withdraw your staked tokens and accrued BiFi at any time. If you participated in the previous staking event, your principal and rewards will be sent directly to your wallets around 10:00 UTC.
Deposits open at 10:00 UTC, and BiFi rewards begin accruing at 11:00 UTC.
January 7th: Lending & BiFi Rewards
Starting 6:00 UTC, Lending and BiFi Rewards will launch.
Lending service allows users to deposit ERC-20 assets and borrow against their deposit. The interest rates are determined solely by the market demand in a decentralized manner. Our first version will support ETH, DAI, LINK, USDT, and more tokens will be added. In 2021, we plan to connect other blockchains to allow depositing and borrowing between different blockchains, like Ethereum, Klaytn, Tron, and ultimately Bitcoin.
To secure initial liquidity, BiFi will begin its Rewards Program. Anyone who deposits or borrows on BiFi will receive BiFi tokens.
January 14th: BiFi Pooling
Starting 6:00 UTC, Pooling service will also support BiFi tokens.
Just like BFC Pooling, you will be able to stake your BiFi tokens or BiFi-ETH Uniswap LP Tokens to earn even more BiFi tokens. You will also be able to withdraw your stake and claim your rewards any time.
BiFi Roadmap
- January 2, 2021 — Staking & Pooling: Launched staking service for BFC and BFC-ETH pair to earn BiFi tokens.
- January 7, 2021 — Lending & Rewards: Launched lending and borrowing service for ERC-20 assets and Rewards Program to earn BiFi tokens.
- January 14, 2021 — BiFi Pooling: Support BiFi tokens for Pooling service to earn more BiFi tokens.
- Visit BIFROST & BiFi website for more information
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