BNF Platform Roadmap Update

A comprehensive update on the BNF Platform’s Vision and Direction

On April 15th, we launched the BonFi V1 Platform to the public. With our unique DeFi aggregator, we enable the crypto community to engage with DeFi in a streamlined manner. For advanced users, we built the BonVest. This comprehensive prediction engine helps DeFi users to obtain detailed market information in real-time. Since the initial launch, we improved and expanded the platform by leaps and bounds. We want to summarize our work over the summer and where we stand with our original roadmap.

Platform Optimization Highlights

Post-launch we received valuable feedback from the community that allowed us to improve the platform further. Here is a high-level summarized overview of post-launch platform bug fixes & optimizations:

  • Added additional evaluation parameters to boost the quality of the DeFi project and product risk scores.
  • Improved data fetching capabilities by upgrading our data crawlers.
  • Designed new functions to enhance the quality of data queries to increase BonVest’s reliability.
  • Added a function that enhances page loading speeds across different devices and browsers.
  • Multiple front-end UI bug fixes and optimizations
  • Fine-tuned market sentiment data interpretation to account for extreme market volatility.
  • Fixed a bug that did not allow the user to set a new spend limit for staking after completing a staking pool cycle.
  • Improved the spending limit allowance process for users to streamline the user experience and simplify the staking process.
  • Extended the Third Party Defi Offering project library
  • Server Upgrades and Maintenance to improve platform loading speeds
  • We raised the APYs for all staking pools by 300% based on market development and community feedback

Platform Expansion Highlights

Besides optimizing our original platform, we expanded the platform with many new features. Here is a summarized overview of key platform additions during this period:

  • Integrated the BonFi Liquidity Staking Pool to Zapper.fi, allowing users to provide liquidity to Uniswap and zap into liquidity staking in a one-stop process (Link).
  • Completed BonFi Cross-Chain bridges, linking BNF to five new blockchain protocols: Binance Smart Chain (BSC), Huobi Eco Chain (HECO), OKEX Chain, NULS, and Nerve (Link).
  • Successfully launched the Katalyo-BonFi multi-yield staking pool (Link)
  • Partnered with UniFarm to provide a new multi-yield pool that allows users to earn APY in various project tokens incl. Raze Network, Netvrk, UniFarm and OpenDefi. (Link)
  • Established partnership with Centaur, focusing on future multi-yield pools, a dedicated BonVest integration, and resource sharing. (Link)
  • BSC token minting on Binance Smart Chain (BSC), enables users to switch seamlessly between the ERC20 and BSC Networks. (Link)
  • Built a fully interoperable Binance Smart Chain (BSC) version of the BNF Platform (Link)
  • Launched comprehensive DeFi product offering on the BSC Network (Link)
  • Listing on BNF Token (BSC Network) on PancakeSwap (Link)
  • $BNF can now be used as means of payment in all dApps and websites that use @DePayFi
  • Joined the SCO Platform commission for joint initiatives and ecosystem expansion (Link)

Technology Roadmap Progress

Before the launch of BonFi V1, we drafted a new technology roadmap that depicts our core goals for 2021. We are still following this core technology roadmap while simultaneously exploring new options to seize market expansion opportunities.

1. BonFi V1 Platform Optimizations: We have completed core BonFi V1 Platform Optimizations. Our work here mainly covers continuous maintenance work to ensure the platform runs stable and bug-free.

2. Integrate additional strategic partners: We have partnered with various crypto projects and added their details to our DeFi Aggregator. Our core focus is to integrate the $BNF token into other platforms to boost our token utility.

3. Launch of new Multi-Yield Farms: During the past weeks, we launched multi-yield farms in partnership with UniFarm and Katalyo. We are now collaborating with other parties to expand our multi-yield farm offering. Announcements on this will follow.

4. Implement Layer 2 solution: We analyzed several layer 2 solutions (e.g. Polygon, XDai) to identify solutions for Ethereum’s scaling challenges. We upgraded all our original deployed smart contracts to improve transaction fees, transaction throughput, and confirmation times based on our findings.

5. Multi-chain Integration: We have completed our core goal of multi-chain integration by building bridges with six core blockchain protocols. We are now keeping a close eye on new up-and-coming ubiquitous blockchain protocols such as Polkadot (DOT) and Solana (SOL).

6. Launch of BonFi V2 Platform: Our fundamental goal is to launch BonFi V2 before the end of the year. BonFi V2 will usher in deep community involvement. We will launch a new governance portal that allows community members to be deeply involved in the BonFi platform’s future direction. Alongside this portal, we will offer new tools to boost community participation and discussions.

We hope that this comprehensive overview has provided you with a clear picture of BonFi’s vision and development direction. As always, we continue to welcome community feedback and suggestions for new features and ideas. Please feel free to reach out to us via Telegram. Together we can further expand the BonFi Platform!

About BonFi

BonFi is a multilayered open finance liquidity mining service platform complemented by the AI-powered BonVest, a professional cryptocurrency liquidity mining solution. It expands the DeFi financial product offering by combining smart contract staking and a managed cryptocurrency liquidity pool to achieve sustainable benefits for users.

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