BonFi V2 — The Ultimate DeFi Aggregator

Ushering in a new era of Decentralized Finance Aggregation

After months of labor, it is time for BonFi to leave phase 1 and announce a new version of the BonFi Platform. BonFi V2 will continue to push beyond boundaries and usher in a new era of Decentralized Finance Aggregation.

What started as an ambitious attempt to streamline the Decentralized Finance Industry on the Ethereum-based Network, BonFi, the ultimate DeFi aggregator, expanded its horizon and set out to break down blockchain silos. We offer digital asset owners a secure, accessible, and transparent application service through data aggregation and full interoperability with six high-profile blockchain protocols. Additionally, we secured strategic partnerships with other mainstream blockchain platforms to build a base for the DeFi Applications of tomorrow.

A Tale of User Experience

BonFi’s mission as a protocol is to bring Decentralized Finance to the masses. Several significant barriers inhibit adoption. One great barrier is information fragmentation; it is notoriously challenging to grasp DeFi service providers and their products.

Another barrier is security. Over the past two years, many DeFi platforms have become victims of numerous security exploits.

The growth of the crypto industry has led to increased transaction costs. The extremely high gas prices restrict users from freely experimenting with DeFi products.

Besides gas cost, interacting with multiple protocols to perform certain functions adds further friction to the user experience. BonFi V2 will be ready to onboard a new set of users and improve the lives of our existing users.

What’s new with V2?

Full Polygon DeFi Support

We will add full DeFi support for the Polygon Network (MATIC). Token holders will be able to seamlessly leverage the technical features of Polygon and gain access to exclusive Polygon DeFi products.

This Polygon network is becoming one of the most popular networks for Decentralized Applications. Polygon is a framework for building interconnected blockchain networks. It facilitates a future where different blockchains no longer operate as closed-off siloes and proprietary communities but function as networks that fit into a broader interconnected landscape. In particular, it addresses some of Ethereum’s significant limitations — including its throughput, poor user experience (high speed and delayed transactions), and lack of community governance.

Its infrastructure allows for advanced Defi-based decentralized applications, and non-fungible tokens(NFT), while still being able to link with any Ethereum-compatible blockchain.

Direct Token Swapping

We will further streamline the DeFi experience by adding a token swap module that allows users to swap the BNF token with just a mere click of a button. Through this module, token holders can easily purchase, sell and swap their BNF tokens across the various supported blockchain networks.

Expansion of DeFi Offerings

Besides an exclusive suite of DeFi offerings on the Polygon network, we will expand our existing DeFi offerings across the BSC and ETH networks. We are partnering with top industry players to offer new exclusive multi-yield pools. Additionally, we will launch stablecoin (i.e., USDT, BUSD, USDC) DeFi products for risk-averse investors. With this expansion, we can satisfy the needs of both beginner and expert DeFi users.

BonVest Updates

The BonVest is our Full DeFi aggregation service that leverages Artificial Intelligence (AI) to provide BNF token holders with high-value market intelligence. We provide a curated list of DeFi Investment Opportunities and comprehensive insights into DeFi platform developments, user activity, recent market events, social sentiment, and more.

With V2, we will upgrade our data libraries and algorithms to expand our market intelligence suite. Token holders will gain more comprehensive insights into market developments and crypto investor behavior. These upgrades will culminate into a more advanced prediction engine that helps DeFi users contextualize market information.

Launch of DAO Governance

As the ultimate DeFi Aggregator Protocol, BonFi establishes itself as the middleware of finance. Therefore, other contributors are welcome to start building innovation on the BonFi platform. We took a step towards greater decentralization by launching a Community Bounty Program earlier this year. V2 will represent a new era where integrators are further incentivized and actively participate in its governance.

The tools and features of BonFi V2 will empower contributors to improve existing features and co-develop new decentralized applications. Our ethos is that finance should be as you like it, with working governance where the protocol’s future is in your hands. Together we can push the limits of Decentralized Finance and beyond.

V2 Launch Date

We are looking to bring all of these new exciting features to you in Q1 of 2022! Thank you for your continued support and for partaking in this journey with us!

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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