Platform Release Arrangements & Roadmap
Learn more about the BonFi Platform Release and Future Roadmap!
Since the last Platform Development Update, we have completed two full rounds of User Acceptance Testing (UAT). We carried out comprehensive testing during these UAT rounds, covering different aspects of the platform. Our testing includes but is not limited to core platform functionalities, smart contract coding logic, front-end usability across various devices, and security. Alongside UAT testing, we have expanded our ecosystem by onboarding and integrating new strategic partners onto our platform, such as YFII and Value DeFi.
With this update, we will provide a detailed breakdown of our current activities until launch, the platform release arrangements, and an overview of our future roadmap.
Current Activities until Platform Launch
Currently, we are working on minor bug fixes and polishing the platform. An essential element here is responsiveness and design across different devices and environments. Our inspection team evaluates the performance on desktop using multiple browsers (Google Chrome, Firefox, etc.) and various Android and iOS devices.
After concluding platform optimization work, we will deploy the front-end and back-end to a new server. With this deployment, we will also implement new security measures and conduct a new round of testing to ensure a smooth user experience during platform go-live. Besides the new server deployment, we are preparing developer and user documentation guides. Simultaneously, we are engaging a third-party auditing firm to review the new smart contracts.
BonFi Partner Ecosystem
We collaborate with multiple strategic partners to deliver a compelling product to our community. In the coming weeks, we will continue to increase our network reach. Here is a graphical overview of our ecosystem to date:
Platform Release Arrangements
On Thursday, April 15th, we will launch the BonFi V1 Platform alongside the website 2.0. Upon release, users can finally start engaging with exciting features such as:
- New BonFi Native DeFi Products: Access to a variety of new staking pools, liquidity mining pool, and credit mining pools
- Third Party DeFi Offerings: Selected recommendation of third-party DeFi products based on individual risk appetite.
- BonVest: Full DeFi aggregation service providing users with market intelligence and detailed information on various platform statistics, network activity, recent market events, social sentiment, and more. Using our proprietary BonAI technology, we track the top crypto projects and dynamically assign risk scores to each project.
The BonFi Platform V1 employs two user tiers:
- Rookie User: Each user will start their journey as a Rookie User. This user tier gives you access to basic platform features and functions.
- Professional User: This user tier gives you full access to all features within our platform.
The whole platform features can be unlocked by locking a minimum of 2500 BNF. Users will earn rewards for unlocking the platform and staking their BNF.
Our work does not stop after launching the BonFi V1 Platform. We have drafted a new technology roadmap that depicts our core goals during the period Q2-Q4 2021. Besides these core goals, we also have ancillary ideas and ambitions. These sub-goals will be covered at a later point in time.
1. Further optimize BonFi V1 Platform: Post-launch we will continue to polish the core functionalities of the BonFi Platform. We will keep updating our data libraries, optimize our risk prediction algorithms, and expand our social sentiment trackers.
2. Integrate additional strategic partners: Our goal is to expand our ecosystem by partnering with other players in the DeFi industry. These partnerships will focus on new product development and integrating third-party products onto our platform.
3. Launch of new Multi-Yield Farms: We will broaden our native DeFi product offering by launching innovative multi-yield yield farms. Our multi-yield yield farms cover the needs and risk appetites of different users. For members seeking a higher reward potential, we will launch joint product initiatives with partners. For those seeking a stable return with lower rewards ceiling, we will present alternatives.
4. Implement Layer 2 solution: We are great fans of Ethereum and intend to continue using this protocol. However, the last weeks did reveal that Ethereum experiences challenges concerning scaling. Therefore, we will seek to integrate Layer 2 solutions. Layer 2 is a set of technologies or systems that run on top of Ethereum (Layer 1). This additional layer will improve transaction processing capacity, lower transaction fees, and ensure faster transaction confirmation time.
5. Multi-chain Integration: We do not believe in the ethos of “One Chain To Rule Them All’. Instead, we are supporters of the multi-chain approach advocated by projects such as Cosmos and Polkadot. Our goal is to build multiple bridges to connect different networks. Therefore, we partnered with NERVE Network to gain full access to blockchain protocols such as the Binance Smart Chain (BSC) and Huobi Chain. We will look to further spread our presence beyond the Ethereum network towards other ubiquitous chains.
6. Launch of BonFi V2 Platform: The launch of 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.
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.