BiFi Finance, short for Bifrost Finance, is a multi-chain DeFi project developed using Bifrost’s universal multichain middleware. It supports a decentralized financial infrastructure that connects all the capital markets currently isolated on each blockchain.
This model allows for innovation and the creation of new DeFi products and services with blockchain interoperability. BiFi Finance offers lending and staking protocols on several leading blockchain ecosystems.
Unlike other protocols, BiFi was built from scratch to optimize algorithms for volatility risk and gas reduction, offering highly competitive interest rates and collateral ratios. The protocol has also undergone three external security audits, giving its users higher trust and security.
BIFI is the native currency of BiFi Finance. You can receive rewards in BIFI tokens when using the platform for lending, borrowing, staking, or pooling. Holding BIFI also lets you become a member of the BDAO and participate in the decentralized governance process of the BiFi protocol.
