BiFARMS is set to launch a decentralized multi-chain yield optimizer platform that allows its users to earn compound interest on their crypto holdings. Through a set of investment strategies secured and enforced by smart contracts, BiFARMS network automatically increases the user rewards from different liquidity pools (LPs), automated market-making projects, and other yield farming opportunities in the DeFi ecosystem.
Decentralized finance, also known as DeFi, is a financial system that uses cryptocurrency and blockchain technology to manage financial transactions. DeFi aims to democratize finance by disrupting centralized institutions with peer-to-peer relationships in an entirely global, permissionless and transparent way.
Over the years, almost every aspect of commercial banking, loaning, lending and trading has been managed by centralized systems, operated by government agents and gatekeepers. Regular consumers go through the hassle of financial middlemen to gain access to financial services ranging from auto loans and mortgages to trading stocks and bonds.
DeFi, on the other hand, is challenging this centralized financial system by eliminating the need for middlemen and gatekeepers, and empowering everyday people via peer-to-peer exchanges. DeFi intends to democratize finance by replacing legacy, centralized institutions with peer-to-peer relationships that can provide financial services, from banking, loans and mortgages, to asset trading.
Likewise, decentralized finance allows the borrowing and lending of money on a huge scale between unknown participants without any intermediaries. Through these applications, interest rates are automatically set, depending on supply and demand. It is fueled by decentralized apps (DApps) or other programs called “protocols”. At the time of writing, the total value locked (TVL) in decentralized finance (DeFi) protocols is about $196.6 billion, while smart contract protocol tokens are valued at more than $500 billion.
DeFi protocols are already offering complex financial products trading and asset management similar to those currently offered by commercial banks. Moreover, the increasing development of borrowing and lending protocols has made the demand for DeFi applications skyrocket. These DApps are not governed by the respective rules and regulations of regional economies, thus increasing their potential rewards.
DeFi Yield Optimizer Project
BiFARMS is a decentralized yield optimizer platform that allows users to earn compound interest on their crypto assets. BiFARMS proposes a simplified method for users to receive high returns on their crypto capital in a safe and decentralized manner. The groundbreaking project comprises an ambitious and highly experienced team from a finance background, directly inspired by the yield optimization projects that had been developed on the Ethereum network.
The main product offered by BiFARMS network is the ‘Vaults’ in which users stake their crypto tokens to maximize their assets. The investment strategy linked to the specific vault will automatically increase their deposited token amount by compounding arbitrary yield farm reward tokens back into their initially deposited asset. What makes this vault interesting is that users can un-stake deposited digital assets from the vault anytime. BiFARMS network allows users to withdraw rewards that are generated through the platform at any given time. This way, users have total and complete control over their crypto assets on the BiFARMS ecosystem.
Meanwhile, BiFarm offers a wide range of unique solutions such as:
- Decentralized Exchange: BiFarm is a decentralized exchange that links users to buy and sell cryptocurrencies in a peer-to-peer marketplace. It enables users to swap their tokens with minimum possible token transaction fees and users stay in control of their private key when transacting on a DEX platform.
BiFARMS multi-chain liquidity protocol allows users to swap any token across all networks, solving the problems of liquidity fragmentation and poor user experience for DeFi and web3.
- Multichain yield optimizer: BiFARMS is a multi-chain yield optimizer that enables users to get high yields on their crypto assets while removing the cost and hassle of daily harvest. By deploying data analysis, automation and optimization methods, yield optimizers are able to automatically compound rewards on behalf of users at optimal intervals.
- Liquidity providing pool: BiFARMS provides a liquidity pool that can be used to provide liquidity to exchanges, loans, and other DEFI applications. Liquidity providers earn fees from transactions on the BiFARMS DeFi platform. The transaction fees are shared proportionally with all the liquidity providers in the pool. Thus, by staking more crypto assets, users earn more fees.
- Yield farming protocol: Users can enjoy the best DeFi yield farming of stable coins and other crypto assets on BiFARMS in order to maximize their crypto earnings with their assets.
- Staking Programs: Through staking programs, the BiFARMS platform gives users the opportunity to put their crypto to work and earn rewards on it. When users stake crypto, they are chosen to validate transactions, and in turn, they receive those crypto rewards.
- Tierless IDO launchpad: BiFARMS is a decentralized tier-less launchpad that operates on a first come first serve basis. The IDO launchpad will help to engage and empower upcoming crypto projects by raising funds and ensuring authenticity to investors.
By deploying BiFARMS on the Binance Smart Chain, the process of user adoption is made quite easier as the BSC ecosystem has the potential to surpass the Ethereum Network. Upon initial deployment on the Binance Smart Chain, BiFARMS later expanded on other blockchains like HECO and Avalanche in a bid to explore new methods of optimizing automation to secure the largest yields available.
BiFARMS aims to simplify the yield farming process by creating a seamless and streamlined process for users to deposit their assets and earn a rewardingly high yet modest APR in a safe, sustainable and robust manner within the BiFARMS platform, across multiple farming ecosystems.
$BFS tokens are ‘dividend-eligible’ revenue shares in the BiFARMS network, through which holders earn profits generated by BiFARMS network and are given the right to vote on strategic platform decisions. For all the vaults deployed on every blockchain, BiFARMS network has its native governance token – $BFS, at its core. The platform revenue is generated from a small percentage of all the vault profits and shared to those who stake $BFS. Users can stake $BFM to either earn more $BFS in a BFS vault, or earn $ETH, $BNB, $AVAX, $FTM, $MATIC, $HT, $ONE, $CELO or $MOVR in the native staking pools.
Total token supply: 1,000,000 BFS
Initial Market Cap: $520,000
Seed Round : 50,000 $BFS (5%) is reserved.
Public Round : 50,000 $BFS (5%) is reserved.
Private Round : 100,000 $BFS (10%) is reserved.
Liquidity & Yield-Farming : 320,000 $BFS (32%) is reserved.
Ecosystem : 160,000 $BFS (16%) is reserved.
Team : 180,000 $BFS (18%) is reserved.
Partners & Advisors : 80,000 $BFS (8%) is reserved.
Marketing : 60,000 $BFS (6%) is reserved.
BiFarms is a decentralized, multi-chain yield optimizer that focuses high yield on crypto holdings. All in one tierless launchpad.
Source: Bitcoinist News