bEarn Fi is a cross-chain product in Decentralized Finance (DeFi) that at its core provides yield generation, algorithmic stablecoin, bridge, gaming aggregation, treasury and governance on multi-chain: Binance Smart Chain blockchain (BSC) and Ethereum blockchain.
The protocol is developed by various independent factors within the cryptocurrency space. Management of the protocol is governed by BFI and BFIE (BFI token on Ethereum blockchain) holders.
Our core products are active in production, below is a quick brief on the protocol’s governance process, and links to active communication channels.
Algorithmic stablecoin — bDollar
bDollar is the first algorithmic stablecoin on Binance Smart Chain with an innovative solution that can adjust its supply deterministically to move the price of the token in the direction of a target price to bring programmability and interoperability to DeFi.
Binance Smart Chain Vaults
The first and most advanced yield-farming aggregators on BSC that generate yield based on opportunities present in the market automatically. Vaults benefit users by reducing gas costs and focus on returning maximum profit to depositors.
Inspired by BSC — an innovative solution to bring programmability and interoperability to DeFi with high speed and low gas costs. Thus, users do not need to have a rich knowledge of the underlying protocols involved or DeFi and they are still able to have a passive income.
Gaming
The first cross-chain project that allows users to play multiple games on both BSC and Ethereum blockchain.
The reason why real time gaming’s don’t work well on the Ethereum network is because the network is relatively slow, gas fees can be high at times and network congestion can also play a major role. This is where BSC comes in.
Bridge
Cross-chain portal to transfer assets between BSC and Ethereum blockchain.
Treasury
Treasury that enables users to obtain coverage against financial loss for various smart contracts and protocols on the BSC and Ethereum blockchain. And treasury will be controlled under governance.
Governance
The Bearn Fi ecosystem is controlled by BFI and BFIE token holders who submit and vote on proposals that govern the ecosystem. Proposals that meet requirements (>30% of the tokens staked in the governance contract) and generate a majority support (>50% of the vote) will be processed.
Flexible emission rate (will be changed over time to match the development — Quarterly or Monthly):
Daily emission: 322.5 BFI
Weekly emission: 2257.5 BFI
Distribution:
Figure 1. Initial emission plan. Will be voted & updated by community governance weekly
4 pools at beginning, start from block _ 2516400 (Tue Nov 24 2020 13:12:18 GMT+0):_
Vaults are the massively adopted term to represent the smart-contract strategies developed by yield optimizers. More elegantly said; bEarn.Fi optimizes bDollar rewards through a vault system; vaults serve as investment instruments, implementing procedures through smart contracts. These vaults automate the best yield farming opportunities. Vaults can also perform the following actions: use assets as liquidity, provide assets as collateral for others, manage collateral to reduce odds of liquidation, use assets to generate a yield and compound profits. With the following actions, vaults allow users to automate their De-Fi farming experience completely.
The vault contract takes care of all this for the user every hour, or earlier if the community calls the harvest button early! This means the user automatically has their harvest sold, compounded back into an LP, and deposited to allow it to grow at a faster pace and is hands-off.
bVaults
The initial Vaults that we are deploying:
What makes bVaults different?
bVaults offers double rewards with BFI and BDO or even triple (more details to be updated) rewards for LP holders, apart from the high APY on each Vault and the token harvested. A 3% of newly minted BDO during the expansion phase will be sent to reward Vault holders. In comparison, other yield optimizers are currently offering single rewards.
The bEarn vaults system utilizes the following auto-compounding vault strategy:
93.1% of profits are used to compound users LP tokens
6.9% profit for performance fee
ZERO fee: Harvest, deposit, withdraw
Note:
Presented by Bearn.fi, bDollar is the first algorithmic stablecoin on Binance Smart Chain with an innovative solution that can adjust its supply deterministically to move the price of the token in the direction of a target price to bring programmability and interoperability to DeFi.
Inspired by Basis and its predecessors, bDollar is a multi-token protocol that consists of three tokens: BDO (the algorithmic stablecoin), bDollar Shares (or sBDO, which holders can claim BDO inflation when the network expands), and bDollar Bonds (or bBDO, which can be purchased at a discount rate when the network is in contraction and can be redeemed for BDO when the network comes to its deflationary phase and price goes below 1$).
Below is the explanation of how bDollar mechanisms works:
BDO trades below the $1 target price
When the BDO price is below the target price of $1, token holders can purchase bDollar Bonds with an extra discount and Bonds will be burnt to reduce the circulating supply when users redeem bDollar with a 1:1 ratio.
In case of redemption, an amount of BDO will be minted to equal the bDollar Bonds that have been redeemed. Important to note is that Bonds have no expiry after purchase.
BDO trades above the $1 target price
When BDO price is above the 1$ peg, the token supply will have to expand to push it back down to 1$ and the contract will allow the redemption of the bDollar Bonds.
When the price of bDollar continues trading above the $1 target price after bond redemption, the contract mints an appropriate amount of new BDO and this will be distributed to the Boardroom Stakers.
Unique algorithm
bDollar token distribution
Reward rate for Seed pools from Day 1
Reward rate for Liquidity pools from Day 3
bDollar Shares distribution
sBDO has a maximum total supply of 100,000 tokens. 15,000 sBDO are allocated to the team and DAO (7,500 each) and vested linearly over 12 months. The remaining 85,000 sBDO are allocated for incentivizing Liquidity Providers in 2 pools, as follows:
Participate in bDollar farming
To participate in the protocol, visit the bDollar Banks dashboard here, and select your preferred pool:
Participate in the Boardroom
Boardroom opens 7 days after the launch: 01/01/2021 00:00 UTC
The first segniorage will happen 12 hours after that.
Read more ☞ What is bDollar (BDO) | What is bDollar token | What is BDO token
Before doing the Swap, please make sure that you have set the Binance Smart Chain on your Metamask. And have balance in BNB and ETH to pay for gas fees.
Visit https://bearn.fi/bridge → Click on Swap from BFIE to BFI
Open Metamask, switch to Ethereum Mainnet and Click on Unlock Wallet to Swap
Enter the number of BFIE to swap. And click on Approve BFIE and confirm on the Metamask pop-up.
Click on Swap Now
Sign transaction by click Confirm
Click on Submit to Bearn.fi
The process is completed** → **check your wallet on Ethereum Mainnet
Note: Connect MetaMask to Binance Smart Chain with the following instruction https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain
source : https://www.youtube.com/watch?v=bRxnsF6GsD0
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BFI has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy BFI
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since BFI is an altcoin we need to transfer our coins to an exchange that BFI can be traded. Below is a list of exchanges that offers to trade BFI in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase BFI from the exchange.
Exchange: PancakeSwap, Bvnex, and OpenOcean
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once BFI gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com
Find more information BFI
☞ Website ☞ Explorer ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Coinmarketcap
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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