What is Bearn (BFI) | What is Bearn token

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.

Main products

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.

Tokenomic

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:

Farmers — 12.5% of the total rewards
BFI staker — 25% of the total rewards (plus 15% Vaults profit)
Game Reserve — 5% of the total rewards (total 10,500 BFI)
DAO governance treasury — 20% of the total rewards
Marketing fund — 10% of the total rewards
Dev fund — 7.5% of the total rewards

Figure 1. Initial emission plan. Will be voted & updated by community governance weekly

Initial Liquidity Pools (LPs) for farming BFI tokens

4 pools at beginning, start from block _ 2516400 (Tue Nov 24 2020 13:12:18 GMT+0):_

Cake-LP (50/50) BFI/BNB — 32x Rewards
Single-asset (no IL) BUSD — 2x Rewards
Single-asset (no IL) USDT — 1x Rewards
Single-asset (no IL) DAI — 1x Rewards

What are Vaults?

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:

Pair BDO/BUSD LP
Pair sBDO-BUSD CAKE-LP
BDO-BNB CAKE-LP
More pairs to be added

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

50% to purchase BUSD or BNB
50% to purchase BDO or sBDO

6.9% profit for performance fee

5.9% for BFI stakers
1% for Boardroom stakers

ZERO fee: Harvest, deposit, withdraw

Note:

Withdrawal time lock: Every deposit will lock up withdrawals for 3 hours
After 3 hours: No time lock for partial withdrawal or full withdrawal
The double rewards can be claimed anytime (no lock-up)

Introducing bDollar

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

Epoch Duration: 6 hours
Rebase/Expansion Amount: Up to 3%
Supply/Reward Mechanism: All parameters will be votable on-chain by governance
No expiry for Bonds
Community vote’s pool — new pools will be open based on the community’s vote

bDollar token distribution

Initial supply: 210,000 BDO
Distribution period: 3 weeks

First week: 80,000 BDO
Second week: 60,000 BDO
Third week: 40,000 BDO
Airdrop: 30,000 BDO (BNB, BUSD, CAKE, BFI, BFIE, ESD, BAC, and VALUE) #hodlers can claim BDO by connecting your wallet at bdollar.fi/claim.The airdrop is organized on a first come — first serve basis, until the whole 30k BDO is fully distributed. Each wallet can claim a maximum of 2 BDO while upNdown’s users will be entitled to claim 5 BDO.

Reward rate for Seed pools from Day 1

BUSD: 4x
DAI: 2x
BFI: 2x
CAKE: 1x
3 tokens voted by Community — 1x

Reward rate for Liquidity pools from Day 3

Pancakeswap LPs BDO/BNB — 64x
Pancakeswap LPs BDO/BFI — 32x (After BFIE to BFI bridge is available)
Block countdown: https://bscscan.com/block/countdown/3456789

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:

Pancakeswap LPs BDO/BUSD: 50,000
Block countdown: https://bscscan.com/block/countdown/3220000
Pancakeswap LPs sBDO/BUSD: 35,000
Block countdown: https://bscscan.com/block/countdown/346900
Duration: 12 months

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.

Bearn Fi — Cross-chain bridge tutorial

Swap from BFIE (ETH) → BFI (BSC)

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

Would you like to earn TOKEN right now! ☞ CLICK HERE

How and Where to Buy Bearn (BFI)?

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)

☞ SIGN UP ON BINANCE

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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What is Bearn (BFI) | What is Bearn token | What is BFI token