What is BNFY Finance (BNFY) | What is B Non-Fungible Yearn Finance token | What is BNFY token
B Non-Fungible Yearn – A Better Way To DeFi
B Non-Fungible Yearn or $BNFY is a DeFi NFT protocol for utilizing ERC721 tokens for Yield Farming on Binance Smart Chain. By using NFT tokens we allow stakes to be more dynamic! Instead of a stake being tied to a user’s wallet address it is linked to a transferable NFT. With $BNFY your favorite collectible can also earn you money!
Staking
The protocol allows a user to stake their various digital assets into multiple different pools to earn $BNFY, the governance token of the platform. The staking process will be the same as any other staking platform however when a user stakes on the $BNFY platform an NFT is minted and the details of the user’s stake will be stored in the NFT’s unique token id.
The advantage of using an NFT is the added flexibility of being able to transfer the ERC721 token along with all the staked tokens wrapped within it. There’s no need to unstake your assets, to cash out you simply sell the NFT right on our marketplace.
Liquidity Locking
You can also lock your LP tokens after providing liquidity on a DEX such as BakerySwap. When you stake your BNFY/BNB liquidity tokens in the BNFY platform, the LP tokens are locked in the staking contract, but the value is not. The protocol will mint an NFT at the time of staking which will wrap the value you have locked in a transferable ERC-721 token. Your stake will be stored on-chain in the metadata of the token.
When you decide you no longer want to be a liquidity provider, you can go on the market and trade that NFT for the market value of the LP tokens along with the accrued rewards. Of course you can also unstake if you wish. When you unstake, the NFT is burned and staked funds plus unredeemed rewards will be transferred to your wallet.
Manage Your Risk
B Non-Fungible Yearn is a new experimental DeFi protocol. Although the smart contracts have been audited, just like any new experiment, there is risk involved. Before using any features of this protocol, it is advised to make sure you have a full working knowledge of liquidity pools and impermanent loss. APY numbers are variable, and depend on the BNFY trading platform volume. BNFY is an experiment in decentralized finance and therefore no returns are guaranteed. APY is based on BNFY. By using this app, it is an acknowledgement of understanding the risks. Risk only what you are willing or can afford to lose.
As rewards from reward vault are disbursed, rewards will be replenished from the fees collected from each transaction of the trading platform. Please realize that these rewards are based on the volume of this platform and the reward vault may be depleted if there in no trading volume on the platform.
The Future
NFTs are the Next Fucking Thing! The potential of NFTs and the ERC-721 standard in DeFi are endless. BNFY’s goal is to be a pioneer and one of the first to have this potential be seen by the masses. The crypto-sphere moves fast, before anyone knows it NFTs will be implemented in every new DeFi project. Get in now and come along for the ride!
Transaction Fees
While there are no transaction fees when transferring BNFY or any NFT, there will be a small fee in BNFY when using the trading platform. Since a NFT can not be broken down the fee will be taken from the staked value of the NFT, this means that a fee in BNFY will taken out before each trade. The breakdown is as follows:
- Trade Fee: 5% in BNFY
- 90% will go to the reward vault
- 10% will go to the DAO
Smart Contracts
All the smart contracts have been deployed on Binance Smart Chain Mainnet. Here are links to each one of them for your review. Not a single line of code has been changed, therefore the security audits that have been performed are still valid. We may opt to have new audits performed as well to confirm they are as good as we believe them to be.
BNFY Token Contract
0xd3a3a69c575d81ce8e7cf1298ce760055a5669c1
Reward Pool
0x26ba1127d48ce2de7df73dcc2da82454077ab233
BNFYStakingNFTV2
0xc8afd2a9f7189d132751cc2cb13e30f745451fab
BNFYStakingV2
0x30a89b8c22c9b9d9fc8a77dc94a9a7e668340c8b
LPStakingNFTV2
0x359717dd849339358e2aac3a1714d31d3a066568
LPStakingV2
0xde144b10f75c088072e8723061144f038eaeaaee
Token Vault
0x4153d471b10d379aef426ec780821d18199da54c
BSCstarterLiquidityLock
0xae9aFfF8198AC53f34Bcb2C8f4600029D3D87D96
TOKENOMICS
- Token Contract: 0xd3a3a69c575d81ce8e7cf1298ce760055a5669c1
- Symbol: BNFY
- Max Supply: 100,000
- Circulating Supply: 50,000
- Team Tokens: 1,000
Reward tokens will be locked for 21 days while $BNFY staking and $BNFY/$BNB LP staking is enabled. Reward tokens transferred to Reward Vault once time lock is over.
- Seed Sale Round 1: Sold Out
- Seed Sale Round 2: Sold Out
- Presale: BSCStarter.Finance
- April 1st, 2021 @ 12:00pm EST
- 15,000 $BNFY @ 1 $BNB : 25 $BNFY (0.04$BNB)
- IDO: Pancake Swap
- April 1st, 2021 @ 1:00pm EST
- Listing Price: 1 $BNB : 10 $BNFY
- Liquidity: 300 BNB + 3,000 BNFY
- Locked: 365 Days (1 Year)
Pre-sale Time: 05 Mar 2021 - 19 Mar 2021
Pre-sale Price : 1 BNFY = 0.02 BNB
ICO Time: 01 Apr 2021 - 30 Apr 2021
ICO Price: 1 BNFY = 0.04 BNB
Accepting: BNB
- Presale: BSCStarter.Finance
Would you like to earn TOKEN right now! ☞ CLICK HERE
How and Where to Buy BNFY Finance (BNFY)?
BNFY 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 BNFY
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 BNFY is an altcoin we need to transfer our coins to an exchange that BNFY can be traded. Below is a list of exchanges that offers to trade BNFY 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 BNFY from the exchange: BSCStarter.Finance
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 BNFY 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 BNFY
☞ Website ☞ Explorer ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3
🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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