BiFi Buyback & Burn

BiFi has executed a buyback and burned 1,793,253 BiFi tokens with a portion of the protocol revenue to benefit all the ecosystem stakeholders equally.

Decentralized Finance (DeFi) is pioneering the future of finance — making finance more permissionless, transparent, and accessible through blockchain technology. Yet without interoperability, DeFi markets remain isolated on each blockchain, competing for users and assets.

BiFi is the Multichain DeFi Project built on BIFROST born with the mission to solve this issue and to create a decentralized financial infrastructure that connects all the capital markets — allowing capital to flow seamlessly from one blockchain to another, without any wrapping, bridging, or custodians.

Since launching in January 2020, BiFi has operated lending and staking protocols on Ethereum and BSC, and unlike other protocols, it interoperates between the two chains to synchronize the market data. In less than 6 months, BiFi has grown to serve more than 8,000 wallets and manage $150 million in assets.

Such growth would not have been possible without all the users who provided the initial liquidity to the protocol, and to acknowledge their contribution, BiFi distributes its native governance and fee token, BiFi token.

To benefit all of our stakeholders, BiFi has executed a buyback and burn with its protocol revenue. Operational profit from BiFi will continue to be used to benefit the protocol, such as insurance reserves, development funds, and Ecosystem.

You can find the details of this buyback and burn below.

~1,793,253 BiFi

0x12d2191342f73025e8829cc5101285cbccbf202a737a66f7395e65727a731c76

0x225686b897d9bfde16e57f9666bef28ad9f483bf0ec7b740d9bc59d1d44c8fad

0xb915c59d39f14cac987e32488a811ab0fc124e755299c770284d098cab9b0274

0x6a5e27da5523fb252e3b1771643d29f889cab942a031c552844853428af848b1

0x2ae0d1a537df37d964021e3d9968e712d03ef666852ee3e5d3c080074c6afb40

0xc02efed60f60438c6031aa06dbfe181091b2e8da5239c2d1ded54de4b53c4cab

0xaae4a4cf91f41c37d607c7730f855c0b651c4f6b92944b2acc087a8743baefca

0xb417f045c3501ca7704796f023c0a9865b0036cc366c96216bd73f0f566ad0ba

Powered by Bifrost’s multichain technology, BiFi is the multichain DeFi project that will connect not only Ethereum but also other blockchains like BTC, BNB, DOT, and KLAY, thereby expanding the DeFi ecosystem currently limited to Ethereum. Through this multichain connectivity, BiFi will lower the gas fees, increase accessibility, and expand the ecosystem to enable more innovative financial products to more people.

Source: https://medium.com/bifrost/bifi-buyback-burn-531754c6efcc?source=rss——-8—————–cryptocurrency