What is Bifi

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About BiFi

Key Points

BiFi is a multichain DeFi project powered by Bifrost’s multichain technology.
It connects tokens from different blockchains, including Ethereum, Bitcoin, Tron, and Klaytn.
BiFi offers multichain wallet, lending, borrowing, staking, and yield farming services.

What makes BiFi unique?

Bifrost’s multichain technology enables connectivity with different blockchains.
Bifrost Wallet is a multichain wallet that supports multichain DeFi products and services.
Security-focused with a team of hackers, researchers, and security experts

About BiFi: Empowering the Future of Decentralized Finance

Introducing BiFi (BIFI): A Comprehensive Overview

Bifrost Finance, abbreviated as BiFi, is a pioneering multichain DeFi project, empowered by Bifrost’s cutting-edge multichain technology. By bridging the gap between disparate blockchain ecosystems, BiFi seamlessly connects not only Ethereum-based tokens but also a diverse array of tokens from alternative blockchains, including Bitcoin, Tron, and Klaytn. This innovative platform will offer a comprehensive suite of services, encompassing multichain wallets, lending and borrowing facilities, staking opportunities, and yield farming rewards, as well as a diverse range of multichain investment products.

What Sets BiFi Apart?

Empowered by Bifrost’s cutting-edge multichain technology, BiFi seamlessly integrates tokens and coins from diverse blockchains and protocols, thereby reducing gas fees, enhancing accessibility, and expanding the ecosystem to facilitate the development of innovative financial products for a broader audience.
The Bifrost Wallet is a versatile, multichain wallet designed to support a wide range of multichain DeFi products and services on BiFi, enabling users to access a variety of services, including lending and borrowing, within a single, intuitive interface.
Security is our top priority. In an ecosystem marred by hacks and fraud, our team of expert hackers, researchers, and security specialists is committed to upholding the highest security standards, ensuring that your investments are safeguarded and your confidence is well-placed.

Bifrost: BiFi is empowered by the cutting-edge multichain technology of Bifrost, which enables seamless interactions with diverse tokens and coins from various blockchains and protocols. By harnessing the power of multichain connectivity, BiFi is poised to significantly reduce gas fees, enhance accessibility, and expand its ecosystem, thereby paving the way for the development of more innovative financial products that cater to a broader audience.

Bifrost Wallet: Introducing Bifrost Wallet, a cutting-edge, multichain wallet that seamlessly integrates with multichain DeFi products and services on BiFi, empowering users to effortlessly access and utilize a diverse range of multichain services, including lending and borrowing, all within a single, intuitive interface.

Security Focused: The blockchain ecosystem has been marred by hacks and frauds. Our team of seasoned hackers, researchers, and security experts are committed to upholding the most stringent security standards, ensuring that your investments are safeguarded and your assets remain secure.

What Are the Diverse Applications of This Technology?

The BIFI token assumes a multifaceted role within BiFi’s multichain DeFi ecosystem, serving as a governance token that empowers holders to vote on proposals or submit their own initiatives to drive platform enhancements. Additionally, it functions as a currency, facilitating seamless payment for multichain DeFi services on BiFi.

The Circulating Supply of BiFi Tokens: A Closer Look

Of the total supply of BiFi tokens, 15% is earmarked for the team, while another 15% is reserved for the treasury. The remaining allocation is divided equally between Staking and Pooling, with each component accounting for 20%. Meanwhile, a substantial 40% is dedicated to rewards for the lending service. The total supply of 1 billion BiFi tokens is slated for distribution over a four-year period, although the distribution schedule remains subject to adjustments via the governance system. Upon the completion of the initial distribution, an additional 2% of the total BiFi tokens will be created and distributed annually.

The Visionary Founders Behind BiFi

Bifrost was established in 2016 by two visionary professors who sought to harness the potential of blockchain technology to tackle pressing social issues and business challenges. As they delved deeper, they identified both the strengths and limitations of various blockchain protocols, each with its unique advantages and drawbacks. However, they soon realized that there was no seamless way to integrate these disparate protocols. This epiphany led to the creation of Bifrost, a pioneering technology platform designed to empower developers to effortlessly build upon multiple blockchains, thereby unlocking the true potential of multichain technologies.

In 2019, the visionary Bifrost team embarked on a mission to create BiFi, a pioneering multichain DeFi project, designed to unlock the full potential of Bifrost. The DeFi ecosystem, much like its DApp counterpart, was constrained by its reliance on Ethereum and plagued by exorbitant gas fees. By harnessing the power of multichain technology, BiFi is poised to overcome these limitations, drastically reducing gas fees, enhancing accessibility, and expanding the ecosystem’s scope. Building on their expertise in finance and cybersecurity, the Bifrost team will continue to innovate, introducing novel investment products that capitalize on the vast opportunities presented by the new multichain DeFi ecosystem.

As the CEO and co-founder of BiFi and Bifrost, Dohyun Pak boasts an impressive track record of developing and managing intricate derivative products for esteemed financial institutions in the U.S. and Korea, spanning over a decade. Holding a PhD in financial engineering from the University of Michigan, Ann Arbor, Dohyun currently serves as a professor of mathematical finance at Gachon University, leveraging his expertise to nurture the next generation of financial leaders.

JongHyup Lee, CTO and co-founder of BiFi and Bifrost, concurrently holds the position of professor of mathematical finance at Gachon University. Following the completion of his PhD in computer science at Yonsei University, he showcased his research as a post-doctoral researcher under the esteemed Dr. David Brumley at the CyLab, Carnegie Mellon University. Notably, he is also the co-founder of PPP, the world’s preeminent hacking team.

Changhyun Yoo, COO and co-founder of BiFi and Bifrost, boasts an impressive academic background, having accelerated his studies at Seoul Science High School and subsequently pursuing a degree in Computer Science at KAIST. With over a decade of experience in developing cutting-edge financial platforms for prominent financial institutions, he has cultivated a profound understanding of the industry. Convinced that the future of finance lies in blockchain technology, he co-founded Bifrost, where he harnesses the diverse talents of his team to drive innovation.

Soso, CMO and co-founder of BiFi and Bifrost, transitioned from a successful career as a medical doctor to become one of Korea’s most prominent cryptocurrency influencers. His fervent passion for cryptocurrencies, coupled with his expertise in blockchain technology, inspired him to establish Block Crafters Capital, a blockchain-focused venture capital firm that has nurtured the growth of over 30 companies.

Currently, BiFi boasts a diverse team of 30 individuals, leveraging their profound expertise in finance and computer science, garnered from backgrounds in quantitative trading, fintech development, hacking, and network security. Notably, their advisory board comprises esteemed representatives from prominent blockchain and technology organizations, including Coin Plug, Blockwater Management, Block Crafters, and KAIST Engineering.