About BiFi
Market Stats
Market Cap
$557.77K
1.46%
FDV
$1.16M
Circ. Supply
481M BIFI
Max Supply
1B BIFI
Total Supply
1B BIFI
Total Value Locked
$12.41M
Diluted Valuation
$1.16M
Performance
Popularity
Not enough data
Dominance
0%
Volume (24H)
$21.50K
17.9%
Volume (7D)
$157.18K
Volume (30D)
$603.27K
All time high
$315.15
Price Change (1Y)
-43.54%
Additional details
Market details
BIFI vs markets
↘ 66.8%
BIFI vs BTC
↘ 64.06%
BIFI vs ETH
↘ 63.83%
Tags
defi
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x2791BfD60D232150Bff86b39B7146c0eaAA2BA81 | |
Fantom | 0xAD260f380C9a30B1d60e4548A75010ede630B665 |
Price history
Time | Price | Change |
|---|---|---|
Today | $0.0012 | ↗ 2.02% |
1 Day | $0.0011 | ↗ 2.02% |
1 Week | $0.0010 | ↗ 10.77% |
1 Month | $0.0013 | ↘ 11.60% |
1 Year | $0.0021 | ↘ 43.54% |
FAQ
According to the whitepaper, BiFi (Bifrost Finance) is a DeFi platform built on Bifrost. Bifrost is a universal multichain middleware. This means it aims to bridge the gap between different blockchain networks. The platform seeks to provide lending and a trading platform. The platform attempts to create a decentralized financial infrastructure that connects all the markets. Further, the infrastructure aims to create new opportunities. The platform also claims to include an integrated development environment, operational tools, and security software.
According to the website, all the current decentralized finance services are limited to the Ethereum ecosystem. So, if a user seeks to trade in a digital asset that is not available on the Ethereum network, such a user can only do so by trading it through centralized finance. Such centralized finance comes with its liabilities and limits. Thus, BiFi came into the picture as it aims to support digital assets from different blockchain networks.
The primary function that the BiFi protocol provides is lending. The platform’s lending protocol aims to provide transparent yield rates and a smooth lending process for easy understanding of the user. The platform also offers a staking protocol. The users can stake their digital assets and earn staking rewards over time.
Bifrost Finance has its native cryptocurrency named as BiFi token. BIFI denotes the ticker name. The users who contribute and participate in the growth and maintenance of the platform are rewarded with the BIFI tokens. The BIFI token can be further traded on the platform for paying fees for decentralized finance products and services. Thus, the token serves as a governance token. This enables a holder of the BIFI token to have a vote share choosing the future of the platform.
The Bifrost Finance platform was launched in 2018. The platform’s whitepaper was released in December 2020. The founding team includes Dohyun Pak as the CEO, Jonghyup Lee as the CTO, and Changhyun Yoo as the COO. Along with them, Soso is the CMO of the platform.
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Social stats
Popularity in posts
#2012
Contributors
57
Posts
57
% About BiFi
0.009%
Hold times
0 days
X (Twitter)
57.42% bullish
Sentiment
4.2 ★
Highlights
57 unique individuals are talking about BiFi and it is ranked #2,012 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, BiFi has an average sentiment score of 4.2 out of 5. Finally, BiFi is becoming less newsworthy, with 0 news articles published about BiFi.
On Twitter, people are mostly bullish about BiFi. There were 67.04% of tweets with bullish sentiment compared to 16.76% of tweets with a bearish sentiment about BiFi. 32.96% of tweets were neutral about BiFi. These sentiments are based on 209 tweets.
On Reddit, BiFi was mentioned in 1 Reddit posts and there were 2 comments about BiFi. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Legal
Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset.
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