BIFI Introduced BiFi X, A One-of-a-Kind DeFi Service
BiFi X can get you the maximum leverage in a single transaction using flash loans, instead of repeating depositing and borrowing ad infinitum. This is an entirely new application of flash loans to maximize and democratize the potential of DeFi lending.
IS IT BETTER?
- It’s simpler — anyone can do it with a few clicks with our intuitive UI
- It’s cheaper — one transaction is cheaper than multiple transactions
- It’s clearer — it was designed to track each position separately, so you can monitor the performances and close out positions one by one
Anyone can maximize their investment with flash loans and monitor their performance without any coding. BIFI is bringing the power of DeFi lending to everyone.
HOW IT WORKS?
Earn lets you maximize leverage for yield farming in a single transaction.
Example:
If you deposit 1 ETH, you can add 3 ETH in flash loans to deposit, and then borrow 3 ETH to repay the flash loan. You end up with 4 ETH in deposits and 3 ETH in borrows — earning BiFi rewards for 7 ETH worth, instead of 1 ETH you started with — getting 7x leverage.
Bet lets you maximize leverage for margin trading in a single transaction.
Example:
1 ETH is trading at 1,000 USDT, and you believe ETH price will go up. You can deposit 1 ETH on BiFi, add 3 ETH in flash loans to deposit, borrow 3,000 USDT, swap USDT for 3 ETH on Uniswap to repay the flash loan. You have 4 ETH in deposits and 3,000 USDT in borrows.
Both Earn and Bet requires BiFi X fee, a small amount paid in BiFi
BiFi Flash Loans
BiFi Flash loan is a DeFi-native service only possible on blockchains. It allows users to get uncollateralized loans that must be repaid within a single block. If it cannot be repaid, it reverts. Borrowers do not need any upfront capital, and it is risk-free for the lender. Flash loans enable anyone to participate in the market to arbitrage between DEXs or liquidate any underwater collaterals, without any upfront capital.
ABOUT BiFi
BIFI The first and truly multichain DeFi platform powered by Bifrost
RESOURCES
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