Isolated Lending Market for BIFI on Venus Mainnet

Venus Governance Venus - Governance Proposals
1

Summary:

Beefy proposes the addition of BIFI as collateral to Venus ETH market adding it to the Isolated lending market.

Background:

Beefy is The Trusted Yield Optimizer that helps users to safely and securely auto-compound yields on their crypto. Beefy’s cutting-edge web app delivers hundreds of DeFi yield opportunities from dozens of chains in a single, easy-to-use service.

Benefits:

Adding BIFI to Venus isolated markets will offer numerous advantages to both BIFI holders and Venus users. It will enhance liquidity and provide a wider range of investment choices.

Additionally, this move will bring Beefy users and Venus closer together, making Venus the primary platform for borrowing and lending BIFI.

Incentives:

  • The Beefy team will bootstrap the market with $30K USD worth of BIFI token’s.
  • Beefy will provide support from our social media reach and broad community.

Specifications:

  • Token Address:

0xb1f1ee126e9c96231cc3d3fad7c08b4cf873b1f1

  • Price Oracle:

https://pyth.network/price-feeds/crypto-bifi-usd

Liquidity:

BIFI is available for trading on Binance and has vast liquidity on ETH.

Also can be traded as MooBIFI (BIFI staked version) on optimism with 1.3M in liquidity.

Uniswap pool: 0xfba26c3f9c8ecef989def3c5c8ad037487462d83

Optimism pool: 0x6ed6df1c23c51cb7cc67a348cc8d9e6108ea3bfe

Docs:

Audits:

Social Media links:

Twitter:

https://twitter.com/beefyfinance

Telegram:

t.me/beefyfinance

Discord:

discord.gg/beefyfinance

3 Likes
2

Good idea. Hope Bifi will add Venus vaults on BNB and ETH chains.

3

bifi is a long time player in the market, so there will be demand for the token, I’m in favour.

4

Supported. We should just continue to ensure Chaos lab is doing their thing to ensure risk management.

5

Looking forward to see $BIFI on Venus <3

6

Good proposal!! We’re glad to cooperate with beefy!!
I hope BIFI can be put on the shelves of BSC and ethereum soon