BiFi Price (BIFI)

What Is BiFi (BIFI)?

BiFi (Bifrost Finance) is a multichain DeFi project powered by Bifrost's multichain technology. BiFi connects not only Ethereum based tokens, but also other tokens from different blockchains such as Bitcoin, Tron and Klaytn. BiFi will offer multichain wallet, lending, borrowing, and staking services, as well as yield farming rewards and other multichain investment products.

What makes BiFi unique?

• Bifrost: BiFi is powered by the multichain technology of Bifrost. With Bifrost, BiFi can use different tokens and coins from different blockchains and protocols on its services. Through multichain connectivity, BiFi will lower the gas fees, increase accessibility, and expand the ecosystem to enable more innovative financial products to more people.

• Bifrost Wallet: Bifrost Wallet is a multichain wallet that supports multichain DeFi products and services on BiFi. Users can use multichain services such as lending and borrowing using Bifrost Wallet.

• Security Focused: Hacks and frauds have tainted the blockchain ecosystem. Our team of hackers, researchers, and security experts are dedicated to maintaining the highest standards of security. With us, you can securely put your money to work.

What are its use cases?

BIFI token serves multiple functions on BiFi's multichain DeFi platform. It can be used as a governance token, used to vote on proposals to enhance or submit proposals for BiFi. It can also be used as a currency to pay for multichain DeFi services on BiFi.

How Many BiFi Tokens Are There in Circulation?

Of the total supply of BiFi tokens, 15% is allocated to teams. 15% is allocated to the treasury. 20% is allocated for each following: Staking and Pooling. 40% is allocated to rewards for lending service. Total of 1 billion BiFi is going to be distributed in 4 years; however, the distribution schedule is subject to change due to the governance system. When all BiFi tokens are distributed, 1 billion, then 2% of the total BiFi tokens will be created and distributed every year. 

 ## Who Are the Founders of BiFi?

Bifrost was founded in 2016 by two professors to develop blockchain applications to solve social issues and business problems. In the process, they saw the potential and limitations of blockchain technologies. There were many protocols, all with their own strengths and weaknesses, and no way to combine them. So they created Bifrost, a technology platform that allows developers to easily build on multiple blockchains that truly enables multichain technologies.

In 2019, the Bifrost team decided to create BiFi, the multichain DeFi project, to demonstrate the full potential of Bifrost. The DeFi ecosystem, much like the DApp ecosystem, is limited to Ethereum and hampered by soaring gas fees. With multichain, BiFi will solve these issues, lowering gas fees, increasing accessibility, and expanding the ecosystem. Leveraging our team's expertise in finance and cybersecurity, the Bifrost team will continue to introduce new investment products that leverage the new multichain DeFi ecosystem.

As the CEO and co-founder of BiFi and Bifrost, Dohyun Pak has developed and managed complex derivative products for financial institutions in the U.S. and Korea for over a decade. He received his PhD in financial engineering at the University of Michigan, Ann Arbor. Dohyun currently serves as a professor of mathematical finance at Gachon University.

JongHyup Lee, CTO and co-founder of BiFi and Bifrost, currently serves as a professor of mathematical finance at Gachon University. After receiving his PhD in computer science at Yonsei University, he presented his research at top-tier conferences as a post-doctoral researcher under Dr. David Brumley at the CyLab at Carnegie Mellon University. He also co-founded PPP, the leading hacking team in the world.

Changhyun Yoo, COO and co-founder of BiFi and Bifrost, graduated early from Seoul Science High School and went on to study Computer Science at KAIST. He has developed countless financial platforms for leading financial institutions for over a decade. Believing that the future of finance is in blockchain, he co-founded Bifrost, where he steers the diverse talents of the team.

Soso, CMO and co-founder of BiFi and Bifrost, was previously a medical doctor and currently one of the leading cryptocurrency influencers in Korea. His passion for cryptocurrencies and expertise in blockchain led him to found Block Crafters Capital, a blockchain-focused venture capital, where he supported the growth for more than 30 companies.

Today, BiFi is a team of 30 with deep and extensive experience in finance and computer science, from quantitative trading and fintech development, to hacking and network security. Their advisors are from leading blockchain and technology organizations, including Coin Plug, Blockwater Management, Block Crafters, and KAIST Engineering.