We propose to add BIFI to Cream for lending and borrowing. BIFI is the governance token of beefy.finance, a cross-chain yield optimizer with over $340M in TVL.
Add BIFI as collateral asset
Beefy Finance was the first yield optimizer on Binance Smart Chain, launching in September 2020 during the platform’s infancy. It has since expanded to HECO and AVAX, quickly accruing $5M in deposits on AVAX alone. Beefy currently has 180+ vaults and will continue to expand to new platforms.
BIFI serves as a governance and revenue sharing token. A percentage of vault profits are shared with token stakers. The token supply is fixed and all distribution has been completed.
Benefits for Cream
Beefy Finance is one of the most popular yield optimizers on BSC and is considered one of the DeFi “blue chips” on the platform. BIFI’s presence on Cream would provide additional TVL to Cream and an opportunity to earn additional fees as BIFI holders would come to Cream to collateralize their assets.
$10M on Pancake BIFI-BNB
$400k on Pancake BIFI-BUSD
$560k on Hyperswap BIFI-BNB
$690k on Apeswap
Available on Binance, MXC, Hotbit