BiFi X is a one-of-a-kind DeFi service that enables you to get maximum leverage in a single transaction using flash loans on yield farming and margin trading positions. It is an entirely new application of flash loans to maximize and democratize the potential of DeFi lending.
Yield farming and leverage trading are the most popular use cases for DeFi lending protocols. You can repeat the process of depositing and borrowing multiple times to reach maximum leverage.
While this is useful, it has obvious drawbacks:
1. It's repetitive — it can take 10 or more transactions to get leverage
2. It's expensive — more transactions mean more gas fees
3. It's confusing — once you have multiple positions open, all the deposits and borrows become added up — making it impossible to track how your position is doing and to close out positions
This has made it difficult for the average user to begin leveraging DeFi services like BiFi.
BiFi X solves this problem by enabling leverage in a single transaction with flash loans and allowing users to easily monitor and manage their positions separately.
1. It's simpler — anyone can do it with a few clicks, instead of repeating transactions several times.
2. It's cheaper — one transaction is cheaper than multiple transactions.
3. It's clearer — it was designed to track each position separately, so you can monitor the performances and close out positions one by one.