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BiFi is the Multichain DeFi Project built on BIFROST, the Universal Multichain Middleware. BiFi aims to create a decentralized financial infrastructure that connects all the capital markets currently isolated on each blockchain, and creates new products and services that interoperate across multiple blockchains.
In its first iteration, it offers decentralized lending and staking protocols on Ethereum and Binance Smart Chain. BiFi is not a fork of other protocols. It was built from scratch to optimize the algorithms for volatility risk and gas reduction and offer the most competitive interest rates and collateral ratios in the market. BiFi has received 3 external security audits.
BiFi plans to launch the multichain lending service in 2021. Deposit BTC, borrow ETH. No wrapping, no bridges. It also plans to release leverage solutions, multichain wallet, and multichain development suite for other DeFi projects to expand the multichain DeFi ecosystem.