Hifi Finance (formerly Mainframe) is a lending protocol that allows anyone to borrow against their digital assets. Hifi uses a bond-like instrument, representing an on-chain obligation that settles on a specific future date. The tokenized debt enables fixed-rate, fixed-term lending and borrowing.
Mainframe Token (MFT) is the native utility token of Hifi Finance, and has the following use cases:
- Governance: MFT token holders can participate in the protocol governance, and vote on improvement proposals.
- Ecosystem Rewards: Rewarding contributors to the ecosystem.
The Hifi Finance platform consists of the following components:
- Borrow: Deposit collateral in a vault to mint fixed-rate, fixed-term debt tokens. These debt tokens can be swapped for instant liquidity allowing users to leverage long, yield farm, or pursue other strategic trades without selling their collateral tokens.
- Lending: Buy fixed-rate, fixed-term debt tokens for a discount. When the term expires they can be redeemed for face value, earning lenders a predictable return on their investment.
- Provide Liquidity: Earn trading fees by providing liquidity between debt tokens and stablecoins on an Automated Market Maker (AMM).
Hifi Finance (formerly Mainframe) launched its token in Q1 2018, with a total token supply of 10,000,000,000 tokens.