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Introduction
Last updated
Introduction
Last updated
Welcome to BONFIRE FINANCE, a stable algorithmic token pegged 1:1 with $cro,
It's a fork of Tomb Finance and is based on an Algorithmic Stable Coin. It's a Non-Collateralized stable coin pegged to the value of 1 CRO which makes it a lot more capital efficient and stabilized due to the true use-cases compared to its collateralized counterparts.
It's a fork of Tomb Finance and is based on an Algorithmic Stable Coin. It's a Non-Collateralized stable coin pegged to the value of 1 FTM which makes it a lot more capital efficient and stabilized due to the true use-cases compared to its collateralized counterparts.
The $BFIRE algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the CRONOS network.
The protocol's underlying mechanism dynamically adjusts $LROAD's supply, pushing its price up or down relative to the price of $FTM. Inspired by the original idea behind Basis as well as its predecessors (bDollar and soup), $BFIRE is a multi-token protocol that consists of the following three tokens:
-BONFIRE($BFIRE). -BONSHARE ($BSHARE) -BONBOND($BBOND)
BONFIRE Finance is built upon the great work of Tomb Finance, which created the first algorithmic token pegged to $FTM on the Fantom Opera network. With the promise of lucrative yields, numerous subsequent copycat forks have launched, many of which turn out to be low-quality, poorly managed, and downright dangerous to participate in. Our vision stems from the very reason of providing a secure ecosystem while enjoying the high yields that a tomb fork has to offer. We'll be launching on additional chains and protocols where all these protocols on different chains will complement each other via complex mechanics.
