Hifi Finance

Hifi Finance

MFT
$0.00520904%-2.73

Key Metrics

Price$0.00520904
Real Volume (24H)$6,283,095
Marketcap$48,714,928
Fully Diluted Valuation$51,898,637
ATH$0.03490552
ATH Date4/3/2021, 3:45:08 AM
ATL$0.00039058
ATL Date3/13/2020, 5:24:16 AM
Circulating Supply9.4B
Total Supply10B
WebsiteN/A
WhitepaperN/A
Popularity Rank366
Chart
What is Hifi Finance?

Hifi Finance (MFT) is a decentralized blockchain platform designed to enable users to send data, store files, and manage payments. Previously known as Mainframe (MFT), Hifi Finance (MFT) serves as a lending protocol that aims to allow individuals to borrow against their cryptocurrency. According to the Hifi Finance (MFT) whitepaper, the platform aims to establish lending rates and allow trading of tokenized debts.

One of the main issues that the Hifi Finance (MFT) protocol seeks to solve is the liquidation of at-risk collateral accounts. The MFT Protocol suggests a liquidation architecture that prioritizes ecosystem participants and is designed to function efficiently even during intense volatility.

Hifi Finance (MFT) is the native token of the platform and operates as an ERC-20 token that enables community governance of the Lending Protocol. The MFT token can be staked, streamed, or burned. Streaming is a method of automating the acquisition of tokens over time, while burning is the process of making tokens irrecoverable by transferring them to a goal.

The MFT token aims to balance incentives within the system and is vital for the sustainability of protocol advancements. Throughout the Lending Protocol, MFT tokens are used to vote on governance recommendations, unlock discounts, acquire greater capital efficiency, additional protocol rewards, and access to extra leverage.

Moreover, MFT token holders are empowered to vote on changes to the Lending Protocol. These include counting new collateral asset types, modifying the risk parameters for collateral asset types, improving the price feeds, changing crisis shutdown procedures, triggering emergency shutdown, and boosting the system.

Mick Hagen founded Mainframe, which launched its whitepaper in July 2020. The maximum total supply of MFT tokens is 10,000,000,000.

In conclusion, Hifi Finance (MFT) is a blockchain platform that aims to facilitate decentralized applications and lending protocols. The MFT token, a native token of the Hifi Finance (MFT) platform, plays a critical role in governance and sustainability within the Lending Protocol. Additionally, the platform seeks to address issues such as liquidation of at-risk collateral accounts through its liquidation architecture. Hifi Finance (MFT) offers a robust system for cryptocurrency users to borrow against their holdings while enabling community governance of the platform.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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