Formerly known as Mainframe, Hifi Finance is a lending protocol that allows everyone to borrow against their own cryptocurrencies. The platform enables the purchase and sale of tokenized debt, fixed-rate, and fixed-term lending and borrowing.
What is Hifi Finance (MFT)?
Mainframe Token (MFT) is a utility token and is used in the following cases:
- Governance voting
- Staking to ensure the security of the protocol
- Rewarding contributors to the ecosystem
The Hifi Lending Protocol offers users the following possibilities:
- Debt: Users can lock collateral in a vault to mint fixed-rate, fixed-term debt tokens. These debt tokens, exchangeable for instant liquidity, allow users to pursue long leverage, yield farming, or other strategic transactions without selling their collateral tokens.
- Lending: Users can buy fixed-rate, fixed-term debt tokens at a discount. At the end of the term, they can be used for nominal value, providing lenders with a predictable return on their investments.
- Liquidity: Users can earn transaction fees by providing liquidity between debt tokens and stablecoins in the Automated Market Maker (AMM).
In addition, Hifi (formerly Mainframe) was founded in 2017 by Mick Hagen. Throughout 2018 and 2019, the team released a decentralized chat application and a decentralized operating system, but neither product saw significant interest.
The team pivoted to DeFi in 2019 and began working on a decentralized lending and borrowing platform. Mick handed over the CEO role to Doug Leonard in early 2020. Doug, with a background in software development and IT security since 2018, was working at the company.
Doug restructured the team, acquired the token streaming protocol Sablier, and project founder and developer Paul Razvan Berg started working as the lead engineer. In February 2021, Mainframe was officially rebranded as Hifi.
Where to Buy MFT Coin?
MFT Coin can be purchased quickly and securely through Binance, the world’s largest cryptocurrency trading platform by transaction volume.
To buy MFT Coin, one must first sign up for Binance and then send a fiat currency like US Dollar. After sending a fiat currency, users can buy Tether (USDT), Binance Coin (BNB), Ethereum (ETH), and then perform purchasing transactions in the MFT trading pair.
Additionally, on Binance, users can place buy orders not only at market price but also at a lower price. To do this, use the Limit tab and simply enter the amount and price you want to buy at.
