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What is Hifi Finance Coin (MFT) and how does it work?

by Financial Economy

Hifi Finance, formerly Mainframe, is a lending protocol that allows anyone to borrow against their own crypto. The platform enables buying and selling tokenized debt, flat rate, fixed term lending and borrowing. Detailed information about what is Hifi Finance coin (MFT), how does it work, how much it costs, how to buy, etc. is in the continuation of the content. Information about Ontology Gas coin (ONG) you can browse here.

What is Hifi Finance Coin (MFT) and how does it work?

The Mainframe Token (MFT) is a utility token and is used when:

  • Management votes
  • Staking to secure the protocol
  • Reward those who contribute to the ecosystem

Hifi Lending Protocol, on the other hand, offers users the following opportunities:

  • Debt: Users can lock collateral in a vault to issue fixed-rate, fixed-term debt tokens. These debt tokens can be exchanged for instant liquidity that allows users to pursue long leverage, yield farming or other strategic transactions without selling their collateral tokens.
  • Lending: Users can purchase fixed-rate, fixed-term debt tokens for a discount. When the period ends, they can be used for par value, giving lenders a predictable return on their investment.
  • Liquidity: Users can earn transaction fees by providing liquidity between debt tokens and stablecoins in the automated Market Maker (AMM).

Additionally, Hifi (formerly Mainframe) was founded in 2017 by Mick Hagen. Throughout 2018 and 2019, the team released a decentralized chat app and a decentralized operating system, but neither product received significant attention. The team turned to DeFi in 2019 and started working on a decentralized lending and borrowing platform. In February 2021, Mainframe was officially rebranded as Hifi.

Where to buy Hifi Finance coin (MFT)? How much is the MFT coin price?

Hifi Finance coin (MFT) is listed on many cryptocurrency exchanges and can be purchased from these exchanges. But before trading, it is necessary to make sure that the stock market is reliable. As of October 21, 2021, 1 MFT coin is around $0.013. (Price may change instantly.)

Caution: The information contained in this content is for informational purposes only. It is not investment advice.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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