Topic: [ANN]⚡️DeFireX - Safe Yield Farming 🔸 DAI 🔸 ETH 🔸 USDC 🔸 wBTC 🔥 ~35% APY 🔥 - page 3. (Read 1376 times)

Yes, DeFireX allows you to invest and get the maximum income, and also automatically fixes COMP in stablecoins every day

Can you explain me more detailed how can I get additional profit from COMP tokens with loans, where on Compound can I get loan in DAI tokens, what I need for it and what will be an interest rate per month? When I’ll exchange loaned DAI tokens on COMP will I for sure get the main 3.2% and an additional ~ 6% interest on it in COMP tokens if I’ll exchange some COMP tokens on DAI every month to pay per cents for my loan?

20 February 2021 — The DeFireX project team has developed and launched smart contracts using a bridge, implemented jointly with the xDAI project team. This approach allows users to participate in the farming of projects working on the Ethereum network with the same level of reliability and without the need to pay large commissions.

In the current iteration of the system, users can participate in liquidity farming of Compound, which allows them to earn 25-35% APY in DAI tokens. Placement of DAI will cost about $0.25, whereas the same transaction in the Ethereum network would currently cost about $150.

By placing DAI in the DeFireX smart contract on the Binance Smart Chain (BSC) network, users receive dDAI tokens with profits accrued on them in DAI. dDAI can be exchanged to DAI through the bridge that connects the BSC and Ethereum network. dDAI tokens are fully backed by DAI hosted in the Compound project and can be transferred between the BSC and Ethereum networks. The project team maintains a limited pool in the BSC network for exchanging DAI for dDAI. dDAI are always backed by DAI at 100% in the Ethereum network. Thus, users do not need to rely on the DeFireX team, since, by resorting to the bridge (link), they can independently transfer dDAI to the Ethereum network and exchange them for DAI.

In the current contracts, the functionality of farming COMP tokens is implemented by means of placing positions in DAI and fixing 25-35% APY in DAI. However, it will be possible to launch reliable farming mechanisms in the near future with APY ranging from 14 to 20% using ETH and BTC with BSC backing.

The DeFireX team plans to provide access to farming on Uniswap, 1inch, and other popular DeFi platforms directly from BSC with minimal commissions for users by implementing cross-chain interaction. This will allow access to the best DeFi services for generating liquidity and income with minimal commissions.

The bridge accepts liquidity in BSC tokens and provides the corresponding amount of liquidity locked in Ethereum through a mechanism of decentralized relays. All BSC tokens are always backed by ETH at a 1 to 1 ratio. The bridge is not controlled by the owners of the system and has no WhiteLists. In addition, the bridge already allows users to freely move ERC-20 tokens.

The farming mechanism is built on proven DeFireX.org technology, which has been tested repeatedly by international auditors. The system is completely transparent, allowing anyone to review accounts, source codes, and holders of funds at any time. The service provides an opportunity to reliably receive high levels of income via Yield Farming.

At present, the levels stand at:

·         DAI - 22.5% APY annually

·         USDC - 22.5% APY annually

·         ETH - 12.9% APY annually

All rewards are automatically accrued on a daily basis free of charge for users. The rewards are made available for withdrawal in the users’ personal accounts and are protected from loss under any market conditions.

More information: https://www.binance.org/en/blog/defirex-launches-farming-on-ethereum-directly-from-binance-smart-chain/
https://twitter.com/DeFireXorg/status/1371040649395458049

Thank you! We will fix it.



Yes, this is true. We reduce fees using BSC bridge and decreasing number of transactions.
You can take part in pools. Just connect your wallet and start getting profit.



Interaction with the Compound is very expensive for an ordinary user, we combine users' liquidity into one pool to reduce the cost of transactions. We also increase your position in the Compound by using a flash loan, which is 4 times faster, you get 4 times more COMP tokens and, accordingly, profit. This functionality is available using the DeFireX smart contract.



First of all we are going to release these pools. Please, wait for our official announcement about adding new pools. You can follow our Twitter and Telegram to stay tuned. Also, we will make posts about all updates and further plans on Bitcointalk. 



We have passed the audit by Pessimistic.io , you can check it here:
https://github.com/pessimistic-io/audits/blob/main/DeFireX%20Security%20Audit%20by%20Pessimistic%20Public.pdf

We also submitted audit for Binance Smart Chain bridge, it will be published soon.




Our own mining pool for our DFX token will be available next week, everyone can join it.
For now you can take part in DAI and ETH Defirex pools. Connect your wallet and use yields.

We can solve this problem by minimizing the number of transactions in liquidity pool and user requests. With this solution fees on Uniswap and other Blockchains will be lower.



We have DFX token airdrop for active users of the DeFireX platform.
Governance DFX tokens will be distributed among  active users of the platform who have a balance of at least $100 and subscribed to the main social media networks of the platform.
We already have a Bounty campaign with payments in DAI, we do not conduct it in the DFX token, as it is planned to create a shortage of tokens on the exchange.



Profitability is volatile and depends on many factors. Soon we will announce new farming mechanics that will bring in from 70 to 180% in stabletokens
You can find all the calculations, examples, and risk descriptions in our Medium article: https://defirex.medium.com/how-it-works-6db8679052ad



100,000 tokens will be used for Airdrop that will take place in March.
100,000 tokens is only 1% of the total volume. Let me remind you that 30% of all funds will be directed to the buyback of tokens, which will lead to a gradual stable growth of the DFX token

Hello! I've just find out your project and it seems quite interesting for me. However I never used such platforms for mining. Did I correctly understood, you have your own pool to mine your tokens, so I can connect to it and to mine your tokens from my comp?

DeFireX minimizes the commission by minimizing the number of transactions through pooling liquidity and other user request.


Any good BSC, ERC20 compatible wallet

Can't see anything about project audit here. Did you make it? Github page is working but I want to take part only if you have wog or hacken audit

Yupz, they have a quite small total supply comparing to the average cryptocurrencies in the current space but it decent I thought

Most average as you mentioned that low supply will have a high price but still there is a chance the contrary will happen

I am also curious about this, they just explain how the model works but the technical part and basic elements of Tokenomics not yet released

Btw, The total supply is 10 000 000 DFX tokens
A small total supply should have a high price

Seems profitable because of using stablecoins for farming. Do you have plans to add other coins besides wBTC and DFX that have already been mentioned?

So DeFireX model is suitable for both beginners and those who have been in farming for a long time. It is good when system is friendly with beginners also

If you work directly with Compound, what are the benefits of using your platform instead of Compound?

As I see you made BSC liquidity mining with comission about 0.3-0.4 $
Hope this is true and I am able to connect my binance acc

Hey, i was taking a look at your thread and the link to GitHub is wrong, you should change it for this one: https://github.com/DeFireX

Nice platform and nice project, I'm not a big fan of the tokens but I see all the effort behind this project, So, I wish you great luck with it.

So DFX token distribution is through the airdrop, as long as an user have $100 in their account balance, she will be splashed. This mean all of token supply will be airdroped or will the airdrop determine how much the total supply will be?
If looking at the user balance listed on the website, I think many people will participate in the airdrop.

Well, what’s the actual profit for annum? Here you say up to 50%, your posts say up to 40%. And actually up to 30%, lol?

You have the point,  BSC has lower fees
But it is interesting to look forward to how the BSC chain will look in terms of adoption when eth 2.0 is activated.
Btw,  I like DeFireX idea of yield farming with a stable coin, it's gonna rock on the crypto market

At the moment I guess it's metamask wallet only, hope they can give us more wallet option in the future

I don't see they have a plan to decrease eth network fees, from my understanding they just give us a chance to take a part in liquidity mining through BSC (cross-chain bridge) which is we all know that BSC has lesser fees compared to eth network/erc20, cmiiw

So you mean there must be an airdrop event in the future? apart from the bounty program right?
it was very good. Surely the event will invite a lot of attention from the wider community as well as investors who will also enjoy DeFireX services