Equity Overview
Price & Market Data
Price: $0.214
Daily Change: -$0.0193 / 9.02%
Range: $0.165 - $0.243
Market Cap: $35,658,818
Volume: 7,088,826
Details
Hifi Finance is a protocol that allows users to access instant liquidity against their digital assets, with a focus on serving NFT communities as its primary customer. Its core concept revolves around Hifi Tokenomics, which paves the way for full decentralization and autonomy of the Hifi Protocol and the establishment of the Hifi DAO.The Hifi Token (HIFI) is the governance token of the protocol, with a total supply of 126.25 million tokens. The token was introduced through a swap from the old MFT contract at a rate of 100 MFT per 1 HIFI pending a governance vote. 100 million HIFI tokens were redeemed by MFT token holders, while 25 million HIFI tokens were allocated to Hifi Labs for continuing development and support of the Hifi Protocol, vesting over two years. Additionally, 1.25 million HIFI tokens were airdropped to MFT holders participating in governance votes.The Hifi DAO is a distinct legal entity that governs the protocol through HIFI Token voting. Hifi Labs supports the protocol, ensures a smooth transition to the Hifi DAO, and fuels growth. Hifi DAO Governance uses Hifi Improvement Proposals (HIPs) to deploy actions and contracts on-chain. Hifi Token holders control the Hifi protocol and have the ability to deploy resources to drive widespread adoption of the protocol.The protocol policies and parameters are set through Hifi DAO Governance, and decisions regarding the protocol will be made by voting on proposals. The Hifi DAO may also decide to allocate rewards to applications that integrate with the Hifi ecosystem, with the power to create an Incentive Program to fund or reward those supplying liquidity to the protocol.