bEarn.Fi Introduces bPower Staking through its Innovative Loyalty Program

bPower staking is a loyalty program that allows for NFT staking to earn staking rewards in BDOv2 and bDEX whilst building a strong and loyal community.

By
Chung Yee
on
June 25, 2021
Category:
BSC News

Innovative Loyalty Program

It has been a tumultuous journey for the bEarn.Fi team after the recent exploit that has drained the BUSD vault off $10.86 million. This event  tested the team’s resilience and its community’s support. After a series of reparative actions to patch the vulnerabilities, to structure a holistic compensation plan and efforts to regain the confidence of its community, bEarn.Fi is now back on track. Moving on to the second leg of its loyalty program after the initial launch of bPower, the team is now ready for loyalty staking.  

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Whilst understanding that the most important part of every DeFi ecosystem is the community members, efforts must be deployed to retain loyalty. The people that gave their trust, support and dedication to the team and the platform deserve to be rewarded. The bEarn.F team recognises this invaluable contribution. On April 30, 2021 in an effort to reward its community, a loyalty program, bPower was launched. 

The program introduces 3 levels of loyalty which are, Diamond Hand, Platinum Hand and Golden Hand with limited slots. The loyalty program rewards loyalty and encourages further participation in the ecosystem. These loyalty slots are issued as Non Fungible Tokens (NFTs) with reward benefits. The response has been astounding and its first two tiers, namely, Diamond Hand and Platinum Hand were sold out. 

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NFT Staking Functionality

The benefits for its holders are through weekly distribution of shared profits, active curation of creators’ NFTs, staking the bPower index in farming pools and priority for Initial DEX Offering (IDO) launches. Now the purchasers of the loyalty slots can participate in NFT staking. The process to stake the NFTs are as follows:

The holders of bPower will also receive additional bDex as compensation for the delay in progress. The distribution of the bDex shall be based on the loyalty level of the holder. The compensation structure is as follows:

  • Diamond hand will get 10 bDEX
  • Platinum hand will get 5 bDEX
  • Golden hand will get 1 bDEX

Towards a Strong Community and Active Participation

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The loyalty programme is an innovative way to encourage active participation from its community. It was designed in a way to increase active participation from its loyal community members through an incentivized scheme. bEarn.Fi has been growing its community and user base steadily. 

With more functionality products  that will be added to its platform progressively, the community will grow. Hence the effort to retain those that had remained through thick and thin with the platform is commendable. bEearn.Fi has plans to launch a new user interface, an NFT marketplace, bLottery V2 and further partnerships.   


Understanding bEarn.Fi

The Decentralized Finance (DeFi) market continues to grow, platforms have to carve a niche to remain competitive. bEarn.Fi is a cross-chain product that offers DeFi functionalities such as yield generation, algorithmic stablecoin, bridge, gaming aggregation, treasury and Automated Market Maker (AMM)Decentralized Exchange (DEX). The platform operates to serve the community hence the governance protocol is a community centric system that allows for the BFI and BFIE token holders to submit and vote on proposals that will govern the ecosystem.

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Chung Yee

Chung Yee has a legal background and has been involved in research works for the legal and compliance industry. Writing is his passion, centered on topics such as the blockchain and finance. His largest crypto holdings are Solana, Ethereum, and BNB Token.

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