DeFi NFT Staking Platform BNFY Finance Launches Presale on IDO Launchpad BSCStarter

BNFY is a DeFi NFT staking protocol that makes yield farming more secure and flexible. The protocol allows users to stake their crypto assets inside of unique NFTs

By
BSCNews
on
April 1, 2021
Category:
Sponsored

The team at BNFY Finance has submitted the following information: 


BNFY Finance IDO

BNFY Finance is a new DeFi NFT Staking protocol on Binance Smart Chain (BSC). They are running a presale on the newest launchpad that’s shaking up the industry, BSCStarter. The presale or Initial Dex Offering (IDO) is set to take place on Thursday, April 1st, at 12pm EST on BSCStarter.finance. There will be 15,000 BNFY tokens available with a maximum allocation of 10 BNB per user, on a first come first serve basis. A seed sale that took place on March 15th was completely sold out within minutes so investors should be ready at launch to not miss out on this highly sought-after gem.

Potential investors will need to stake a minimum of 100 $START tokens on the platform at least 24 hours before the presale opens on April 1st. and have their BNB ready in their wallet in order to participate. Once the presale is filled, 50% of the funds raised will be locked away in a liquidity pool for 365 days on Pancake Swap.


About BNFY

BNFY is a DeFi NFT staking protocol that makes yield farming more secure and flexible. The protocol allows users to stake their crypto assets inside of unique NFTs. The NFTs are tradeable on the open market with their staked value wrapped within. A fork of the extremely successful NFY project on Ethereum, BNFY is the first to launch this protocol on Binance Smart Chain and certain to have similar or even greater success than the original Ethereum based project.

The BNFY smart contract was audited by Rug Detectives who also performed KYC on the lead dev behind the project to reduce the risk of a “rug pull” or exit scam. The smart contract passed with no issues or potential exploits so user funds will be safe on the BNFY protocol. While an audit adds an extra layer of security, it is important to note that audits aren’t the holy grail and smart contract risks can still be prevalent.

BNFY.Finance | Twitter.com/BNFYFinance | T.me/BNFYOfficial


NFT Staking

The new DeFi protocol allows users to stake their crypto assets into NFTs (Non-Fungible Tokens) using the ERC721 standard. In return, users will also earn the governance token of the platform, $BNFY. When a user stakes their tokens, the protocol mints a new NFT for them and all the details of the user’s stake are recorded on-chain to the token’s metadata. 

Since user’s crypto assets are staked on an NFT, this makes staking more secure and more flexible by allowing users to trade the NFTs on the open market. When users decide to liquidate, there’s no need to unstake and sell their assets, they can simply sell the whole NFT based on the current market value of all the staked tokens wrapped within it.



About BSCStarter

BSCStarter.Finance boasts itself as a community owned network for raising capital on Binance Smart Chain. Users can filter through the messy landscape where rugs overshadow the great potential of a growing ecosystem by voting yes on the projects they believe should make it through to the funding stage and voting no on the ones they think should not.

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

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