Trading BRC-20 tokens and Ordinals directly from digital wallets can be challenging, as buying and selling assets that run on the Bitcoin chain is not always straightforward. To simplify this process, the BeFi platform was created.
BeFi is a CeDeFi ecosystem, a blend of centralized finance (CeFi) and decentralized finance (DeFi). This approach bridges Web 2.0 users into the blockchain world, serving as a kind of interface.
What is BEFI?
BEFI is the native token of the BeDi project. It offers several advantages, such as low transaction fees, early access to BRC-20 protocol airdrops, and voting power.
Project History
Launched in 2023, the project aims to make life easier for those trading multiple cryptocurrencies through CeFi and DeFi platforms, bringing them all into a single application.
Founded by anonymous creators, the platform's goal is to serve as a meeting point for digital wallets trading BRC-20 and Ordinals assets on the Bitcoin network. Instead of using different applications, users can consolidate everything in one place.
BEFI Utilities
As a governance token, BEFI grants voting power in implementation assemblies for platform improvements. It also serves as a payment method for using applications within the ecosystem.
Tokenomics
BEFI has a total supply of 210 million units, allocated as follows: 29% for the initial funding round, 6% for the Initial DEX Offering (IDO), 10% for the Liquidity Bootstrapping Pool, 10% for the team, 20% for ecosystem growth, 15% for marketing, and 10% for liquidity.
One of the obstacles to using BRC-20 tokens and Ordinals was high fees incurred when buying or selling these assets. With tokens staked, fees are reduced, attracting more users to the ecosystem.
Platform Functionality
The BeFi system is innovative because it enables cryptocurrency trading directly from digital wallets. This eliminates the need to use multiple accounts or logins across various applications.
The idea is to simplify the trading of BRC-20 standard tokens on Bitcoin. With BeFi, transaction fees are reduced or even waived. Another advantage is the speed of operations.
BeFi’s architecture uses the zero-knowledge concept, which prioritizes privacy. Both parties in a transaction have access to the minimal amount of information about each other needed to securely complete the operation.
The platform also establishes a link with Ethereum. Every eight hours, transaction data processed via zero-knowledge is transmitted to Vitalik Buterin’s blockchain.
Tools to Track BEFI Prices on NovaDAX
By choosing NovaDAX as your cryptocurrency exchange, you gain access to the infrastructure of one of the largest exchanges in Brazil, offering BEFI and dozens of other digital assets in its portfolio.
Asset information is updated in real-time. You can track price fluctuations minute-by-minute or month-by-month using the candlestick chart.
Benefits of Investing with NovaDAX
Trade BEFI and dozens of other cryptocurrencies on NovaDAX, which offers the best rates in Latin America, making the blockchain world more accessible.
The exchange’s security system has A+ SSL certification, encrypting data between the server and the user's computer. Access is secured through two-factor authentication and Google Authenticator.
If you want to diversify your investments, sign up on the NovaDAX website and choose from the dozens of tokens available in the exchange's portfolio. Check it out!
