Summary Reduce rewards for lending and borrowing by 40%. The reduced volume of BiFi tokens would be used as rewards when BiFi extends to other blockchain networks and new financial services.

Objective BiFi was launched in January 2021 and rewarded BiFi tokens to users who lend or borrow assets on BiFi to grow our ecosystem. To become a DeFi for all, BiFi aims to connect more blockchain networks, including EVM and non-EVM. To successfully expand our services on new blockchain networks and launch new financial services, it is essential to acknowledge the contributions of early users.

With BDP-001, BiFi can allocate rewards on new financial services and lending and borrowing rewards on various blockchain networks. If the proposal passes then rewards for deposit and borrow will be reduced by 40% and the reduced amount will be used as rewards on other blockchain networks and financial services to expand our ecosystem and to become a DeFi for all.

Next Steps: If you support this proposal, you can vote on this proposal.