Introduction to BitFarms
Through a set of investment strategies secured and enforced by smart contracts, BitFarms network automatically maximizes the user rewards from various liquidity pools (LPs), automated market making (AMM) projects, and other yield farming opportunities in the DeFi ecosystem.
The main product offered by BitFarms network are the 'Vaults' in which you stake your crypto tokens. The investment strategy tied to the specific vault will automatically increase your deposited token amount by compounding arbitrary yield farm reward tokens back into your initially deposited asset. Despite the name 'Vault' suggests, your funds are never locked in any vault on BitFarms network: you can always withdraw at any moment in time.
DeFi applications are unique in the sense that they are permission less and trustless, meaning that anyone with a supported wallet can interact with them without the need for a trusted middleman. While you have funds staked in a vault, you remain 100% in control of your crypto.
$BFS tokens are 'dividend-eligible' revenue shares in BitFarms network, through which holders earn profits generated by BitFarms network and are entitled to vote on important platform decisions.
For all the vaults deployed on every blockchain, BitFarms network has its native governance token $BFS at its core. Platform revenue is generated from a small percentage of all the vault profits and distributed back to those who stake $BFS.
The revenue sharing mechanics entail you can stake $BFS to either earn more $BFS in a BFS Vault, or earn $ETH, $BNB, $FTM, $MATIC, $AVAX, $HT, $ONE, $CELO or $MOVR in the native staking pools.