Hifi is a decentralized finance protocol that enables lending and borrowing of crypto at a fixed interest rate.

Hifi consists of decentralized interest rate markets that mature on specific dates. These markets use an Automated Market Maker model, where users supply tokens to liquidity pools and an algorithm determines the interest rate based on supply and demand.

Users can supply liquidity, borrow, or lend in any of the active markets. Borrowers pay a fixed interest rate to lenders without the need for negotiation on terms like maturity, interest rate, or collateral. By supplying tokens to liquidity pools, users can earn rewards while facilitating peer-to-peer lending and borrowing.

Hifi Governance is the community-driven process for managing the Lending Protocol. HIFI is an ERC-20 token that grants its owner the ability to delegate voting rights to any address, including their own. The delegate's voting rights are automatically adjusted when the owner's token balance changes. Hifi Governance allows the community to propose, vote on, and implement changes through the administrative functions of the Hifi Protocol. Proposals can modify system parameters, support new markets, introduce new collateral types, or allocate resources towards specific causes.

Hifi was initially known as Mainframe when it launched in Nov. 2017. Mainframe started as a decentralized communications layer for Web3 but later shifted to Decentralized Finance and rebranded as Hifi in early 2020.

Hifi was founded by Mick Hagen, an early adopter of blockchain technology. Hagen stepped down in early 2020, and Doug Leonard took over. Leonard is an avid NFT collector and is known to have financed the purchase of his familys minivan using early crypto protocols. Leonard has led the rebranding and pivot of Hifi into decentralized finance.

Hifi offers a higher level of predictability compared to similar protocols. This predictability stems from Hifis fixed interest rate markets. Borrowers know in advance the exact amount they will pay to borrow, and lenders know precisely what they will earn before lending any funds. This provides users with more predictable outcomes in decentralized finance compared to similar protocols with variable interest rates.

The total supply of HIFI is 126.25M. Currently, 101.25M (80%) are in circulation, and 25M will be distributed over 2 years to Hifi Labs.

The exact emission rate of HIFI may change over time as voters can increase or reduce the emission rate through community governance.

Hifi is a protocol of smart contracts that allows users to deposit collateral and mint hTokens, which are bond-like instruments representing on-chain obligations settling on specific future dates.

Lenders can purchase hTokens at a discount and redeem them for full face value at a specified maturity date. The protocol enforces a collateralization factor, ensuring that all debt remains over collateralized at all times. If the collateral falls below the maintenance threshold, it will be sold to liquidators at a discount, paying down a portion of the loan and returning the remaining collateral to an acceptable collateralization factor.

This arrangement, enforced by smart contracts, helps borrowers maintain their collateral levels, provides a safety net for lenders, and creates earning opportunities for liquidators.

MFT is available for trading on an increasing number of exchanges, with cryptocurrency and stablecoin pairs currently available.

As of February 2021, Binance offers the largest liquidity for MFT, while Bittrex also offers a Bitcoin (BTC) pair, and Upbit has a KRW pair. Additionally, MFT can be purchased on Uniswap V2 for a decentralized option.

Hifi is a decentralized finance protocol that enables lending and borrowing of crypto at a fixed interest rate. It consists of decentralized interest rate markets that mature on specific dates. Hifi markets employ an Automated Market Maker model, where users supply tokens to liquidity pools and an algorithm determines the interest rate based on supply and demand. Users can participate in active markets by supplying liquidity, borrowing, or lending. Borrowers pay a fixed interest rate to lenders without the need to negotiate terms like maturity, interest rate, or collateral. By supplying tokens to liquidity pools, users can earn rewards while facilitating peer-to-peer lending and borrowing.

Hifi Governance is the community-driven process for managing the Lending Protocol. HIFI is an ERC-20 token that allows owners to delegate voting rights to any address, including their own. The delegate's voting rights automatically adjust with changes in the owner's token balance. Hifi Governance empowers the community to propose, vote on, and implement changes through the administrative functions of the Hifi Protocol. Proposals can modify system parameters, support new markets, introduce new collateral types, or allocate resources to specific causes.

Hifi was originally known as Mainframe when it launched in November 2017. Initially, Mainframe aimed to be a decentralized communications layer for Web3 but later pivoted to Decentralized Finance and rebranded as Hifi in early 2020.

Hifi was founded by Mick Hagen, an early adopter of blockchain technology. Mick Hagen stepped down in early 2020, and Doug Leonard took over. Doug Leonard is an avid NFT collector and is known to have financed the purchase of his familys minivan using early crypto protocols. Leonard has led the Hifi rebranding and pivot into decentralized finance.

Hifi stands out by providing a higher level of predictability compared to similar protocols. This predictability arises from Hifis fixed interest rate markets. Borrowers know the exact amount they will pay to borrow upfront, while lenders know their earnings before lending any funds. This feature offers users more predictable outcomes in decentralized finance compared to similar protocols with variable interest rates.

The total supply of HIFI is 126.25M. Currently, 101.25M (80%) coins are in circulation, and 25M will be distributed over 2 years to Hifi Labs.

The emission rate of HIFI may change over time as the community governance can pass proposals to increase or decrease the emission rate.

Hifi is built on a protocol of smart contracts that allow users to deposit collateral and mint hTokens, which represent on-chain obligations settling on specific future dates.

Lenders can purchase hTokens at a discount and redeem them at full face value on the specified maturity date. The protocol enforces a collateralization factor to ensure that all debt remains overcollateralized at all times. If the collateral value falls below the maintenance threshold, it will be sold to liquidators at a discount. The proceeds will pay down a portion of the loan, while the remaining amount restores an acceptable collateralization factor.

This arrangement, enforced by smart contracts, helps borrowers maintain their collateral levels, provides a safety net for lenders, and creates earning opportunities for liquidators.

MFT is available for trading on several exchanges, with cryptocurrency and stablecoin pairs currently supported.

As of February 2021, Binance offers the highest liquidity for MFT. Bittrex also provides a Bitcoin (BTC) pair, and Upbit has a KRW pair. For a decentralized option, MFT can be purchased on Uniswap V2.