$BNFY is now trading on PancakeSwap

B Non-Fungible Yearn – DeFi NFTs on BSC

B Non-Fungible Yearn or $BNFY is a DeFi NFT protocol which utilizes ERC721 Non-Fungible tokens for Yield Farming on Binance Smart Chain. By using NFTs we allow stakes to be more dynamic! Instead of a stake being tied to a user’s wallet address it is linked to a transferable NFT. With $BNFY your favorite collectible can also earn you money!

DeFi NFT Minting Factory

The protocol allows a user to stake their BNFY into multiple different pools to mint an NFT and earn more BNFY tokens. The staking process is fairly simple, just enter the amount of BNFY you wish to stake and an NFT is minted with the details of the your stake stored in the unique token id.

The advantage of using an NFT is the added flexibility of being able to transfer the ERC721 token along with all the staked tokens wrapped within it. There’s no need to unstake your assets, to cash out you can simply sell the NFT right on our marketplace.

Liquidity Locking

You can also lock your LP tokens after providing liquidity on PancakeSwap. When you stake your BNFY/BNB liquidity tokens in the BNFY platform, the tokens are locked in the staking contract forever, but the value is not. You mint an NFT when you stake the tokens, and the details of your stake are stored in the metadata of this new ERC721 token. When you decide you want to liquidate your position, you can go on the marketplace and trade that NFT for the market value of the LP tokens staked within it.

Manage Your Risk

B Non-Fungible Yearn is a new experimental DeFi protocol. Although the smart contracts have been audited, just like any new experiment, there is risk involved. Before using any features of this protocol, it is advised to make sure you have a full working knowledge of liquidity pools and impermanent loss. APY numbers are variable, and depend on the BNFY trading platform volume. BNFY is an experiment in decentralized finance and therefore no returns are guaranteed. APY is based on BNFY. By using this app, it is an acknowledgement of understanding the risks. Risk only what you are willing or can afford to lose.

As rewards from reward vault are disbursed, rewards will be replenished from the fees collected from each transaction of the trading platform. Please realize that these rewards are based on the volume of this platform and the reward vault may be depleted if there is no trading volume on the platform.

The Future

NFTs are the New Financial Technology! The potential of NFTs and the ERC-721 standard in DeFi are endless. BNFY’s goal is to be a pioneer and one of the first to have this potential be seen by the masses. The crypto-sphere moves fast, before anyone knows it NFTs will be implemented in every new DeFi project. Get in now and come along for the ride!

Transaction Fees

While there are no transaction fees when transferring BNFY or any NFT, there will be a small fee in BNFY when using the trading platform. Since a NFT can not be broken down the fee will be taken from the staked value of the NFT, this means that a fee in BNFY will taken out before each trade. The breakdown is as follows:

  • Trade Fee: 5% in BNFY
  • 90% will go to the reward vault
  • 10% will go to the DAO

#DeFi #NFTs on #BSC

$BNFY is da wei. Get you some right here:

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