π¦Implemented features
Last updated
Last updated
If a project has it's token listed in the Burnify protocol, they may have the option to boost $EGLD rewards for the users sending batches with their token.
Only users who create batches in the current cycle with the tokens listed in the boosted tokens will share in the EGLD rewards. The reward each user receives depends on the number of batches sent.
These rewards will be airdropped (around 7 PM UTC after the cycle ends) and are additional rewards! They do not impact the protocol rewards (from the Rewards tab).
Users have the option to create batches even if they don't have the specific token they intend to burn. For instance, if a user possesses only EGLD in their wallet, they simply need to determine the number of batches they want to create and select the token they wish to burn. The conversion from EGLD to the chosen token for burning will be facilitated through the JEX aggregator, known for providing the most competitive rates on MultiversX.
After the main features of the protocol going live, we're planning on building a DAO, so that users may vote exclusively on technical developments of the project and possibly, for example, which tokens should/shouldn't join the protocol.
Token discount means that if 1 batch = 0.15 EGLD + 100 $BFY and there is a discount of 50%, you will send 50 $BFY and the other 50 $BFY will be taken from the buffer.
Enabeling another stream of rewards. Own a BUFU and a piece of Burnify Forever. Maximum number 666, ο»Ώο»ΏHalf of the protocol fee would go to NFT strength-stakers
A skill-based interactive module where users analyze and predict whether the number of batches in the current cycle will exceed or be less than the previous cycle, based on data analysis and market trends.
How it works: Add BFY, then select "Lower" or "Higher" number of batches
After the cycle ends, winners get the #BFY from the losing side (95% of the #BFY invested from the losing side goes to the winners, and distributed proportionally)
Users can join until 70% of the previous cycle's batches are met, or until 2h before cycle ends
If the user does not hold any BFY, they can use swap & predict: Use #EGLD instead of #BFY
This is the leaderboard for staked BFY on BurnifyApp, updated every 2 hours. Users will be able to see their overall position in the protocol
In the Profile section, users can view their $BFY rewards under the BUFU rewards category, which includes Staked $BFY. Additionally, within this Profile section, users have the option to select the guild they wish to join.
BFY was launched as a fair-launch (no team allocation). To obtain BFY, everyone had to buy or burn.
The team invested the majority of funds into building liquidity, and ensuring price sustainability. To support this effort, Burnify created bFuel, which allows the community to contribute to the liquidity pool.
This initiative has helped grow the liquidity to approximately $110k (5x increase). bFuel serves as a reward mechanism designed to incentivize users who contribute liquidity to the BFY token, promoting the protocolβs growth and stability.
Following the same principle as token burn, the burning value of an NFT is calculated based on a formula around the floor price. This ensures fair and consistent valuation during the burn process.