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Hifi Finance
About Hifi Finance
The Hifi Protocol offers instant liquidity against digital assets and is focused on serving NFT communities. The HIFI token is the new token for the Hifi Protocol, replacing the MFT token, and will be swapped at a rate of 100 MFT to 1 HIFI pending a governance vote. The total supply of HIFI will be 126.25 million tokens, with 100 million being redeemed by MFT token holders, 25 million allocated to Hifi Labs for development and support of the protocol, and 1.25 million airdropped to MFT holders participating in governance votes. The Hifi DAO will become a distinct legal entity that governs the protocol through HIFI token voting, with Hifi Labs supporting the protocol and ensuring a smooth transition to the DAO. Hifi DAO Governance uses Hifi Improvement Proposals (HIPs) to deploy actions and contracts on-chain.
Hifi Finance is a decentralized finance protocol designed to offer users instant liquidity against their digital assets, focusing primarily on serving NFT communities. The protocol's foundation is based on Hifi Tokenomics, which aims to achieve full decentralization and autonomy. This leads to the establishment of the Hifi DAO (Decentralized Autonomous Organization), a key component in the governance and operation of the Hifi Protocol.
Hifi Finance, initially known as Mainframe, was founded by Mick Hagen in 2017. Hagen is recognized as a tech enthusiast and an early adopter of blockchain technology. The project underwent a significant rebranding in 2021, transitioning from Mainframe to Hifi Finance, reflecting its evolved focus and approach within the decentralized finance space.