For rapid search and implementation of a solution to the problem with locked funds, we ask all participants to read our proposals and help in their implementation and inform the Venus team.
Due to the high volatility of BNB on April 12, the DeFireX team moved user funds from the old $ 16M BUSD and USDT pools to a new stable farming strategy. Due to a common human error, they ended up locked on two Venus smart contracts:
We immediately wrote about our problem to the Venus team and for a week now we have not…
Despite the difficulties, DeFireX team keep working on the development of the project! After the restrictions are lifted and the migration is completed, a DFX security fund will be created using the team’s personal funds from the reserve fund in the amount of $ 500,000 to $ 1,000,000. The security fund will consist of the most promising cryptocurrencies. We plan to include top cryptocurrencies UNI, DOT, BNB, XRP and others there. The security fund will be opened when the value of assets increases by 3–5 times, 80% of the funds will be distributed to DFX holders.
The funds are planned…
As you know, the old BUSD and USDT pools used a strategy related to the BNB rate and lending on Venus. Due to the abnormal growth of BNB, we decided to transfer client funds to a safer pool, and compensate for all losses under this strategy at the expense of the company. During the process of migrating funds to new pools, an error was made in the execution of the contract, so now we need confirmation from the Venus team. User funds are safe and deposited on Venus’s balance, this can be checked using the links below.
DeFireX strategy for the BUSD and USDT pools was not well covered and this led to some negative feedback about its implementation. Despite the fact that the strategy itself is unique and allows users to earn some of the highest percentages through basic farming of the most liquid and large projects supported by Binance, such as Venus and Pancake Swap, it also has minimal market risks.
The strategy used for the BUSD and USDT pools provides 30% -40% profitability from basic farming. …
Total value locked in the DeFireX project reached the amount of $33,6 million! We appreciate your trust, thanks from the whole team.
We want to share the latest news with you:
DFX Token Farming Week 3 Started!
- 100,000 DFX were distributed among users during the previous 2 weeks of farming (from March 16 to March 30)! This is 1% of the total supply.
- DeFireX is allocating another 44,500 DFX tokens for liquidity providers for the next week (from 30.03 to 06.04)
- The amount of distributed tokens for DFX-BUSD pool and the yield from this pool increased on…
• DFX, the DiFireX Protocol governance and utility token, is live!
• DFX contract address on Ethereum: 0x96267A9781522498FD4c280B791Bd135780693A1
• DFX contract address on BSC: 0x74b3abb94e9e1ecc25bd77d6872949b4a9b2aacf
• To start, DFX is available through 3 liquidity mining pools (and soon more): DFX holders may vote to add more pools.
• All DeFireX profit go to the DFX buyback and are distributed among the DFX stakers.
The DeFireX team doesn’t rely on luck. Tokenomics have been carefully thought out to drive growth:
🔹 No additional emission
🔹 Blocking 75% of distributed team’s and private investors’ tokens
🔹 30% of all project profits go…
How the new farming mechanic with an increased interest rate works
The advantage of the DeFireX platform is that the project brings together the leading platforms in BSC, which have already proven their productivity and have a large amount of liquidity.
As a rule, the largest pools are used in farming, one of which is the Venus landing platform, and the second is the Pancake platform. This provides a higher and more reliable way to generate income in stable tokens.
How does this work?
The deposit is split 70/30. 70% of the initial deposit is placed on the landing platform…
DFX tokens will be distributed among new active users of the platform who have a balance of at least $100 and subscribed to the main social networks of the platform.
The DeFireX project team has been working on a distribution model for its own DFX token for a long time and has chosen several solutions that have already proven their effectiveness in the market. Below we explain how the model works:
Smart contract is managed by Defirex platform users
The project has an open smart contract that is controlled by platform users, with a deposit of more than 50,000 DAI. Users with such a deposit are eligible for multi-signature.
Neither the project team, nor anyone else have access to the funds of the smart contract. The project team proposes changes and money management options, and platform users can approve or reject them using their multi-signature. Any update must be confirmed by more than 60% of multi-signature holders.
Any changes will take effect 48 hours after the vote If the proposed changes…
DeFireX — the most profitable and relieble Yield Farming in DAI, ETH, USDC / protocol-based Compound