The startup has developed a CeDeFi platform that utilizes on-chain technology and off-chain quantitative strategies to optimize asset returns across multiple blockchains. This platform enables users to enhance the yield on staked BTC assets through a secure and diversified investment approach.
Funding
$50M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Staking Bitcoin (BTC) across different blockchains can be complex and inefficient, often resulting in suboptimal yields for users. Navigating the CeFi and DeFi ecosystems to maximize returns requires specialized knowledge and active management.
Solution
BitFi is a CeDeFi platform designed to optimize BTC staking yields by integrating on-chain technology with off-chain quantitative strategies. The platform allows users to deposit BTC from various chains, stake bfBTC and BTC, and earn bfUSD stablecoin rewards. BitFi employs a hybrid strategy, leveraging both CeFi and DeFi protocols to generate consistent BTC-denominated rewards. The platform bridges CeFi and DeFi, connecting centralized strategies with decentralized yield opportunities, and uses quantitative strategies to generate income from bfBTC and bfUSD.
Target Audience
BitFi targets Bitcoin holders seeking to maximize their staking yields through a combination of centralized and decentralized finance strategies.
Features
- Cross-chain compatibility, enabling the deposit of BTC from multiple blockchains.
- Hybrid CeFi and DeFi strategies for consistent BTC-denominated rewards.
- bfBTC, a yield-generating and liquid Bitcoin solution.
- bfUSD, a Bitcoin-based delta-neutral synthetic dollar that continually yields USD-based returns.
- Integration with Ceffu and other trusted institutions for fund security.
- Native rewards paid in BTC.