Passive Income! at bEarn.Finance

Whether or not you’re familiar with cryptocurrency, this post will introduce you to a solid ‘de-fi’ platform with the potential for steady passive income growth. This platform or ‘de-fi ecosystem’ is bEarn Finance. 

 

Here at Prizes Drop, we look for innovative or strong projects which can help our members increase their financial positions, not just by collecting our own points, which you can do just by completing our range of tasks. Got enough points? Swap them for a range of free vouchers including Amazon and Netflix codes.

 

In picking out these projects, we have been right many times, but every time we’ve either fully investigated the platform ourselves, or have invested directly. There is always risk, so please do your own research since you ultimately make your own decision when it comes to investing. 

 

The boom in 'decentralised finance' continues, and bEarn.Finance is well placed to ride this trend, and adapt by introducing popular features. 

 

The BFI token is the main crypto token for bEarn Finance, a project on the Binance Smart Chain and on Ethereum (BFIE token). It’s also currently expanding onto Polygon chain also with vaults and liquidity.

 

First thing, as an intended community-run project, you can stake BFI via smart contract, on the main staking section and start increasing your BFI. Staking income is derived across the bEarnFi ecosystem, where playing games or interacting with dapps and smart contracts incurs fees which are distributed partly to stakers. 

 

There are also the bVaults and Farming where you can earn for providing liquidity for various tokens on different de-fi platforms. 

 

What else is going on?

 

You can read the main feature list here. There is bLending where you can lend or borrow crypto for rewards or low interest rates, perhaps to invest more.

 

There is the native Bdex exchange with Launch Pad section for potential new projects to launch via bEarn and acquire liquidity and interest.

 

The special bPower section is created for the algorithmic stablecoin bDollar, its features, games, tools and governance. This could do with a clearer menu system.

 

Some of these are still in Beta mode, or are in need of some development or improvement. 

 

Our Conclusion

 

The bEarn Finance ecosystem and BFI token has so far withstood market swings and has continued to add features (such as the new native Bdex and some NFTs) whilst maintaining updates and communication with its community. It has withstood a substantial hack on one of its bVaults, (note: which it is still recovering from). 

 

If bEarn.Fi can improve security and keep renewed trust whilst expanding its ecosystem through innovation and partnerships - then it will also maintain its value and grow in the next market upswing. But it will need to keep pushing and attracting users to drive usage, as the de-fi space expands with new competition.

 

The positive aspect is that it has managed to set up now, an impressive suite of de-fi products with a solid website. However, their future will depend on continued cross-project integration, better governance and social media power to actually keep users within a trusted ecosystem. It could also use some better UI design. Time will tell. 

 

Looking to invest in BFI token? Don't forget you can swap earned points here at Prizes Drop for cryptocurrency like Bitcoin and Ethereum, and trade them for BFI on leading exchanges. 

 

Stay tuned for more project overviews.