CrossFi is a cross-chain liquidity sharing protocol characterized by multi-chain lending and synthetic assets. It aims to connect and release all isolated liquidity of existing public chains.
Please join the official CrossFi Telegram group; the CrossFi team and members of the community look forward to helping you understand and use the CrossFi DApp.
How do I Interact With the CrossFi Protocol?
In order to interact with the CrossFi protocol, you simply deposit your preferred asset and amount. Currently, CrossFi supports staking pools of Filecoin (FIL) and CrossFi (CRFI) tokens. After depositing, you will earn passive income based on the borrowing demand in the market. Any interest you earn by depositing funds helps offset the interest rate you accumulate by borrowing.
What is the Cost of Interacting With the CrossFi Protocol?
Users can participate in staking on both Ethereum (ERC20) and Binance Smart Chain (BSC). Interacting with the protocol requires transactions and so transaction fees for Ethereum and Binance Smart Chain blockchain usage, which depend on the network status and transaction complexity.
Where are my deposited funds stored?
Your funds are allocated in a smart contract. The code of the smart contract is public, open-source, formally verified and audited by third-party auditors. You can withdraw your funds from the pool on-demand or the version of your lender position.
The CrossFi (CRFI) Token
CRFI is used as the centre of gravity of the CrossFi protocol governance. AAVE is used to vote and decide on the outcome of CrossFi governance proposals. Apart from this, CRFI can be staked within the protocol to provide security/insurance to the protocol/depositors. Stakers earn staking rewards and fees from the protocol.