What is HOTFI? HOTFI is a protocol that solves the liquidity problem for BRC 20 tokens by promoting the development of DeFi around BRC 20 tokens. HOTFI helps users optimize capital utilization through products your product.
So what is different about HOTFI compared to other protocols? Let’s find out through the article below.
Overview of HOTFI
What is HOTFI?
HOTFI is a liquidity-enhancing protocol for BRC 20 tokens built on the Ordinals protocol and EVM protocols. HOTFI provides users with decentralized Peer-to-peer trading function, not only that HOTFI also provides real-time Swap function, allowing users to provide liquidity and earn passive income .
Stake is also being developed by the protocol so that users can deposit their BRC 20 token holdings and earn farming rewards. Launchpad will also be a product that HOTFI will develop in the future to facilitate the launch of high-quality projects.
Outstanding features
Currently, there are significant losses in the process of trading BRC 20 tokens due to various fees such as listing, token fragmentation, physical trading, mining fees and transaction fees. These costs have resulted in low trading volume and lack of liquidity for the BRC 20 token.
HOTFI aims to reduce trading losses of the BRC 20 token through the following methods:
- Mark BRC 20 standard tokens to ERC 20 tokens via EVM contract factory during the transaction process thereby reducing the number of token fragmentation.
- Take advantage of EVM protocols to build a transaction model using Order Book, thereby reducing confirmation requirements on the BTC network during the transaction process.
- Implemented limt order trading to reduce slippage and wear in peer-to-peer transactions of BRC 20 tokens.
Development Roadmap
Q1 2024:
- Introducing Staking BRC 20.
- Implement cross-chain transfers for BRC 20 tokens.
- Established HOTFI DAO
Q2 2024
- Implement recommendation-based governance.
- Established HOTFI Foundation.
- Developing HOTFI’s ecosystem.
Core Team
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Investor
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Tokenomcis
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Exchanges
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Project Information Channel
- Twitter: https://twitter.com/HOTFI_
- Website: https://hotfi.io/
- Telegram:
Summary
HOTFI continues to be a quite notable and potential project in the BRC 20 industry. Hopefully through the article, everyone has got an overview of what HOTFI is.
