Mar 30, 2021

3 min read

CAMPFIRE: A decentralized token camping on the Binance Smart Chain.

Campfire protocol

📈Why did we build CAMPFIRE?

💻Our Protocol:

  • Alice the creditor deposits her BNB into our deposit vault; her asset becomes available for a yield farmer to borrow; she earns interest for providing this liquidity
  • Bob the yield pledger wants to open a leveraged yield farming position on the BTC/BNB pair; he borrows BNB from the vault and enjoys higher yield farming rewards. Campfire Finance’s smart contract takes care of all the mechanics behind the scenes — optimally switching assets to the right ratio, providing liquidity to the pool, and staking LP for Pancake Rewards
  • Erin the liquidator bot monitors the health of each leveraged position, and when it goes beyond designated parameters, she helps liquidate the position, making sure lenders such as Alice do not lose their capital. For this service, she takes a 5% reward from the liquidated position. At campfire, we also have an in-house bot for this which uses 100% of this fee for a buyback and burn of the CAMP token. So even if you’re unfortunate and have your position liquidated, if you’re an CAMPFIRE holder, you can feel relieved knowing your token is going up in value as a result.
  • Carlos the bounty hunter bot monitors the amount of rewards accrued in each pool and helps reinvest it back, compounding returns for all farmers. For this service, he takes 3% of the reward pool, which goes to the dev fund to pay for operations. (In-house bot only)

🚀Tokenomics & Token distributions:

💬Join Us: