SINGAPORE, Jan. 18, 2022 /PRNewswire/ — LBank exchange will list CrossFi (CRFI) and will open trading for the CRFI/USDT trading pair at 2022-01-20 18:00 (UTC+8).
- Deposits for CRFI will open at 2022-01-19 18:00 (UTC+8) in preparation for trading.
- Withdrawals for CRFI will open at 2022-01-21 18:00 (UTC+8).
Note: The withdrawal open time is an estimated time for users’ reference. Users can view the actual status on the withdrawal page.
What is CrossFi (CRFI)?
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 and is committed to breaking technical barriers of all mainstream public chain assets through leading interoperability technologies.
About CRFI token:
CrossFi (CRFI) is a governance token for the CrossFi ecosystem. CRFI holders will be able to claim rewards if they stake their tokens, provide liquidity, and participate in key governance votes. CRFI is utilized as gas for executing on-chain operations and for paying services.
CrossFi’s goal is to align the incentives between the participants of the CrossFi ecosystem and the liquidity providers. The token mechanisms described above have two main goals:
- To connect the isolated liquidity of existing public chains.
- To democratize decentralized finance.
CrossFi is committed to becoming a decentralized cross-chain asset lending and liquidity sharing protocol. Therefore, a specific governance module will be developed for the community, allowing CRFI token holders to participate in voting by staking CRFI tokens at any time.
How do people interact with the CrossFi protocol?
In order to interact with the CrossFi protocol, simply deposit the preferred asset and amount. Currently, CrossFi supports staking pools of Filecoin (FIL) and CrossFi (CRFI) tokens. After depositing, they will earn passive income based on the borrowing demand in the market. Any interest they earn by depositing funds helps offset the interest rate they accumulate by borrowing.
Staking and rewards are managed on the CrossFi DApp, linked below.