BRO-FI - I've not announced it yet because we're still testing it.

raymondspeaks (72)in LeoFinance • 3 years ago

Bros Silver and more transparency.png

So we're testing out BRO FI right now.

Technically I shouldn't even be talking about this right now but it's in the Man Cave server and everyone's talking about it and testing it out to see what they can get. So I thought I'd push it out a little further to anyone that wants to give it a test. The idea being the more the merrier, but then again, remember, we are working on bug fixes.

So what the hell is BRO FI and why the hell should I give you anything?

Okay, so, Bro Fi is basically delegation mining with a twist. Here is how it works for the non coders (like me) in the simplest explanation I can give you.

You can delegate one (or several) of your tokens to @brofi. You may also delegate hive too!
Every token that is delegated has a pool. For instance, right now there is CTP, LEO, STEM, NEOXAG, HIVE, LOTUS, PAL, CCC, WEED that are available. When you delegate a token to @brofi it joins the pool
Each pool has an allocated amount of BRO that people can earn daily from. For instance the top pool right now is LEO and that earns 8 BRO daily -- and that is split by the amount / size of delegations.
People that own BRO can vote on which pools they would like to see earning the most. This is determined by the amount of BRO held. So for instance someone like @themarkymark that comes along and votes can have massive sway because his vote is worth around 7000, in comparison to someone that had only 100.
If you've delegated then every day you will earn BRO -- providing it is an active pool
We will use the rewards generated from Brofi to buy Bro back off the Market.

And that's it. An explanation that even your Gran can understand if she was a Hivean!

Just remember we're still in the testing phase. Things may likely break, and this is why I haven't announced it fully yet. But please feel free to come in and test it -- the pools are getting fully used.

Q&A

Q. "Where can I join the man cave server?"

A. https://discord.gg/qd8J2x3

Q. "Your server is rubbish / I don't like Discord / I don't like people -- but I like the idea of Brofi. How do I participate without joining a bunch of lunatics?"

A. Easy. Just delegate one of the mentioned tokens above to the account @brofi -- and done. Earn BRO. Sit back, relax.

Q. "DEFI is a scam. You are a scam. How is this not a scam?"

A. We don't take any of your tokens. You just lease them to us. If you don't like it then feel free to undelegate. Boom, zero risk whatsoever.

Q. "Great, how often do I earn BRO?"

A. Daily.

Q. "Why do I need to vote? What is that?"

A. You don't need to vote really. Voting is for owners of BRO. The pool rewards are reduced by half from top to bottom. So the top pool earns 8 BRO, and the second pool earns 4, and so on. BRO owners can vote to tip the balance.

Q. "What is the minimum I can delegate in?"

A. 0.00000001 CCC. But don't expect to earn much! (if at all)

Q. "I have heard BRO is fixed supply. Doesn't that mean you'll run out?"

A. Nope. Will be buying back BRO regularly from the market.

Any more questions? Just remember, we haven't officially released it yet, come in and have a bit of testing - or lease your coins to us. That's it for now!