Introduction to BIM Protocol

What is BIM?

BIM is a decentralized cryptocurrency protocol where users can buy exchange sell bridge and stake their token. Providers provide liquidity for staking to earn passive income

Please join the BIM Community Discord server; the BIM team and community members are eager to help you understand and use BIM.

Why BIM Protocol?

BIM Protocol has been audited and secured. The protocol is completely open source, which allows anyone to interact with a user interface client, API or directly with the smart contracts on the Polygon network and other EVM blockchain. Being open source means that you are able to build any third-party service or application to interact with the protocol and enrich your product.

How do I use the BIM protocol?

To Buy Sell, Bridge, Provide Liquidity, Swap Tokens, or Vote on Governance Proposals, go to the BIM Exchange interface and connect a Web3 wallet.

What is the cost of interacting with BIM protocol?

Interaction with the protocol requires transactions and therefore transaction fees for using Ethereum Blockchain or another polygon like blockchain, which depend on the state of the network and the complexity of the transaction.

Where are the funds provided stored?

Your funds are allocated in a smart contract. The smart contract code is public, open source, formally verified and audited by third-party auditors. You can withdraw your funds from the pool on demand or export a tokenized version of your staking position.

Is there any risk?

No platform can be considered entirely risk free. The risks related to the BIM platform are the smart contract risk (risk of a bug within the protocol code) and liquidation risk (risk on the collateral liquidation process). Every possible step has been taken to minimise the risk as much as possible-- the protocol code is public and open source and it has been audited. Additionally, there is an ongoing bug bounty campaign live and running.

You can find additional security related information audits sections.

BIM (BIM) token

BIM is used as the center of gravity of BIM protocol governance. BIM is used to vote and decide the outcome of BIM improvement proposals. Apart from that, BIM can be staked in staking. Punters earn rewards and staking fees through the protocol.

Documentation on tokenomics and governance is available in the Whitepaper and with more details in the full documentation. Please feel free to join the discussion on the Governance Forum.

Mobile App

Be careful, BIM doesn't have any downloadable mobile application available. If you find one, it is a scam. BIM Protocol would not ask for your seed passphrase ever.

BIM never advertises on any social media or search engine. If you see any advertisement, those are scams and phishing sites.

Additional information and resources about BIM

Feel free to refer to the WhitePaper for a deeper dive into BIM Protocol mechanisms. Developers can access the Documentation for a technical description of the BIM decentralized protocol.

If you still have any questions or issues, feel free to reach the BIM team the discord