👨🌾STAKE
BIM Protocol is a Decentralized, Multichain Yield Optimizer that allows its users to earn compound interest on their crypto holdings. BIM earns you the highest APYs with safety and efficiency in mind.
Last updated
BIM Protocol is a Decentralized, Multichain Yield Optimizer that allows its users to earn compound interest on their crypto holdings. BIM earns you the highest APYs with safety and efficiency in mind.
Last updated
Through a set of investment strategies secured and enforced by smart contracts, BIM automatically maximizes the user rewards from various liquidity pools (LPs), automated market making (AMM) projects, and other yield farming opportunities in the DeFi ecosystem.
The main product offered by BIM are our Vaults. The investment Strategies tied to the Vaults will automatically increase your deposited token by compounding arbitrary farm reward tokens from decentralized exchanges back into your initially deposited asset. Despite the inference of the name Vault, your funds are never locked in any contract on BIM: you can always withdraw at any moment in time.
DeFi applications are unique in the sense that they are permissionless and trustless, meaning that anyone with a supported wallet can interact with them without the need for a trusted middleman. While you have funds staked in a vault, you remain 100% in control of your crypto.
Most vaults have a performance fee structure, taking a percentage cut of all harvest rewards. This fee on profits is split up and distributed back to BIM tokenholders, allocated to BIM's treasury. These fees are already built into the APY of each vault and daily rate. You do not need to calculate it yourself. The performance fee and the fee structure breakdown are presented inside the Deposit and Withdraw module in a vault.
The performance fee on additional yield, i.e. vault profits, is in part distributed back to BIM tokenholders and is a source of BIM's platform revenue. A part of it also funds BIM's treasury which is used to further fund platform development, security and other initiatives. The performance fee was also implemented to promote community engagement and governance participation. A successful and engaged community is critical for our future growth, which in turn rewards platform users even more.
Furthermore, some vaults have a withdrawal fee. The main purpose of this fee is to prevent possible exploits from bad-faith actors. Without the fee, somebody could deposit just before the harvest() function execution and withdraw straight after that event, taking a % of the gains generated by legitimate stakers. Withdrawal fees stay in the vault and are shared amongst vault funds.
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