BitFi

BitFi is an on-chain asset management platform that combines CeFi and DeFi strategies to generate native yield on BTC and USD deposits. Users receive yield-bearing tokens, bfBTC for Bitcoin and bfUSD for dollar stablecoins, which they can hold, stake or redeem.

bfBTC is minted when BTC is bridged on-chain. The deposited BTC is deployed into mirror trading, liquidity and DeFi strategies coordinated by Ceffu's MirrorX engine, and the exchange ratio rises as revenue accrues; it is redeemable 1:1 for native BTC across chains. bfUSD is a stablecoin backed by USDT and USDC with Chainlink-secured pricing, and it can be staked in two ERC-4626 vaults with standard and instant redemption paths.

• bfBTC: a yield-bearing Bitcoin liquid staking token using a hybrid CeFi and DeFi strategy
• bfUSD: a USDT- and USDC-backed stablecoin with a one-year principal term
• Horizon vault (hbfUSD): the lower-risk pool, with a stated target APY of 9%
• Pulsar vault (pbfUSD): the higher-yield pool, with a stated target APY of 17%
• Custody: institutional custody through Ceffu
• Points program and dashboards: tracking for bfBTC and bfUSD positions

According to its website, the CeFi side is split 90% delta-neutral and 10% tactical, run by a trading team of more than ten people, while the DeFi side accesses over 20 ecosystem partners with a stated APY range of 4-15%. Partner logos on the site include CGV, Fundamental, IBC, Hemi, Pell, Spectra and Izumi.

BitFi states that its smart contracts are audited and publishes an audit report in its documentation. Yield targets are the platform's own stated figures and not guarantees.