Befi Labs Price
(BEFI)
USD($)
Befi Labs (BEFI) Live Price Chart
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Befi Labs Live Price Data
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Befi Labs(BEFI) Profile
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Ethereum 0x8b9b95...d51
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$0.20707
$0.21489
$0.51048
-1.03%
-1.05%
-18.20%
$10.14M
$3,288
47,564,207
210,000,000
About BEFI
How can I buy Befi Labs (BEFI)?
What Is BeFi Labs (BEFI) Crypto?
BeFi Labs (BEFI) is a platform at the forefront of the CeDeFi (Centralized Decentralized Finance) innovation, aiming to simplify trading BRC20 tokens and Bitcoin ordinals for Web3 users. It enables zero-fee trading of BRC20 tokens, integrating seamlessly with popular wallets like MetaMask to provide a user-friendly experience.
The platform emphasizes lightning-fast transactions with no trading fees, allowing users to move across CeFi, DeFi, and Web3 environments easily. BeFi Labs is powered by its native utility token, BEFI, which fuels the ecosystem and facilitates various operations within the platform.
A significant feature of BeFi Labs is its integration with Portal, a Layer 2 cross-chain swap solution that allows for trust-minimized trading without needing custodians, bridges, or wrapping. This partnership enhances BeFi Labs’ cross-chain trading capabilities, offering users more extensive access to a diverse range of assets across different blockchains. This integration also aims to make $BEFI and BeFi-bridged assets more accessible and tradable across ecosystems, expanding the utility and liquidity of BeFi Labs' offerings.
The platform conducted an Initial DEX Offering (IDO) with a total token supply of 210 million BEFI tokens. The IDO aimed to raise funds to support the continued development and expansion of BeFi Labs, focusing on making blockchain trading accessible, efficient, and cost-effective for users. The fundraising goal was set at $2.3 million, with the platform successfully raising $1.26 million.
How Does BeFi Labs Exchange Work?
BeFi Labs operates at the intersection of centralized and decentralized finance, creating a unique CeDeFi ecosystem. It utilizes the BRC20 standard, indicative of tokens existing on the Bitcoin network, to facilitate seamless and cost-effective trading experiences. Here’s a breakdown of how BeFi Labs works:
1. Zero-Fee Trading: BeFi Labs enables users to trade BRC20 tokens and Bitcoin ordinals without any trading fees. This is a significant departure from the norm where users are accustomed to paying gas fees and transaction fees on other platforms. By eliminating these costs, BeFi Labs provides a more accessible and cost-effective trading environment for its users.
2. Seamless Wallet Integration: Users can trade directly from their preferred wallets, such as MetaMask, without juggling multiple wallets or platforms. This integration simplifies the user experience, making it straightforward for users to engage in trading activities across CeFi, DeFi, and Web3 ecosystems with ease.
3. Cross-Chain Trading through Portal Integration: BeFi Labs has integrated with Portal to enable bridgeless, trust-minimized cross-chain swaps. This allows for the trading of assets across different blockchains without custodians, thereby broadening the range of trading pairs and assets available to users. This integration facilitates a safer and more diversified trading experience, expanding beyond the limitations of traditional, centralized exchanges (CEXs) and ERC20 decentralized exchanges (DEXs).
4. Liquidity and Accessibility: The integration with Portal also aims to increase the trading pair catalog on BeFi Labs, making $BEFI and BeFi-bridged assets more accessible and tradable across various ecosystems. This effort is complemented by the introduction of the ERC20 $BEFI token into the Portal DEX Network, facilitating one-click, cross-chain trading against a multitude of assets on different chains.
5. Support for BeFi-bridged Assets and Ordinals: BeFi Labs not only supports the trading of BRC20 tokens but also extends its capabilities to Bitcoin-based fungible assets and non-fungible Ordinals. This feature addresses the liquidity challenges often faced with traditionally bridged assets by enabling their trade against assets on different chains. Moreover, the platform simplifies the trading of BeFi-bridged Ordinal NFTs, thereby enhancing the accessibility and liquidity of these unique assets.
6. Comprehensive Ecosystem Development: Beyond trading, BeFi Labs is dedicated to ecosystem growth, as evidenced by its token distribution strategy and fundraising efforts. The funds raised through their IDO are earmarked for the development and expansion of the BeFi Labs platform, underscoring their commitment to simplifying blockchain complexities and enhancing user experience in the CeDeFi space.
When Was BeFi Labs (BEFI) Coin Launched?
BeFi Labs initiated its journey in the CeDeFi space in 2023, marking its entry with a focus on revolutionizing the trading experience within the BRC20 ecosystem. The strategic orientation towards eliminating trading fees and facilitating seamless cross-chain transactions was grounded in the ideation and research phases that began in the third quarter of 2023.
The platform's development proceeded rapidly, with significant milestones such as the initiation of coding and the launch of an internal Minimum Viable Product (MVP) taking place in the fourth quarter of the same year.
This foundational period set the stage for BeFi Labs to unveil an early testnet and delve into DeFi products and analytics by the first quarter of 2024, followed by broader testnet launches and the unveiling of its $BeFi VIP program in the second quarter of 2024. BeFi Labs’ roadmap highlights its commitment to innovation and growth, with plans for supporting more chains and wallets, launching futures trading, and researching BeFi wallets.
How to Use BEFI Token
The BEFI token, as the native utility token of BeFi Labs, plays a crucial role in its ecosystem, supporting various functions that align with the platform's CeDeFi framework.
1. Fee-Free Trading: One of the key attractions of BeFi Labs is its promise of zero trading fees for transactions within its ecosystem. While the platform inherently supports fee-free trading to enhance user experience and participation, the BEFI token underpins this feature by potentially being used for rewards or governance mechanisms that further incentivize and facilitate this zero-fee structure.
2. Cross-Chain Functionality: Through its integration with Portal, BeFi Labs offers bridgeless, trust-minimized cross-chain swaps, allowing for a safer and more diversified trading experience. The BEFI token is integral to this feature, facilitating seamless cross-chain trading and liquidity across different blockchain ecosystems. This increases the utility and accessibility of BEFI and BeFi-bridged assets, making them more attractive to users and investors.
3. Ecosystem Growth and Rewards: The token distribution strategy of BeFi Labs suggests that a significant portion of BEFI tokens is allocated towards ecosystem growth, liquidity, and market making. This allocation likely supports various incentives, including liquidity provision rewards, staking rewards, or participation in governance proposals, contributing to the overall health and vibrancy of the BeFi Labs ecosystem.
4. Trade BEFI on KuCoin: Trade BeFi Labs token on the KuCoin Spot Market against other cryptocurrencies to profit from changing market conditions and volatility. Buy or sell $BEFI or HODL if you believe in the future potential of the BeFi Labs project. Remember to undertake trades in the crypto market only after doing your own research (DYOR).
Befi Labs (BEFI) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $-0.0018 | -0.85% |
| 7 Days | $-0.04674 | -18.20% |
| 30 Days | $-0.10941 | -34.26% |
| 3 Months | $0.15997 | 320.02% |
24H Investment Barometer
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The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
Risk warning：Please note that the Investment Barometer is provided for informational purposes only and is not an investment advice. Investing carries risk. Please make investment decisions cautiously and based on your own judgement.
Strong SellSellNeutralBuyStrong Buy
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FAQ
How much is 1 Befi Labs (BEFI) worth?KuCoin provides real-time USD price updates for Befi Labs (BEFI). Befi Labs price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time BEFI to USD exchange rates.
What Is BeFi Labs (BEFI) Tokenomics?
The total supply of BEFI tokens is capped at 210,000,000 BEFI. This fixed supply helps prevent inflation over time, ensuring that an ever-increasing supply does not dilute the token value).
BEFI Token Distribution
> Private Round: 30% of the total supply is aimed at early investors and partners contributing to the project in its initial stages.
> Public Round: 20%, allocated for public sale, allowing the wider community to participate in the ecosystem.’
> Ecosystem Growth: 20%, dedicated to supporting the growth and development of the BeFi Labs ecosystem, including marketing, partnerships, and community incentives.
> Liquidity & Market Making (MM): 20% to ensure sufficient liquidity for BEFI tokens across exchanges and within the platform, facilitating smooth trading experiences.
> Team: 10%, reserved for the project's founders, team members, and advisors, typically vested over a period to align the team’s incentives with the long-term success of the project.
Hard Cap: The fundraising goal for the project was set at $2,300,000, which supports the development, marketing, and operational expenses necessary to grow BeFi Labs.
IDO Price: The token was priced at $0.025 per BEFI during its IDO, providing an entry point for investors to participate in the project's early stages.
Is BeFi Labs (BEFI) a Good Investment?
Investing in BeFi Labs (BEFI) offers several potential advantages that align with the innovative aspects of the CeDeFi ecosystem and the broader blockchain industry trends.
1. Innovation in CeDeFi: BeFi Labs stands at the forefront of CeDeFi, a novel approach that blends the efficiency and user-friendliness of centralized finance (CeFi) with the transparency, security, and decentralization of decentralized finance (DeFi). This hybrid model is designed to offer the best of both worlds, potentially offering higher security and trustworthiness than traditional financial systems while maintaining ease of use.
2. Zero-Fee Trading: One of the standout features of BeFi Labs is its zero-fee trading structure for BRC20 tokens and Bitcoin ordinals, which can significantly reduce the cost barrier for traders and investors. This approach can increase trading volume and liquidity, potentially enhancing the value of the BEFI token and the overall ecosystem.
3. Cross-Chain Accessibility: Through its strategic partnership with Portal, BeFi Labs enables seamless cross-chain trading without the need for custodians, bridges, or wrapping. This capability not only broadens the asset base available for trading but also reduces the risks associated with cross-chain transactions. Investors may find value in the platform's ability to facilitate easy access to a diverse range of assets across different blockchains.
4. Ecosystem Growth and Liquidity: The allocation of BEFI tokens towards ecosystem growth, liquidity, and market-making could foster a vibrant trading environment. This strategic token distribution is designed to incentivize participation and engagement within the platform, which could drive the platform's adoption and, consequently, the appreciation of the BEFI token's value over time.
5. Future Roadmap and Expansion: BeFi Labs has outlined a clear roadmap for future development, including broader testnet launches, the introduction of DeFi products, and expansion into more chains and wallets. For investors, this indicates a commitment to continuous improvement and innovation, which could lead to increased adoption and demand for BEFI tokens.
6. Participation in a Growing Sector: Investing in BeFi Labs offers an opportunity to participate in the growing CeDeFi sector, which aims to address some of the limitations of traditional DeFi and CeFi by providing a more secure, efficient, and user-friendly platform. As the blockchain and cryptocurrency markets evolve, platforms like BeFi Labs that innovate within this space could see significant growth.
What Is BeFi Labs Price Prediction?
Due to the volatile nature of the crypto market, offering an accurate BEFI price prediction over any duration is impossible. However, you could observe the following factors for insights into the price movements in the BeFi Labs crypto:
1. Market Adoption and User Base Growth: The widespread adoption of BeFi Labs for trading BRC20 tokens and Bitcoin ordinals, along with an increase in the platform's user base, can drive demand for the BEFI token. As more traders and investors use BeFi Labs for its zero-fee trading and cross-chain capabilities, the value of BEFI may increase.
2. CeDeFi Market Trends: Being a CeDeFi platform, BeFi Labs operates at the intersection of centralized and decentralized finance. Trends and shifts in the CeDeFi sector, including regulatory changes, technological advancements, or shifts in investor sentiment toward CeDeFi projects, can influence the price of BEFI tokens.
3. Partnerships and Integrations: Strategic partnerships, like the integration with Portal for cross-chain trading, enhance the functionality and appeal of BeFi Labs. Such collaborations can broaden the platform's asset offerings and improve its liquidity, potentially boosting the BEFI token's value as it becomes more integrated and indispensable within the blockchain ecosystem.
4. $BEFI Tokenomics and Supply: The distribution, allocation, and overall supply of BEFI tokens can significantly affect their price. Factors such as token burns, staking rewards, and the proportion of tokens allocated for ecosystem growth or liquidity provision can impact supply and demand dynamics, thereby influencing the token price.
5. Technological Developments and Platform Upgrades: Ongoing development and enhancements to the BeFi Labs platform, including the launch of new features, improvements in security, and expansion of supported assets or chains, can positively affect investor and user perception, driving demand for BEFI tokens.
6. Crypto Market Sentiment and Speculation: As with any cryptocurrency, market sentiment and speculative trading can influence the price of BEFI tokens. News, social media trends, and market analysis can sway investor sentiment positively or negatively, leading to price fluctuations.
7. Competition: The position of BeFi Labs within the CeDeFi and broader cryptocurrency market, in comparison to competitors, can also influence its token price. Innovations, user experience, and service quality relative to other platforms can attract or deter investors and users, affecting demand for BEFI tokens.
What is the all-time high price of Befi Labs (BEFI)?
The all-time high price of Befi Labs (BEFI) is $0.51048. The current price of BEFI is down 0.59% from its all-time high.
What is the all-time low price of Befi Labs (BEFI)?
The all-time low price of Befi Labs (BEFI) is $0.20996. The current price of BEFI is up 0.00% from its all-time low.
How much Befi Labs (BEFI) is there in circulation?
As of 4 27, 2024, there is currently 47,564,207 BEFI in circulation. BEFI has a maximum supply of 210,000,000.
What is the market cap of Befi Labs (BEFI)?
The current market cap of BEFI is $10.14M. It is calculated by multiplying the current supply of BEFI by its real-time market price of $10.14M.
How do I store Befi Labs (BEFI)?
You can securely store your Befi Labs in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your BEFI include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
Fear & Greed Index
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Fear21
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BEFI/USDT1
$0.20996-1.05%
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2024-04-27 08:31:05 (UTC+8)
24h Volume1,261,119,136USDT