PUREFI PROTOCOL AIRDROP!
- The Purefi Protocol is the only gateway for onboarding institutional money to DeFi.
- The network has partnered with CoinMarketCap to host an airdrop of UFI coins.
- A total of 100,000 UFI coins worth $13,000 will be airdropped to 2,000 lucky participants.
What is the Purefi Protocol?
The PureFi Protocol is the only gateway for onboarding institutional money to DeFi. Their motto is to “Be Compliant, remain decentralized, stay anonymous.” Their motto clearly brings out their purpose of being a decentralized platform and offer services in such a way. Their methods and products bring traditional as well as institutional money into DeFi by enabling various compliance tools as mentioned in their vision.
The protocol seeks to facilitate the transfer of surplus money in the economy into the DeFi space. Currently, only about $131.89 billion constitute the DeFi space out of the $118 trillion economy of capital markets.
The protocol is fully operational on the Binance Smart Chain, Solana, Polkadot and the Ethereum blockchain technology. The purpose of PureFi Protocol is to protect institutional money from ‘dirty crypto’.
The protocol does so by filtering the dirty crypto from the legitimate ones. Institutions or third parties send coins to the protocol. The protocol proceeds to filter out the crypto using their decentralized identifier algorithm. The legitimate coins are sent into the liquidity pool whereas the dirty coins are burned.
What is the $UFI token?
The $UFI token represents the licensed token of the Purefi protocol. The network conducts all its operations and services with the help of their coin. The creators of the network developed the token in-house.
The $UFI token has the key utility function to provide access to the PureFi services. It enables the lending-borrowing algorithm and staking option for users. Thus, the users can stake their $UFI coins to earn additional rewards. The network will put the staked coins into liquidity pools for the smooth functioning of the network.
The $UFI token is difficult to acquire as it can only be purchased on Ethereum, BSC and Casper blockchains. The total supply of $UFI is capped at 100 million coins, out of which 24.17% are tokens for sale. The current market capitalization of the coin stands at $1,44,050.
What do you need to know about the airdrop?
The PureFi protocol has partnered with CoinMarketCap to host an airdrop. The protocol has adopted the recently popularized method of marketing so as to publicize its operations and make investors aware of its licensed utility token.
In this partnership, the platform has decided to airdrop 100,000 $UFI tokens to 2,000 winners. This means that each winner is eligible to earn a minimum 50 $UFI token.
According to the current market value of the coin, the total prize pool amounts to approximately $13,000 and each winner is entitled to at least $5 worth of UFI tokens.
Even though the reward is comparatively less, investors have shown great interest in the airdrop. Over 50,000 users have pre-registered for the airdrop. The airdrop will commence on August 16, 2021 and last till August 20, 2021.
How to participate in this airdrop?
The network has laid out simple yet mandatory tasks for users to follow in order to be eligible for the airdrop. Here are the steps that investors should follow:
- Add PureFi to your CoinMarketCap watchlist.
- Add the $UFI token to your favorites and rate their community trust rating.
- Follow the protocol’s Twitter, Reddit, Facebook and YouTube accounts.
- Join their Telegram Community.
- Tweet about the PureFi airdrop and tag a cryptocurrency influencer such as Elon Musk, Vitalik Buterin, Dan Held or Tim Draper.
The PureFi protocol will be the sole entity that will decide the winners. The network will declare the winners on official social media handles a week after the event concludes. Thereafter, the credit process of the tokens will commence.
What are the benefits of this airdrop?
The airdrop certainly has benefits for the investors as well as the platform itself. Let’s take a look at the advantages to the participants:
- Although the market price is less, the winners stand a chance to be a part of a forward-looking community which aims to facilitate decentralization.
- The winners can stake $UFI coins airdropped on the PureFi protocol so as to earn additional tokens.
- The total supply of the $UFI token is capped at $100 million which protects it from inflationary pressures and dilution of investment.
- The coin is still trading below $1 and has a huge scope for development. Early investors can witness a huge capital appreciation.