BroFi is a new project launched by the ManCave (AKA BroFund) lead by @raymondspeaks and developed by @taskmanager.
You can find the official announcement here.
There are two components to BroFi, pools and curation.
A pool represents one Hive Engine tribe token where users can delegate the appropriate tribe token to earn an incentive (BRO token) as a reward. Each pool earns different amount of rewards based on it's ranking based on BRO backed votes. For example, the current rankings are as follows:
As you can see, the higher the pool ranks the more BRO rewards available to it. LEO is the highest ranking pool and has a pool of 7.8 BRO tokens/day available to all users who delegate LEO to @brofi. Hive is the second highest ranked pool with a total of 3.9 BRO tokens daily available for distribution.
The amount of BRO each user can earn is based on the available BRO tokens in the pool(s) they delegate to and their percentage of the delegated tokens. If you were to delegate 50% of the total delegation for the LEO pool, you would earn 50% of the tokens (~7.8 BRO/day). Currently a BRO token is valued at 6.25 Hive to 9 Hive on Hive Engine.
At any time you can change your vote for pools by sending 0.00000001 BRO to @brofi with your three pool choices with a memo like this MEMO: "pool LEO HIVE STEM". This will update your votes for the current pools. Your vote will have the weight of your current BRO holdings. The more BRO you hold, the stronger your vote.
You can always join the ManCave Discord to query the BroFi bot if you want updated data.
The 2nd part of the BroFi project is choosing curators. You are able to vote on three curators that the BroFi initiative will follow. The votes work in a similar fashion of pools, the more BRO you hold the more strength your vote has.
Right now you can see the current weights for curators.
These can change at any time based on the BRO backed votes. Any user on Hive can be voted as a curator and their vote will be trailed based on their ranking in the curator list.
Tokens earned by the BroFi initiative will be used to buy BRO on the market.
There are roughly 1600 BRO tokens in the incentive pool and each day 1% of that is paid out to BroFi pools based on rank with the largest portion going to the top three pools. BroFi is a unique twist on the DeFi formula.
Why you should vote me as witness
