FAQ
The BitFi Public Sale is conducted through Sonar, Echo's public sale infrastructure for identity verification, eligibility checks, and compliant on-chain participation.
General
What is BFI?
BFI is the native token of the BitFi ecosystem. It is designed to support decentralized governance, staking-based utility, ecosystem incentives, liquidity pairing, and long-term protocol growth.
What is BitFi?
BitFi is an on-chain asset management platform focused on institutional-grade yield strategies for Bitcoin and stablecoins. Its products include bfBTC and bfUSD.
What is the maximum supply of BFI?
BFI has a fixed maximum supply of 1,000,000,000 tokens.
How much BFI is allocated to the Public Sale?
10,000,000 BFI is allocated to the Public Sale, equal to 1.00% of total supply.
What is the Day-1 float of BFI?
The expected Day-1 float is 14.50% of total supply, or 145,000,000 BFI.
Eligibility and KYC
Is KYC required?
Yes. Participation requires identity and eligibility checks through Sonar.
Can users from all jurisdictions participate?
No. Participation is subject to jurisdictional restrictions, sanctions screening, wallet risk screening, and local law. See Restricted Countries.
Can U.S. residents participate?
No. U.S. persons and participants located in the United States are not eligible to participate in this Public Sale.
Do U.S. participants have different rules?
No U.S. participation path is available for this Public Sale. There is no U.S. accredited-investor track and no U.S. lock-up path.
Wallet and Network
What chain is supported for the Public Sale?
The Public Sale supports Ethereum.
Which assets are accepted?
USDC on Ethereum is accepted. USDT is not accepted for this Public Sale.
What token standard does BFI use?
BFI is initially minted on Ethereum as an ERC-20 token and is deployed as a LayerZero OFT to support native transfers to Base, BNB Chain, and other supported chains.
Why do I need to link a wallet?
Your wallet is used to submit the on-chain commitment and to receive any allocation, refund, or claimable amount after settlement. Sonar checks that the wallet is linked to the verified entity before allowing the purchase flow to continue.
Commitment and Payment
How does the Public Sale work?
The sale flow is:
- Sign in through Sonar.
- Complete identity, residency, and eligibility checks.
- Link the wallet you will use for the sale.
- Run the pre-purchase check for eligibility, wallet status, sale timing, and purchase limits.
- Generate a Sonar purchase permit.
- Submit the on-chain commitment with the accepted asset.
- Wait for final settlement after the sale closes.
- Claim any refund or claimable amount, and receive BFI at TGE according to the final sale terms.
What is a purchase permit?
A purchase permit is a short-lived signed authorization generated by Sonar. It proves that the verified entity and linked wallet are eligible to submit a commitment for this sale.
The permit may include the sale identifier, entity identifier, wallet address, valid time window, purchase limits, price limits, and other sale-specific payload. The sale contract verifies the permit before accepting the commitment.
What is checked before I can commit?
Before a commitment is submitted, the sale flow may check whether KYC/KYB is complete, whether the entity is eligible for the sale, whether the wallet is linked, whether the wallet passes risk screening, whether the sale is active, whether the purchase is inside the sale window, whether any liveness check is required, and whether the amount is within the configured limits.
What is the sale price?
The sale price is $0.05 per BFI.
What is the sale format?
The sale uses a fixed-price model with pro-rata settlement.
What happens if the sale is oversubscribed?
If the sale is oversubscribed, final allocations are scaled proportionally so that total allocations match the available supply. Any unfilled commitment amount is refunded or made claimable after settlement.
What happens if the sale is undersubscribed?
The sale may still proceed according to the final sale terms. Any unsold allocation will be handled according to BitFi's broader token distribution framework.
Sonar Troubleshooting
Why is Sonar unavailable or why can't I continue?
Common reasons include incomplete KYC/KYB, identity review still in progress, a blocked jurisdiction, U.S. person or U.S. location status, wallet risk screening failure, an unlinked wallet, the sale not being active, attempting to commit outside the sale window, a pending liveness check, or an expired browser session.
If the issue is wallet-related, try the wallet linked to your verified Sonar entity. If the issue is eligibility-related, complete the required steps in Sonar and wait for review.
Allocation, Claim, and Refund
Are Public Sale tokens locked?
Public Sale tokens are expected to be 100% unlocked at TGE. There is no locked participation track for this Public Sale.
When will BFI be distributed?
Public Sale tokens are expected to be distributed at TGE and unlocked at TGE.
Sonar handles identity, eligibility, wallet checks, and purchase permits. Token distribution is handled separately according to the final sale terms.
How do refunds work?
If the sale is oversubscribed, allocations are reduced pro-rata so that total allocations fit the available Public Sale supply. The unallocated part of a user's commitment is refunded or made claimable after settlement according to the final sale rules.
For example, if the sale is 2x oversubscribed, a participant may receive 50% of the committed amount as allocation, while the remaining 50% is refunded or made claimable.
What is sBFI?
sBFI is the non-transferable receipt token users receive when they stake BFI. It represents a staked position and accumulated rewards.
What can sBFI holders receive?
Subject to governance and program design, sBFI holders may receive access to governance participation, protocol growth incentives, yield boosts, fee discounts, ecosystem opportunities, and future product access.
How does governance work?
Only staked BFI, represented by sBFI, is expected to be eligible for BitFi governance. Governance is expected to cover protocol parameters such as collateral onboarding, yield strategy parameters, fee structures, integration priorities, and protocol growth incentives.
Legal and Risk
What are the risks of participating?
Digital assets are volatile and involve a high degree of risk, including the risk of total loss. Key risks include token price volatility, limited liquidity, regulatory changes, eligibility or wallet screening failure, smart contract risk, operational delays, counterparty exposure, and changes to TGE or distribution timing.
Does this page constitute investment advice?
No. This page is for informational purposes only and does not constitute investment, legal, tax, or financial advice.