The Hifi Protocol offers instant liquidity against digital assets and is focused on serving NFT communities. The HIFI token is the new token for the Hifi Protocol, replacing the MFT token, and will be swapped at a rate of 100 MFT to 1 HIFI pending a governance vote. The total supply of HIFI will be 126.25 million tokens, with 100 million being redeemed by MFT token holders, 25 million allocated to Hifi Labs for development and support of the protocol, and 1.25 million airdropped to MFT holders participating in governance votes. The Hifi DAO will become a distinct legal entity that governs the protocol through HIFI token voting, with Hifi Labs supporting the protocol and ensuring a smooth transition to the DAO. Hifi DAO Governance uses Hifi Improvement Proposals (HIPs) to deploy actions and contracts on-chain.
