From ef72e973442ceaa6b39ce320220a60ed44488a83 Mon Sep 17 00:00:00 2001 From: Alex Pham <925workk@gmail.com> Date: Fri, 10 Jan 2025 13:55:19 -0700 Subject: [PATCH] removed faqs text. --- faqs.txt | 59 -------------------------------------------------------- 1 file changed, 59 deletions(-) delete mode 100644 faqs.txt diff --git a/faqs.txt b/faqs.txt deleted file mode 100644 index 1ee0052..0000000 --- a/faqs.txt +++ /dev/null @@ -1,59 +0,0 @@ -# Frequently Asked Questions - -## Protocol - -Q: What is Hifi Protocol? -A: Hifi Protocol is a US-based decentralized lending protocol that enables fixed-rate, fixed-term borrowing using real-world assets and other ERC-20 tokens as collateral. We specialize in bringing real-world assets on-chain to serve as collateral. - -Q: What assets can I use as collateral? -A: Currently supported collateral assets include: -- ETH (125% collateral ratio) -- VWMBp (125% collateral ratio) - Real-world asset token -- SHEETp (333% collateral ratio) - Real-world asset token -- CRE1p (125% collateral ratio) - Real-world asset token -- HC1 (167% collateral ratio) - Real-world asset token -- RCC1 (125% collateral ratio) - Real-world asset token - -Q: How do collateral ratios work? -A: The collateral ratio represents the minimum amount of collateral value required relative to your borrowed amount. For example, with ETH's 125% ratio, you need at least $125 worth of ETH to borrow $100. - -Q: What makes Hifi unique? -A: As a US-based protocol, Hifi distinguishes itself by focusing on bringing real-world assets on-chain as collateral, making DeFi more accessible to traditional finance while maintaining regulatory compliance. - -## Governance - -Q: How is Hifi Protocol governed? -A: Hifi Protocol utilizes decentralized governance where token holders can propose and vote on protocol changes and improvements. - -Q: How can I participate in governance? -A: Token holders can participate by creating proposals, voting on active proposals, and joining governance discussions in the community Discord server. - -## Hifi DAO - -Q: What is Hifi DAO? -A: Hifi DAO (Decentralized Autonomous Organization) is the governing body of the Hifi Protocol, composed of token holders who collectively make decisions about protocol development and management. - -Q: How are DAO decisions made? -A: Decisions are made through a democratic voting process where token holders can submit proposals and vote on changes to the protocol. - -## Security - -Q: How secure is Hifi Protocol? -A: Hifi Protocol prioritizes security through: -- Smart contract audits -- Bug bounty programs -- Conservative collateral ratios -- Transparent protocol operations -- Compliance with US regulations and standards - -Q: What happens if my collateral value drops? -A: If your collateral value drops below the required ratio, your position may be liquidated to protect the protocol and other users. It's important to maintain a healthy collateral ratio above the minimum requirement. - -Q: How can I ensure the safety of my assets? -A: To protect your assets: -- Monitor your collateral ratio regularly -- Maintain a buffer above minimum requirements -- Use official interfaces and contracts -- Never share private keys or seed phrases -- Verify you're interacting with official Hifi Protocol contracts -