Based on the Binance Smart Chain, Bonfire is a community-focused, frictionless, yield-generating contract. Based on an RFI tokenomic model, the project charges a 5% fee on each transaction, which is proportionally distributed to all Bonfire token holders. An additional 5% fee is put into the liquidity pool to give token holders more security.
The project continues to work toward its long-term objective of establishing a decentralized social media platform that will allow for NFT sales and sharing as well as other, as of yet unannounced, utilities and sub-projects. The incredible community that has grown up around Bonfire is its best asset. Donations to charities, contests, and giveaways all play a part in Bonfire.
Bonfire aspires to stand out from the competition and advance toward a stable future with many potential applications. The project is being led by individuals who genuinely believe in decentralized finances and the positive changes it can effect on the world and the global community. This is accomplished through a dedicated team of multi-skilled and highly technically experienced developers along with marketing and social engagement managers.