**CHFRY Finance**

![](https://i.imgur.com/NvlRJvH.png) # **CHFRY Finance** [CHFRY](https://chfry.finance/#/) is a new DeFi lending protocol with self-repaying loans, zero liquidation risk, flash loans, and future-yield-backed assets. # **Project Description** CHFRY powers the automated repayment of debt through diversified high yield strategies. The protocol allows users to deposit stablecoins (DAI, USDC, or USDT) as collateral to borrow against, and deploys this collateral into DeFi yield aggregators and utilizes it for flash loans to generate yield that will automatically pay off the loan. As such, a user takes a loan in the form of fUSD (a synthetic derivative that is pegged to a basket of top stablecoin assets at 1:1) that repays itself automatically, without risk of liquidation, and earns advances on the future yield through uncorrelated high yield strategies. CHFRY unlocks capital efficiency by combining yield aggregators with the yield-based debt model and diversifies the yield source by tapping into the potential of the flash loan applications. Our motivation for launching CHFRY is to solve existing DeFi market challenges related to capital inefficiencies, correlated yield strategies, and underutilization of the flash loan services. We aim to provide attractive, diversified yields for both less-sophisticated participants with limited crypto knowledge and more-experienced members with higher risk appetite. # Product Specifications CHFRY has four main products: Fryer, Oven, Cheese Factory, and Flash Fryer. 1. **Fryer**: This is like a vault that collects the user's base assets. When users make a deposit, they can mint up to 50% of their deposited amount in the form of fUSD, while their deposited assets are put to work to earn yield and pay off the loan. In order to diversify the sources of yield (a) 20% of the base asset is set aside as collateral for flash loans, and (b) the remaining 80% is deposited to YFI to gain reward. Vault depositors earn fees on flash loans, which go toward the maturing of debt positions along with the harvested yields from YFI. Flash Fryer fees provide a natural hedge against scenarios whereby DeFi aggregator yields come down — while maintaining the integrity of vault deposits. Consequently, CHFRY creates uncorrelated high yield strategies for its users, which means that the debt repayments can't be interrupted by market fluctuations. 2. **Oven**: This is like a debt converter where the interest produced by YFI and the flash loan service fees collected on Flash Fryer are thrown into periodically. Additionally, Oven allows users to stake their synthetic assets (fUSD) and have them converted into stablecoins over time at a fixed 1:1 ratio. 3. **Cheese Factory**: This is a center of all incentive programs, where staking and farming take place. In Cheese Factory, specific token holders can deposit their tokens to the farm pools and earn $CHEESE governance tokens. There are 6 different pools available: * fUSD3CRV Pool * fUSD Pool * CHEESE/ETH SLP Pool * CHEESE Pool * alUSD Pool * MIM Pool 4. **Flash Fryer:** This is a special rewards pool for flash loan users and a gateway to flash loan-powered applications. Flash fryer users have their yields enhanced by $CHEESE rewards - this incentive program is designed to boost the flash loan volume and in return increase the income from flash loans, which, as mentioned above, is directed toward maturing of the debt positions. # Roadmap In the 1st and 2nd quarters of 2021 the CHFRY team successfully completed market research, idea and concept development, project planning, and team formation. Additionally, we completed the beta stage development and the security audit of the protocol. In the 3rd quarter of 2021, we've started community building, released the CHFRY whitepaper and launched the testnet. Furthermore, in the same quarter, we introduced NFTs to our ecosystem and held an IDO, following which the mainnet (V1) was launched. In addition to this, the plans for the 4th quarter of 2021 and the 1st two quarters of 2022 include: Q4 2021: - Cheapest On-Chain Leverage Powered by Flash Loan - Oven V2: Promoting Faster Debt Repayment through the Investment of Idle Funds Q1 2022: - DAO Development - Multi Chain Interoperability - More Collateral Types - CHFRY Vault (Yield Diversification) Q2 2022: - Full On-Chain Governance System - Hackathon Organization - fUSD Cross-Layer Development # Resources and Social Profiles **Resources** ✔️ Website: https://chfry.finance/#/ ✔️ Whitepaper: https://github.com/chfry-finance/chfry-protocol/blob/master/docs/CHFRY%20-%20Whitepaper.pdf ✔️ GitBook: https://chfry-finance.gitbook.io/doc/ ✔️ GitHub: https://github.com/chfry-finance ✔️ Audit Report: https://github.com/chfry-finance/chfry-protocol/blob/master/docs/PeckShield-Audit-Report-Chfry-v1.0.pdf ✔️ Dune Analytics Dashboard: https://dune.xyz/0xpadfoot/CHFRY ✔️ Immunefi Bug Bounty Program:https://immunefi.com/bounty/chfryfinance/ **Social Profiles** ✔️ Twitter: https://twitter.com/ChfryFinance ✔️ Telegram: https://t.me/ChfryFinance ✔️ Discord: https://discord.com/invite/Xx2KfBU98q ✔️ Medium: https://medium.com/@chfry_finance ✔️ CoinGecko: https://www.coingecko.com/en/coins/cheesefry ✔️ CMC: https://coinmarketcap.com/currencies/chfry-finance/ ✔️ DeFi Llama: https://defillama.com/protocol/chfry-finance ✔️ DeBank: https://debank.com/projects/chfry