Hifi presents itself as a decentralized finance (DeFi) protocol facilitating crypto lending and borrowing at fixed interest rates. Its structure revolves around decentralized interest rate markets that reach maturity on predetermined dates. These markets operate through an Automated Market Maker model, wherein users contribute tokens to "liquidity pools," and an algorithm determines the interest rate based on supply and demand dynamics. Participants engage in liquidity provision, borrowing, or lending across active markets. Borrowers pay a fixed interest rate to lenders without the need for negotiating terms such as maturity, interest rates, or collateral. By contributing tokens to liquidity pools, users not only earn rewards but also facilitate peer-to-peer lending and borrowing. Hifi Governance embodies the community-driven process for overseeing the Lending Protocol. HIFI, an ERC-20 token, grants its holders the authority to delegate voting rights to any address, including their own. These delegated voting rights adjust automatically based on changes in the owner's token balance. Hifi Governance empowers the community to propose, vote on, and implement changes through the administrative functions of the Hifi Protocol. Such proposals may involve altering system parameters, introducing new markets, incorporating additional collateral types, or allocating resources to specific initiatives. Originally launched as Mainframe in November 2017, Hifi initially served as a decentralized communications layer for Web3. However, it later transitioned to focus on decentralized finance (DeFi), leading to its rebranding as Hifi in early 2020.