Beefy Finance is a decentralized finance (DeFi) yield optimizer project.
Beefy Finance What is it?
Beefy Finance is a Decentralized Finance (DeFi) earnings optimizer program that allows its users to earn more cryptocurrency using cryptocurrency. the DeFi application is unique in that it does not require authorization and trust, meaning that anyone with a backed wallet can interact with it without the need for a trusted middleman. Beefy Finance serves its users by making it easy for them to access their cryptocurrency capital in a secure and decentralized manner. Through a set of smart contracts and multiple investment strategies, Beefy Finance automatically maximizes user rewards from various liquidity pools (LPs), automated market making (AMM) programs, and other liquidity mining opportunities in the DeFi ecosystem. This provides a huge advantage over trying to do it manually yourself. Let's boost those yields!
This project was formed by an anonymous team inspired by the Revenue Optimizer project developed on the Ether network. As a team with many years of experience in the cryptocurrency industry, we believe in "no trust, direct verification". That's why projects like ourGovernance Token Distribution ContractSuch data is open to anyone to verify that everything will work as expected. We are committed to this philosophy of complete transparency, which is especially important in an emerging ecosystem like decentralized finance.
Beefy Finance offers simple and intuitive complex strategies that any investor can participate in through the vault products on the platform. The first set of vaults went live on the Coin Smartchain (BSC) on October 8, 2020, making Beefy Finance the first revenue optimizer on the BSC. With the inherent advantages of speed and low fees of the CoinAsian Smartchain, the team is exploring new ways to automate optimization to ensure maximum yield. After the initial deployment on the Coinan Smartchain, Beefy Finance then expanded to other blockchains such as the Firecoin Ecosystem Chain (HECO) and Avalanche.
From all vaults deployed on each blockchain, Beefy Finance is centered on its native governance token, $BIFI. Platform revenue comes from a small percentage of all vault profits and is distributed back to those who hold $BIFI. As a decentralized project with an entrenched cryptocurrency mindset, Beefy Finance also has a robust governance system that puts decision making in the hands of the project's investors through a governance mechanism built around $BIFI.
What makes Beefy Finance unique?
Beefy Finance has several key advantages over other existing revenue optimizers.
- Beefy Finance largely distributes platform revenue back to those who are $BIFI holders. With $BIFI, you essentially hold a dividendable share in the "company".
- Beefy Finance has over 10 smart contract developers who carefully test and review our vault, investment strategies, new platform and smart contracts before releasing them to the public. beefy also actively encourages developer participation to make Beefy Finance a better product.
- Beefy Finance is very flexible and can run on multiple blockchains.
- More people are involved in testing and reviewing, and any bugs are shallowly detectable. We believe that the more extensive the source code is used for public testing, review and experimentation, the faster bugs of all forms can be found. This is a principle that Beefy has always adhered to.
- Beefy offers unique strategies not found in other yield optimizers. This includes liquidity pool pairs that can only be found on the Beefy platform.
- The mooVault Revenue Optimizer has a very high APY and outperforms many of its competitors in liquidity mining programs.
- Beefy Finance is a supporting partner of Trust Wallet, the official decentralized wallet of Coinan. This provides credibility to the project and increases overall trust.