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Home Platforms Beefy Finance
Beefy Finance reviews

Average rating of 58% based on 8 reviews.

Founded 3 years ago in 2021.

Use anonymously. No KYC required.

Decentralised exchange.

Reviewed by Yunis
18 October 2022 (Updated 21 July 2024)

Beefy Finance Crypto Platform

Beefy Finance is a Decentralized, Multi-Chain Yield Optimizer platform that was launched on September 21, 2020. Beefy Finance is a Decentralized Finance (DeFi) that supports multiple blockchains, including Ethereum, BNB Chain, HECO, Harmony, Optimism, Polygon, Fantom, Avalanche, Moonriver, Fuse, Metis, Kava, Cronos, Moo beam, Arbitrum, Emerald, Celo and Aurora.

To get started with Beefy Finance, you can visit the website and easily launch App and connect your wallet. After registration, you have a variety of options on the platform. For instance, if you search for stablecoin pools to see how much yield you can get on those, if you want to earn on your stable coins and then on some other tokens as well to see what yields you can get on your tokens, you can see different yields from different pools on the list. Those pools can be listed with respect to either security, APL, or any other interest. Token holders can choose what coins they actually want to hold by considering the list of LPs.

Vaults are the main products that the Beefy offers to users. Basically, vaults are strategies for yield farming that automatically optimizes the best yield farming with smart contracts. Beefy Finance provides the best yields from different Liquidity Pools (LPs), AMM, or other yield farming opportunities and increases the deposit funds. Without considering which liquidity pool (LP) or single asset is used, users get more assets than they have through compound interest. As a result, these vaults automate the best yield farming opportunities for the users. Mootokens are deposit funds that users earn as rewards in the vault system.

Another quality that Beefy Finance offers us is the Zap Transaction. This is a known fact that transactions are inevitable among the crypto chains. What makes Beefy Finance different from that transaction is to reduce many steps of changes into just one step. Instead of Manuel transactions which are complex and cause to consume a lot of percent yield, beefy does simply all of this with one click.

To talk about the tokenomics of Beefy Finance, $BIFI is the native and governance token in the Beefy protocol. BIFI tokens are used for staking, voting on the platform, and also transaction fees for vault transactions. There is a total supply limit of 80,000 tokens. 8,000 for the team and its protocols and the circulation supply is distributed as 72,000 BIFI. Beefy Finance has a market capitalization of $109.6 million. For the team, transparency is significant so the governance token distribution contracts are open to anyone. In the short history of BeefyFinance, there are no exploit or hack problems.

Pros

tick $180,097,368 USD currently invested (TVL)
tick Investments in 284 coin pairs available
tick Supports 12 protocols including Fuse Sparknet, Arbitrum and Optimism

Cons

cross Investments in liquidity pools can be higher risk
cross Liquidity pool investments are only suitable for advanced crypto users

Beefy Finance Staking Yields

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Columns
  Product Yield Chain Term Yield Yield Trend TVL TVL Trend
EXA-WETH
758%
758% APY
Optimism
Instant Access
758%
758% APY
$39,680
IDIA-BUSD
119%
119% APY
Binance Smart Chain
Instant Access
119%
119% APY
$10,535
THALES-OPUSDCE
114%
114% APY
Optimism
Instant Access
114%
114% APY
$162,106
HERMES-METIS
101%
101% APY
Metis Andromeda
Instant Access
101%
101% APY
$51,254
THALES-ETH
97.5%
97.5% APY
Optimism
Instant Access
97.5%
97.5% APY
$19,864
CVXFPIS
84.8%
84.8% APY
Ethereum
Instant Access
84.8%
84.8% APY
$129,856
UNIDX-ETH
83.2%
83.2% APY
Optimism
Instant Access
83.2%
83.2% APY
$12,789
MAIA-MUSDC
68.9%
68.9% APY
Metis Andromeda
Instant Access
68.9%
68.9% APY
$42,512
USDR-TNGBL
59.7%
59.7% APY
Polygon
Instant Access
59.7%
59.7% APY
$18,865
VELOV2-OPUSDCE
56.7%
56.7% APY
Optimism
Instant Access
56.7%
56.7% APY
$182,688
MATIC-USDC
48.3%
48.3% APY
Polygon
Instant Access
48.3%
48.3% APY
$71,350
ETH-OP
48%
48% APY
Optimism
Instant Access
48%
48% APY
$40,136
XCKSM-MOVR
44.9%
44.9% APY
Moonriver
Instant Access
44.9%
44.9% APY
$245,246
CLEV-ETH
44.6%
44.6% APY
Ethereum
Instant Access
44.6%
44.6% APY
$28,171
FRXETH-MATIC
42.2%
42.2% APY
Polygon
Instant Access
42.2%
42.2% APY
$14,861
KWENTA-ETH
41.5%
41.5% APY
Optimism
Instant Access
41.5%
41.5% APY
$151,168
USDC-ETH
41.1%
41.1% APY
Polygon
Instant Access
41.1%
41.1% APY
$251,944
VELOV2-OP
40.3%
40.3% APY
Optimism
Instant Access
40.3%
40.3% APY
$165,957
MATIC-USDR
38.3%
38.3% APY
Polygon
Instant Access
38.3%
38.3% APY
$119,530
WELL-GLMR
37%
37% APY
Moonbeam
Instant Access
37%
37% APY
$25,677
No matching yield products found

Beefy Finance Reviews

Based on a total of 8 reviews across the web for Beefy Finance we gave the platform an overall rating of 58%.

User Reviews
Overall User Rating
58%
8 reviews 8
Is This Coin a Scam
58%
8 reviews 8
Reddit
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Beefy Finance YouTube Reviews

Beefy Finance Supported Currencies

Beefy Finance supports over 90 currencies including Ethereum, Tether USDt, Cardano and Avalanche.

Beefy Finance Languages

Beefy Finance's supports the following languages: English, Simplified Chinese and German.

Beefy Finance Key Data

Company
Automatic market maker tick Yes
Year founded 2021
Decentralised tick Yes
Non-custodial tick Yes
Products
Savings accounts tick Yes
Loans cross No
Crypto to crypto exchange tick Yes
Peer to peer exchange tick Yes
Margin trading cross No
Instantly buy crypto with fiat cross No
Integrated crypto wallet cross No
Futures exchange cross No
Security
Cold storage cross No
Two factor authentication cross No
Know your customer cross No
Credit check cross No

ALooking at reviews from across the web, Beefy Finance has an average review score of 58% based on 8 reviews.

Useful Links

Beefy Finance Contact Details

https://beefy.com/

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