Beefy Finance Crypto Platform

Pros

$346,224,509 USD currently invested (TVL)

Investments in 396 coin pairs available

Supports 15 protocols including Fuse Sparknet, Arbitrum and Ethereum

Cons

Investments in liquidity pools can be higher risk

Liquidity pool investments are only suitable for advanced crypto users

Beefy Finance Reviews

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.

Beefy Finance Supported Currencies

Beefy Finance supports over 100 currencies including Bitcoin, Ethereum, Tether and Cardano.

Beefy Finance Languages

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

Beefy Finance Key Data

Company

Automatic market maker	Yes
Year founded	2,021
Decentralised	Yes
Non-custodial	Yes

Products

Savings accounts	Yes
Loans	No
Crypto to crypto exchange	Yes
Peer to peer exchange	Yes
Margin trading	No
Instantly buy crypto with fiat	No
Integrated crypto wallet	No
Futures exchange	No

Security

Cold storage	No
Two factor authentication	No
Know your customer	No
Credit check	No

Useful Links

Beefy Finance Contact Details