Beefy.Finance

Beefy.Finance

BIFI
$306.27%-8.02

Key Metrics

Price$306.27
Real Volume (24H)$1,132,452.56
Marketcap$24,501,562.09
Fully Diluted Valuation$25,312,059
ATH$4,116.95
ATH Date3/16/2021, 10:18:09 AM
ATL$3.28
ATL Date10/14/2020, 3:57:00 PM
Circulating Supply80K
Total Supply80K
WebsiteN/A
WhitepaperN/A
Popularity Rank891
Chart
What is Beefy.Finance?

Beefy Finance, also known as BIFI, is a decentralized, multichain yield optimizer that aims to help users earn the maximum possible return on their investments. A yield optimizer is an automated process that is designed to be more efficient and safe than manual methods. Beefy Finance operates on multiple blockchain networks, and seeks to maximize yields for its users through a combination of smart contracts and investment strategies.

One of the main features of Beefy Finance is its "Vaults," which are investment instruments that allow users to stake their crypto tokens in order to earn returns through automated market-making (AMM) projects, liquidity pools (LPs), and other yield farming opportunities in the DeFi ecosystem. The first vault was launched on the Binance Smart Chain (BSC) in October 2020, making Beefy Finance one of the first yield optimizers on BSC. Since then, the platform has expanded to other blockchains as well.

Beefy Finance's investment strategies are designed to automatically boost the user's token amount by compounding random yield-farm reward tokens back into the initial asset. These funds are not locked and users can access or withdraw them at any time. Additionally, the platform offers a tokenized proof of yield, known as MooToken, that users can earn when they stake their BIFI in the BIFI Maxi vault.

The native governance token of Beefy Finance is BIFI. BIFI holders can earn a share of the platform's profits through dividends, and also have the ability to vote on platform decisions. The revenue generated by the platform is distributed back to those who stake BIFI, and users can earn more BIFI by staking in a BIFI Maxi vault, or other currencies such as MOVR, ETH, BNB, FTM, MATIC, AVAX, HT, and METIS in the native staking pools.

Beefy Finance was launched on September 21, 2020 and has been steadily growing in popularity since then. The platform's long-term goal is to help projects grow together with DeFi, provide auditing services, and host hackathons for interesting strategies to add to the platform. Overall, Beefy Finance is a powerful tool for maximizing returns on crypto investments.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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