Beefy Finance is a Decentralized, Multi-Chain Yield Optimizer platform that allows its users to earn compound interest on their crypto holdings. Through a set of smart contracts and several investment strategies, Beefy Finance automatically maximizes the user rewards from various liquidity pools (LPs), automated market making (AMM) projects, and other yield farming opportunities in the DeFi ecosystem. This provides a huge advantage over attempting to do this manually yourself.
A special feature of Beefy Finance is that this project is deployed on many different blockchains including BNB Smart Chain, Avalanche, HECO Chain, Polygon and Fantom. Users can participate in the DeFi ecosystem with multiple Farming Pools of their own choosing on various blockchains through a single platform.
The profit that users receive from Beefy Finance is mainly come from the Vault tool. Vaults are investment instruments that employ a specific set of strategies for yield farming. They make use of automation to continually invest and reinvest deposited funds, which help to achieve high levels of compounded interest. By using a Beefy vault to compound your gains, you save thousands of transactions with their associated gas costs, and precious personal time. Instead of manually harvesting and selling rewards, buying more tokens, and reinvesting that continuously, a vault does all that automatically at a high frequency.
BIFI is a native token of the Beefy Finance ecosystem, operating on BNB Smart Chain according to BEP20 standard, and can be used to: