I am going to talk about Beefy, a DeFi platform that focuses on yield farming optimization and automation.

Beefy Finance provides yield-optimizing vaults which provide automatic maximization of returns from diverse liquidity pools and staking opportunities.

Users find it easy to earn money with minimal effort because Beefy takes care of the hard parts by employing sophisticated technology and methods.

What is Beefy?

Beefy is a Decentralized, Multichain Yield Optimizer platform that allows its users to earn compound interest on their crypto holdings.

Through a set of investment strategies secured and enforced by smart contracts, 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.

The main product offered by Beefy Finance are the ‘Vaults’ in which you stake your crypto tokens. The investment strategy tied to the specific vault will automatically increase your deposited token amount by compounding arbitrary yield farm reward tokens back into your initially deposited asset.

Despite the name ‘Vault’ suggests, your funds are never locked in any vault on Beefy Finance: you can always withdraw at any moment in time.

Beefy Overview

Beefy Price Live Data

Earn with Beefy

Stake

Invest your token in a Beefy single asset Vault.

Earn

Beefy stakes the token on an external, interest-bearing platform.

Reinvest

Your interest is used to purchase more of the asset and reinvested.

Autocompound

Beefy regularly and automatically repeats the process, saving you time and fees.

BIFI Token

The $BIFI Token is the governance token of the Beefy DAO. It is the central asset which connects all stakeholders across the Beefy project, to perpetuate the virtuous cycle of value creation which Beefy was invented around.

The token’s utility is two-fold: first tokenholders are entitled to vote in important Governance decisions for the DAO; and second a part of all revenue generated by vaults within the Beefy Protocol are directed towards tokenholder Incentive Programmes.

Incentives are regularly paid out through the protocol’s BIFI Pool and BIFI Vault, which require tokenholders to deposit their $BIFI tokens to participate.

The supply of $BIFI is limited to 80,000 tokens, with no capacity for mint or burn functions.

As such, the Beefy DAO does not issue or trade in $BIFI tokens, and $BIFI may only be acquired through third-party exchanges, including Binance, Crypto.com and Uniswap.

BIFI Maxi

BIFI holders share in our revenue by staking their BIFI in Beefy Maxi vaults.

BIFI Earnings Pools

Staking BIFI in a BIFI Earnings Pool rewards you with native tokens with the platform’s earnings.

Vote

Our Snapshot governance mechanism gives your BIFI voting power in Beefy’s DAO.

Fixed-Supply

A fixed supply of 80,000 BIFI acts as a control against token inflation.

Beefy Protocol

Beefy is first and foremost an autonomous, decentralized yield optimization protocol. Though the wider project and DAO which surround the protocol are central to Beefy’s operations and identity.

In fact the protocol functions entirely independently of any such individuals, and will continue to do so on blockchain in perpetuity, even after all other stakeholders are left (even if very, very broken at that stage).

This page provides a short summary of the protocol, designed to onboard novice users as to how the protocol will put their inputs to use. The detail on this page is simplified, and is generally non-technical in nature.

Best Beefy Alternatives

Yearn Finance (YFI)

Yearn Finance creates a self-propagating system of yield farming by shifting funds to the most profitable pools, providing an effortless yet profitable DeFi experience.

Harvest Finance (FARM)

Harvest Finance concentrates on the more automated side of yield farming activities and compounding profits, allowing users to spend the least amount of effort to earn the most profits.

Convex Finance (CVX)

Convex Finance increases CRV earnings for liquidity providers and CRV stakers, offering superior returns without requiring tokens to be locked.

Autofarm (AUTO)

Autofarm has a multi-chain yield optimizisiton strategy which enables users to earn more across multiple DeFi platforms with petit fees.

PancakeSwap (CAKE)

PancakeSwap is a top tier DeFi platform within the Binance Smart Chain that enables yield farming, staking, and decentralized trading on a set of rewards.

Conclusion

In short, Beefy Coin (BIFI), with a price of $299.73 and a market cap of $23.97M, has positive fundamentals along with a rightfully maintained fully diluted valuation at its supply of 80K BIFI.

With a price hike of 3.29% in a day and good volume over market cap ratio of 2.15%, BIFI still proves to be a strong asset and investment for all crypto followers.

Its capped supply ensures scarcity making it an attractive option for long holding investors. Like we always recommend, do your own research and check the market indicators before putting your money in.