Beefy is a Decentralized, Multichain Yield Optimizer that allows its users to earn compound interest on their crypto holdings. Beefy earns you the highest APYs with safety and efficiency in mind.
Through a set of investment strategies secured and enforced by smart contracts, Beefy 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 are our Vaults. The investment Strategies tied to the Vaults will automatically increase your deposited token by compounding arbitrary farm reward tokens from decentralized exchanges back into your initially deposited asset. Despite the inference of the name Vault, your funds are never locked in any contract on Beefy: you can always withdraw at any moment in time.
DeFi applications are unique in the sense that they are permissionless and trustless, meaning that anyone with a supported wallet can interact with them without the need for a trusted middleman. While you have funds staked in a vault, you remain 100% in control of your crypto.
What is $BIFI?
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 twofold: 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 our 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.