Today we are going to talk about this DeFi project called Beefy.finance, and at the end of this review you will have access to the link to other reviews done by me. Let's go?
Well, to start let's say that although in some situations I find the project's site a little heavy, it really is a very functional and well organized interface. Let's go into detail to understand a little better how it works.
Beefy.Finance itself is an aggregator where you can stake liquidity pools, such as liquidity pairs from PancakeSwap, JulSwap, BakerySwap or StreetSwap for example. You add the liquidity in the mentioned pools and then you farm through the Beefy's stake platform based on the chosen pair and APY yields.
On the dashboard when we press the "buy" button, you will automatically be redirected to the OpenOcean swap system. In addition to the farm pool that we will talk about below, we have the panel with the current status of the project, the used governance contracts, the documentation, a voting page, barn that I will talk about a little later. See below the current status in the dashboard:
Below you will see the Barn panel, which contains some basic forms of stakes and yields also on partner liquidity pools like JulSwap, see:
And this is the Barn options:
Now let's see the complete list of farms that are possible through the Beefy.Finance platform. Through the Vaults, you choose the best option that fits your farmer strategist profile and To The Moon! The Sky is the Limit!
I myself made a stake in two farm options that I will show at the end:
And it is also possible to stake in micro-actions of Tesla, Netflix, Amazon and Google. There are really many options for interaction and farm.
And there really are a multitude of options for liquidity pool, traditional crypto-currencies like BTC, BCH, LTC, LINK, ETH, BNB, among others, to stablecoins like BUSD, USDC, USDT, DAI.
Now below I will show you the farm I chose at Beefy.Finance. Considering the annual income, it seems like a good option. Take a look at the yield for a few hours:
This is the DITTO-BNB LP pair, which I provided liquidity through PancakeSwap. Ditto (DITTO) is an elastic token, similar to Ampleforth (AMPL), subject to rebase, this is a long story and take cuiudate with this type of investment, it is extremely risky. It is recommended to study the mechanics before any position.
If you have the habit of investing in DeFi, you can monitor the returns of your farms through Yield Watch, just by entering the BINANCE Smart Chain (BSC) address of your portfolio in the following link:
https://yieldwatch.net/
BIFI Token
And finally we should also mention the Beefy.Finance token, which is BIFI. See its information according to the Coingecko indexer.
Circulating Supply:
76,000 / 80,000
Beefy.finance is a yield optimizer. Taking advantage of Binance Smart Chain's low fees, the project is able to automate actions programmatically to bring you better income opportunities.
https://www.coingecko.com/en/coins/beefy-finance
If you enjoyed this review and want to know more about other projects, check out the links below:
BakerySwap Review
BurgerSwap Review
JulSwap Review
PancakeSwap Review
JetFuel Review
Harvest.Finance Strategy Contest (CropSpotter)
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