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I will show you how to invest on OXD-USDC Liquidity Pair on Beefy.Finance and Earn 2.62 Million APY.
Beefy Finance Liquidity Gems
In beta.Beefy.finance you can see all the extremely high yield liquidity pools by different chains. As you can see pFTM-FTM LP provides ultra yield of 77.22Q APY or 9.49% daily APY. Grape-MIM LP provides 338.9 Million APY on Avalaunch chain. You can sort liquidity providers by Blue chip meaning major crypto like ETH, BNB, LINK, YFI, and SUSHI. Also able to sort APY by Stablecoins USDC, MAI, MIM, USDT, DAI, IRON, BUSD and even national currencies like JJPY, JCAD, and EURt.
What is Beefy Finance
Beefy Finance is a multichain yield optimizer. It is a Multi-Chain 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 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. While you have funds staked in a vault, you remain 100% in control of your crypto. Beefy Finance is clone of the? ?yield? ?optimization? ?projects ?created? ?by? ?yearn.finance?, Andre? ?Cronje? ?and? ?the? ?YFI? ?community have quickly inspired many others. This is an excellent ?development ?that? ?is ?helping? to ?grow? and secure ?the? ?Ethereum? ?ecosystem.
How to Optimize Yield On A Fast Chain
Yield? ?optimizers? ?on? ?fast blockchains, such as the Binance? Smart Chain, ?present? ?a? ?different? ?set? ?of? ?problems, challenges and opportunities.? ?While? ?on? ?Ethereum,? where ?gas? ?fees? ?are? ?high,? ?it? ?makes? ?sense? ?to? ?focus? ?on? ?gas? ?savings, and ?pooling? ?funds? ?to? ?deploy? ?strategies.? ?Working? ?on? ?the? ?Binance? ?Smart? ?Chain,? ?where the fees are far smaller, ?the? ?focus? ?moves? ?to? ?optimizing? ?automation? ?to? ?secure ?the? ?greatest ?yields? with less concern for the amount of interactions necessary ?to? constantly ?improve? ?a? ?moving? ?APY.? ?The doors open up to more complex strategies and frequent rebalances.
With? this ?automatization,? Beefy Fiance? ?provide? ?a? ?simple? ?way? ?for? ?investors? ?to? ?interact? ?with? ?pools,? ?projects,? ?and? ?other yield? ?opportunities? ?without? ?having? ?to? ?constantly make decisions and take? ?manual? ?actions?.? ?This is a ?necessary? ?step? ?to? ?leveling? ?the? ?playing? ?field,? ?allowing? ?small? ?investors? ?to? ?have? ?access? ?to? ?the? ?same? ?opportunities? ?that? ?so? ?far? ?only? ?whales? and full-time yield-farmers on Ethereum ?have? ?had? ?access? ?to.? ? ?
Building within BINANCE Smart Chain's open ecosystem, with its connection to the Binance? ?infrastructure?, ?removes far more constraints? ?than just high? ?fees.? Beefy brings yummy ?stakes? ?to? ?your? ?table.? Beefy Finance has its native governance token $BIFI at its core. Platform revenue is generated from a small percentage of all the vault profits and distributed back to those who stake $BIFI.
Vaults on Beefy Finance
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.
Vaults are the core of the Beefy.Finance ecosystem. In a Beefy vault, you earn more of the asset you stake in it, regardless if this is an liquidity pool (LP) token or a single asset. For example, vaults where one can stake BTC-BNB LP will result in more BTC-BNB LP over time, effectively growing your share in the vault and thus allowing for more and more rewards over time.
Despite the name 'Vault' suggests, user funds are never locked in any vault on Beefy.Finance. One could always withdraw from a vault at any moment in time. Beefy.Finance also does not own user funds staked in vaults. However, it is generally best to view vaults as investment tools to store funds for the medium to long term in order to have the effects of compounding really kick in.
When browsing the vaults on the platform, you will see the annual percentage yield (APY), which takes the frequent compounding into consideration compared to annual percentage rate (APR) which does not. You will also see daily interest percentages and the total amount invested in a vault by all users (TVL). Furthermore, one can see what underlying platform the vault is using as a source of revenue.
vaults can:
Efficiently execute yield farming strategies.
Compound rewards into the initially deposited token amount.
Use any asset as liquidity.
Provide one asset as collateral for another.
Manage collateral at a safe level to mitigate liquidation.
Put any asset to work to generate a yield.
Reinvest earned profits.??
How to Buy Fantom Tokens
First, In order to participate Defi investing, you need to purchase Fantom tokens. I would buy Bitcoin from App like Strike with no fee just under $100 buy spread between market price of Bitcoin and buy price of bitcoin. Send it to a great exchange like CoinEx without any transaction fees because Strike App uses Bitcoin lightining network with zero transaction fees. Use those Bitcoins to buy Fantom tokens. CoinEx withdrawal fee for Fantom tokens is like 0.02 Fantom. It is like $0.04 at current price of Fantom at $2. Send those Fantom tokens to METAMASK Wallet. You need to create a MetaMask Wallet. Easiest is to install MetaMask Chrome Extension wallet. I will provide links to it. You need to setup seed phrase and never share that will anyone. I mean never! You can also install Metamask android and IOS app as well for extra safety to confirm your seed phrase is correct before you send funds to it.
Second, You need to buy Fantom token from a centralized exchange. I use coinex.com because withdrawal fees are 0.01 Fantom and trading fees are very low as well. I will provide a link below to Coinex exchange as well. Withdraw this Fantom to the MetaMask Wallet address. Click the copy button and copy the wallet address. Go back to Coinex withdrawal tab and past the address. Since you are withdrawing to private self custordy wallet, you do not need a memo. Click null. Click Submit and enter the 2FA code provided by Authenticator app. Confirm your withdrawal and your funds will arrive in few minutes. If you do not see your funds in a few minutes reflesh the MetaMask app.
Swaping Fantom Tokens for USDC and OXD Token
I used the official SpookySwap to swap Fantom (FTM) Tokens to USDC and OXD tokens. Go to spookyswap.finance/swap and connect your metamast wallet to swap out Fantom tokens for USDC. At the shooting of this video, 1 Fantom token is around 2 USDC. I paid little less than $1 (0.4 FTM tokens) for Swap fees from FTM to USDC and OXD swaps each.
How to Deposit USDC and OXD Token
As of shooting this video, in Fantom network USDC and OXD has a APY return of 1.2M%. That is correct 1.2 M APY.
After you connect your MetaMast wallet, select how much you want to deposit. In my example I invested $500 for this demonstration. You need to Click approve first with Fantom gas fee that is under few US cents. After this approved, you need to click Approve and pay Gas with Fantom that is less than 0.25 FTM tokens. You can use similar way to withdraw funds later from Beefy Finance network.
Risk vs Rewards
Beefy Finance provide great APY other chains besides Fantom. I do not provide any investment advice because I am not a licensed investment advisor. Take following advice as information only.They offer great APY on BSC, Heco, Avalaunche, Polygon, Harmony, Arbitrum, Celo, Moonriver, cronos, fuse, metis, and Aurora. I find Fantom APY is the highest. In cello cUSD-USDC LP stable coin pair was offering 15.7% APY. That is risk free defi investing as it gets. On BSC, DIBS-BNP is a great pair. On Avax, Grape-MIM LP is great pair to invest at 25.28 M APY. On Arbitrum there is MIM/USDC/USDT LP with 19.4% APY. For all stable coins LP pair it is a great risk free defi investment. I have no risk by staking on both stable coin pool other than smart contract exploits on SpookySwap (for Fantom) or TraderJoe (for Avax) defi exchanges. Always refer to www.defisafety.com/pqrs to evaluate smart contract risk to your Defi exchange of choice.
