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A Yield Farming Optimizer on Binance Smart Chain.
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Beefy.Finance is a yield farming optimizer on Binance Smart Chain which automates investment strategies utilizing liquidity pools. The platform helps investors to interact with various yield farming opportunities, without having to constantly review and manually execute their investment strategy.
The platform is constantly exploring new methods to optimize strategies to secure the largest yields available.
BIFI is the BEP-20 native governance token of the platform and has the following use cases:
Governance: By holding BIFI, either staked in the governance pool or BIFI Maxi Vault, users have the right to create proposals and votes. Users do not need to un-stake their tokens to participate in the voting process.
Staking: A portion of the fees paid by Beefy.Finance yield farming vault users is distributed to BIFI token holders staked in the governance pool and the BIFI Maxi Vault. Rewards are paid out in wBNB and BIFI respectively.
The protocol consists of the following major components:
Vaults: Vaults are investment instruments that employ a specific set of strategies for yield farming. They automatically invest and reinvest deposited funds, which help to achieve high levels of compounded interest.
Strategies: Vault strategies are modular smart contracts that tell the vaults what assets to farm, and where to sell the farmed assets. Rewards are regularly harvested, swapped for the original vault asset, and deposited again for compound farming.
Barn of Trust: Barn of Trust provides users the opportunity to earn rewards in several dApp projects by staking TWT or BIFI in the vaults.
Please click here for more details of the token distribution.
As of March 16th 2021, the total supply of BIFI is 80,000 and the current circulating supply is 95%.