1/1/2024 0 Comments Beefy finance![]() Otherwise, click on the “ Buy Token” and it will redirect you to the platform mentioned in the “ Uses” field to add and buy the desired (Static in this case) token. If you are already holding those tokens, you can directly go and deposit the token by clicking on the “ Add liquidity” button. You can see the “ Uses” field to check the platform it uses (In this case, it’s PancakeSwap). To participate in it, we would require Static and BUSD tokens. Now, let’s suppose we wish to participate in the Static-BUSD Pool. Therefore, you will now see the platform landing page consisting of various vaults or Liquidity pools. ![]() The platform allows you to connect with Metamask, Wallet, Binance Chain Wallet, among others. For this guide, we will choose the Binance smart chain network. Then, you need to select your desired network. The Beefy Finance platform supports Binance Smart Chain, Polygon, Avalanche, Fantom, among others. Then, you have to connect your wallet to access the platform. To use the Beefy Finance platform, visit their official website and click on “ Launch App.” Here we’ll continue with a step-by-step guide to using this platform. However, users are not required to hold the platform token to access and use the platform. You can get the token from multiple platforms like Binance, Pancakeswap, TraderJoe, etc. Users holding BIFI tokens in any supporting chains can participate in governance activities. $BIFI is the native governance token of the Beefy finance platform. Whereas yield optimizers are projects that use complex strategies and algorithms to analyze the maximum revenue from the yield farming projects. In simple terms, yield farming is a process of staking/ locking your liquidity pool token into a yield/farm pool. What Is Yield Optimizer and How It Is Different From Yield Farming? Also, it redistributes a large of the platform revenues to its $BIFI shareholders. Moreover, the support to multiple networks, including the L2 Arbitrum network, allows the users to access Beefy Finance at a low cost. Once you deposit your funds, you will receive $mooTokens that represents your share in the vault. Also, the vault does not impose any locking period. These vaults use a specific set of strategies and automation techniques that periodically reinvest your deposited funds with a compound effect. The platform has a native token, name $BIFI. It is the first Yield Optimizer on Binance Smart Chain (BSC). The platform offers a huge number of liquidity pools called Vaults where users can deposit their liquidity pool/ single assets and multiply their profits. Beefy Finance is a Multi-chain yield optimizer platform.
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