What is Beefy Finance?
Beefy Finance is a decentralized multi-chain yield optimization platform that allows its users to earn compound interest on their cryptocurrencies. Through a series of investment strategies supported and enforced by smart contracts, Beefy Finance automatically maximizes user rewards from various liquidity pools (LPs), automated market making (AMM) projects and other agriculture return opportunities in the DeFi ecosystem. The main product that Beefy Finance offers are the "Vaults" in which you stake your crypto tokens. The specific deposit investment strategy will automatically increase the deposited token amount by adding arbitrary yield farm reward tokens to the initially deposited resource. Although the name "Vault" suggests, your funds are never locked in any vault at Beefy Finance; you can always withdraw them at any time. DeFi apps are unique in that they are permissionless and trustless, meaning anyone with a wallet can interact with them without the need for a trusted middleman. Even though you have funds in a deposit, you still have 100% control of your cryptocurrency. What is $BIF?
$BIFI tokens are “dividend-eligible” income shares in Beefy Finance, through which holders earn earnings generated by Beefy Finance and are entitled to vote on important decisions on the platform. For all distributed deposits on each blockchain, Beefy Finance has its native $BIFI governance token. Platform revenue is generated from a small percentage of all vault winnings and distributed to those who stake $BIFI. Revenue sharing mechanisms imply that you can stake $BIFI to win more $BIFI in a max BIFI vault or win $ETH, $BNB, $FTM, $MATIC, $AVAX, $HT, $ONE, $CELO, $MOVR or $CRO in native stake pools. The $BIFI supply is limited to 80,000 tokens and is available on major decentralized exchanges like Binance, 1inchexchange, and PancakeSwap. For more details, please refer to the official Beefy Finance documentation: https://docs.beefy.finance/moo/