Sirwin
Sirwin
This article takes a quick look at Beefy.finance

Beefy Finance - A Vault for the BSC

By Ceazor | Ceazor's Snack Sandwich | 30 Oct 2020


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Beefy Finance is a yield farming vault style protocol that resides on the Binance Smart Chain (BSC).  Currently, they interact with Pancakeswap, FryWorld, and ForTube (links below)  Currently, at the time of this writing, some of the yields are above a whopping 10000% APY.

They're gonna be moooing a lot of money. 

The main feature of this protocol is to allow people to automate their yield farming investments.

 

If you’re bullish on $CAKE, stick it here and you are certain to get more $CAKE.

If you’re bullish on $BURGER stick it here and you are certain to get more $BURGER

Same thing for, $WBNB, $BUSD, $LINK, $DOT, $USDT, $ETH, $BTCB

 

What Beefy is going to do for you is deposit your asset into the respective protocol, harvest the rewards, sell the rewards at market for your deposited asset and stake them into that protocol in an endless feedback loop that makes gains go crazier than a mad cow. 

 

Why do I need them to do this for me? You might ask. 

 

Well, there are several reasons. All the depositors' funds are pooled together and they share in the gas fees. Also, there is the convenience of not needing to attend to this. There is also a complicated daily dollar cost average mechanic that I won’t explain here in full detail beyond the idea that they do the market sell/buy several times a day. 

 

There is a small fee for this service, though, and it’s 4%. 4% of the profits only. 

 

If it bothers you that you need to pay them, you can get some of this fee back, simply by buying $BIFI from Pancakeswap and staking in in beefy.finance as that is where those 4% fees are going.

 

Anyway, if you lazy like a cow in pasture that just wants to eat the grass, or if you hope to save the pennies it costs to do transactions on BSC then give Beefy a looks

 

Ceazor 

 

Here is a video that explains things in a bit more detail and offers you a look at what I am talking about. 



Links to sites

https://beefy.finance/

https://pancakeswap.finance/

https://bsc.for.tube/bank/home

https://fry.world/farms

 

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Ceazor
Ceazor

I'm Ceazor of Ceazor's Snack Sandwich and I love crypto


Ceazor's Snack Sandwich
Ceazor's Snack Sandwich

This blog is a collection of articles on DeFi and cryptos on both ETH and BSC. Most articles are also in video form and can be found on my channel here. https://www.youtube.com/channel/UC_o4_cOevPVYC5pXs9OOexg?

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