Fantom DeFi #2 - Beefy Fresh Statera Duet

By PVMihalache | Mind Puzzle | 9 Mar 2022


Over the weekend I staked Wrapped Staters ($wSTA) and Beethoven-X ($BEETS) on FANTOM, as an educational experience for an Publish0x competition. Was one of the lucky users and received $20 worth of wSTA, and made me look for the best staking option. This is how I discovered that the Statera Maxi Duet can be staked on Beefy.Finance, for auto-compounding rewards! Everything is Zom-Beethoven approved!

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Everything happens on the FANTOM chain. However, Fantom is not a real block-chain, but a Directed Acyclic Graph-based smart contract platform with 3 blockchains. The DAG system used by Fantom doesn't centralize all the power on a single decentralized ledger, creating a "decentralized, permissionless and open source, high performance, scalable, customizable and secure platform for smart contracts, designed to overcome the limitations of previous generation blockchains."

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Beefy Finance is a decentralized, multi-chain yield optimizer platform that adds compound interest on crypto holdings. Beefy expanded on FANTOM and the 1000% APY was like a symphony in my ears!

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I had the Statera Maxi Duet LP staked on Beethoven so I decided to pull it out and move it at Beefy.Finance for a much better yield return.

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The weekend earnings where decent... as I farmed 16.9 $BEETS in 48 hours.  But 1000% APY is better than 256% APR ... as the reward is better and will add up automatically to the deposit. 

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I decided to take the Statera Maxi Duet LP and move it to Beefy. I will say it again ... STATERA Maxi Duet ... on Beefy! I was quick-quick and deposited ASAP to get advantage of the early eantry.

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The Wrapped Statera & Beets Maxi Duet gets users ready for the DeFi Spring. The high APY and the low fees are few of the advantages of using FANTOM and Beefy.Finance

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I got beefy about this product, because I already staked both BEETS and wSTA. I must tell everyone about the low fees on FANTOM, the big APY on Fantom that keeps compounding.

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I followed the steps above and withdrew the Statera Maxi Duet from Beethoven-X, to stake it on Beefy. The APY while staking was 911%, with 0.6360% compounded daily. As a proof of quality pool ... the Total Value Locked was  $222,280 dollars.

The users will receive "mooBeetFreshStateraMaxiDuet" token as a receipt for the deposited $wSTA and $BEETs.  The token is required to withdraw the Statera Maxi Duet LP, so do not trade or transfer moo Beet Fresh Statera Maxi Duet to anyone.

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Did you hear my friend .... stake $STA and $BEETS to receive auto-compounding rewards. Did I make your spider-sense trigger? Or this is not a danger because of various reasons. The only danger is if the user will transfer the receipt/invoice.

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Good news from Beefy... as many users are opting to deposit the Fresh Duet in the auto compounding pool. I say this to all ... Milk it while is hot!

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Fantom DeFi Library:

Fantom DeFi #1 - Earning on Beethoven-X with Statera (wSTA)

Residual Income:

Join Crypto.com

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PVMihalache Amazon Books

DeFi bounty at CakeDeFi with $30 DFI for new users

The fountains: PipeFlare ZCashGlobalHive ZCash & Get.ZEN

Publishing bundle: Publish0x,  readcashnoisecashLBRY & Presearch

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