The very best DEFI tool you can use every day
I love Beefy.finance - It makes your life simpler, your yields higher and you can access multiple chains from just one app alone. OH AND STAKING is awesome!
If you want to watch a video explaining everything watch it here
What major problems does Beffy.finance solve for us?
Imagine you want to stake your ethereum and Bitcoin on arbitrum ( balancer ) and then on BNB on pancake swap and on another of the 16 chains and dapps beefy supports. You can either access each of these dapps individually or you can just use beefy.finance and they will stake and invest your crypto for you. Please keep in mind that they do not have every single LP in their arsenal and also not every single dapp. But they have A LOT!!!
Usually in DEFI you receive yields in form of the dapps token. For example on pancake swap you will LP Eth/BTC but receive CAKE as your reward. Usually those “farm” tokens loose value very quickly because they are highly inflationary. Beefy will gather those tokens for you several times a day and buy more ETH/BTC for you. That way you always increase your ETH/BTC and never get exposed to the “farm” token directly.
Imagine you want to move funds from one chain to another. You can either use external dapps and use a new one each time you want to use a new blockchain, or you can simply buy bifi tokens and then within the beefy dapp move it to the chain you want to use. And of course if you then want to sell it for a different token, you can.
Since it gathers your rewards and reinvests them for you directly, it increases your apy. That way you earn way more money!
The reason I love beefy so much and use it all the time is that it simplifies my investments. I don’t have to worry much about a new chain or investments at all.
Staking beefy has been a great experience also. The bifi token is capped at 80.000 and beefy.finance will pay out their earnings daily to all staked token and you can unstake any moment you want.
Beefy keeps things very simple.
Now let’s give you a very simple example of how you would use beefy to invest your ETH and BTC:
connect your metamask wallet to beefy.finance on the top right
Click on the blockchain you want to use. In this example I will choose Polygon
Choose the pool you want to use. For this example we will use ETH/Matic, but it works the exact same for any pool you want to use.
Since I only have ETH in this example, I click on deposit ETH on the right hand side and deposit all my ethereum
Now beefy will convert half of my ethereum to matic and keep the other half in ethereum. Now I click on deposit and confirm on my metamask and that’s it. There is really nothing else you have to do.
Lastly whenever you want to cash out, you click on withdraw and the best part is that you can choose in which way you want your crypto back. All in matic? All in ethereum? A mix? Beefy will automatically do that for you. It is really simple.
Got any more questions? Message me on twitter .
Now, try it for your self. Start small. Even a few bucks just to try it out and see for yourself how simple this is. You will fall in love with it I promise and you will never want to use anything else.
