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Beefy.Finance is a liquidity mining optimizer on Binance Smart Chain that automates investment strategies using liquidity pools. The platform helps investors interact with various liquidity mining opportunities without having to constantly review and manually execute their investment strategies. The platform is constantly exploring new ways to optimize strategies to ensure maximum returns.
BIFI is the BEP-20 native governance token of the platform, and has the following use cases:
Governance: By holding BIFI, whether it is mortgaged in the governance pool or in the BIFI Maxi vault, users have the right to create proposals and vote. Users do not need to withdraw staked tokens to participate in voting.
Staking: A portion of the fees paid by users of the Beefy.Finance Yield Pool is allocated to staked BIFI token holders in the governance pool and BIFI Maxi Vault. Rewards are paid in the form of wBNB and BIFI respectively.
The agreement includes the following main components:
Vaults: Vaults is an investment tool that adopts a set of specific strategies to mine income. Vaults facilitate high levels of compounding through automatic investment and reinvestment.
Strategies: Vaults Strategies are modular smart contracts that tell Vaults which assets to mine and where to sell them. Rewards are collected periodically, converted into raw assets, and deposited again for compound mining.
Barn of Trust: Barn of Trust provides users with the opportunity to receive rewards in multiple dApp projects by staking TWT or BIFI in Vaults.