Beefy Finance (BIFI) is a decentralized, multichain yield optimizer that enables users to earn compound interest through staking. Beefy Finance runs across multiple blockchains, including BNB Chain, Ethereum, Arbitrum, and Polygon, to maximize yield farming and staking opportunities.
Beefy Finance is a unique DEX; its automated yield farming strategy utilizes smart contracts to enable users to earn the highest possible returns on their investments. $BIFI is the native token for Beefy Finance. The token enables holders to participate in governance and incentive programs.
Users receive interest-bearing tokens called "mooTokens" by depositing assets into vaults, which represent their share of the vault plus interest accrued. These vaults employ various automated strategies to provide yield on user deposits.
By compounding yield farm reward tokens back into your originally deposited asset, the investment strategy tied to the vault will automatically increase your deposited token amount.
In addition to yield farming, Beefy Finance also offers staking services. Users can stake their Beefy tokens and earn rewards in the form of additional tokens.