Beefy

BUSD

Yield

Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/what-is-beefy-finance-coin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">What is Beefy Finance Coin?</a><br></p>
<p style="text-align: justify">Launched in 2020, Beefy.Finance (BIFI) is a yield optimization tool on the <a href="https://en.coin-turk.com/binance-announces-these-2-altcoins-as-the-36th-and-37th-projects/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> Smart Chain, aiding in maximizing returns in yield farming. Yield farming is the practice of staking or lending your crypto assets in a liquidity pool based on a smart contract to earn yields or rewards.</p>
<p style="text-align: justify">A lender known as a liquidity provider is part of this system, and the fund where <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">money</a> is held is called a liquidity pool. Yield farming protocols incentivize liquidity providers (LPs) to lock their crypto assets in the liquidity pool.</p>
<h2 style="text-align: justify" id="what-is-beefy-finance-bifi">What is Beefy Finance (BIFI)?</h2>
<p style="text-align: justify">Beefy.Finance optimizes yields through a vault system. These vaults serve as investment tools and can implement strategies through the use of smart contracts.</p>
<p style="text-align: justify">The vaults can automate the best yield farming opportunities and use crypto assets as liquidity, offer assets as collateral, manage collateral, reduce liquidation chances, and utilize assets to generate a return and compound profit. This combination of features allows users to automate DeFi farming and optimize their returns. There are vault updates that eliminate the need for decision-making in independent yield farming.</p>
<p style="text-align: justify">Beefy.Finance does not have a deposit fee. However, there is a withdrawal fee of 0.01% of the withdrawal amount.</p>
<p style="text-align: justify">The performance fee on additional yield varies and is determined for each specific vault. Additionally, there is a fee of 0.55% per harvest. Beefy.Finance supports many popular wallets including Metamask, WalletConnect, TrustWallet, and others.</p>
<p style="text-align: justify">Beefy.Finance utilizes its own governance token, BIFI, which allows users to receive a portion of the vault’s performance fees. BIFI holders can stake their tokens in a governance pool. Subsequently, WBNB is distributed daily to stakers based on their percentage in the pool. Users do not need to withdraw their tokens to participate in voting.</p>
<p style="text-align: justify">Additionally, the core team consists of anonymous developers known as @superbeefyboy, @sirbeefalot_bnb, @roastyb1, and @0xbeefy. Others contribute to the community by writing and testing strategies, monitoring statistics, creating marketing materials, and developing new ventures.</p>
<h2 style="text-align: justify" id="how-to-buy-beefy-finance-coin">How to Buy Beefy Finance Coin?</h2>
<p style="text-align: justify">BIFI Coin can be purchased quickly and securely through <a href="https://accounts.binance.com/en/register?ref=M8RGDITW" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Binance</a>, the world’s largest cryptocurrency trading platform in terms of trading volume.</p>
<p style="text-align: justify">To buy BIFI Coin, one must first register on Binance and then send fiat currency. Following the transfer of a fiat currency such as or US Dollar, a purchase can be made in the BIFI trading pair with BUSD and Binance Coin (BNB).</p>
<p style="text-align: justify">In addition, on <a href="https://accounts.binance.com/en/register?ref=M8RGDITW" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Binance</a>, users can place a purchase order not only at the market price but also at a lower price. To do this, use the Limit tab and enter the amount and price you want to buy.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/what-is-beefy-finance-coin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">What is Beefy Finance Coin?</a></h5>

What is Beefy Finance Coin?

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