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What is beefy & how does it work?

What is Beefy? Beefy is a Decentralized, Multichain Yield Optimizer that allows its users to earn compound interest on their crypto holdings. Beefy earns you the highest APYs with safety and efficiency in mind.

What is beefy finance & BiFi?

Beefy finance builds upon the yearn finance protocol, but with a few key differences. Beefy Finance or BIFI, is built and deployed on the Binance Smart Chain (BSC). As BIFI uses the BSC, the fees to use their vaults are tiny… like, less than $0.10 Beefy automatically compounds your daily interest! Reinvesting the interest.

Is Beefy a defiyield company?

Beefy was initially involved with Binance. It started out on the Binance Smart Chain network. However, the website insists that this does not affect it from embracing other networks that contribute to its growth. The platform DefiYield audited Beefy Finance at the tail-end of Dec. 2021.

How does beefy finance differ from other Defi platforms?

Beefy Finance distinguishes itself from similar DeFi platforms by supporting numerous different blockchains. Some of these include Binance Smart Chain, Fantom, Avalanche, and Polygon. Choose the wallet that you wish to connect. In our example, we are using the MetaMask wallet, arguably the most popular crypto wallet at this time.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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