What is beefy finance?

Launched on the Binance Smart Chain (BSC) in September 2020, Beefy Finance is a multi-chain decentralized yield optimizer. Its purpose is to automate liquidity pool-based investment strategies. The fast growth of the DeFi market makes it challenging to identify the most lucrative opportunities.

Is beefy finance a good alternative to Binance?

As a lucrative alternative, Beefy Finance runs on Binance Smart Chain and with a lower transaction fee. This opens up doors for much more involved strategies that can rebalance frequently and use an increased number of transactions to maximize APY’s (more on APY later). How a Yield is Optimised with Beefy Finance?

Which is better yearn finance or Beefy finance?

But, Yearn Finance operates on the Ethereum Network whose transaction cost ( Ethereum GAS fees) has skyrocketed in the recent past. As a lucrative alternative, Beefy Finance runs on Binance Smart Chain and with a lower transaction fee.

How does beefy finance optimize yields?

Beefy Finance optimizes yields through a vault system; vaults serve as investment instruments, which implement strategies through smart contracts. These vaults automate the best yield farming opportunities for you. I know it may be a lot for a newbie to digest, but once you start interacting with these DApps, you would start understanding better.