Beefy.Finance (BIFI)What's Beefy.Finance price? How much potential does it have? How to buy Beefy.Finance? And where can you buy it? Find answers to all of those as well as to many others questions related to it and discover cryptos in the same category. And see how BIFI compares to Bitcoin based on its performance!
(Price data last updated about 5 hours ago)
Data last updated about 5 hours agoBIFI All Time Low/High: €2.79 (+15994%) / €3453.32 (-87%)
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Compare BIFI and BTC performance
How popular is Beefy.Finance cryptocurrency?Beefy.Finance ranks 522th among all cryptocurrencies. It has a market cap of €35916920. The total trading volume within the last 24 hours was €512244.
How much potential does it have?How much can Beefy.Finance grow? It's hard to say how much potential this cryptocurrency has exactly, but based on its circulating supply (80,000), it can theoretically grow at least 13799x before it would become more popular than Bitcoin. This means that based on BIFI maximum potential it could reach €6195950 before it would have to overtake Bitcoin.
How to buy Beefy.Finance?The easiest way to buy BIFI is to use a cryptocurrency exchange. There are a lot of exchanges out there these days - both centralized and decentralized. And you can find this cryptocurrency in a number of exchanges these days. Currently there should be the very minimum of 33 Beefy.Finance exchanges available.
Where can you buy it?BIFI should be listed in these exchanges:
Where can I find more information about Beefy.Finance?You can find more information about it through the crypto homepage and social media pages brought out on top of this page. And we always recommend you to do further research about the crypto yourself as well.
What is Beefy.Finance?$BIFI tokens are ‘dividend-eligible’ revenue shares in Beefy Finance, through which holders earn profits generated by Beefy Finance and are entitled to vote on important platform decisions.
Beefy Finance is a Decentralized Finance (DeFi) Yield Optimizer platform that allows its users to earn compound interest on their holdings.
DeFi applications are unique in the sense that they are permissionless and trustless, meaning that anyone with a supported wallet can interact with them without the need for a trusted middleman.
Through a set of investment strategies secured and enforced by smart contracts, Beefy Finance automatically maximizes the user rewards from various liquidity pools (LPs), automated market making (AMM) projects, and other yield farming opportunities in the DeFi ecosystem.
For all the vaults deployed on every blockchain, Beefy Finance has its native governance token $BIFI at its core. Platform revenue is generated from a small percentage of all the vault profits and distributed back to those who stake $BIFI.
Beefy Finance is a supported partner of Binance’s official decentralized wallet, Trust Wallet, and audited by Certik to guarantee the robustness of deployed smart contracts. Certik has already provided audits for such projects as Ocean Protocol, NEO, Ontology, and Waves.
The supply of $BIFI is limited at 80,000 tokens and available on the top decentralized exchanges such as Binance, 1inchexchange and PancakeSwap.
What is $BIFI?
$BIFI is the native governance token of Beefy Finance. $BIFI Tokens can be staked on the Beefy platform to gain rewards and interest. A portion of the fees paid by anyone using Beefy’s yield optimization vaults are distributed to holders of $BIFI staked on the platform. Token holders also have a right to create and vote on proposals to the platform as part of its governance system. They can vote without un-staking their tokens.
What makes Beefy Finance unique?
There are lots of farms to choose from across several blockchains. Beefy automates and optimizes different investment strategies, allowing token holders to benefit from the upside of complex farming protocols. Users can request new vaults directly from Beefy’s developers and the time it takes to answer these requests is very low.
What are yield farming and yield optimization?
Yield farming is simply a way to make some interest with crypto holdings. A yield optimizer is an automated service that seeks to gain the maximum possible return on crypto-investments made through DeFi platforms. They work much more efficiently than attempting to maximize yield through manual means. Each yield optimization method on Beefy Finance has its own unique strategy for farming, which normally involves the reinvestment of crypto assets staked in liquidity pools. At the most simple level, it farms the rewards given from staked assets and reinvests them back into the liquidity pool for the user.
What are Beefy vaults?
Vaults are investment instruments that employ an optimized set of strategies for yield farming. They make use of automation to continually invest and reinvest deposited funds, which help to achieve high levels of compounded interest. Vaults are the core of the Beefy Finance ecosystem. In a Beefy vault, you earn more of the asset you stake, regardless of whether it’s a liquidity pool (LP) token or a single asset.
Despite what the name 'vault' suggests, user funds are never locked on Beefy.Finance. Users can withdraw from a vault at any moment in time and Beefy does not own the funds staked in its vaults.
What fees are incurred from using Beefy Finance?
The performance fees are already built into the displayed APY of each vault and daily rate. Most vaults available on Beefy Finance take 4.5% of harvest rewards.
The performance fee on users vault profits is largely distributed back to $BIFI stakers and is the main source of Beefy Finance's platform revenue: 3% is distributed back to $BIFI stakers, 0.5% is allocated to treasury, 0.5% to the strategist that developed the vault and 0.5% for the one calling the harvest function.
Each vault has either a deposit or withdrawal fee of 0.1% or less, which is there to protect bad actors from abusing the vaults. This is shared with all other stakers in that specific vault. Users should also consider network transaction fees when adding or removing funds. These fees do not go to Beefy, but to the operators keeping the blockchain network up and running.
|Market Cap: €35916920||Rank: #522||Volume: €512244|
Beefy.Finance (BIFI) live price chart
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How big was Beefy.Finance coin volume within the last 24h?
Beefy.Finance (BIFI) last recorded volume was € 512244.
How much has Beefy.Finance price changed during one year?
BIFI price has changed during the last year -64.04 %.
Is BIFI coin close to its All Time High price?
BIFI all time high price (ath) is €3453.32. Its current price is €449.01. This means that the difference between Beefy.Finance (BIFI) All Time High price and BIFI current price is -87%.
What is the maximum price Beefy.Finance (BIFI) could VERY theoretically reach?
BIFI has a current circulating supply of 80,000. Based on our calculation BIFI could reach up to €6195950 before it would have to overtake Bitcoin. So in theory the potential for growth is 13799x its current value (€449.01). However, keep in mind that the coin's actual potential is based on the value it provides to the user. So this is just a logical maximum potential price calculation for Beefy.Finance and in no way is it a prediction of any kind, far from it.
Where can you buy Beefy.Finance?
Beefy.Finance is currently listed on at least these crypto exchanges: Binance, Velodrome Finance, Hotbit, Crypto.com Exchange, PancakeSwap (v2), BingX, Sushiswap (Polygon POS), CoinEx, VVS Finance, Trader Joe, ComethSwap, Beethoven X, Quickswap, Nominex, TokoCrypto, Equalizer, SpookySwap, SwapFish, Mdex BSC, Julswap, ApeSwap, Solidly and possibly some others.