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Developed in 2020, Beefy Finance is a yield optimisation platform that aims to optimise yield farming and liquidity provision strategies in the decentralised finance (DeFi) ecosystem. The DeFi sector has exploded in popularity recently and, as a result, opportunities to earn an annual yield (interest) on cryptocurrency assets have increased. Beefy Finance is a DeFi service that removes the stress of this process and allows users to compound interest on their tokens through automated yield farming. According to Beefy Finance’s documentation, the network is multi-chain compatible, which means it is not limited to one blockchain network. This allows for a vast number of yield optimisation strategies across blockchains like Ethereum, Binance and Polygon. Beefy Finance’s system is unique relative to other players in the field due to the “vault” system. Vaults automatically determine the best yield from DeFi platforms across multiple networks and can perform a number of automatic functions. This removes a lot of decision-making for yield farmers. BIFI is the token native to the Beefy Finance platform. Token holders can vote on platform development proposals and stake tokens on the platform to earn additional interest.
Beefy.Finance (BIFI) is the 449th largest cryptocurrency in the world by market cap, valued at $45,700,196. The current price of Beefy.Finance is $820.918, which is -6.301% lower than yesterday. Prices have ranged between $877.17 and $806.54 over the past 24 hours. All prices are listed in Australian dollars (unless otherwise noted) and accurate as of May 27, 2022 04:05 UTC.
| Coin symbol | BIFI |
|---|---|
| Coin Marketcap | AUD$45,700,196 |
| Total BIFI supply | 80,000 |
| Circulating BIFI | 78,000 |
| Current price | AUD$820.918 |
| All time high | AUD$7.84 |
| All time high date | March 16, 2021 |
Historical prices compared with the price of $820.918.
| 1 hour | -0.51% |
|---|---|
| 24 hours | -6.30% |
| 7 days | -12.33% |
| 14 days | 45.33% |
| 30 days | -56.13% |
|---|---|
| 60 days | -60.02% |
| 200 days | -59.46% |
| 1 year | -37.06% |
Disclaimer: Cryptocurrencies, including Beefy.Finance, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BIFI is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Beefy.Finance or any other cryptocurrency discussed.
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