Beefy’s Spooky Partnership
Our multichain journey continues with our first partner on Fantom
In order to let as many people know about the benefits of autocompounding their assets with Beefy, we have begun building partnerships across several chains.
After blasting past $150M TVL on Polygon last week, we’ve set our sights on hitting the same milestone with Fantom.
Our inaugural partnership on the chain is with SpookySwap, the first native farm and exchange on Fantom.
We already have 17 SpookySwap vaults on fantom.beefy.finance, attracting more than $6.5M Spooky TVL before we even had a chance to announce we are working together.
Now it’s official
In return for the Beefy devs working some serious overtime to launch all of those SpookySwap Vaults, the team at Spooky added a BIFI-FTM pair with a generous 0.7x $BOO reward multiplier.
Auto-compounding has been a highly requested feature based on community feedback and Beefy makes it easy for anyone to auto-compound their farms automatically. With this collaboration, we look forward to introducing the magic of both BSC and Fantom Opera to everyone.
SpookySwap saw a large influx of liquidity as a result of our BIFI-FTM farm and we look forward to the BIFI BOOST. Overall, we could not be more thrilled to be working with one of the biggest vault providers on BSC and to bring new capabilities to Fantom Opera.
— Eerie Eight, SpookySwap
After we vaulted Spooky’s BIFI-FTM farm on fantom.beefy.finance the auto-compounding LP pair is already hovering around 225% APY. You can also join this pair using the one-click invest feature, Beefy’s ZAP, which we released for SpookySwap last week.
But it gets better.
The Beefy DAO voted to commit $10,000 of $BIFI to boost that vault, and it’s been live for about an hour. You can now earn additional single asset $mooBIFI tokens if you stake your receipt tokens on our Launchpool. mooBIFI is pre-staked BIFI, which means it is already in our Fantom BIFI Maxi vault earning you a share of the Beefy platform revenue.
BIFI is a non-inflationary fully distributed token that gives you a share in the money made by the platform itself. Currently you can earn around 27% APY by staking in the Maxi vault. With mooBIFI, your BIFI is already staked for you, so if you join the Boost today you’re already earning your share as soon as you get the mooBIFI boost in your wallet.
How do I get started?
BSC users were already able to bridge BNB directly to Fantom Opera, thanks to Anyswap. But now, they can bridge BIFI tokens as well and immediately start farming on SpookySwap or in the Vault at Beefy. For information on how to bridge your BIFI see this guide from Spooky.
What’s next?
Beefy is the multichain yield optimizer that lets you autocompound your crypto across many different chains. Each chain has its own community to engage and educate about the benefits of staking your assets with Beefy.
Fantom is no different and we are very grateful to SpookySwap and the Fantom Foundation for the introductions they have already made for us in the space.
We will be connecting with the best wallets, the best AMMS and lending platforms and of course with the community of users buzzing around the most trusted platforms on the chain.
Boo! We’re only getting started.
