Introducing Beefy.Finance: Yield Optimizer On Binance Smart Chain
Beef Up Those Yields
We’re a team of developers that want to nourish the long term defi ecosystem and make it easier for everyone to participate within it. The yield optimization projects created by yearn.finance, Andre Cronje and the YFI community have quickly inspired many others. This is an excellent development that is helping to grow and secure the Ethereum ecosystem. However, in recognizing the fundamental properties of other chains, opportunities for significantly different approaches are apparent.
How to Optimize Yield On A Fast Chain 🎯
Yield optimizers on Binance Smart Chain present a different set of problems, challenges and opportunities. While on Ethereum, where gas fees are high, it makes sense to focus on gas savings, and pooling funds to deploy strategies. Working on the Binance Smart Chain, where the fees are far smaller, the focus moves to optimizing automation to secure the greatest yields with less concern for the amount of interactions necessary to constantly improve a moving APY. The doors open up to more complex strategies and frequent rebalances.
With this automatization, we can provide a simple way for investors to interact with pools, projects, and other yield opportunities without having to constantly make decisions and take manual actions. We see this as a necessary step to leveling the playing field, allowing small investors to have access to the same opportunities that so far only whales and full-time yield-farmers have had access to.
Building within Binance Smart Chain’s open ecosystem, with its connection to the Binance infrastructure, removes far more constraints than just high fees. Our goal is to lead a phase of open experimentation that will bring yummy stakes to your table.
Our long term goal is to help projects in BSC grow together, providing help with auditing, creating hackathons for interesting strategies to add to the platform, etc. All of this will be coordinated by the community, and the holders of the governance token $BIFI.
Governance Token Distribution 🏛️
Beefy Finance will be governed by its own governance token: $BIFI. We want to get this token into the hands of people that will contribute to the growth of the project.
- Total $BIFI supply will be 80.000.
- There is no pre-mine. For transparency, the contracts will be released this week before the first pool launch for any party to independently audit.
- $BIFI is bootstrapped and it has no investors or VCs.
- 90% of the supply will be distributed to the community in the first 2 months through staking pools.
- 10% of the supply will be vested to the Team. The vesting will have a 2 year schedule and 4 distribution events. Starting 2 weeks after the first pool launches and then 3, 9 and 21months after the first fund release.
- $BIFI staking and farming will be live Tuesday, September 22nd, at 4pm GMT.
Your grill masters! You can find us on Telegram, Discord and Twitter. Only the following accounts represent the team, unless there’s further updates from new people joining the grill.
We are hoping to grow a thriving community to help build and govern the project. Come say hi!