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Beefy Finance

BIFI

Price
$352.28
11/29/2022, 9:40:56 PM
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Market

Market stats

Market cap

$25.4M

Volume (24h)

$2.0M

Circulating supply

72.0K BIFI

All time high

$7.2B

Price change (1h)

-0.06%

Price change (24h)

+2.84%

Price change (7d)

+5.27%

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Beefy Finance is on the rise this week.

The price of Beefy Finance has risen by 5.27% in the past 7 days. The price increased by 2.84% in the last 24 hours. In just the past hour, the price shrunk by 0.06%. The current price is $352.275837 per BIFI. Beefy Finance is 100.00% below the all time high of $7,220,479,437.52.

The current circulating supply is 72,000 BIFI.

About

What Is Beefy Finance (BIFI)?

Beefy Finance is a decentralized, multichain yield optimizer. A yield optimizer is an automated process that aims to earn the maximum possible return compared to manual means. Beefy Finance claims to operate on more than one blockchain.

Beefy Finance seeks to gain the maximum yield with efficiency and safety in mind. Annual percentage yield (APY) helps to give its users an accurate idea of returns. Beefy Finance is enforced by smart contracts and a set of investment strategies that automatically maximizes user rewards through automated market-making (AMM) projects,‌ ‌liquidity pools (LPs), and‌ ‌other yield‌-farming ‌opportunities in the DeFi ecosystem.

The long-term goal of Beefy Finance is to help projects grow together with DeFI, help with auditing, create hackathons for interesting strategies to add to the platform, etc. Beefy Finance's main product is the “Vaults,” wherein users can stake their crypto tokens. Vaults are investment instruments that are set for making strategies for yield farming. The first vault was launched on Binance Smart Chain on October 8, 2020, making Beefy Finance the first yield optimizer on BSC. Later, Beefy Finance expanded to many more blockchains.

An investment strategy is tied to each vault that automatically boosts the user’s token amount by compounding random yield-farm reward tokens back into the initial asset. These funds are not locked; users can access or withdraw them. MooToken is a tokenized proof with a yield that users can receive when placing BIFI into the BIFI Maxi vault. BIFI Maxi Vault enables its users to stake their BIFI and compounds their share of the protocol’s revenue into more BIFI tokens.

Furthermore, for all the vaults deployed on every blockchain, the native governance token of Beefy Finance, BIFI, is at its core. BIFI is a governance token and is “dividend-eligible” in Beefy Finance. Holders can earn profit generated by Beefy Finance by the mode of BIFI and are entitled to vote on platform decisions.

Also, the revenue generated at the platform is distributed back to those who stake BIFI. As per the revenue share mechanics, users can stake BIFI to earn more BIFI in a BIFI Maxi vault, or earn other currencies such as MOVR, ETH, BNB, FTM, MATIC, AVAX, HT, and METIS  in the native staking pools. Beefy Finance was launched on September 21, 2020.

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FAQ

What is the current price of Beefy Finance?

The price of 1 Beefy Finance currently costs $352.28.

What is the market cap of Beefy Finance?

The current market cap of Beefy Finance is $25.44M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Beefy Finance?

The all-time high of Beefy Finance is $7,220,479,437.52. This all-time high is highest price paid for Beefy Finance since it was launched.

What is the 24 hour trading volume of Beefy Finance?

Over the last 24 hours, the trading volume of Beefy Finance is $2.02M.

What other assets are similar to Beefy Finance?

Assets that have a similar market cap to Beefy Finance include Phoenix Global (new), Moss Coin, LeverFi, and many others. To see a full list, see our comparable market cap assets.

How many Beefy Finance are there?

The current circulating supply of Beefy Finance is 72 thousand.