What is Beefy Finance (BIFI)? Details About BIFI Token

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2021-07-23 07:05:50

If you have ever remembered the fever of Yearn Finance (YFI) and its potential, don’t miss the opportunity with Beefy Finance.

Since the DeFi money flowed to the Binance Smart Chain system, Beefy Finance has experienced tremendous growth and is listed on the exchange. Posts about Beefy Finance and BIFI tokens Today will give you all information about:

  • What is Beefy Finance? Highlights of Beefy Finance.
  • The tokenomics information of BIFI Token includes: Key metrics, token distribution (token allocation), application of the token (token use case),…
  • Where to buy BIFI tokens? Store on which wallet?
  • Beefy Finance’s development roadmap and latest updates.
  • Information about the project’s partners and development team.
  • Some similar projects in the same field so that you can see the development potential of Beefy Finance.

What is Beefy Finance?

Beefy Finance is a Yield Optimizer platform that allows you to Stake or Farming with the most optimal profit, by using an algorithm to compare the interest rates of Vaults in different Liquidity Pools (liquidity pools) of exchanges. Decentralized translation according to AMM mechanism.

When Farming in Yield Aggregators, users not only receive interest from the main Liquidity Pools, but also receive Incentive from Yield Aggregators, more specifically their native tokens (Farming on Beefy Finance receives BIFI).

Highlights of Beefy Finance

The most outstanding feature of Beefy Finance is the implementation Multichain, Beefy Finance has launched on 5 chains and cooperated with many Liquidity Pools such as:

  • Binance Smart Chain: Pancakeswap, Apeswap, Bakeryswap, Venus, Ellipsis,…
  • Avalanche: Pangolin, Snowball, Lydia, Gondola, Oliveswap, Compplus,…
  • HECO Chain: MDEX, Lavaswap, Lendhub, HFI,…
  • Polygon: Quickswap, Aave, Polywhale, Cometh, Adamant…
  • Fantom: Spookyswap, Froyo, Ester,…

As can be seen, Beefy Finance is one of the best Yield Optimizer Platforms, with a variety of products that allow users to farm with many different chains on just one platform.

Detailed information about BIFI Token

Key Metrics BIFI

  • Token Name: Beefy Finance.
  • Ticker: BIFI.
  • Blockchain: Binance Smart Chain.
  • Token Standard: BEP-20.
  • Contract: 0xCa3F508B8e4Dd382eE878A314789373D80A5190A
  • Token Type: Utility & Governance.
  • Total Supply: 80,000 BIFI.
  • Circulating Supply: 72,000 BIFI.

BIFI Token Allocation

Distributing BIFI tokens.

A total of 80,000 BIFI will be distributed as follows:

  • Pool 1 ($LINK): 17.5% – 14,000 BIFI.
  • Pool 2 ($CREAM): 17.5% – 14,000 BIFI.
  • Pool 3 ($wBNB): 17.5% – 14,000 BIFI.
  • Pool 4 ($ETH): 17.5% – 14,000 BIFI.
  • Pool 5 ($BNB-$BUSD): 10% – 8,000 BIFI.
  • Pool 6 ($BNB-$Sparta): 10% – 8,000 BIFI.
  • Team: 10% – 8,000 BIFI.

BIFI Token Sale

BIFI tokens will not be open for pre-sale or Airdrop to any member first except Team tokens.

The remaining tokens (72,000 BIFI) will be distributed through Farming on the Beefy Finance platform.

Token Release Schedule

Community tokens (Pool 1-6) with a total of 72,000 BIFI will be distributed within 2 months.

Team tokens will be distributed within 2 years and divided equally into 4 installments.

  • Phase 1: 2 weeks after pool launch.
  • Phase 2: 3 months after pool launch.
  • Phase 3: 9 months after pool launch.
  • Phase 4: 21 months after pool launch.

BIFI Token Use Case

BIFI is the native token of Beefy Finance and will be applied as follows:

  • Propose and vote on important system changes.
  • BIFI holder will receive a part of revenue from Beefy system.

How to earn and own BIFI Token

You can own BIFI by buying through exchanges. BIFI has been listed on Binance, PancakeSwap and 1Inch Exchange or join Farming on Beefy Finance to receive BIFI tokens.

BIFI rate todayIFI

In addition, you can also see the BIFI price on CHK Wallet Follow the instructions below:

Instructions to see the price of BIFI Token on CHK Wallet.

BIFI Token storage wallet

BIFI token is BEP20 token, you can store BIFI token on CHK Wallet with the following simple steps.

Instructions for storing BIFI Token on CHK Wallet.
  • Step 1: At the main interface, select Receive (Receive).
  • Step 2: Import BIFI in the search box.
  • Step 3: Copy BIFI wallet address and send BIFI token to this address.

How to buy and sell BIFI Token on CHK Wallet

You can trade BIFI tokens directly on CHK Mobile Wallet with PancakeSwap:

Instructions for buying and selling BIFI Token on CHK Wallet.

Step 1: At the main screen of CHK Wallet, you choose SWAP.

Step 2: Select PancakeSwap.

Step 3: Select the token to trade and fill in the necessary parameters for the transaction.

  • Select tokens from the list. With tokens that are new and not yet displayed on CHK Wallet, you can paste the contract and trade as usual.
  • Beefy Finance contract: 0xCa3F508B8e4Dd382eE878A314789373D80A5190A
  • Enter the number of tokens you want to swap.

Step 4: Adjust gas fee and inflation (slippage) according to demand.

Step 5: Browse transactions (approve) and complete the transaction.

Roadmaps & Updates

Updating…

Project team, investors, partners

Project team

Beefy Finance does not specifically announce the project team. However, I found it on Twitter, there are two accounts of Beefy Finance Dev: “@superbeefyboy” and “@sirbeefalot_bnb”.

Investors

Updating…

Partner

Currently, Beefy Finance has many partners, mainly AMM DEXs – where there are Liquidity Pools that Beefy Finance is integrating on its platform. You can see the details above.

In addition, Beefy Finance combined with wallet Trust Wallet – one of the wallets with a large number of users to enhance the recognition of Beefy Finance to the community.

Similar projects

About projects in the field of Yield Aggregator, you can learn more about Acryptos, AutoFarm, Value DeFi, Pancake Bunny,…

Official Website: Beefy Finance

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