Beefy Finance profile
Beefy Finance Profile (BIFI)
Score: 5.57 | Above Average
Adventurous Micro Cap
Project Safety Score

Thu, Dec 2, 2021 4:04 PM

Score 5.57
Rating Above Average
Market Cap $106455313.33626
24hr Volume $7473830.6244318
Price $1478.5460185592
Review

Beefy Finance

token

Binance Smart Chain

$BIFI tokens are ‘dividend-eligible’ revenue shares in Beefy Finance, through which holders earn profits generated by Beefy Finance and are entitled to vote on important platform decisions. Beefy Finance is a Decentralized Finance (DeFi) Yield Optimizer platform that allows its users to earn compound interest on their holdings. DeFi applications are unique in the sense that they are permissionless and trustless, meaning that anyone with a supported wallet can interact with them without the need for a trusted middleman. Through a set of investment strategies secured and enforced by smart contracts, Beefy Finance automatically maximizes the user rewards from various liquidity pools (LPs),‌ ‌automated market making (AMM) projects,‌ ‌and‌ ‌other yield‌ farming ‌opportunities in the DeFi ecosystem. For all the vaults deployed on every blockchain, Beefy Finance has its native governance token $BIFI at its core. Platform revenue is generated from a small percentage of all the vault profits and distributed back to those who stake $BIFI. Beefy Finance is a supported partner of Binance’s official decentralized wallet, Trust Wallet, and audited by Certik to guarantee the robustness of deployed smart contracts. Certik has already provided audits for such projects as Ocean Protocol, NEO, Ontology, and Waves. The supply of $BIFI is limited at 80,000 tokens and available on the top decentralized exchanges such as Binance, 1inchexchange and PancakeSwap. What is $BIFI? $BIFI is the native governance token of Beefy Finance. $BIFI Tokens can be staked on the Beefy platform to gain rewards and interest. A portion of the fees paid by anyone using Beefy’s yield optimization vaults are distributed to holders of $BIFI staked on the platform. Token holders also have a right to create and vote on proposals to the platform as part of its governance system. They can vote without un-staking their tokens. What makes Beefy Finance unique? There are lots of farms to choose from across several blockchains. Beefy automates and optimizes different investment strategies, allowing token holders to benefit from the upside of complex farming protocols. Users can request new vaults directly from Beefy’s developers and the time it takes to answer these requests is very low. What are yield farming and yield optimization? Yield farming is simply a way to make some interest with crypto holdings. A yield optimizer is an automated service that seeks to gain the maximum possible return on crypto-investments made through DeFi platforms. They work much more efficiently than attempting to maximize yield through manual means. Each yield optimization method on Beefy Finance has its own unique strategy for farming, which normally involves the reinvestment of crypto assets staked in liquidity pools. At the most simple level, it farms the rewards given from staked assets and reinvests them back into the liquidity pool for the user. What are Beefy vaults? Vaults are investment instruments that employ an optimized set of strategies for yield farming. They make use of automation to continually invest and reinvest deposited funds, which help to achieve high levels of compounded interest. Vaults are the core of the Beefy Finance ecosystem. In a Beefy vault, you earn more of the asset you stake, regardless of whether it’s a liquidity pool (LP) token or a single asset. Despite what the name 'vault' suggests, user funds are never locked on Beefy.Finance. Users can withdraw from a vault at any moment in time and Beefy does not own the funds staked in its vaults. What fees are incurred from using Beefy Finance? The performance fees are already built into the displayed APY of each vault and daily rate. Most vaults available on Beefy Finance take 4.5% of harvest rewards. The performance fee on users vault profits is largely distributed back to $BIFI stakers and is the main source of Beefy Finance's platform revenue: 3% is distributed back to $BIFI stakers, 0.5% is allocated to treasury, 0.5% to the strategist that developed the vault and 0.5% for the one calling the harvest function. Each vault has either a deposit or withdrawal fee of 0.1% or less, which is there to protect bad actors from abusing the vaults. This is shared with all other stakers in that specific vault. Users should also consider network transaction fees when adding or removing funds. These fees do not go to Beefy, but to the operators keeping the blockchain network up and running.

Read more in the whitepaper:

Beefy Finance Smart contracts and audits.

Below are the available smart contract addresses and any associated contract audits.

BNB: 0xCa3F508B8e4Dd382eE878A314789373D80A5190A


Ecosystems.

Beefy Finance is a part of the following ecosystems.

Beefy Finance Project Statement

Project statements are provided by senior members of the project team and serve to tell the reader why the project has honorable intentions and why is definitely not a scam.

Please get in touch to submit a project statement for this project. Emails must be sent from official domain email addresses and will be verified before being accepted.

Full Report

Beefy Finance Safety Report

Beefy Finance has a safety score of 5.57

Beefy Finance is a micro cap token.

Beefy Finance is suited to a adventurous investment style.


Beefy Finance Profile

This profile is missing some data needed to perform a thorough analysis. Depending on what data is missing then this could have a negative impact on the overall rating.

Missing Data:
  • project whitepaper
  • project team
  • bitcointalk thread
  • tradingview profile
  • exchanges

Beefy Finance Red Flags

There are currently no Beefy Finance red flags.


Beefy Finance Development Score

The Beefy Finance project has 25 active source code repositories.

The most recent commit was Thu, Dec 2, 2021 3:13 PM

  • 63 Watchers
  • 222 Stars
  • 149 Mentionable Users
  • 0 Vulnerabilities
  • 425 commits in the last 28 days.
Highlights:
  • extremely high repo stars
  • daily repo updates
  • very low stars
  • very poor watchers
  • poor mentionable users

Beefy Finance Sentiment Score

The sentiment score indicates how well the wider community regards the project. We analyse social media platforms such a Reddit, Twitter etc to access if the community is talking positively or negatively about a project. Or if they are even talking about the project at all!
The more articles that are available to analyse, the more confident we can be about the score. If there is not a lot of data available on the internet to use, this should be a redflag as it can indicate that no one is posting or writing about this project.

Highlights:
  • The overall sentiment is very positive
  • Enough of a collection of articles to be just about confident of the sentiment

Beefy Finance Community Score

The community score indicates how active community is. Are they writing lots of articles and engaging in lots of conversations on the web? Where is the crypto communities attention spent? There are so many hours in the day to spend writing, reading, researching a project. So how much of this time is spent on Beefy Finance?

The larger a community is then the more eyes are on that project. Sharing information, red flags and concerns is more likely the bigger the community is. And larger communities are alot hard to censor and control - therefore they provide a diverse range of opinions.

Overall Beefy Finance has a strong community, posting and creating lots of content across the internet on social media, forums, blogs and websites.

Highlights:
  • extremely high reddit articles
  • extremely high hashtag tweets
  • very good gitHub account watchers

Beefy Finance Awareness Score

The awareness score indicates how well Beefy Finance is known in the main stream. Its all very well for a project to have a discord channel to have 1000 users chatting all day about how great the Beefy Finance is but a good measure of longevity is how well the project is known by the general public.

Overall Beefy Finance this project is not known by the general community. If a project is new and has not had a lot of marketing or exposure then in general as the project grows the awareness score will increase.

Highlights:
  • good number of Beefy Finance YouTube videos
  • very poor search result total
  • very poor number of news articles mentioning Beefy Finance
  • no number of headlines about Beefy Finance

Beefy Finance Credibility Score

The credibility score indicates how credibility a project is. Does it have a ridiculous name? Is it run by a 13yr old in their basement? Is it just 2 days old and too early to tell?

Highlights:
  • Growing project age (released Oct 6, 2020)

Beefy Finance Volume Score

The volume score is the simplest of all our metrics and quite often the bottom line metric. It doesnt matter how well a project scores on the other factors, if it is only shifting a few thousand dollars a day in volume then there is a high chance you will left holding a bag

Highlights:
  • below average USD 24hr volume

Red flags come in all shapes and sizes

At the end of the day a cryptocurrency project requires you to part with your hard earned cash in order for it to become succesful.

You expect a level of transparency and professionalism from a project that is asking for your money.

There are all sorts of red flags which you should be weary of;

  • 404 (missing) websites
  • Expired SSL certs
  • Malware/Hijacked sites
  • Suspended Twitter accounts
  • Private Subreddits
  • SEC investiations

If you spot anything suspicious/resolved then please let us know.

Beefy Finance Red flags
  • No red flags
    No red flags have been identified. That doesnt mean its a 100% safe project, it just means that no red flags have been brought to our attention.

Beefy Finance Exchanges
BIFI
Member Ratings (BIFI)

3.33/5

6 reviews
Ratings and reviews left by our members do not impact the profile score.
Charlie
Wed, May 19, 2021 12:53 PM
Beefy.Finance is my go to Yield Optimizer. They are cross chain (Polygon, BSC, AVAX, HECO, FTM), the community behind it is amazing (the cowmoonity), and constantly releasing new vaults daily. Beefy autocompounds your deposited asset. No BS reward token, no minimum lock up time. What you put in is what you get out + more, withdraw anytime. Can't ask for more here. They had an issue with a vault in the past, causing locked funds. Beefy worked NIGHT and DAY to resolve this. They got EVERYONE their tokens back, PLUS yield compensation for the locked funds. Find me an optimizer that cares this much about their community. Always SAFU.
2 0
Vince
Wed, May 19, 2021 8:59 AM
I have excellent experiences with Beefy. You actually compound the assets you invest, not need for any additional work. Of course you will still need to DYOR in the underlying asset you invest in. There are a lot of vaults and networks to invest in, Active and helpful community. They might improve on marketing and UI, but for the rest 5 stars for now.
2 0
Martijn
Tue, May 18, 2021 7:31 PM
#1 Yield Optimizer for the BSC. I'm holding BIFI for 3 months now, I will never let it go. Also listed on Binance + stake option for the people who aren't using BSC.
0 0
Efe Pe
Thu, Apr 29, 2021 1:16 AM
me retienenlos token bunnys de otro proyectoy para sacarlos tengo que poner mas plata de la que tengo depositada
0 2
JJ
Sun, Apr 25, 2021 12:21 PM
1- You don't buy LP token from beefi.. 2- The LP value is independent from beefi...beefi is only an aggregator and auto compounder The platform delivers on its premise, AE comment is pretty wrong or noob
1 0
AE
Sun, Apr 18, 2021 4:41 PM
It seems that way. I bought some LP tokens on the platform, and even though the price of both tokens increase my account value was dropping. It seems like they slowly accumulate/steal funds. Definitely stay away.
2 6

68.75%

Complete
Profile Status

How complete is this profile:

Lots of missing data points

This profile is still waiting for the following data points

  • project whitepaper
  • project team
  • bitcointalk thread
  • tradingview profile
  • exchanges
Member Signals

3.33/5

(6 reviews)
Member Ratings
Market Cap Rank:
474
Voted:
--
Bulls v Bears:
neutral
Is Trending?
Member signals do not affect the profile score.
Beefy Finance Reddit
Beefy Finance Github
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