622
edits
Difference between revisions of "Beefy Finance"
category
(added categories) |
(category) |
||
| (One intermediate revision by one other user not shown) | |||
| Line 1: | Line 1: | ||
Beefy finance is a [[Yield optimizer]] protocol on mulitple [[EVM]]-compatible blockchains. | Beefy finance is a [[Yield optimizer]] protocol on mulitple [[EVM]]-compatible blockchains. | ||
Beefy is one of the oldest yield aggregators and it | Beefy is one of the oldest yield aggregators and it has maintained a total value locked (TVL) of at least $400m since May 2021.<ref>https://defillama.com/protocol/beefy-finance</ref> | ||
[[File:Beefy finance main screen.png|thumb|415x415px|Beefy finance main screen]] | [[File:Beefy finance main screen.png|thumb|415x415px|Beefy finance main screen]] | ||
| Line 7: | Line 7: | ||
== Products == | == Products == | ||
Beefy offers two main kinds of vaults | Beefy offers two main kinds of vaults, LP vaults and Single token vaults. | ||
=== LP vaults === | === LP vaults === | ||
The user deposits the LP token in these vaults and the protocol automatically harvests the rewards (most likely liquidity mining incentives), sells them to buy more of the tokens of the liquidity position and increases the LP position with them, finally redepositing the newly received LP tokens back into the vault. This process is called '''auto-compounding'''. | The user deposits the LP token in these vaults and the protocol automatically harvests the rewards (most likely liquidity mining incentives), sells them to buy more of the tokens of the liquidity position and increases the LP position with them, finally redepositing the newly received LP tokens back into the vault. This process is called '''auto-compounding'''. | ||
| Line 17: | Line 17: | ||
# Back at no.2, until the strategy can't be looped again | # Back at no.2, until the strategy can't be looped again | ||
By depositing into a vault the user receives mooTOKENs, a claim on | By depositing into a vault the user receives mooTOKENs, a claim on their shares of the vault. | ||
== Fees == | == Fees == | ||
| Line 32: | Line 32: | ||
<references /> | <references /> | ||
[[Category:Protocols]] | [[Category:Protocols]] | ||
[[Category:Yield Aggregator]] | |||