@beefyfinance 's well positioned for the next bull run!
Even now, they're bringing immense value that can unlock a $15bn locked market!
A 🧵 on how overlooked the benefits of Beefy are! (1/14)!
This thread will be split into 4 parts:
1️⃣ What is @beefyfinance [3-4]
2️⃣ Traction [5]
3️⃣ Why it matters to you [6-9]
4️⃣ Personal thoughts [10-11]
1️⃣ What is @beefyfinance
Pretty straightforward -- they're building vaults to simplify your LP/farming/accumulating experience!
Some of their active (auto-compounding) vaults include:
1. DEX/Bridge LP
2. Leveraged lending
3. Single-sided staking
4. GLP
5. veTokens
Protocols incentivise users who conducts useful activity (e.g., LP-ing in DEXes, lending/borrowing in money markets, staking, etc.).
Auto-compounding is a no-brainer move in most cases, tho fees involved might eat up your gains.
By pooling deposits, fees become negligible.
2️⃣ Traction
They had $1.2bn TVL at peak and are currently sitting on a fat $175mn stack!
Also, they're live on about every other chain.
The decline's in-line with the overall DeFi ecosystem's.
DEX LP auto-compounding vaults drive majority of their TVL.
3️⃣ Why it matters to you
Certain vaults charge deposit and withdrawal fees. These fees accrue to $BIFI holders through BIFI Earnings Pools, all while still enabling governance power.
If you're a user farming DEX rewards (esp. for medium-longer term), Beefy's the way to go!
Now to protocol's, @beefyfinance 's really helpful for you!
E.g., using mooTokens (i.e., vault receipts) as collateral in a money market solves the hassle of reward management. Users also get the benefit of an interest-bearing asset.
Opening up a $15bn market 👀.
twitter.com/archipelabro/status/1691026900070879234
To protocols integrated in Beefy's underlying vaults, your incentives are being put to use, properly!
They sell your tokens for more liquidity to your protocol, aligned with your goal (as compared to giving straight to users and them dumping w/o adding more liquidity).
You can further utilise this by boosting your Beefy vaults.
Users then have to stake their mooTokens to receive the additional incentives!
4️⃣ Personal thoughts
It's a given bull market's a fan of Beefy, lots of retails (who prefers simplicity) and incentives (which needs to be auto-compounded).
Hyperbolic real soon!
Being the liquidity hub (and interface) also opens up lots of room for product expansion.
twitter.com/rektdiomedes/status/1691361582314401793
Beefy's DD process and insurance (@InsurAce_io @NexusMutual) integrations are also in-place to ease your mind!
docs.beefy.finance/safu-protocol/beefy-safu-practices
Thanks for your support frens ❤️
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