Beefy

Yield Aggregator

Beefy is a multi-chain yield optimizer. It allows investors to boost yields by auto-reinvesting rewards and socializing gas fees across a common pool.

Risk Rating
Average
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
What we like
Beefy took the concept of yield optimization to the next level by rapidly expanding across several alternative chains and DeFi protocols. It offers a simple and easy-to-use user interface.
What we like less
While Beefy has quickly innovated and shipped on prominent features, its Safety Score for DeFi pools still leaves a lot to be desired given limited metrics within the risk framework.
What it means for you
Beefy's vault system provide an easy way for you to maximize yield on many crypto assets by auto-compounding your earned rewards into the deposited asset.
Information
Exploit/Hacks
None
Info
  • Website
  • Token: BIFI
  • Tags: Yield Aggregator
Key Metrics
  • TVL: $248.5M (Rank #52)
  • TVL Ranking by Yield Aggregator: #2
  • Blockchain: Base, Arbitrum, Ethereum, Optimism, Binance, Polygon, Fantom, Avalanche, Linea, Cronos, Metis, Canto, Fraxtal, xDai, Kava, Fuse, Moonbeam, Mantle, Polygon zkEVM, Moonriver, Aurora, Oasis, Celo, Harmony, Heco
  • Chain TVL
    • Base: $67.7M
    • Arbitrum: $44.16M
    • Ethereum: $32.27M
    • Optimism: $27.77M
    • Binance: $21.28M
    • Others: $55.22M
Risk Assessment
Average
Protocol Code Quality
  • Code reviewed by at least one experienced auditor; CertiK audited in June 2021
  • Anonymous team reduces transparency
  • No documented protocol hacks since launch
Protocol Maturity
  • Core protocol launched in 2020; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Top 5% by total value locked reduces risk
  • Multisig wallet controls protocol upgrades
  • Multisig consists of less than 4 signers, which makes the protocol more susceptible to centralization risks
  • Timelock is less than 48hrs, which provides users with less time to exit if any malicious upgrades are approved
  • Low voting power concentration reduces risk
Protocol Design
  • No death spiral concerns
  • This protocol is susceptible to risks related to yield optimizers which deploy custom strategies to automatically manage user funds
  • Beefy will automatically reinvest any available rewards directed to the pool to help you maximize your yield
Things to know about Beefy

How Beefy works

Beefy takes users deposits of crypto assets and optimizes their yield by automatically reinvesting rewards generated on third-party DeFi protocols to compound earnings over time.

How Beefy makes money

The majority of Beefy vaults have a performance fee structure with 4.5% of harvest rewards are split up between BIFI stakers (3%), the treasury (0.5%), the strategist that developed the vault (0.5%), and the individual calling the harvest function (0.5%). Beefy already includes these fees into the yield of each vault. Some vaults also have a withdrawal fee in order to prevent possible exploits from malicious actors.

How you make money on Beefy

Beefy generates yield by pooling your deposits for a particular asset to be implemented in a vault strategy. These strategies generally involve depositing the underlying assets to various money market platforms to earn protocol fees and rewards. Your yield can come from lending interest, trading fees, staking rewards, as well as savings on transaction fees from socializing gas costs across all pool depositors.

Beefy Pools
Beefy Tricrypto Market Making
2.9%
Yield
$4M
TVL
Risk
D
Protocol
Beefy
Chain
Polygon
Beefy BTC-ETH Market Making
26.6%
Yield
$3M
TVL
Risk
D
Protocol
Beefy
Chain
Polygon
Beefy USD Market Making
22.2%
Yield
$2M
TVL
Risk
D
Protocol
Beefy
Chain
Arbitrum
Beefy GLP Market Making
14%
Yield
$2M
TVL
Risk
C
Protocol
Beefy
Chain
Arbitrum
Beefy AVAX-USD Market Making
125.6%
Yield
$1M
TVL
Risk
C
Protocol
Beefy
Chain
Avalanche
Beefy FTM Staking
0%
Yield
$745K
TVL
Risk
B
Protocol
Beefy
Chain
Fantom
Beefy BTC Market Making
2.1%
Yield
$615K
TVL
Risk
D
Protocol
Beefy
Chain
Arbitrum
Beefy BTC Market Making
0.8%
Yield
$457K
TVL
Risk
C
Protocol
Beefy
Chain
Optimism
Beefy OP-ETH Market Making
14.6%
Yield
$444K
TVL
Risk
C
Protocol
Beefy
Chain
Optimism
Beefy MATIC-ETH Market Making
37.2%
Yield
$425K
TVL
Risk
D
Protocol
Beefy
Chain
Polygon