Day one of BeefCAKE week is behind us and we hope you save room. Beefy users are coming out in full force as the total volume locked and liquidity increase across the Beefy protocol.
What is BeefCAKE Week?
BeefCake week, scheduled for June 14-18, is receiving a very warm welcome. The newest CAKE vaults from Beefy Finance have no middlemen, almost no fees, and can see annual compounds as high as 8k%. The low fees and boosted security on the new CAKE vaults are proving attractive for investors with over $25M of CAKE vaults just over a day after the release.
Mooncow Lands on the BSC.News Podcast
The Beefy team continues to innovate and their Beefy dev, Mooncow, joined with the BSC.news Podcast on Monday to discuss BeefCAKE week and their project. Mooncow answered questions for Greg (@GoonTrades) and Ben (@KCryptoInvest) from BSC.News. The Beefy dev spoke on behalf of his team when he said they are looking to build a strong and diverse cross-chain platform.
The team has seen significantly more growth on the Polygon than Binance as of late. “We don’t want to be tied to just one team,” he said when speaking about Beefy’s potential in cross-chain growth. Mooncow encouraged users to check out Polygon where Beef-eaters can find lower fees and higher compounds. The cross-chain dex, AnySwap is the preferred chain bridge for users to get from BSC over to Polygon.
Mooncow also spoke about the trust they received early on from Binance itself. The major player instilled trust in the young dev team that paid dividends when negotiating with protocols. With the support from Binance as well as notable names like TrustWallet, the team has been able to make confident connections across the chains.
BeefCAKE Week Continues
The connections made by BeefFinance are being explored across a number of AMAs during BeefCAKE week. There will be a BeefyLearn AMA with a different protocol each day: Iron Finance on Tuesday followed by King Finance on Wednesday, and SafePal on Thursday. The AMAs will likely take place on one of the team’s social media sites like Telegram so watch for links on Twitter and other sites. Attendees should expect education and fun.
Beefy will have its first giveaway on Tuesday with $500 KROWN from King Finance. For more info on the giveaway details, see Beefy’s rules. The NFToaster BeefCAKE Meme contest is also happening all week with the final vote coming on Friday.
The magic does not stop with just CAKE. The Beef team has also been active this week in releasing vaults with Wault Finance across Polygon and Matic. The team is showing massive daily APRs of up to 4% for WEX-MATIC. There are also vaults with Ripple (XRP), Cardano, and Litecoin. Beefy Finance is making lucrative connections across all blockchains.
Who is Beefy Finance?
Beefy Finance is a multi-chain yield optimizer on Binance Smart Chain. The protocol’s token, $BIFI, is currently trading at ~$1,600, according to CoinMarketCap. Beefy is known for its high yields on their compounding interest for investors. Beefy Finance offers unique vaults for users to stake crypto tokens and earn high yields from their deposits. Beefy is a popular dynamic fixed supply token that can redistribute revenue back to its users.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.