New CAKE Vaults, with 77% fewer fees, come with boosted security and a Launchpool Boost
BeefCAKE Week Kicks Off
Get ready for a full meal this coming week. In a true summer coming-out party, Beefy Finance is teaming up with Pancakeswap for an entire week of fun starting June 14th. To celebrate the launch of their new CAKE vault there will be AMAs and NFT giveaways across a multi-day bonanza.
The Beefy team has been teasing users and crypto enthusiasts for a few days. They originally announced the start o BeefCake week on June 12 via their Twitter. Many users clamored for more information as they were left waiting in the replies. The wait is over.
The new vault will be very accessible with very little barrier to entry. It will require zero deposit down. No withdrawal fees. No call fees, or treasure fees, or strategist fees. The performance fee will drop from 3% down to 1% from the previous vaults. This launch is nearly fee-less, with 77% fewer fees than before.
The new CAKE vault will be paired with a Launchpool Boost that all expect to see lower fees and big earnings. Users will earn auto-compounding CAKE from their deposits. The vaults have also updated the security. The Beefy Team eliminated the middlemen platforms between their vault and PancakeSwap. With the extra step removed, there will less risk for smart contract and partner error.
Old users of the Beefy Finance app should be aware of some coming changes on the protocol. All three of their old CAKE vaults will be changing over to one single vault. Beginning June 14, no more new deposits will be allowed for Smart CAKE, CAKE SwampFinance, and CAKE Autofarm. Vaults will not stop earning interest and should be moved over before all accounts are retired completely on 21 June.
The event schedule for BeefCake week will feature an event every day, including education AMAs and NFT contest. See the lineup below.
June 14, Monday:
Launch new pure CAKE Beefy Vault
Smart Cake no longer accept deposits
Swamp and Autofarm CAKE vaults
NFToaster BeefCAKE Meme Contest
BSC News Live Interview, with Mooncow
June 15, Tuesday:
Iron Finance x Beefy Learn AMA
King Finance $500 KROWN Giveaway
June 16, Wednesday:
King Finance x Beefy Learn AMA
June 17, Thursday:
SafePal x Beefy Learn AMA
June 18, Friday:
NFToaster BeefCAKE Meme Contest voting
About Beefy Finance
Beefy Finance is a multi-chain yield optimizer on Binance Smart Chain. The protocol’s token, $BIFI, is currently trading at ~$1,354, 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.
For more information about Beefy Finance and their vaults, check them out at the following links:
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.