Beefy Finance expands deeper into the Avalanche blockchain, establishing a strong partnership with Pangolin, the largest DEX on Avalanche.
Beefing Up the Multi-Chain
Beefy Finance (BIFI) has partnered with Pangolin, the largest decentralized exchange (DEX) on the Avalanche blockchain network. The news of said partnership was released June 22nd via Twitter and looks to be tremendously beneficial to both protocols.
The union of BIFI and Pangolin is important for both projects, as Beefy Finance looks to continue its push into other blockchain networks. Pangolin is one of the largest crypto projects on the Avalanche blockchain, raking in roughly 300 million in TVL at their peak.
Currently, Beefy Finance is hosting 8 Pangolin vaults that run via the Avalanche network. The new partnership looks to increase liquidity for BIFI on the Avalanche network and bolster the liquidity on the Pangolin exchange.
For those who may not know, Pangolin is also completely community-driven. It has a small developer team that manages the growth of the platform. In a community poll, the Pangolin community voiced their strong desire to partner and work closely with Beefy Finance. Fans of Beefy Finance also get an exciting win. The partnership looks to bring a BIFI Maxi vault on the Avalanche blockchain, where inventors can get paid directly in BIFI, rather than AVAX, the Avalanches native coin.
To find out more, Beefy Finance joined Pangolin for an hour-long AMA through Telegram on June 23rd. Beefy’s Head of Communication, Moon Cow, answered questions from the Pangolin community and a crew of their leaders.
What is Beefy Finance?
Beefy Finance is a cross-chain yield farming aggregator on the Binance Smart Chain, HECO, Polygon, Fantom, and Avalanche blockchain that helps investors to grow their crops automatically through its automated vault strategies.
What is Pangolin?
Pangolin is the largest decentralized exchange on the Avalanche blockchain network. At its peak, the DEX bolstered a massive $300 million in total value locked. Pangolin is one of Avalanche’s most important protocols and serves an essential purpose in the Avalanche ecosystem. Pangolin is also entirely centralized, with community governance being entirely responsible for the direction of the platform. There is currently a small team of developers responsible for building and executing what the community wants.
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.