Staking in the Launch Pool vaults creates additional yield on top of the regular vault earnings. In essence, the Launch Pool is just an extra incentive to use the Beefy platform, allowing users to stake their previously worthless mooTokens.
Beefy Finance is a yield optimizer on the Binance Smart Chain (BSC), Heco, and Avalanche Networks. The platforms yield optimizing vaults are immensely popular. The easy-to-use interface makes it simple to stake your assets and start earning yields. Beefy Finance leverages smart contracts to compound earnings, increasing the total of the underlying assets.
The auto compounding feature saves users time and money, as the contracts do all the work for you at no extra costs. When withdrawing, the vaults will charge anywhere from 0.05% to 0.1%, depending on the type of vault. There are over 200 strategic vaults on the Beefy platform. These vaults make use of the many yield farms and projects that can be found on the BSC.
Beefy is also offering its services to other blockchains. Beefy’s roots lie on the BSC, but the project now also offers vaults on the Heco and Avalanche Networks. However, the TVL (total value locked) for those networks is only 1% of TVL harbored by BSC Beefy vaults.
The Beefy Launch Pool Vaults are a means to earn extra yields over your already staked assets. When staking assets in the Beefy Vaults, users will get a receipt token. These are the mooTokens that will sit in your wallet if you are staking in a Beefy Vault. The launch pool vaults are incentivized by partner projects and will give users that stake their corresponding mooTokens a portion of the partnered projects token.
The vaults that are eligible for Launch Pool staking are marked with the green “BOOST” sign. When pressing the boost emblem in the top menu on the page, it will take you to the Launch Pool page. You can stake your mooTokens and start earning extra yield in the form of new tokens provided by partner projects. The Launch Pool Vaults are limited; once the timer is exhausted, no more rewards will be earned. You can then claim the rewards and unstake your mooTokens.
Staking in the Launch Pool vaults creates additional yield on top of the normal vault activity. In essence, the Launch Pool is just an extra incentive, giving dual rewards.
Although Beefy Finance states that before offering a partner vault, it will do an overall check and look at the code, a 100% guarantee cannot be given. This is due to DeFi having underlying smart contract risk attached to it. Therefore, you must do your due diligence check and judge yourself if you want to invest in any project. In short: always DYOR (Do Your Own Research).
The Launch Pools are updated with new vaults regularly. Currently, the two pools allow users to earn sBGO and TNDR.
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.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.