@beefyfinance finally launched on #Ethereum!!! ๐ฎโ๏ธ
But why is a protocol that's known for being everywhere BUT Mainnet finally making the leap to the most expensive and competitive chain in existence?
Here's a #DeFi ๐งต for you to explain.
But why is a protocol that's known for being everywhere BUT Mainnet finally making the leap to the most expensive and competitive chain in existence?
Here's a #DeFi ๐งต for you to explain.
โ ๏ธ Disclaimer โ ๏ธ
Though I do a range of voluntary work with Beefy, the views expressed here are my own and not those of Beefy, its contributor team or its Cowmoonity at large.
Always do your own research before making investment decisions.
Though I do a range of voluntary work with Beefy, the views expressed here are my own and not those of Beefy, its contributor team or its Cowmoonity at large.
Always do your own research before making investment decisions.
So why's #Ethereum different for Beefy?
Nearly every Beefy users arrives because of a decision to move beyond Ethereum to other blockchains
90% of the time, this has something to do with Ethereum gas fees being too expensive for ordinary users to participate in DeFi.๐ฐ
Nearly every Beefy users arrives because of a decision to move beyond Ethereum to other blockchains
90% of the time, this has something to do with Ethereum gas fees being too expensive for ordinary users to participate in DeFi.๐ฐ
But Beefy's model is actually a perfect fit for #Ethereum!๐ค
By aggregating volume into fewer transactions, costs are socialised and reduced on a per-user basis.
User rewards are harvested and compounded more frequently, which drastically increases your yield/APY.๐
By aggregating volume into fewer transactions, costs are socialised and reduced on a per-user basis.
User rewards are harvested and compounded more frequently, which drastically increases your yield/APY.๐
Why not #Ethereum?
First, Beefy's focus on lower-cost blockchains has attracted a userbase of ordinary consumers, investing smaller amounts from their personal savings.
Moving back to Mainnet is expensive, and the market is very saturated, so yields for existing users are low.
First, Beefy's focus on lower-cost blockchains has attracted a userbase of ordinary consumers, investing smaller amounts from their personal savings.
Moving back to Mainnet is expensive, and the market is very saturated, so yields for existing users are low.
Secondly, in light of this saturation, #Ethereum has become the most developed market, with highly advanced competitors.๐ฅ
Take for example the Curve wars, which are dominated by @ConvexFinance's cvxCRV. I doubt Beefy will ever exert control over Curve... defiwars.xyz
Take for example the Curve wars, which are dominated by @ConvexFinance's cvxCRV. I doubt Beefy will ever exert control over Curve... defiwars.xyz
...so entrenched players like @iearnfinance (Beefy's closest competitor) can maintain control part of the reward gauges on key protocols like Curve.
Using their yCRV model, Yearn direct CRV emissions towards its products, increasing APY over competitors. docs.yearn.finance
Using their yCRV model, Yearn direct CRV emissions towards its products, increasing APY over competitors. docs.yearn.finance
There's no doubt in my mind, Beefy faces an uphill struggle if its going to challenge existing #Ethereum competitors head on.๐๏ธ
It needs to convert existing users, attract new ones and deploy volume cleverly to target growth, all without falling into losing battles.
Yikes. ๐ณ
It needs to convert existing users, attract new ones and deploy volume cleverly to target growth, all without falling into losing battles.
Yikes. ๐ณ
So why am I excited?
Well Beefy brings something different to #Ethereum, which I think is sorely lacking at the minute.
That's the ultimate template for simple autocompounding - a.k.a. the Beefy mooVault!
๐ฎ ๐ ๐ฐ
docs.beefy.finance
Well Beefy brings something different to #Ethereum, which I think is sorely lacking at the minute.
That's the ultimate template for simple autocompounding - a.k.a. the Beefy mooVault!
๐ฎ ๐ ๐ฐ
docs.beefy.finance
Beefy's design is super straight forward!
Each vault executes 1 strategy autonomously: aggregate deposits, invest in the farm, harvest rewards when profitable, and redeposit the profits to autocompound.๐
Put simply: Frequency of harvests == rate of earning acceleration.๐
Each vault executes 1 strategy autonomously: aggregate deposits, invest in the farm, harvest rewards when profitable, and redeposit the profits to autocompound.๐
Put simply: Frequency of harvests == rate of earning acceleration.๐
Contrasting to @iearnfinance, Beefy is far superior.
yVaults execute a range of strategies, so the best one is diluted by the rest. Users have no control.๐
yVaults are manually administered, so compounding is infrequent, like only once per month in the YFI vault shown below.๐
yVaults execute a range of strategies, so the best one is diluted by the rest. Users have no control.๐
yVaults are manually administered, so compounding is infrequent, like only once per month in the YFI vault shown below.๐
What's the outcome?
IMO Beefy's mooVault design wins every time. Users WILL get a higher APY on the same underlying assets. ๐ฎ๐ฅ๐ฅ
Though Beefy's success depends on volumes, the frequency of its harvests means returns can be exponential to volume. Yearn isn't even close.๐ต
IMO Beefy's mooVault design wins every time. Users WILL get a higher APY on the same underlying assets. ๐ฎ๐ฅ๐ฅ
Though Beefy's success depends on volumes, the frequency of its harvests means returns can be exponential to volume. Yearn isn't even close.๐ต
The other major factor is the teams at play here. ๐ค๐ค
Beefy's crew are battle tested and 100% devoted to compounding your yields. See for yourself: discord.gg
Most other teams aren't shipping at half their rate, and end up distracted by governance or vanity.
Beefy's crew are battle tested and 100% devoted to compounding your yields. See for yourself: discord.gg
Most other teams aren't shipping at half their rate, and end up distracted by governance or vanity.
At the risk of being presumptive, I believe that Beefy is the market leader now.
Though Yearn has always led by TVL, the change in market share over time tells a different story.
Beefy hasn't lost any position in the ๐ป... in fact its consolidated... and now is ready to steal!
Though Yearn has always led by TVL, the change in market share over time tells a different story.
Beefy hasn't lost any position in the ๐ป... in fact its consolidated... and now is ready to steal!
How can you benefit?
1. Check Beefy's app for new opportunities on #Ethereum with massive APYs ๐
2. Start migrating your assets over whilst gas is at ๐ป prices.
3. Sit back and watch Beefy dominate the next๐.
4. Buy $BIFI to own a share of this action.
app.beefy.finance
1. Check Beefy's app for new opportunities on #Ethereum with massive APYs ๐
2. Start migrating your assets over whilst gas is at ๐ป prices.
3. Sit back and watch Beefy dominate the next๐.
4. Buy $BIFI to own a share of this action.
app.beefy.finance
Also make sure to check out our active Cowmoonity members on Twitter. ๐ฎ
@w3soBeefy
@thebeefycow
@mjoaris
@frondoto1
@DefiDebauchery
@__ePete
@eren_beefy
@PowerBeefy
@AppelNL1
@cowmoonityHQ
@BeefyMoofia
@beefypulse
@beefy_manz
(Sorry to all those I missed!)
@w3soBeefy
@thebeefycow
@mjoaris
@frondoto1
@DefiDebauchery
@__ePete
@eren_beefy
@PowerBeefy
@AppelNL1
@cowmoonityHQ
@BeefyMoofia
@beefypulse
@beefy_manz
(Sorry to all those I missed!)
As I've said for a while now, the true flippening is imminent.
@beefyfinance is THE yield optimiser, and its ready to take #Ethereum by storm.
Sooner or later, we'll all be living in Beefy kinda world.
Don't miss out on this once in a lifetime opportunity to take part...
@beefyfinance is THE yield optimiser, and its ready to take #Ethereum by storm.
Sooner or later, we'll all be living in Beefy kinda world.
Don't miss out on this once in a lifetime opportunity to take part...
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