Oasis Network announces the partnership with Beefy Finance

 


Beefy.Finance, a decentralized, multi-chain yield optimizer platform, has integrated their protocol on Oasis Network to auto-compound on YuzuSwap, the first DEX built on Oasis Emerald, the EVM-compatible ParaTime.


Directly inspired by the yield optimization projects on the Ethereum network, Beefy is the community-powered project committed to the idea of radical transparency, which is especially important in emerging Web3 ecosystems such as DeFi.   Beefy.Finance offers its users to get a yield on their crypto capital in a safe and decentralized manner. 

Through a set of smart contracts and several investment strategies, Beefy.Finance automatically maximizes the user rewards from various liquidity pools (LPs), automated market making (AMM) projects, and other yield farming opportunities in the DeFi ecosystem. This provides a huge advantage over attempting to do this manually.

What is a Yield Aggregator?
A yield aggregator is a protocol that automates the staking and reward collecting process on behalf of protocol users. They are some of the most popular crypto projects and are the cornerstones of all DeFi ecosystems.

Vaults
Beefy’s main products are Vaults, in which crypto tokens are staked.  The investment strategy tied to a specific vault automatically increases the deposited token amount by compounding yield farm reward tokens back into the initially deposited asset. However, despite what the name Vault suggests, funds are never locked and can always be withdrawn at any time.

What Vaults has Beefy launched?
Five Vaults have initially been opened on Oasis for the following YuzuSwap LP token pairs:

  • YUZU-Rose
  • ceUSDC-YUZU
  • USDT-YUZU
  • USDT-ROSE
  • wETH-ROSE


The investment strategy tied to the Vaults will automatically harvest the $YUZU rewards and convert them into more LP tokens to increase the yield users receive and save them time.

Beefy currently has $375 million in TVL and currently is integrated into 15 chains. Because Beefy is a permissionless and trustless DeFi application, meaning anyone with a supported wallet can interact directly with the protocol without the need for a trusted middleman.

How to do it
You can use Wormhole, cBridge, or Multichain to bridge your tokens to the Oasis Network. 👉Click here, for more information on how you can get your ROSE from Oasis Network to Emerald ParaTime.

Beefy Finance

Oasis Network


 


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