Beefy
Liquidity · Vaults · BIFI
Beefy is a decentralized, multi-chain yield optimizer. Its vaults automatically harvest farm rewards and recompound them back into the underlying LP position, maximizing compounded APY across dozens of chains.
Multi-chain auto-compounding yield optimizer.
Protocol TVL
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+0.0% 24h
Latest data · 15 min delay
Risks identified
- Smart Contract
Each Beefy vault is a strategy contract that automatically moves, swaps and reinvests deposited funds. A bug or exploit in a vault strategy, the zap router, or the CLM range-management logic could lead to loss of deposited funds despite extensive auditing.
- Systemic
Vaults sit on top of external farms, DEXs and lending protocols. Beefy yields and principal depend on those underlying protocols remaining solvent and functional; a hack, rug or reward collapse in an underlying farm flows straight through to Beefy depositors.
- Network
Beefy's very broad multi-chain footprint (well over 15 chains) plus its historical reliance on cross-chain bridges creates large surface-area and bridge risk. The July 2023 Multichain bridge failure, which forced the BIP-71 migration of BIFI to Ethereum, is a concrete example of bridge/chain risk materially affecting the protocol.
- Collateral
Many vaults hold LP or concentrated-liquidity positions exposed to impermanent loss and volatile reward tokens. In CLM, range impermanent loss accrues while a position is in range and is realized on exit, so users can withdraw less value than a simple hold of the underlying assets.
- Governance
Protocol parameters, treasury use, fee levels and major changes (such as the token migration) are decided by BIFI holder votes and executed by a contributor multisig. Concentration of voting power or multisig-key compromise could adversely affect users.