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BeefyFinance Has Integrated OasisNetwork

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

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 However, despite what the name Vault suggests, funds are never locked and can always be withdrawn at any time.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.

Furthermore, Beefy currently has $375 million in TVL and currently 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.

About Oasis Network

The Oasis Network a Layer 1 decentralized blockchain network designed to be uniquely scalable, privacy-first and versatile.

The Network has two main architectural components, the Consensus Layer and the ParaTime Layer.

  1. The Consensus Layer is a scalable, high-throughput, secure, proof-of-stake consensus run by a decentralized set of validator nodes.
  2. The ParaTime Layer hosts many parallel runtimes (ParaTimes), each representing a replicated compute environment with shared state.

Website | Twitter |

About Beefy Finance

Beefy Finance a Decentralized, Multi-Chain Yield Optimizer platform that allows its users to earn compound interest on their crypto holdings.

Through a set of investment strategies secured and enforced by smart contracts, 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.

Website | Twitter |

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