Beefy Staking
Beefy (BIFI) staking data is not available on Staking Rewards. You can still convert token prices, estimate your rewards and explore reward options for similar proof-of-stake assets.
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Learn about Beefy Staking
How to stake BIFI
To earn a yield on your BIFI, you can either lend them out to custodial providers, supply liquidity on theBeefy Finance App or stake your tokens on the platform.
To stake your tokens, you should ensure you have your BIFI tokens are on your Metamask Wallet and follow the steps below:
Step 1: Go to the Beefy Finance Portal.
Step 2: Input the amount to stake.
Step 3: Click on ‘Deposit’ and confirm the transaction in your wallet.
Do I need to maintain my staking in any way?
Once you have staked your BIFI, there are things you need to consider going forward:
- Rewards are not automatically compounded, you will need to claim and restake your BIFI to compound your stake.
What is BIFI?
BIFI is the native governance token of Beefy Finance and is used to carry out the key functions of the platform as detailed below:
Token Utilities:
- Staking: Users can temporarily lock up BIFI, in return for the service, stakers are rewarded with revenue is generated from a small percentage of all the vault profits.
- Governance: BIFI is used to vote on governance proposals on the network. Only staked tokens are eligible to be used for governance voting. The amount of voting power is measured in terms of stake.
What are the risks associated with staking BIFI?
Whilst we want to ensure staking is as safe and transparent as possible, there are still things to consider regarding whether a specific staking option is right for you:
Slashing risk: There is no slashing risk involved when staking BIFI tokens.
Unbonding risk: There is no unbonding period involved when unstaking BIFI tokens.
Protocol security risks: There is an inherent risk that the protocol could contain unknown bugs. This not only applies to staking but your BIFI investment in general.
Please note that this is not an exhaustive list of all the risks related to staking.
What are the tokenomics of BIFI?
The supply of BIFI is capped at 80 000 tokens.
Initial Distribution Breakdown
- 90% (72 000) – Community
- 10% (10 000) – Founding team
What is the 24h Trading Volume of Beefy (BIFI)?
How has the price of BIFI changed over the past 24h?