Polygon Beefy - DeFi Protocol

With $1,02B in TVL spread across 354 protocols, Polygon is the top 4 DEFI chain with many well known protocols: AAVE, Curve, Uniswap & more! More stats on → https://defillama.com/

If you are getting started with DeFi or you want to get the best yield for your tokens but don’t know exactly which protocol to start with, you might find it useful to look into

Beefy, a yield aggregator DeFi protocol → https://app.beefy.com/

#1 - Some important protocol info:

Launch date: September 21th 2020

First launch on: Binance Smart Chain

N° of chains as for January 2023: 17

Total TVL: 237m USD

Beefy Polygon TVL: 62m USD - Polygon is the top 1 chain for Beefy

Governance token: $BIFI

Can your deposits be insured? Yes! with Nexus Mutual - Check point #4 Is Beefy safe to use?

#2 - We can go on with: what’s a yield aggregator?

A Yield Aggregator is a protocol that optimizes yield from other protocols by auto-compounding rewards.

You deposit tokens through Beefy UI, those coins will then be deposited in the protocol they are optimizing the yield from and your amount of tokens will grow each day thanks to the magic of auto-compounding rewards. This is precisely one of the main X Factor for Beefy.

They have some really cool features as well, a safety score of the protocol you will be depositing your tokens in, the history of the vault APR, TVL & token price, the strategy Beefy uses and when was the last reward harvested for a particular vault.

#3 - How to use Beefy? Imagine you have some USDC after selling one of your Trippy Wolves. You want to earn a yield from them until you are ready to buy a new one, but don’t know where to invest it. What can you do? Check Beefy!

Head over to: https://app.beefy.com/

Select Polygon chain and stablecoins Organize from high to low TVL or APR (depending on how degen you are) Search for USDC Have an eye on the ‘Safety’ column at the end (don’t take it as divine number though, DYOR the protocol where your tokens will be deposited) Click on the vault you like to see extra info given by Beefy → example: Stargate USDC vault: https://app.beefy.com/vault/stargate-polygon-usdc