The DApp industry is becoming somewhat highly competitive and Beefy.Finance just took APY to a whole new level after setting a return of 700%+ yearly and this is by far one of the highest I have seen all through this year.
2020 did come with its ups and downs but one of the major breakthroughs we had was the introduction of Decentralized finance platforms, agreed some didn’t go as planned but those who remained made DeFi amazing.
Finance is probably one of the most discussed topics in our everyday life after all humanity as a whole can never be satisfied and we try to look for means, create/develop ways to either double, triple, or quadruple our returns with lesser risk involves.
Over the years the approach changed continuously and the goal was always a means to multiply our income with lesser risk, lesser workload, and peace of mind.
Decentralized finance brought this to reality and individuals are able to earn from performing different activities directly from their mobile or PC, such activities relate to providing liquidity, lending, or borrowing.
Users engage in the above tasks with the aim of getting greater ROI when compared with centralized financial platforms.
DeFi has been on the rise starting from the earliest months in 2020, we saw them mainly dominating the Ethereum Blockchain but soon later other blockchains saw the need of making such DApps on their platform, EOS took this upon themselves, and later on, Binance smart chain began to see a geometric increase in the rise of DeFi around their space.
Beefy.Finance is built on the Binance smart chain network and offers multiples earning opportunities which includes but not limited to liquidity provision for paired tokens, staking of tokens, and amongst many others.
The major advantage Binance smart chain has over the Ethereum Blockchain is a highly subsidize transaction fee, at the moment of writing this article, traders or rather dex users on the Ethereum Blockchain are currently facing high transaction fees leaving so many individuals stranded and unable to perform their day to day on-chain related activities.
Binance smart chain is changing this and up till recently, we have seen several Ethereum DApps making moves to BSC in other reduce fees paid when individuals do decide to access their various platforms.
A few days ago my attention was drawn to Beefy.Finance with the tag of higher APY, at first I thought it was all mistake like seriously which platform gives you such high returns for simply staking the said token/coin.
Curiosity got the best of me and I did decide to make a quick browse through and I must say the outcome was really worth the while.
Beefy.Finance is built on Binance smart chain and uses a web3 based supported wallet to access its page, meaning individuals need a DApp browser to gain full access to Beefy.Finance and glad to say TokenPocket does exactly this.
A few months back TokenPocket added support for the Binance smart chain by allowing users to store and manage their BSC assets and that wasn’t enough they went further to provide support for BSC DApps which has been constantly increasing on a daily basis
TokenPocket is available for both Android and IOS devices and individuals can easily download TokenPocket from its homepage here https://www.tokenpocket.pro/
Upon download completion, install and launch TokenPocket app from your mobile menu
Create or Import a BSC wallet from the various options available on the startup menu.
Click on the discover menu from the asset page to bring a list of supported DApps available on TokenPocket and if yours is not available, a quick search can fix it via the search menu box.
Scroll down to locate Beefy.Finance or simply search on the name
Launch the DApp after search completion and allow the page to load properly
Your account is automatically logged in but if not, the option to sign in is always available.
Disclaimer: The above article is for entertainment and educational purposes individuals are advised to do their own research before investing in any digital or offline platform.