Savvy DeFi is proud to announce that we will integrate with Beefy Finance. For those unfamiliar with Savvy, here is a primer.
Beefy is a decentralized, multi-chain yield optimizer that makes it easy to earn yield by providing liquidity to various liquidity pools (LPs), AMMs, and other yield farming opportunities.
The pools we integrate with will vary depending on TVL, rewards rate, and liquidity. Our initial integrations with Beefy vaults will include AVAX on Aave, USDC-USDC.e on Trader Joe, USDC-USDC.e on Pangolin, USDC on Aave, USDT on Aave, and USDT-USDT.e on Trader Joe. Don’t see a pool you want us to include? Let us know which one, and we may support it in the future.
How does this Impact Savvy Users?
Savvy uses yield-generating strategy providers, like Beefy, to create auto-repaying loans. The yield generated by Beefy will pay down the loan balance for Savvy borrowers that select Beefy strategies.
Beefy prioritizes security and a great user experience. Their smart contracts are thoroughly audited by reputable industry firms, ensuring that users’ assets are safeguarded in Beefy’s vaults.
Beefy’s stringent set of security measures called SAFU (Secure Asset Fund for Users) ensures that the assets stored in Beefy contracts are safe and secure. Their security practices include:
- Contract Verification in the Block explorer
- Non-native tokens from reputable bridges
- Adequate liquidity for swapping farm token rewards
- Rug/migrator functions removed or time-locked
- Farm token emission rates time-locked
- Farm token holders with >5% circulating supply, not EOAs or multi-sigs
- Proxy implementation changes time-locked
In conclusion, integrating Beefy and SavvyDeFi gives users more opportunities to earn high yields on their assets. By combining Beefy’s yield optimization strategies with SavvyDeFi’s synthetic credit line, users can maximize their returns and unlock immediately-available liquidity on their assets.
We’re excited to be integrated with Beefy and to include their yield farming opportunities as a part of our protocol. Stay savvy and happy yield farming!
A Boost to Beefy’s Community: Savvy’s Fair Launch Boosted Reward
As a thank you to Beefy’s amazing community Savvy has created an LGE Boosted Reward to reward BIFI holders and depositors in Beefy-Savvy enabled pools.
Get a Savvy Fair Launch Ticket just for using Beefy!
Click through to claim your ticket on the Savvy Galxe campaign.