In Beefy, do you have to manually, and periodically, reinvest?

jrrsparkles

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Quote from: pornluver on March 04, 2022, 04:17:10 AM

Anything else like Beefy?

Wow. I am very interested.

When I saw the APY, I confirmed that its not a legitimate staking platform. No legitimate platform will give nothing beyond 10% but here it says 500% and few with K's behind so its too good to be true.

pornluver

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Quote from: dimonstration on March 03, 2022, 06:18:45 AM

You should move this on Altcoin Section, either discussion or services, Beefy is a yield farming optimizer meaning they are increasing your APY by optimizing your profit through auto compounding your staked tokens on LP. All vaults on Beefy has an auto compound feature because this there main feature that typical AMM exchange doesn't have.

So answer on your is a big YES, Your staking profit is auto reinvest in a certain time interval, You can check beefy docs for the exact time which they reinvest your profit.

Anything else like Beefy?

Wow. I am very interested.

pornluver

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How do I move this to altcoin? Oh someone already does?

Thanks.

dimonstration

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Dimon6969

You should move this on Altcoin Section, either discussion or services, Beefy is a yield farming optimizer meaning they are increasing your APY by optimizing your profit through auto compounding your staked tokens on LP. All vaults on Beefy has an auto compound feature because this there main feature that typical AMM exchange doesn't have.

So answer on your is a big YES, Your staking profit is auto reinvest in a certain time interval, You can check beefy docs for the exact time which they reinvest your profit.

tabas

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This should be on the Altcoin Discussion.

Quote from: pornluver on March 03, 2022, 06:10:38 AM

In Axie infinity, for example, every few days we have to claim ronin and buy stuffs and then restake again.

In beefy, are they automatically reinvested?

How can that works anyway?

I haven't used beefy finance but the details are there, it says daily percentage, and as well as it's written on the website, this note for all vaults.

Quote from: https://app.beefy.finance/#/bsc

All vaults autocompound at an optimal rate

CMIIW, so if it says auto compound then it's automatically "restaking" your stake.

pornluver

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I am not sure if it's on topic here.

If not, please tell me which subforum I should go

In Axie infinity, for example, every few days we have to claim ronin and buy stuffs and then restake again.

In beefy, are they automatically reinvested?

How can that works anyway?

Topic: In Beefy, do you have to manually, and periodically, reinvest? (Read 65 times)