A plain-English guide to Beefy Finance, the multi-chain yield optimizer behind auto-compounding vaults. It covers how the vaults work, what mooTokens are, what Beefy charges, how its Risk Checklist works, the BIFI token, what its vaults paid on November 10, 2026 and how it compares with Yearn and Convex.
Key takeaways
- On November 10, 2026, Beefy held $94 million in total value locked (TVL), per DefiLlama, against $195 million for Yearn and $492 million for Convex. Its API listed 357 active standard vaults and 485 CLM vaults on 14 networks.
- Beefy's USDC vault on Morpho showed 5.09% APY that day (30-day average 5.63%), net of fees. Rates are variable: check the live figure.
- Most Beefy vaults (355 of 357) take a 9.5% performance fee on harvested rewards. There is no deposit fee, and only 9 vaults charge a withdrawal fee (up to 0.1%).
- A Beefy vault adds a layer on top of another protocol, so you carry the risks of both: smart contract bugs, impermanent loss on LP vaults and falling reward emissions.
¿Qué es Beefy Finance?
Beefy Finance is a decentralized, multi-chain yield optimizer. It lets crypto holders earn compound interest on their assets through automated vault strategies. Beefy launched in September 2020 on BNB Chain (then Binance Smart Chain), per its documentation, and was live on 10 blockchains by the end of 2022. On November 10, 2026, Beefy's public API listed active vaults on 14 networks, and DefiLlama put its TVL at $94 million, of which $44 million on Ethereum and $15 million on Base.
Beefy solves a practical problem in yield farming: compounding takes work and costs gas. When you deposit tokens into a farm or liquidity pool, you earn rewards over time. To grow your position faster, you have to harvest those rewards and re-deposit them, again and again. Beefy automates that loop with smart contracts called vaults.
Beefy is self-custodial. Your deposit sits in the vault contract, not with a company, and the Beefy docs state that funds are never locked: you can withdraw from a vault at any time. The protocol is governed by BIFI token holders, and the vault and strategy contracts are open source and verifiable on-chain (see Sources).
Cómo funciona Beefy Finance
The mechanism is simple. When you deposit tokens into a Beefy vault, a strategy contract puts them to work in one specific place: a farm, a liquidity pool or a lending market on that chain. The strategy then harvests the rewards and reinvests them, so your balance compounds.
For example, Beefy's USDT-WBTC-WETH vault on Ethereum deposits Curve liquidity provider (LP) tokens into Convex, harvests the CRV and CVX rewards, swaps them into more LP tokens and re-deposits them. On November 10, 2026, it held $9 million and showed 3.52% APY (30-day average 5.39%), per DefiLlama. You do not have to do anything. Many vaults harvest on every deposit; others are harvested by keepers or by any user who calls the harvest function, per the Beefy docs.
Frequent compounding turns a farm's annual percentage rate (APR, the simple rate) into a higher annual percentage yield (APY, the compounded rate). At today's stablecoin rates the gain is small: as arithmetic, a 5% APR compounded daily gives 5.13% APY. The gap grows with the rate and matters most on volatile, high-reward farms. See what APY means in crypto for the formula.
El ciclo de auto‑capitalización
Depósito
You deposit tokens (LP tokens, single assets or stablecoins) into a Beefy vault.
Granja
The vault deploys your assets into the target farm or lending protocol to earn rewards.
Cosecha
The strategy collects the accrued rewards and swaps them into the vault's deposit token.
Compuesto
The converted tokens are re-deposited into the farm, so your principal and future rewards grow.
Entendiendo mooTokens
When you deposit into a Beefy vault, you receive mooTokens (for example mooAaveUSDC) in return. These receipt tokens represent your share of the vault. As the vault compounds, each mooToken can be redeemed for a growing amount of the underlying asset. You do not claim rewards separately: the growth is built into the mooToken's exchange rate, per the Beefy docs.
To exit, you withdraw from the vault. Your mooTokens are burned and you receive your deposit plus the compounded earnings. Beefy vaults have no lock-up period, so you can withdraw at any time.
Características clave de Beefy Finance
What distinguishes Beefy from other yield optimizers.
Soporte multicanal
On November 10, 2026, Beefy had active vaults on 14 networks, led by Base, Ethereum, Arbitrum, Monad, Robinhood Chain, Optimism and BNB Chain, per its API. You can farm on the chain where your assets already are, without bridging to one network. Chains are added and retired over time: DefiLlama has tracked Beefy deposits on 42 networks, 22 of which still held more than $1,000.
Auto-Compounding
The core feature. Beefy vaults harvest farming rewards and reinvest them into the same strategy, often several times a day. This turns the farm's APR into a higher APY without any action from you.
Optimización de gas
A vault pools deposits from many users, so one harvest transaction compounds for everyone. Instead of each user paying gas to harvest and re-deposit, the cost is shared. This makes frequent compounding worthwhile even for small positions.
Código abierto
Beefy's vault and strategy contracts are published on GitHub, and its audit reports are in a public repository (see Sources). Anyone can read the logic, check what a vault does with deposits and confirm the fee settings on-chain.
Risk Checklist
Beefy assesses every vault against a published matrix of risk factors. Since an update at the end of 2025, the app shows them as a Risk Checklist: by default it lists only the checks a vault fails, marked with a red cross, and you open "Other checks" to see the ones it passed, per the Beefy docs. Beefy itself says the checklist is an aid to due diligence, not an endorsement.
Gobernanza Comunitaria
BIFI holders vote on proposals through Snapshot, one vote per token (see Sources). Topics include treasury use, new chain deployments and fee changes: the 9.5% fee cap now applied to most vaults was approved in proposal BIP:45. Day-to-day operations are run by contributors, and larger decisions go to a vote.
Cofres de Beefy explicados
Vaults are the building blocks of Beefy. Each vault runs one strategy on one farm, liquidity pool or lending market. Knowing the vault types helps you pick strategies that match your risk tolerance.
Every vault page shows the current APY, the TVL, the underlying platform (for example Morpho, Aave, Curve or Convex), the chain, the Risk Checklist, the fees and the contract addresses. The APY shown is net of Beefy's performance fee, per the Beefy docs. The largest Beefy vaults on Ethereum on November 10, 2026, per DefiLlama:
| Vault (Ethereum) | Underlying platform | Depósitos | APY on November 10, 2026 | 30-day average |
|---|---|---|---|---|
| USDT-WBTC-WETH | Curve LP staked on Convex | $9 million | 3.52% | 5.39% |
| USDC | Morpho vault | $3 million | 5.09% | 5.63% |
| BIFI (revenue-sharing vault) | Beefy | $3 million | 8.16% | 12.45% |
| RLUSD-USDC | Curve | $3 million | 4.29% | 5.11% |
Tipos de bóvedas Beefy
Bóvedas de un solo activo
Deposit one token (such as USDC, ETH or a wrapped BTC) and earn yield from a lending protocol or a staking mechanism. Because you hold one asset, there is no impermanent loss. Many of Beefy's USDC vaults on Ethereum now sit on curated Morpho vaults.
Bóvedas LP (Proveedor de Liquidez)
Deposit LP tokens from a decentralized exchange such as Curve, Uniswap or Balancer, or staked through Convex or Stake DAO. These vaults compound trading fees and farming rewards. They can show a higher APY but carry impermanent loss. Beefy's CLM product (Cowcentrated Liquidity Manager) does the same for concentrated liquidity positions, per the Beefy docs.
Bóvedas de stablecoin
Single-asset and LP vaults that hold only stablecoins. They suit conservative strategies that want yield on dollar-pegged assets. A stablecoin-to-stablecoin LP vault has little impermanent loss, as long as both coins hold their peg.
Bóvedas potenciadas
Some vaults pay extra "boost" rewards on top of the strategy yield. These come from partner protocols or from Beefy's own incentive programmes and usually run for a limited time. The vault page shows when a boost is active.
Reading the Risk Checklist
The checklist groups the risk factors Beefy checks on every product. The full definitions are in the Risk Checklist page of the Beefy docs (see Sources). In practice, they fall into three groups:
Cómo usar Beefy Finance
Here is how to deposit into your first Beefy vault. You need a Web3 wallet and some of the network's gas token for transaction fees.
Configura una cartera Web3
You need a wallet to interact with Beefy. MetaMask is the most common choice (see our MetaMask guide); Beefy also supports WalletConnect-compatible wallets such as Rabby, Trust Wallet and Coinbase Wallet. Switch the wallet to the chain you want to farm on (for example Base, Arbitrum or Ethereum).
Tip: If you are new, start on a low-gas network such as Base or Arbitrum to keep transaction costs small while you learn.
Open app.beefy.com
Go to the official Beefy app and connect your wallet. The dashboard lists every vault, and you can filter by chain, asset type, platform and APY. Use the search bar to find vaults for a specific token.
Tip: Check that you are on the official domain and bookmark it. Phishing sites copy DeFi front ends. Our guide on how to protect your crypto covers the basics.
Elige una bóveda
Pick a vault that matches your plan. Look at the APY and its 30-day history, the underlying assets, the Risk Checklist and the TVL. For a first deposit, a stablecoin single-asset vault on an established lending protocol is a conservative choice.
Consejo: Abre la página de la bóveda para leer la descripción de la estrategia, ver la configuración de comisiones y comprobar las direcciones de los contratos.
Deposite sus tokens
Enter the amount and confirm the transaction. For an LP vault, you normally provide liquidity on the underlying exchange first to get LP tokens, then deposit those. Many vaults offer a "Zap" option that takes a single token and converts it into the required LP pair in one step; it costs 0.05% of the amount zapped, per the Beefy docs.
Tip: A first deposit takes two transactions: an approval (allowing the vault contract to move your tokens) and the deposit itself. Later deposits need only the deposit transaction.
Monitor and Withdraw
Once deposited, the vault compounds on its own. You can follow your position on the Beefy dashboard or in a portfolio tracker such as DeBank or Zapper that recognises mooTokens.
Tip: To withdraw, click "Withdraw" on the vault page, enter the amount and confirm. Vaults have no lock-up. Any withdrawal fee (up to 0.1% on the few vaults that charge one) is shown on the vault page before you confirm.
El token BIFI
BIFI is Beefy's governance token. Its supply is fixed at 80,000 tokens, per the Beefy docs, and it is used to vote on proposals and to receive a share of protocol revenue. On November 10, 2026, BIFI traded at $58.42, for a market capitalization of $5 million, far below its all-time high of $4,116.95 in March 2021, per CoinGecko.
The token launched with the protocol in September 2020: 72,000 BIFI went to the community and 8,000 were locked for the founding team, and all 80,000 have been in circulation since July 2022. After the failure of the Multichain bridge in July 2023, BIFI moved to a new contract on Ethereum (proposal BIP:71) that minted the whole supply at once and has no minting function, per the Beefy docs. Bridged versions on other chains use Beefy's token bridge.
Resumen de Tokenómica
Utilidad BIFI
Estructura de tarifas
Beefy charges no deposit fee. It earns through a performance fee taken from harvested rewards, so it only earns when the vault earns. On November 10, 2026, 355 of the 357 active standard vaults charged 9.5%, the maximum introduced by proposal BIP:45, per Beefy's fee API; older vaults used a lower split (3.0% to BIFI holders, 0.5% to the treasury, 0.5% to the strategist, 0.05% to the harvest caller), per the Beefy docs. 9 vaults, mostly those that do not harvest on deposit, also charged a withdrawal fee of up to 0.1%, which stays in the vault for the other depositors. The Zap tool adds 0.05% when you zap in or out. The APY shown in the app is already net of the performance fee. DefiLlama recorded $80,179 in fees for Beefy over the 30 days to November 10, 2026.
Riesgos y Consideraciones
Beefy has operated since 2020, but every DeFi activity carries risk. Understand these before you commit capital to any vault.
Riesgo de contrato inteligente
A Beefy vault touches several layers of code: Beefy's vault and strategy contracts, plus the underlying protocol (for example Morpho, Curve or Convex). A bug in any layer can lose funds. Beefy's docs list more than a dozen audits across its products, including four of the core vault and strategy contracts (DeFiYield, CertiK) and four of CLM (Zellic, Cyfrin, Certora, Sherlock), and an Immunefi bug bounty since July 2021. No code is guaranteed bug-free, and the more protocols a strategy uses, the larger the attack surface.
Pérdida impermanente
LP vaults with two volatile assets are exposed to impermanent loss. If the price ratio between the two tokens moves a lot, you can end up with less value than if you had held the tokens. Auto-compounding adds yield that may offset part of the loss, but it does not remove it. For lower risk, look at stablecoin-only LP vaults or single-asset vaults. Our guide to liquidity pools explains the mechanics.
Riesgo de Estrategia Subyacente
Each vault depends on an underlying protocol for its yield. If that protocol is exploited, suffers a governance attack or holds a stablecoin that loses its peg, the vault's deposits are affected. Reward emissions can also be cut, which lowers the APY: the USDT-WBTC-WETH vault showed 3.52% on November 10, 2026 against a 30-day average of 5.39%. Beefy's Risk Checklist flags some of these factors, but research the underlying protocol yourself.
Riesgo de mercado & regulatorio
Crypto prices are volatile, and a token can fall further than any yield you earn on it. Rules for DeFi also differ by country and keep changing. Check your local regulations and tax obligations before using Beefy or any DeFi protocol.
Mitigación de riesgos
- Spread deposits across vaults and chains rather than putting everything in one strategy.
- Start with vaults that fail few or no checks on the Risk Checklist until you understand the risk factors.
- Compare the current APY with the 30-day average: a large gap often means temporary rewards.
- Only deposit what you can afford to lose. DeFi yields are never guaranteed.
- Check your positions regularly and follow protocol updates on Beefy's official channels.
Beefy vs Yearn vs Convex
Beefy's closest competitors are Yearn, the first yield aggregator, and Convex, which boosts rewards on Curve and Frax liquidity. The first table gives, for each one, the TVL, the number of networks, the fees recorded by DefiLlama over 30 days, a representative stablecoin vault with its APY on November 10, 2026 and its 30-day average, the fee charged on yield, custody and lock-up. For the wider choice of stablecoin products, see our Stablecoin Yield Guide.
How We Compared
Each platform is described on the same criteria: size, reach, fees, a representative stablecoin rate, custody and lock-up. Third-party figures come from DefiLlama on November 10, 2026, Beefy's and Yearn's public APIs and each project's documentation (see Sources). Coinstancy publishes this guide and is listed first because it is our product, not because of an independent ranking.
| Plataforma | TVL | Networks (DefiLlama) | Fees, 30 days | Stablecoin example | APY on November 10, 2026 | 30-day average | Fee on yield | Custody / lock-up |
|---|---|---|---|---|---|---|---|---|
| Coinstancy Dollar Savings (our product) | No aplicable | No aplicable | No aplicable | USDC | 7.50% (fixed rate currently in force, may be revised) | 7.50% | Included in the rate | Custodial (Coinstancy multisig) / none, $10 minimum |
| Beefy | $94 million | 42 (22 above $1,000) | $80,179 | USDC vault on Morpho (Ethereum) | 5.09% | 5.63% | 9.5% of harvested rewards (most vaults) | Self-custody / none |
| Yearn | $195 million | 7 | $624,521 | USDC-1 yVault (Ethereum) | 4.26% | 3.70% | 10% of profits, 0% management (this vault) | Self-custody / none |
| Convex | $492 million | 4 (98.6% of TVL on Ethereum) | $2 million | USDC-crvUSD Curve pool (Ethereum) | 4.36% | 5.72% | 17% of CRV rewards | Self-custody / none for LP staking |
Same Pool, Different Wrappers
Because Beefy often builds on Curve and Convex, you can compare the same liquidity through each layer. The figures below are from DefiLlama on November 10, 2026. They are not computed in exactly the same way: Beefy reports a compounded vault APY net of its fee, while DefiLlama's Convex figures count the CRV and CVX rewards. Treat the gaps as indicative.
| Pool (Ethereum) | Through | Depósitos | APY on November 10, 2026 | 30-day average |
|---|---|---|---|---|
| RLUSD-USDC | Beefy vault | $3 million | 4.29% | 5.11% |
| RLUSD-USDC | Convex | $14 million | 4.22% | 2.07% |
| RLUSD-USDC | Curve directly | Not shown | 3.99% | 4.90% |
| USDT-WBTC-WETH | Beefy vault (on Convex) | $9 million | 3.52% | 5.39% |
| USDT-WBTC-WETH | Convex | $12 million | 1.21% | 4.13% |
| USDC lending | Beefy vault (on Morpho) | $3 million | 5.09% | 5.63% |
| USDC lending | Morpho, Steakhouse USDC vault | Not shown | 4.80% | 4.95% |
The Beefy USDC vault and the Steakhouse vault are not necessarily allocated to the same Morpho markets, so the comparison shows the range of Morpho-based USDC rates rather than the cost of the Beefy layer.
Features at a Glance
| Característica | Beefy | Yearn | Convex |
|---|---|---|---|
| What it does | Auto-compounds one farm per vault | Vaults that allocate across several strategies | Boosts and pays out Curve, Frax and FX Protocol rewards |
| Main networks | Base, Ethereum, Arbitrum and others | Ethereum, then Katana and Base | Ethereum |
| Deposit fee | Ninguno | Ninguno | Ninguno |
| Withdrawal fee | None on most vaults, up to 0.1% on 9 | None on the USDC-1 vault | None for LP staking |
| Fee on yield | 9.5% on most vaults | Set per vault (10% on USDC-1); older V2 vaults could add a 2% management fee | 17% of CRV rewards |
| Governance token supply | 80,000 BIFI | 36,666 YFI | 100 million CVX (maximum) |
| Rewards compounded for you | Sí | Sí | No, rewards are claimed |
| Open-source | Sí | Sí | Sí |
Diferencias clave
Beefy vs Yearn: Yearn holds about twice Beefy's TVL and earned $624,521 in fees over 30 days against $80,179 for Beefy, per DefiLlama. Its vaults tend to spread one asset across several strategies, and most of its deposits are on Ethereum. On USDC that day, Yearn's USDC-1 vault showed 4.26% against 5.09% for Beefy's Morpho USDC vault. Beefy's strengths are its reach across networks and its large number of single-strategy vaults; its fee on yield is lower in rate (9.5% against 10%), and both figures are already deducted from the APY shown.
Beefy vs Convex: Convex is the largest of the three, at $492 million, but it does one job: it lets Curve and Frax liquidity providers earn boosted rewards without locking CRV themselves, and pays those rewards out for you to claim. Beefy builds on top of it: several Beefy vaults stake Curve LP tokens on Convex and compound the rewards automatically. Using Convex directly saves the Beefy fee but leaves you to claim, swap and re-deposit.
Other optimizers: Autofarm, another multi-chain optimizer that started on BNB Chain, held $6 million across 20 networks on November 10, 2026, per DefiLlama, a small fraction of Beefy's size.
Preguntas frecuentes
¿Qué es Beefy Finance?
What APY do Beefy vaults pay today?
How much does Beefy charge?
¿Es seguro usar Beefy Finance?
¿Cómo funciona el auto‑compounding de Beefy?
¿Para qué se utiliza el token BIFI?
¿Qué cadenas admite Beefy Finance?
How does Beefy compare to Yearn and Convex?
Lectura relacionada
More on DeFi yield and the strategies Beefy vaults build on.
¿Qué es Yield Farming?
The basics of DeFi yield farming: how it works, the main strategies and the risks to watch for.
The Complete Guide to Morpho
How the lending markets and curated vaults behind many Beefy USDC vaults work, with current rates.
Guía de Rendimiento de Stablecoin
De dónde proviene el rendimiento de las stablecoins y cómo comparar plataformas, estrategias y riesgos en paralelo.
Fuentes y lecturas adicionales
Las cifras y afirmaciones de esta página se basan en los documentos que aparecen a continuación. Las cifras sensibles al tiempo (tasas, rendimientos, comisiones, datos de mercado) cambian: verifica el valor en vivo en la fuente antes de actuar en consecuencia.
- Documentación de Beefydocs.beefy.finance
How vaults, strategies, mooTokens, harvesting on deposit, Zap and CLM work; Beefy's launch in September 2020 and its history.
- Beefy Fees Breakdowndocs.beefy.finance
The performance fee split, the 9.5% maximum introduced by BIP:45, the withdrawal fee of up to 0.1% and the 0.05% Zap fee.
- Beefy docs, $BIFI Tokendocs.beefy.finance
The fixed 80,000 BIFI supply, the community and team allocation, full distribution in July 2022 and the 2023 migration to Ethereum.
- Beefy docs, Risk Checklistdocs.beefy.finance
The risk factors checked on every vault and how the app displays them (January 2026 update).
- Beefy docs, Audits & Bountydocs.beefy.finance
The list of audits by product and auditor, the Sherlock CLM contest and the Immunefi bug bounty.
- Beefy public APIapi.beefy.finance
Active standard vaults (/vaults), CLM vaults (/cow-vaults), networks and per-vault fees (/fees) on November 10, 2026.
- Aplicación de Beefyapp.beefy.com
Live per-vault APY, TVL, fees, Risk Checklist and contract addresses.
- Beefy contracts repository (GitHub)github.com
Source code of the vault and strategy contracts.
- Beefy audit reports (GitHub)github.com
The full reports of the audits listed in the Beefy docs.
- Beefy governance on Snapshotsnapshot.org
Governance proposals voted on by BIFI holders, including BIP:45 (fee structure) and BIP:71 (BIFI migration).
- DefiLlama, Beefydefillama.com
Beefy TVL, TVL by network and networks tracked on November 10, 2026; Yearn, Convex and Autofarm figures from the same dataset.
- DefiLlama, Yieldsdefillama.com
APYs, 30-day averages and deposits of the Beefy, Yearn, Convex, Curve and Morpho pools quoted on this page (snapshot of November 10, 2026).
- DefiLlama, Feesdefillama.com
Fees recorded for Beefy, Yearn and Convex over the 30 days to November 10, 2026.
- CoinGecko, BIFIcoingecko.com
BIFI price, market capitalization and all-time high on November 10, 2026.
- Yearn documentationdocs.yearn.fi
How Yearn vaults and their fees work, the 2% management fee of V2 vaults and the 36,666 YFI supply.
- Yearn vault API (yDaemon)ydaemon.yearn.fi
Deposits and fees of the Yearn USDC-1 yVault on November 10, 2026.
- Convex documentation, Feesdocs.convexfinance.com
The 17% fee on CRV rewards and its split; the CVX tokenomics page gives the 100 million maximum supply.
Last reviewed: November 2026. External links open in a new tab; Coinstancy is not responsible for their content.
¿Listo para obtener rendimiento en tu cripto?
Beefy vaults suit people who want to pick and monitor DeFi strategies themselves. Coinstancy Dollar Savings, our product, is a simpler alternative: 7.50% APY on USDC, a fixed rate currently in force that may be revised.
Coinstancy is custodial: your USDC first enters a multisignature wallet operated by Coinstancy before being deployed into on-chain strategies. There is no lock-up, withdrawals are normally settled within 48 calendar hours and the minimum deposit is $10. Your balance is not FDIC insured, and like any yield product it carries risk.