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  • Introduction
    • What is Silo?
  • The Silo Protocol
    • Protocol Design
      • Base and Bridge Assets
      • Silo Deployments
      • Collateral Status
      • Interest Rate Model
        • Dynamic IRM with PI Controller
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      • $XAI
      • Curve LP Markets
      • Incentives
    • Lending 101
      • The Markets
      • The Lender
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      • Liquidation
    • Risks
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      • Economic
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      • Bad Debt
      • Liquidation
    • Integrations
      • Pendle Finance
      • Contango
      • Beefy
      • Factor
  • Walkthroughs
    • Using Silo
      • Connect Wallet
      • Lending (Depositing)
      • Withdrawing
      • Borrowing
      • Repaying
    • Delegating $SILO to Vote
      • Delegate to Self
      • Delegate to Somebody Else
    • Farming with $SILO
      • LPing SILO/ETH v3 on Camelot (Arbitrum)
    • Borrowing Strategies
      • Borrow to Short
      • Borrow to Leverage
  • Yield farming opportunities
  • Oracles
  • Liquidate a position manually
  • SiloDAO
    • $SILO
      • Token Allocation and Vesting
    • Governance
    • Creating a Silo
    • Wallets and DAO Contracts
  • Security
    • Audit
    • Formal Verification
    • Bug Bounty Program
    • Smart Contracts
  • Additional Information
    • Brand Assets
    • Developer Docs
    • Submit a Bug
    • Official Channels
    • SiloDAO (Snapshot)
    • SiloDAO (Tally; On-Chain Voting)
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  • What is Beefy?
  • How does Beefy work?
  • What are the risks of using Beefy?
  1. The Silo Protocol
  2. Integrations

Beefy

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Last updated 1 year ago

What is Beefy?

Beefy is a yield optimization protocol that builds on existing DeFi protocols such as Silo to maximize rewards. This is via auto-compounding where external rewards are converted back to the principal token, increasing the user’s yield exposure.

Beefy’s vaults can be found (make sure to search for ‘Silo’ to find our markets).

How does Beefy work?

Silo provides incentives to users in the form of token rewards that must be manually claimed. This can be an inconvenient and gas-intensive process for most users.

When you deposit in a Silo Beefy vault, your deposit routes to Silo via the Beefy contracts. Beefy will automatically claim rewards and convert it back to the original token which is then redeposited.

This does two things:

  1. Removes the need for users to manually claim rewards

  2. Maximizes capital efficiency as you constantly grow your deposit size

What are the risks of using Beefy?

The primary risk of using Beefy is smart contract risk from Beefy Vaults as well as the underlying yield-bearing protocol (that’s us!). Beefy has had multiple audits including from OpenZeppelin and Certik which can be viewed .

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