Beefy Finance Tutorial (Best Yield Farming Optimizer) #Finance

in this CashNews.co i’m going to show you how to use beefy Finance beefy is a cross-chain Yield optimizer this means that you can actually use

it across all of the major blockchains to search for and then go ahead and get the best Yields in d5 it basically automates some strategies and makes it very easy in a kind of one-click way for you to do this so i’m going to go over exactly how the platform works how i use it

and some of the things that you should be really aware of when you’re using it because high apy doesn’t necessarily mean a good thing so i’m going to go through all of the strategies that i personally use on this platform how to use it and then actually how to go ahead and enter

into some of these trades i’ll leave the timestamps for this CashNews.co down in the description alongside some other helpful CashNews.cos and resources so check those out but what we need to do is come to launch app on the top right hand corner and it will take you through to here you

don’t need to choose the chain right now and you can do that in the actual application itself so obviously if i click here you can see all of the different chains up here this is just some information on the platform itself but we’re gonna go ahead and connect our wallets if you come up

to the top right you can obviously click on connect wallet right here choose from all of these i’m gonna connect metamask so it does that automatically so i’m going to bring up my metamask right here if you need to actually change chains and so let’s say right now i’m in my

metamask the on pneumatic network come up to your metamask open it up and then click one of the networks that you want to open and use with beefy you’re going to have to use a few if you want to get the best results so for example if i choose avalanche network and click on that you’ll

see that i’ve changed it in my metamask and it’s also changed up here in the top and we’re now on avax i can click this again and then go back to you know whatever network that i want and it’s going to change right in the beefy app so we’ll go back to matic network and

it changes in the app so you don’t have to change to look around but if you want to go through with one of these strategies on one of these chains obviously that has to be in your metamask if you want to know how to add all of these chains to your metamask i’ll leave that metamask

CashNews.co in the description otherwise you can just search and google how to add polygon to metamask and it’s a very simple process once you’ve added all of those chains onto your metamask you can then use them directly um with beefy as well i’m going to very quickly show you

how to search for stable coin pools to see how much Yield you can get on those if you want to earn on your stable coins and then on some other tokens as well um to see what Yields you can get on tokens that you hold anyway so the first thing we want to do is

actually look around at how to search you can see all the chains right here so i’ve got them all on at the moment or you can just choose the ones that you want to actually go ahead and use and then come down here to see the different type of strategies that you can use so i’m going to

click on stable coins right here and then i can very simply search um either by the token so maybe i want usdt pairs or something like that or i can just simply sort by the the apy i’m going to click on this and then look at the tvl so i’m going to click tvl and this shows me the the

pairs with the highest tvl so 37.46 million in tvl this is obviously a big pair and you can see the chain is avalanche and the platform is curved so very trustworthy and this is obviously a big pair the apy um isn’t huge you can see three and a half percent apy um that’s because

it’s a very large you know trading pool and so obviously with Liquidity and and the size the apy does come down a little bit because there’s obviously more competition um lowering Yields but you can you can see different Yields right

here so what i would want to do is obviously sort by search by the highest um apy and that’s going to show me the highest Yield as an annualized Yield that i can get now you obviously want to search now from the top down in terms of what coins that you

actually want to hold so you know do i want to earn 20 Yield on japanese yen i don’t want to hold yen so i’m gonna obviously skip that one come down to what i would want to hold which is a us dollar stable coin so if we come down to this one right here on the left hand

side i’ve got the chain avalanche happy to use avalanche big chain and the platform is curve Finance again happy to use that it’s a you know very robust um

exchange and decks so that Liquidity pool would be fine for me die usdc usdt happy holding those uh my a little bit less so it’s a little bit newer and um you know a little bit strange in the way that that stable coin works but you’re getting 11 and a half percent as a

Yield here which is obviously very very very good and the tvl is is decent as well so that’s obviously a big pair but coming down if you didn’t want to use my you know just keep searching down until you get a Liquidity pool that you’re happy using

so if we come down here i can see two Liquidity pools usdc and usdc.e they’re just two types of token on the avalanche network the platform is trader joe and avalanche so very happy using both of those and then usdt and usdt.e again would be happy using either of uh you know

these pools and the apy on those is almost eight percent on each so that’s how i would filter down you know by the coins that i actually want to hold the chain and the platform as long as all those three are very good and satisfy me in terms of their security and everything then just choose

the highest api right here so you’re getting really really good apy on those stable coins um and you know you can just go from there before i show you step by step how to actually enter into these strategies i’ll quickly show you how i look for the best Yields for risk

Assets as well so non-stable coin pairs and there’s definitely a lot to go through here in terms of um just choosing choosing the right kind of Liquidity pool to actually enter into so i’m going to come out of stable coins and i’m going to go to

all and then i’ll search for tokens that i have anyway so in this instance i’m going to search for matic i have matic and i want to earn extra on my matic you know can i earn extra in these Liquidity pools versus just staking it so what you can see here is yes

definitely you can see this is a massive apy it’s 635 percent it’s obviously mad but looking at this token pair this is something that i don’t want to hold now this goes into something called impermanent loss which is something you need to know of if you’re using

Liquidity pools impermanent loss essentially happens when you have two tokens that are risk Assets that can change in price from when you put your coins into the Liquidity pool to when you take them out and essentially the more the price moves the

more you’re going to lose with impermanent loss so this apy right here even though it says six three four percent which is crazy this is obviously commensurate commensurate to the amount of risk that you’re taking with having a loss from impermanent loss because this must token you know

don’t want to hold that right so you can also see on the right hand side this this Liquidity pool the tvl is 26 000 right which is very very small so you’ve got a small a liquid pair and a risky token versus matic so i wouldn’t want this now you might want to put

a little bit in but the amount that you can really put in is so small anyway that the apy just doesn’t really work out so what i’m going to do is um you know if you want to know about impermanent loss i have two CashNews.cos on it that really go through it in my you know

href="https://cashnews.co/crypto" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Crypto investor course so i’ll link this in the description i’ve got like 20 plus CashNews.cos on d5 and how i use d5 to earn extra Income in a way that you know

isn’t exposing myself to a ton of risk you can definitely earn extra Income so i’ll leave this link in the description you have all these CashNews.cos on d5 that goes through it and really explains everything plus other you know CashNews.cos on investing trading putting

a Portfolio together got private discord groups and you can see my strategies and everything like that as well so i’ll link it in the description but you know as i come down here book don’t want this token hi apy but that’s for a reason so i’m going to come

down here and see if i can search for a pair that i’d be happy holding ethematic possibly a really good apy here and so that’s a definitely a more robust pair and as i come down here this is really one that i want to see here so matic x and matic matic x and matic are one for one in

terms of um their their value right so they’re going to be the same price and so you don’t suffer from a permanent loss so what essentially i’m doing here is taking advantage of a Liquidity pool and other people’s trades and fees and incentives and i will be

holding essentially matic so the exposure that i get is having matic and i have that anyway so i’m not going to be you know winning or losing anything here you can see on the left on the right hand side the apy of 36.5 which is brilliant now i know from um you know research that this

Yield is essentially here for a short term incentive because this is a new token pair on quick swap um so this apy will go down but for now what i’m essentially i’m getting is a really high apy on tokens that i would be holding anyway so i’m going to show you step

by step how to enter into a strategy like this what tokens you’d need and then the steps you need to go through so what beefy do is basically simplify all of this into one click um so we’re going to go to the matic x matic lp pair so click on this tvl on this strategy is a million

dollars pretty good and the apy 36 and a half percent on the right-hand side you can see harvest last harvest five minutes ago so what they do is take everyone’s money which is about 865 000 worth and put it into this strategy where they put the value of those tokens in a pool they get

incentives from it they sell those incentives back into the pool and then kind of compound the interest over the reason why people use this because they don’t want to go through those steps themselves and actually beefy um benefit from economies of scale with doing this with a million dollars

versus a thousand bucks or something like that um so what you need to do on the left-hand side is obviously look at the safety score and you can see this is 9.0 very low or zero expected component loss because matic matic xmatic are the same um and then the platform is audited and has a known

record so that’s obviously fine by me and then you can actually come and see the strategy breakdown here which is pretty good so you can see what they do the vault deposits the matic x matic lp it then earns the platform’s governance token that’s an incentive

Yield that the the the dex pays um they what they do then is then take that and swap it into more of the strategy so i’ll explain exactly how that works right here so very quickly what um what happens is matic x is a token um that’s issued by stata who essentially stake

uh polygon matic and then give you the Yields from that so what you can do is go on to quick swap and get matic x token you then put that onto matic x in a 50 50 ratio so you have 50 matic x which is the staking token and 50 matic which is the normal token you then obviously add

them into the Liquidity pools on quick swap to earn other people’s trading fees you get an lp token right here that is obviously showing you how much you know you have of these tokens and that lp token at the moment anyway is getting an incentive Yield to

incentivize people to use this Liquidity pair and you’re getting that incentive in quick swap token um now that’s quite a high Yield but you don’t want quick swap token you want matic token because otherwise you have exposure to this asset which

you don’t want so what you do is you sell this quick swap token and you just put it back into this strategy of 5050 matic x and matic and then it goes around in a circle and you’re essentially using the incentives to increase your position in matic now that takes a lot of transactions

and if you have like you know four dollars of this then a transaction on them on the polygon train is going to eat away at your your Income so what beefy do is just aggregate everyone’s Liquidity and do this over and over on a much you know uh higher amount

of tvl so they spread out the cost so that’s exactly what they do so what i’m going to do is come over to deposit and as you can see here i’ve got my matic uh linked up so if i open my metamask just make sure that i’m on the matic network you can see i’ve got some

matic here and i’ve got some rapsmatic in the um the wallet as well and it shows me here so you’re going to need one of these tokens either wrappedmatic or matic whatev whichever one you want to use so if i click wrapmatic then i want to go ahead and press max and you can see i’ve

got 4.06 here now what what it’s going to do it’s going to sell half of this so that i have half in matic and half in matic x it’s then going to receive those lp tokens it’s going to deposit those lp tokens into the vault and get those rewards from quick swap and then um

it’s going to return any trace amounts of matti into my wallet because it’s going to go through a few different transactions right here so what you want to do is just press deposit all this is known as a zap transaction because it’s going to go through with a few different

transactions in one but really the end result is that you are going to get a beefy lp token so that will be a beefy lp token in your matic wallet in metamask and that will show you how much of this pool that you have and how much of the Yields that you you know you have access to

so that’s really it so if you just go to deposit all like this metamask is going to come up you can see that right here go ahead and obviously pay that fee on the matic network i’m going to just reject this because i don’t want to go through with that but it’s literally that

simple and they’re going to be taking four and a half percent as a performance fee but other than that you’ve got basically all of your fees reduced and a lot of the complexity reduced as well you don’t have to use beefy to do this strategy you can do it yourself manually as well

but obviously there’s some you know considerations here if you want to do it manually go to quick swap yourself which is the decks on polygon get your matic tokens swap them into matic x 5050 you’d then get um those tokens and then you’d need to put them into the

Liquidity pool so you’d need to add your Liquidity here you can do that then you need to get the quick swap lp tokens go over to lp mining or dual mining put the lp tokens in here and then harvest the quick rewards which is the dex token and then put them

back into matic matic x the problem is if you have a small amount those fees are going to be eating up a lot of the percent of your Yield which is why beefy is you know reducing the fees and the complexity and taking their four and a half percent now if you’re happy um with

what you’ve done and you want to take your your Liquidity out and you want to get your matic back you can do that so come to the vault again and then just go to withdraw on the right hand side and then what you can see is that i’ve actually got somatic matic x lp tokens

right here and i’ve actually got them in my wallet so what i’m going to do is go to my metamask and show you i have down at the bottom the moo quick matic token and that is essentially the lp token that i’ve got for beefy so it shows me that i’m using the vault so

you’ve got that here and you obviously want to swap that back into let’s say matic token to kind of withdraw your tokens from matic or from beefy so come to withdraw and then you can see what’s deposited right here um so i’ve got those lp tokens i can click max and then come

down and withdraw all and that will be basically taken out into the matic token for me so my metamask will have those matic tokens plus the interest i’ve earned back in my wallet if you want to learn more about d5 getting the best Yields and how to make sure that you’re

actively managing everything the Crypto investor course has 20 plus CashNews.cos on d5 and i do add more over time plus you know how to kind of think about managing your

Portfolio over time i’m also in the private discord groups here from the course as well i’m showing you what i’m doing and where i’m moving each of the coins to make sure i’m getting the best Yield so i’ll leave that linked in

the description i’m james with money cheers for watching and i’ll see you in the next one