I will show you how to invest on OXD-USDC Liquidity Pair on Beefy.Finance and Earn 2.62 Million APY. In beta.Beefy.finance you can see all the extremely high yield liquidity pools by different chains. As you can see pFTM-FTM LP provides ultra yield of 77.22Q APY or 9.49% daily APY. Grape-MIM LP provides 338.9 Million APY on Avalaunch chain. You can sort liquidity providers by Blue chip meaning major crypto like ETH, BNB, LINK, YFI, and SUSHI. Also able to sort APY by Stablecoins USDC, MAI, MIM, USDT, DAI, IRON, BUSD and even national currencies like JJPY, JCAD, and EURt.
How to Buy Fantom Tokens
First, In order to participate Defi investing, you need to purchase Fantom tokens. I would buy Bitcoin from App like Strike with no fee just under $100 buy spread between market price of Bitcoin and buy price of bitcoin. Send it to a great exchange like CoinEx without any transaction fees because Strike App uses Bitcoin lightining network with zero transaction fees. Use those Bitcoins to buy Fantom tokens. CoinEx withdrawal fee for Fantom tokens is like 0.02 Fantom. It is like $0.04 at current price of Fantom at $2. Send those Fantom tokens to MetaMask Wallet. You need to create a MetaMask Wallet. Easiest is to install MetaMask Chrome Extension wallet. I will provide links to it. You need to setup seed phrase and never share that will anyone. I mean never! You can also install Metamask android and IOS app as well for extra safety to confirm your seed phrase is correct before you send funds to it.
Second, You need to buy Fantom token from a centralized exchange. I use coinex.com because withdrawal fees are 0.01 Fantom and trading fees are very low as well. I will provide a link below to Coinex exchange as well. Withdraw this Fantom to the MetaMask Wallet address. Click the copy button and copy the wallet address. Go back to Coinex withdrawal tab and past the address. Since you are withdrawing to private self custordy wallet, you do not need a memo. Click null. Click Submit and enter the 2FA code provided by Authenticator app. Confirm your withdrawal and your funds will arrive in few minutes. If you do not see your funds in a few minutes reflesh the MetaMask app.
Swaping Fantom Tokens for USDC and OXD Token
I used the official SpookySwap to swap Fantom (FTM) Tokens to USDC and OXD tokens. Go to spookyswap.finance/swap and connect your metamast wallet to swap out Fantom tokens for USDC. At the shooting of this video, 1 Fantom token is around 2 USDC. I paid little less than $1 (0.4 FTM tokens) for Swap fees from FTM to USDC and OXD swaps each.
How to Deposit USDC and OXD Token
As of shooting this video, in Fantom network USDC and OXD has a APY return of 1.2M%. That is correct 1.2 M APY.
After you connect your MetaMast wallet, select how much you want to deposit. In my example I invested $500 for this demonstration. You need to Click approve first with Fantom gas fee that is under few US cents. After this approved, you need to click Approve and pay Gas with Fantom that is less than 0.25 FTM tokens. You can use similar way to withdraw funds later from Beefy Finance network.
Summary,
Beefy Finance provide great APY other chains besides Fantom. I do not provide any investment advice because I am not a licensed investment advisor. Take following advice as information only. They offer great APY on BSC, Heco, Avalaunche, Polygon, Harmony, Arbitrum, Celo, Moonriver, cronos, fuse, metis, and Aurora. I find Fantom APY is the highest. In cello cUSD-USDC LP stable coin pair was offering 15.7% APY. That is risk free defi investing as it gets. On BSC, DIBS-BNP is a great pair. On Avax, Grape-MIM LP is great pair to invest at 25.28 M APY. On Arbitrum there is MIM/USDC/USDT LP with 19.4% APY. For all stable coins LP pair it is a great risk free defi investment. I have no risk by staking on both stable coin pool other than smart contract exploits on SpookySwap (for Fantom) or TraderJoe (for Avax) defi exchanges. Always refer to www.defisafety.com/pqrs to evaluate smart contract risk to your Defi exchange of choice.
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Time Stamp:
00:00 Beefy Defi Gem
00:53 What is Beefy Finance
02:06 Yield Optimize in Beefy Finance
03:26 Vaults in Beefy Finance
05:34 Buy FTM on CoinEX
07:10 Swap FTM to USDC and OXD
07:46 Liquidity Provider on Beefy Finance
08:31 Risk and Rewards on Beefy Fiance DEX
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