Thread by @rektdiomedes

Okay anon, if you like @beefyfinance, @FantomFDN, and degen #FrenchChart , check out this strategy!

As mentioned in my thread yesterday on '12 Reasons Beefy Finance $BIFI Is An Undervalued Gem', this is a strategy you can use to get extra high apr's with your $BIFI.

Thread:

Step One: Bridge your $BIFI to @FantomFDN chain using @AnyswapNetwork , OR, buy $BIFI on @SpookySwap or @beethoven_x .

Step Two: Deposit your $BIFI in the Beefy.Finance-Fantom "BIFI Maxi Vault".

Note: Right now... (cont.)

..the apr is kind of low, but when $FTM starts going up in price again after this dip we've had, it should be comparable to the BIFI Maxi Vaults on other chains.

Step Three: Go to @QiDaoProtocol, which recently started accepting mooBIFI receipts as collateral.

Step Four: Hit 'Create Vault', and deposit your mooBIFI receipts as collateral.

Note: What's beautiful about this is that you will continue receiving the yield from the BIFI Maxi Vault, so your collateral will grow in value even if price of $BIFI stays the same :)

Step Five: Borrow $MAI - the @QiDaoProtocol stablecoin - from the vault you created.

Now... here we branch out to two different strategies depending on your risk tolerance :)

Cont....

If you want to be #SAFU , then go back to the Beefy site on Fantom, and zap into the MAI-USDC @SpookySwap vault.

This strategy currently earns 19% APY with Beefy continually auto-compounding for you.

OR... if you want to be a bit more aggressive, then go back to @SpookySwap, swap your $MAI for $FTM and $TOMB, create a FTM-TOMB LP position, then take the LP tokens to @beefyfinance and deposit them to be auto-compounded.

This strategy... (cont.)

...yields over 1000% APY with Beefy auto-compounding, and (theoretically) should avoid impermanent loss, since the price of $TOMB is supposed to track the price of $FTM :)

This means...(cont.)

...we are earning 20% (and potentially much more) on our $BIFI, AND earning either 19% via stablecoin farming or 1000%+ via FTM-TOMB with the amount borrowed from it...

We just need to watch the price of $BIFI since it is our collateral.

Right now this general strategy is only available on Fantom, but I'm hoping @QiDaoProtocol will start accepting mooBIFI receipts as collateral on other chains as well :)

So...

In Conclusion:

If you found this thread helpful plz rt and follow! (am new to bird app and need frens! :) )

And big thanks to @beefyfinance @QiDaoProtocol and @SpookySwap for these awesome opportunities!

🙏🙏🙏🐸🐸🐸🐸🐸🐸🙏🙏🙏

h/t's:

@lemiscate the #FrenchChart og
@w3soBeefy
@0xLaoZi
@0xkila
@thebeefycow
@BeefyGear
@beefypulse
@Route2FI
@rektfoodfarmer