Beefy Finance launched on BNB Chain in 2020 and successfully migrated to Ethereum in 2023 after the Multichain collapse. Today, the platform operates across 22 different blockchains.
BNB Chain and the Birth of Beefy Finance
Beefy Finance debuted when high Ethereum fees pushed yield farmers to seek alternatives. The platform introduced specialized vaults that automatically compounded rewards from PancakeSwap, enhancing user efficiency. The launch of the $BIFI token with a limited supply was crucial to its success. In 2021, $BIFI entered PancakeSwap’s Syrup Pool, boosting the platform’s popularity.
The Ethereum Migration After Multichain's Collapse
Expanding beyond BNB Chain, Beefy faced challenges with Multichain in 2023, prompting the migration of $BIFI to Ethereum. This move ensured the platform's security and stability. The migration led to significant ecosystem changes, such as altered reward systems and the introduction of MooBIFI on Ethereum.
2025's Strategic Initiatives and Growth
In 2025, Beefy Finance continues to showcase adaptability and innovation in the DeFi space. The platform launched the SafeBoost initiative on Gnosis and new vaults on the BNB Chain. Expansion across 22 blockchains and development of over 20 new vault strategies underscore the platform's maturity and complexity, reinforcing its leadership in yield optimization.
Since its launch in 2020 on the BNB Chain, Beefy Finance has navigated the evolving DeFi landscape by using multichain strategies and community-driven initiatives. The 2023 Ethereum migration and subsequent expansion to 22 blockchains illustrate the platform's ability to meet user needs in an ever-changing DeFi environment.
