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Beefy v1

Beefy v1

BIFIV1
$2.6473Up 0.81 percent($0.02)

Key Stats

Market Cap$164.77KUp 0.81 percent
Fully Diluted Value$164.77K
Total Supply62.24K BIFIV1
Max Supply∞
Launch Date2020-09-20
Built OnBNB
Token StandardBEP20
Smart Contract Address0xCa3F…190A
Decimal Places18

Beefy v1 Information

Websites
beefy.finance
Industries
Governance
Parent Asset
BIFI

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Beefy v1BIFIV1
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Trading AsToken StandardBuilt OnSmart Contract AddressLaunch Date
BIFIBEP20BNB0xCa3F508B8e4Dd382eE878A314789373D80A5190A2020-09-20

About Beefy v1

Beefy v1 (BIFIV1) was the original governance token of Beefy Finance, launched on the Binance Smart Chain in September 2020. It enabled holders to participate in governance and earn revenue shares. In 2023, the token migrated to the Ethereum network to improve platform mechanisms, completing the process by October 24, 2024.

Frequently Asked Questions

Beefy v1 (BIFIV1) refers to the initial version of Beefy Finance's governance token, originally known as BIFI. Launched in September 2020 on the Binance Smart Chain (BSC), BIFI served as the platform's native governance token, enabling holders to participate in decision-making processes within the Beefy Finance ecosystem.

The primary functions of BIFI included:

  • Governance: BIFI holders could vote on proposals affecting the platform's development and operations, thereby influencing the project's direction.
  • Revenue Sharing: Staking BIFI tokens allowed holders to earn a share of the platform's profits, distributed as rewards in various cryptocurrencies.

Beefy Finance was developed by an anonymous team of developers who launched the platform in September 2020. The decision to remain anonymous was intended to focus attention on the product rather than individual team members.

In 2023, Beefy Finance initiated a migration of the BIFI token from the Binance Smart Chain to the Ethereum network. This move aimed to enhance the platform's governance, revenue, and incentive distribution mechanisms, reducing reliance on the Multichain protocol. The migration process was completed by October 24, 2024, after which unclaimed BIFI tokens were transferred to the DAO treasury.