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The ORBS-BUSD Pool on Pancakeswap Was Added By Beefy Finance

Thu, 07/08/2021 - 00:57
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Alihuseyn Gulu-Zada
The ORBS-BUSD Pool Has Been Added To Beefy Finance's Active Vaults
The ORBS-BUSD Pool on Pancakeswap Was Added By Beefy Finance
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The ORBS-BUSD pool on PancakeSwap has been added to Beefy Finance's active vaults. The corresponding announcement appeared on the platform's official website.

Beefy Finance is a revolutionary decentralized platform. This protocol is one of the leading in the world and has a multi-chain structure. These chains also include BSC. Beefy Finance is designed to optimize returns, through which users are given the opportunity to earn compound cryptocurrency interest.

Beefy Finance is a software program that uses an automated method to maximize the profitability of liquidity pools. Token compounding is the name given to this procedure. It happens by awarding the yield farm, which is a field where tokens are sent to the user's deposited asset. This reduces transaction costs, saves time, and reduces mistakes.

In addition, the user can withdraw the money at any time. Beefy Finance locks his/her assets in his/her vault. Nevertheless, elementary security measures should also be observed and to try to avoid risky transactions. This particularly applies to working with third-party technologies.

Beefy Finance's vaults should be given their own location. Vaults are a type of investment vehicle. They employ automated techniques to boost returns and ensure that money is continuously invested and reinvested. This, in turn, aids in the attainment of high interest rates.

Liquidity pool vaults (LPs) - such as Orbs - function by reinvesting. Participants in the LP amass them. Beefy Finance, in turn, receives these incentives on a regular basis through additional sales and purchases the underlying LP assets. The cycle is subsequently completed through reinvestment. The "compounding effect" is achieved in this way.

It's worth noting that when a user deposits money in the Beefy Finance vault, they're issued MooTokens as a receipt. To withdraw tokens from the vault for further redemption of deposited tokens with yield, receipts (mooTokens) are required.

Users are required to maintain their mooTokens (aka deposit receipts). Unauthorized parties should not sell or trade these tokens. In this situation, they run the danger of losing control of their vaulted assets.

Finally, integrating ORBS-BUSD on Beefy Finance is a ground-breaking and intelligent concept that benefits the Orbs community. It provides the community with new prospects in the future!

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About the author

Alihuseyn graduated from Yale University with a focus on linguistics and philosophy. He has worked as a journalist-analyst for Trend News Agency. At the same time, he is an academically trained singer (baritone) and a composer. Alihuseyn has been involved in cryptocurrency and blockchain since 2017 and is an enthusiast in this field, considering blockchain technology revolutionary and capable of changing society. In this area, he has written several theoretical and analytical pieces.