Beefy
BIFI
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Beefy (BIFI) demonstrates solid technical fundamentals, characterized by a clean security record, continuous development, multiple reputable audits (Zellic, OpenZeppelin, Cyfrin, Certora, Sherlock), and robust, non-inflationary tokenomics featuring a hard-capped supply of 80,000 tokens with completed vesting. Its core utility is directly tied to automated yield-compounding fees via revenue-sharing mechanisms. However, the asset is severely constrained by market performance and low liquidity, having sustained an approximate 99% drawdown from its all-time high, alongside a modest on-chain market capitalization (~$4M) and thin trading volume. Governance is functional via Snapshot, though reliance on a pseudonymous team and a small holder base presents centralization risks. No qualifying red-flag events were established; the Security section score was internally capped under section-specific price drawdown rules, which do not trigger an overall score cap. The overall score represents the weighted average across all evaluated sections.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Beefy (BIFI)
Beefy (BIFI) is the native governance and revenue-sharing token for Beefy Finance, a multichain automated yield-optimization protocol. The protocol operates vaults that automate the compounding of yield farming rewards across various decentralized finance ecosystems. BIFI features a hard-capped maximum supply of 80,000 tokens with zero ongoing inflation, no active mint or burn functions, and an ownership key that was burned after launch. Team vesting was completed in 2022. Token holders can participate in protocol fee distribution by staking BIFI into designated vaults and pools, as well as vote on governance proposals via Snapshot.
The protocol's security framework includes a history of external smart contract audits conducted by multiple security firms, including OpenZeppelin, Zellic, CertiK, Cyfrin, Certora, Sherlock, and Electisec, alongside a dedicated audit of the BIFI token contract itself in August 2023. Beefy also maintains an active bug bounty program on Immunefi. While Beefy's core contracts have not experienced a direct exploit, the protocol faced third-party ecosystem challenges, such as the 2023 Multichain bridge disruption that required bridge migrations, and a February 2022 exploit of Grim Finance, an external protocol utilizing a fork of Beefy's codebase.
BIFI has experienced severe market contraction, suffering an unrecovered price drawdown of approximately 98.75% to 99% from its all-time high. The token operates with a low market capitalization of roughly $3 million to $4.1 million and thin daily trading volume ranging between $1,000 and $22,000. Additionally, the project relies on a pseudonymous core contributor team and maintains a small holder base of approximately 2,240 holders, which presents liquidity constraints and potential governance concentration risks.