If you are passionate about finance or just getting into it, you have often heard that a big APY is good. But for sure, you have also wondered what an APY is.
The annual percentage yield (APY) is the real return on investment, taking compounding interest into account.
While investing, APY is quite essential when choosing an option. So, iBeeFinance is launching Blind Mining very soon, which will give vault users an extremely high APY.
Not only is the name attractive, but also how it works. Let’s buzz ahead together and find out more about this tempting launch!
How Blind Mining works?
iBeeFinance is the next-generation yield optimizer protocol on Binance Smart Chain with an innovative vault system. It comes with a new innovative concept called Blind Mining.
How does it work? Well, here is an illustration:
- Eth should be deposited in the auto-compounding Eth vault.
- Observe how your Eth rewards are increasing.
- Calculate the amount of ‘Cake’ you can harvest each week automatically.
- After the launch of the iBee token, you will receive iBee prizes.
What happens after you join Blind Mining? All vaults will pay various coins as a reward during the Blind Mining period. However, the iBee token will not be paid out until the formal launch. You will not receive iBee tips after the token launch if you withdraw before the Blind Mining period ends. But you will continue to receive prizes for reaching the term as a bonus.
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Another advantage is that you will not experience any impermanent loss during this time because vaults are all single-asset vaults.
There will be no more LPs that expose you to temporary loss.
Also, keep in mind that your deposit amount will determine the size of your airdrop.
iBeeFinance – on the market since 2017
The iBeeFinance team has been in Crypto since 2017. iBeeFinance is a single asset yield optimizer platform that allows users to increase their yield farming revenue securely and straightforwardly.
In addition to all the benefits, iBee shows its longevity in the market through other aspects. iBee Finance works with well-known token vaults, such as Alpaca, BUSD, USDT, BTC, and ETH.
Part of the reason behind the high APY on iBee is the compounding effect. To reap the full benefit, you will need to have the patience to stake your crypto assets on a long-term basis, sit back and let the time do the work - making your money grow exponentially over time!
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The contract automatically reinvests regularly according to the strategy suggested, thereby simplifying operations for users. The platform will pay transaction fees generated by reinvestment, saving the user's expenditure.
Kepp in contact
The Blind Mining launch will be updated on the official iBeeFinanace’s website. Keep an eye on it and on their social-media activity, following them on Twitter or Telegram!