Solana Integration: Part 1- Poll

Hello Cowmunity,

Are you interested in seeing Beefy Finance on the Solana Blockchain?

The aim of this proposal is to gauge the level of interest by holders to see Beefy Finance on the Solana Blockchain. Before a full proposal is developed, I saw it as prudent to do a preliminary check before pursuing this.

1. Why Solana? With low transaction cost and high transaction throughput, Solana is rapidly becoming the blockchain of choice for DeFi and GameFi. Beefy Finance, being a yield optimizer with invaluable experience in bringing high capital efficiency and value for its users, has conquered EVM compatible chains with little competition. Now it’s time for the cows to eat glass and conquer Solana. Bulls sharpen those horns!

2. Benefits to holders? With roughly about $7.6 billion in TVL on Solana, users of the chain have little autocompounding benefit. This is where Beefy’s role as a yield optimizer that reduces exposure to reward tokens, allowing users to get more of their target tokens will come into play. Actually, this unique feature of Beefy is what reduces a lot of risks for users. Hence, Beefy will have a competitive advantage that can result in more demand for the token. With only 80,000 tokens in circulation across all the blockchain world, this is more demand for a scarce commodity.

A lot of financial innovation is happening on Solana, and Beefy holders are primed to benefit. Not only can holders benefit from the dividend aspect of the Beefy token, but with the experience of the Beefy contributors and the opportunities on Solana, a multi-faceted earning optimization can be achieved.

Here is a synapse of what I mean. Holders can stake in a Solana Maxi vault and receive mooSolBIFI. This receipt token can be used as collateral on a lending protocol such as Tulip or Solend where users will receive tumooSolBIFI or cmooSolBIFI respectfully. This tumooSolBIFI can then be staked on an options protocol such as Friktion to receive fctumooSolBIFI. Katana is an alternative options vault provided. This fctumooSolBIFI can then be used as collateral on Hubble to mint USDH. So here we see holders benefiting from dividends, interest from lending, price action and leveraging for stable coin.

Note: each earning stage after dividends exposes users to its own risks if specific parameters are breached. Alternatively, mooSolBIFI can be staked as collateral on Hubble for those who want to reduce these risks. This is the level of Capital Efficiency that Beefy can offer its holders!

3. Benefits to Beefy Finance? More holders. More users. More exposure. More TVL. More fun.

If majority of holders are interested, I will draft a proposal. Discussions will take place in discord. If you are a rust developer, feel free to jump in or DM. After we have consensus on the path, Part 2 will be launched. Full Disclosure: I am not a coder. I am a small investor. So I am open to all the help to see this come to fruition.