The current real-time price of BEFTM is $0.0606. In the past 24 hours, BEFTM has traded between $0.0606 and $0.0668, showing strong market activity. The all-time high of BEFTM is $1.62, and the all-time low is $0.0606.
From a short-term perspective, the price change of BEFTM over the past 1 hour is , over the past 24 hours is --, and over the past 7 days is -9.36%. These figures provide a quick overview of the latest price trends and market dynamics of BEFTM on LBank.-8.76%
The live price of BEFTM today is $0.0606, with a current market cap of $0. The 24-hour trading volume is 0.192112. The price of BEFTM to USD is updated in real time.
Before deciding whether to buy or sell BEFTM, you should first consider your own trading strategy. Long-term traders and short-term traders follow different trading approaches. LBank’s BEFTM technical analysis can provide you with trading references.
What will the value be? You can use our price prediction tool to conduct short-term and long-term price forecasts for BEFTM.
How much will BEFTM be worth tomorrow, next week, or next month in ? What about your BEFTM assets in 2025, 2026, 2027, 2028, or even 10 or 20 years from now? Check now! BEFTM Price Prediction
To learn more about BEFTM, consider exploring other resources such as the whitepaper, official website, and other published information:
beFTM stands for Beefy-escrowed Fantom, a token on the Fantom network. It is fully backed 1:1 by FTM, Fantom's native token. Its main purpose is to give users access to optimized validator node rewards, which would typically require locking FTM for an entire year. This allows for greater flexibility in accessing staking rewards.
Users deposit FTM into the Beefy Delegator Vault. This FTM is then used to either mint new beFTM 1:1 or purchase it from a liquidity pool, based on the most profitable approach. The pooled FTM is delegated to Beefy's Validator Node and locked for an extended period, like 51 weeks, to earn maximum validator rewards. The Wrapped FTM (WFTM) rewards are collected and distributed daily to the beFTM Earnings Pool, where users can stake beFTM to earn WFTM.
Users can acquire beFTM by depositing FTM into the Beefy Delegator Vault, which intelligently either mints new beFTM or purchases it from a liquidity pool. Alternatively, beFTM can be manually purchased on various decentralized exchanges (DEXs) operating on the Fantom network, providing multiple avenues for users to obtain the token.
Once acquired, beFTM offers several options for generating yield. Users can stake beFTM in the beFTM Earnings Pool to receive WFTM rewards. Another option is to deposit beFTM into the beFTM Vault for compounded interest, accumulating more beFTM. Additionally, beFTM can be used to provide liquidity in beFTM-FTM pools on major decentralized exchanges on Fantom, earning rewards for liquidity provision.
Like other cryptocurrencies, beFTM carries inherent risks. While theoretically backed 1:1 by FTM, its market price is influenced by supply and demand, meaning the peg can fluctuate. Users have reported losses due to these peg fluctuations, especially with early withdrawals. Beefy Finance applies risk checklists for its vaults, assessing factors like complexity, audit status, and asset maturity to evaluate safety.
The current version of beFTM is undergoing deprecation. Following BIP-67, deposited FTM is scheduled to be unlocked by April 3, 2024. Beefy's development team is actively researching and planning a replacement V2 beFTM, anticipated for release closer to the deprecation period's end. It's noted that some underlying platforms for beFTM vaults have ceased rewarding, and the product has been deprecated, allowing for 1:1 FTM token redemption.
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