How Bees generate Honey (Smart Contract explained)
Every hero needs a partner in crime and so do you. You as a user are the Grizzly and your partner in crime are the Bees. They are a symbol for the Grizzly.fi Smart Contract because you live in absolute harmony with them and they do all the hard work for you. All you have to do is to sit back, relax and eat the honey the Bees are bringing to you.
The Bees have three main functions which will be explained in this article, so you know everything you need to in order to feel confident about using Grizzly.fi.
Grizzly.fi is not a DEX or Liquidity Mining platform itself. It simply acts as a hub for the best Liquidity Mining pools of other platforms. Users don’t invest in Grizzly.fi, they invest through Grizzly.fi – in a more simple and fun way. And the bees are doing a big part of this magic.
⦁ The Bees take your desired Crypto and invest them into the liquidity pool you chose.
This first task the Bees do for you makes investing into Grizzly.fi as easy as nowhere else in the DeFi space. This process converts four steps into just one, saves you a lot of time, and gives even beginners the opportunity to invest into Liquidity Mining too.
On platforms like Pancakeswap and basically all other swaps the user needs to do the following steps to invest into a liquidity pool:
- Chose Pool
- Convert 50% of initial Crypto into token A of Liquidity Pool
- Convert 50% of initial Crypto into token B of Liquidity Pool
- Buy LP Tokens
- Stake LP Tokens in farm
Imagine explaining this to a friend… You are pretty much guaranteed to explain everything again in detail and set it up for your friend.
With the “one click invest” feature of Grizzly.fi this becomes so much simpler. You can select your desired pool, choose one currency you have in your wallet and click invest. The Bees will take care of the rest.
Let’s look at what the Bees do in detail as soon as you press the invest button:
- Take your Crypto to Pancakeswap
- Exchange 50% into token A
- Exchange 50% into token B
- Go to Liquidity Pool which is on the DEX you chose
- Get LP Tokens
- Stake LP Tokens
These steps are all done automatically within seconds so you can care about the important stuff in life like finding the best performing Hive on Grizzly.fi.
⦁ The Bees make sure that you make as much money as possible by automatically reinvesting the profit.
“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” – Albert Einstein
Let’s listen to Albert and not pay the compound interest but earn it! And luckily we have Bees who do exactly that for us, so we don’t have to care about it.
The Smart Contract has an algorithm that automatically calculates the perfect number of reinvests per day to make sure the user makes the most out of his investment. By offering this auto-compounding feature Grizzly.fi can achieve higher yields.
⦁ The Bees also make sure the Honey flows in the right direction
One thing which is very special about Grizzly.fi is that you can decide to get paid in Honey or in Stable Coins.We name them as two different Strategies:
The generated rewards (the two Stable Coins) are automatically re-invested which compounds the APY of this Hive. You get HONEY tokens as an additional reward. You can use those tokens to vote, stake or sell.
The generated rewards (the two Stable Coins) are automatically being used to buy HONEY tokens on the open market and stake them in the Honeypot. This can significantly increase your rewards in comparison to the Standard Strategy.
The Honey Token is very important to the Grizzly.fi ecosystem and the Tokenomics make the token even more scarce the more people use the platform. If you believe in the long-term success of Grizzly.fi you should definitely stake your Honey Tokens to receive more of them!
To sum up, every single Grizzly receives Honey! If you’re interested in the Tokenomics of the Honey Token please click here to read more.
Now you belong to the educated Grizzlies and you know everything about the Bees, the Smart Contract of Grizzly.fi.