Beefy's Smart Contracts are now insurable thanks to InsurAce

There’s one thing that the Beefy cow knows well, and that’s making sure your deposits are secure. It’s really our number one priority. Whenever we list a project, Beefy always commits to a thorough review of all smart contracts involved. If you can trust Beefy, you can trust the project.

Our key criteria include Certik audits, a bug bounty program with Immunefi, and a thorough analysis straight from our own talented solidity developers. We constantly improve our vaults, with efficiency, security, and reliability in mind.

We know that protecting your money and investments is of the utmost importance, that is why we've worked with InsurAce, to add another layer of protection to your trusted deposits.

What is InsurAce?

InsureAce.io is a decentralized insurance protocol operating across multiple blockchains. It provides insurance services to DeFi users to protect their investments against smart contracts risk.

InsurAce has two arms similar to a traditional insurance company: an investment arm and an insurance arm. The insurance side has a variety of reserve pools to ensure solvency for claims based on their risk. The investment side ensures gains and yields that can cover insurance claims and also attract investors to the project. Funds from the insurance pool are placed in the investment arm, which then protects users with their claims.

How does it work?

To explain how the insurance works, first we need to explain how Beefy works. In a nutshell, Beefy contracts deposit tokens on your behalf, to underlying platforms, for example Pancakeswap, TraderJoe, or Spookyswap. If one of Beefy’s smart contracts fails (for example our vault contract, or the strategy contract), and if you were paying for the coverage, InsurAce will cover your loss.

Contrarily if the smart contract that fails belongs to the underlying platform (Pancakeswap, Traderjoe, Spookyswap) your deposits won’t be covered.

What is the premium?

We've worked together with InsurAce team to guarantee some of the lowest premiums (2.9% annually) available on the market. With our Beefy custom link, you can also enjoy a 10% rebate on $INSUR tokens. Imagine that. With just a 2.6% annual fee, your funds are more SAFU than ever.