Level Up Yield Potential with Beefy Finance and Gelato's Web3 Functions

Beefy Finance is a Decentralized Finance (DeFi) Yield Optimizer platform that enables users to maximize their cryptocurrency returns. By integrating Gelato's Web3 Functions, Beefy automates two essential processes: harvesting vaults and swapping tokens to manage accrued fees.

How Beefy Uses Web3 Functions

Beefy automates two key processes:

• Harvesting Vaults: Web3 Functions identify ready-to-harvest strategies and trigger the corresponding contract method to execute harvests.

• Swapping Tokens: By monitoring token balances through the 1inch API, Web3 Functions execute token swaps once balances and outputs meet predefined thresholds.

Integrations

The integration of Gelato's Web3 Functions streamlines harvesting and fee management across Beefy’s strategies:

• Token Swapping: Web3 Functions continuously monitor balances and fetch quotes from 1inch. When a balance meets minimum input and the swap output exceeds the threshold, the function executes swaps on-chain automatically.

• Harvesting: Web3 Functions automate calls to harvestMultiple(), which harvests multiple strategies in a single transaction. The function verifies harvester settings, checks which strategies are ready, ensures gas prices are acceptable, and prepares the necessary calldata to run the harvest.

This automation makes yield optimization more efficient and convenient for Beefy users.

Customer Review

Weso, Lead Developer & Head of Strategic Partnerships at Beefy Finance, on Gelato’s Web3 Functions:

"Gelato's Web3 Functions enable our smart contracts to become smarter by combining the power of automation and the ability to access external data. With Web3 Functions we can create more powerful products and also eliminate tedious operational tasks."

By integrating Gelato’s Web3 Functions, Beefy automates critical processes, enhancing efficiency and user experience.

About Gelato’s Web3 Functions

Web3 Functions empower developers to build serverless, decentralized applications with ease by bridging smart contracts and off-chain data. They enable robust, scalable automation across web3 ecosystems.

About Gelato

Gelato is a Web3 Cloud Platform empowering developers to create automated, gasless, and off-chain-aware Layer 2 chains and smart contracts. Over 400 web3 projects have relied on Gelato to execute millions of transactions across DeFi, NFTs, and gaming.

• Gelato RaaS: Deploy your own tailor-made ZK or OP L2 chains in a single click with native Account Abstraction and built-in Gelato middleware.

• Web3 Functions: Connect smart contracts to off-chain data & computation through decentralized cloud functions.

• Automate: Automate smart contracts with reliable, decentralized execution.

• Relay: Enable secure, scalable gasless transactions with a simple API.

• Account Abstraction SDK: Built with Safe, combining Gelato’s gasless transaction capabilities with the most secure smart contract wallet.

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