Beefy-escrowed Sonic

BES

​Beefy-escrowed Sonic (beS) is a liquid-staking token developed by Beefy Finance to integrate with the Sonic blockchain ecosystem. It allows users to stake wrapped Sonic (wS) tokens and receive beS tokens in return, which represent their staked position and accrue staking rewards over time. This mechanism enables users to benefit from Sonic's staking rewards while maintaining liquidity through the transferable beS tokens. Upon depositing wS tokens into the beS smart contract, these tokens are automatically staked on the Sonic network. The staking rewards generated are periodically harvested and redistributed to beS holders. This process is automated to occur at least every 24 hours, ensuring that rewards are efficiently managed and distributed. The beS token is yield-bearing, meaning holders receive staking rewards without needing to take additional actions.