Disclaimer: Your funds are your responsibility. All information in this article is reflecting my own investing strategy and should not be taken as financial advice.
I have to admit that I almost missed the liquidity farming event on BeeSwap. Thanks to this post from 
Interface
User experience is on the top of my list of priorities when it comes to defi. It's cool that we can all farm free coins just because we got into web 3.0 early but it really sucks that we can't find an easy way to explain this simple concept to our friends and family. Without a great UX you can expect an increase in demand so I'm glad to say that BeeSwap did a great job on this front.
If you are a DeFi user on EVM compatible chains you are used to the functionalities almost all AMM platforms adopted from the start. BeeSwap obviously had this in mind because you can finally perform automated swaps without the need to understand how order books work. It is like LeoDex but much more noob-friendly.
Functionality
A great interface is awesome to have but it should always be accompanied with equally great functionality. As far as I am concerned, BeeSwap works flawlessly. If you use it with Keychain you will find that it is also a lot easier to navigate than when farming with your Metamask wallet.
Thanks to the speed of the Hive blockchain you will even be performing actions a lot faster than on any other EVM chain.
Rewards
For those that are still not in the know, BeeSwap is rewarding liquidity providers with very significant APR numbers.
You can find all of those numbers here and if you decide to start farming on BeeSwap the process is completely the same as on every other DeFi protocol but with a few less steps.
Once you deposit liquidity for a pair you won't get LP tokens that you then have to put into a farming contract. As soon as you add liquidity you become eligible for the farming rewards for that pair.
Thanks to the very simple UI you will be able to find out exactly how much you will earn and how much you have staked in the pool by selecting "your positions" from the navigation bar.
Farming rewards are distributed in BXT tokens that can be staked on the platform for additional Hive rewards. More information about the token can be found in the whitepaper.
Farming Strategy
Depending on your holdings you should first choose which pool is best for you. I'm personally long-term bullish on Hive and Matic so I have chosen to participate in that pool and possibly bear the consequence of impermanent loss. If Hive keeps going up like crazy there is no APR that will cover the profits you are missing on the upside.
That is why your farming stack should be aligned with your short-term and long-term plans. If you are only interested in accumulating Hive missing out on 200-300% APR may not be that big of a deal.
On the other hand, if you have some liquid Hive that is ready for some farming BXT is a great opportunity because there are two ways you can handle your rewards.
Those that start with small stacks may consider selling their BXT rewards to add even more tokens to the liquidity pool and possibly increase their future BXT rewards. Once satisfied with the size of your LP consider holding on to the BXT tokens you farmed because they can be staked on the platform for about 160% APR.
BXT staking distributes rewards in Hive so there is a lot of room for creating a strategy. Judging by the current situation, I would assume that the best path to stake all BXT rewards and not convert them as soon as possible. They allow users to accumulate BXT while getting free Hive at the same time which creates exposure to two assets with a lot of upside potential.
Jerry rating 9/10
From a simple farmer's perspective, BeeSwap is a dream come true for Hive holders. There is no need to go outside of the ecosystem if you don't feel the need to. BeeSwap could have easily been a 10/10 platform but the fact that it can't be decentralized makes it fall into the "CeDeFi" category.
I'll end this first look article with a quote from the article I linked above.
As
the creator will say, this app as most of hive apps is centralized ... so NFA :)