What Is Yield Farming?
People are betting big on crypto. And they’re not just using their own money, they’re borrowing thousands, even millions of dollars, to do it. But there aren’t any mainstream banks lending in crypto. So who’s doing the lending?
Individuals like you.
For the first time in history, anyone can be the bank and “farm the yield” that comes from it (ie. print massive amounts of digital dollars).
Yield farming is a way of earning rewards with cryptocurrency holdings. Staking or lending crypto assets within DeFi protocols to produce high returns in interest, incentives or additional cryptocurrency is known as DeFi yield farming. The term farming implies the high interest produced via the liquidity of different DeFi protocols. Along with rewards, DeFi protocols issue tokens that represent user’s share in the liquidity pool, which are moveable to other platforms for increasing their potential gains.
Yield farming is beneficial to lenders as well as borrowers. A liquidity pool can be a valuable source for borrowers looking for margin trading, while lenders can invest their idle crypto assets in their wallets to generate a passive income. In a DeFi ecosystem, yield farmer performs the role of banks to lend funds for using the tokens to yield maximum returns. The entire ecosystem runs with the help of blockchain-based smart contracts, connecting the borrowers and lenders while handling the investors’ rewards.
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