Yield Farmer DAO: Binging Decentralized Farming, Liquidity Mining and Governance to Your Reach
The cryptocurrency space is interesting and it is creating more ways to accumulate wealth as compared to the other traditional stock markets. As cryptocurrency space is advancing, it is taking great steps to a way that can make it stand unique among the rest. Don’t be surprised but you have to recall that unlike other established currencies that have a lot of money in circulation, cryptocurrency has a very brilliant seal to grow.
A new currency has a good value when enough people use it but flooding the market would make it less valuable and this is not the case in cryptocurrency.
In crypto, money is secured because it is operating in a decentralized protocol. Bitcoin also made us realized this and ever since the invention of bitcoin in 2009, there has been an evolution of innovations and rebranding of the existing decentralized protocol.
There is always a get-rich scheme and market volatility in the crypto space, many investors lost several millions of dollars in 2018. All this was like a nightmare which many wish to wake up from quickly. Some hoped it never happened. But this incidence is inevitable in the crypto journey. Before those awful nightmares, many investors have the mindset to invest in a new digital coin whose price will multiply overnight but unfortunately ended up in a big loss when most of the coins crashed and burned. I happened to be a victim but it doesn’t wreck me. I stood to my feet again just like how many cryptocurrency enthusiasts did. In the process of bringing more creativity into crypto space, this is where we come across staking, yield farming, decentralized finance, and yield harvesting. And they are widely used in the cryptocurrency space. Although, initially these are somehow complex in the sight of many investors and this is what we call an advancement. In less than 11 years, much cryptocurrency space has been reshaped.
The yield harvesting is a crypto investment strategy that promised triple-digit returns. And with the much value present in decentralized financing, yield farming is becoming more viable.
The yield farming is a practice that is being adopted in DEFI which allow yield farmer to earn rewards by staking tokens i.e. ERC-20 and stablecoin in exchange to support the decentralized finance ecosystem. It involves lending and depositing of underlying crypto through a mining mechanism called liquidity mining. This is done to chase a lucrative reward. When you make a money deposit in the bank, you are obviously and effectively creating ground for a loan, for you to get interests in return. The yield farming involves the lending of cryptocurrency where in return, you get profit and fees. The real payoff advantages come if the coin appreciates rapidly. Cryptocurrency has to perform a mighty tricky balancing drama to grow.
Yield farmers need to lock their funds into a lending protocol. This protocol could be in compound finance or maker DAO. In the process, both the borrower and the lender can earn some incentive on both the compound and liquidity pool. Unlike in staking, the yield farmers usually move their asset from one lending market to another to get the highest yield. Yield farming allows earning a yield on a loan. Yield farmers can earn multiple tokens when they stack their yield and at the same time earn an incentive in their liquidity pool.
The yield farming is not performing a lone task, it usually engages the extensive participation of automated market makers, the liquid provider that add funds to the liquidity pool regularly to support the ecosystem.
YFDAO is a platform that creates an opportunity for humans to get rewarded for using cryptocurrency. YFDAO platform is designed to be monitored by the communities that are advancing with time. YFDAO has given a good impression on high and long lasting price performance, this is what is giving the users the full confidence to reinvest their rewards to compound their gains for the long term. They give anonymity priority so that the platform will not require the user to engage in a compulsory KYC registration.
YFDAO is fast developing with high accelerating speed. Token staking is considered very important and lucrative. When staking occurs, the user earns an additional vote by locking their token for a good period of 30 days with a fixed staking rate.
YFDAO has a guarantee decentralized liquidity. YFDAO will be offering liquidity mining throughout their project. YFDAO-uni-V2 token will be rewarded to the users that provided liquidity on the uniswap. This token can allow the user to earn more YFDAO token when YFDAO-uni-v2 token is being staked on YFDAO platform.
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