YieldFarming

What is Yield Farming? #shorts

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Transcript:
What is Yield Farming?
Yield farming, also known as liquidity mining, lets you make more crypto with your crypto.
First, you deposit crypto into a liquidity pool.
This pool helps create a marketplace where users can lend, borrow or exchange tokens, paying a fee in return.
This fee is then paid out to you based on your share of the pool.
Some platforms, especially new ones trying to attract users and activity, pay high yields for farming.
But yield farming comes with its risks. It requires a lot of capital, mostly attracting whales, and the underlying smart contracts are vulnerable to bugs.

Yield farmers use some popular platforms, like Compound Finance, an algorithmic money market, MakerDAO, a decentralized credit platform, Aave, a protocol for lending and borrowing, and Uniswap, a DEX or decentralized exchange for token swaps.

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