YIELD FARMING PLATFORMS- A WAY OF EARNING PASSIVE INCOME
Tags: Cryptocurrency, Defi, Passive Income, Defi Yield Protocol, Yield Farming

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Hey! Have you ever heard of yield farming? I think you probably have come across a geek who is wearing a pair of glasses, holding an Android phone or sitting in front of a desktop and talking about interest generated from his money stored somewhere online. That is definitely what I am talking about.

You are probably here because you may be looking for a yield farming platform to invest in and maximise passive incomes generated from the yield farming, right?! Yes, you’re just at the right spot.

Well, I am here to talk about yield farming, which is a way to earn passive income from your cryptocurrency (digital asset) token.

At its deepest level, yield farming is a process that allows cryptocurrency holders to earn interests on their holdings by locking their digital assets on a platform for a fixed period of time. What it basically means is, with yield farming, an investor (lender) lends by depositing units of a cryptocurrency token(s) into a lending protocol through a platform to earn interest from trading fees. Also, depending on the conditions and yield farming platform strategy, the users (investors) are also rewarded with additional yields from the platform protocol’s governance token.

To simplify things well, yield farming works like bank loans. But, in this situation, there is no bank because you are the bank.

www.stably.io

Yes! You are the lender as well. Lending your tokens to a platform will allow the platform move your assets around through different marketplace to maximise returns using a secret and complicated algorithm. But the good thing about this is that you’ll be getting interest shares from it. Now, we know that in yield farming you can make money from loaning cryptocurrency token(s) to people usually through a platform for a period of time. And after this specific period of time has expired, you get interests based on the units borrowed and the period of time between its borrowing and repayment dates. Yield farming strategies are complex and implemented by smart contracts.

Yield farming platform is a platform that works on the principle above. This platform maximises yield farmers interest by moving investors fund between strategic and profitable marketplace. They’re many yield farming platform out there, with great returns, but we’ll consider only one. No doubt, identifying the right and secured platform may be challenging even for new investors, but I have simplified and chosen just the best platform among thousands in terms of yield rewards type and annual percentage yield (APY) return on investment.

The best and leading yield farming platform we shall consider here, in terms of rewards and APY is: DeFi Yield Protocol Platform.

DeFi Yield Protocol (DYP) Yield Farming Platform

About DeFi Yield Protocol (DYP)

cointelegraph

DeFi Yield Protocol ($DYP) is a unique platform backed by an Ethereum mining rig (with 65- 150 ETH /month mined), a unique anti- (‘’whales”) manipulation feature and use case products such as the Decentralised DYP Tools

>Earn Vaults

>Governance

>Non- fungible tokens (NFT)

>Yield farming for miners and staking

>Bridging

>Ethereum mining pool

>Liquidity mining pool

>Referral and many other great products, just to mention a few.

The project was launched on 20th December, 2020 and since then DeFi Yield Protocol ($DYP) have journeyed out with a mission to offering optimal solution to yield farming, staking and simplifying the decentralised finance (defi) ecosystem with its powerful product like the DYP Tool which provides advanced features, such as Decentralized Score, Unique Community Trust Vote System, DYP Locker, Yield Farm Data, and LaunchPad, allowing investors to make informed decisions that maximize yields and reduce risks for all DeFi users. This tool one of the core features of the DYP in its journey to becoming the hub of the DeFi space.

DeFi Yield Protocol Yield Farming and Staking

dyp.finance

DeFi Yield Protocol (DYP) made history by been the first and only yield farming platform to offer and reward yield farmers in Ethereum. Ever since then, the platform have expanded to other chains and now offering yield rewards payable in Binance and Avax in addition to the Ethereum rewards. That is, users get to choose and receive farm yield rewards in Ethereum, Binance, Avax or the native token- DYP, depending on the farming pool.

So far, over 8,614 ETH, 5,633 BNB, and 3,568 AVAX worth $20,419,839 have been paid to the Liquidity providers, and liquidity pools APY as high as up to 475.51% currently (as at time of writing this article.)

dyp.finance

How to Earn Using the DeFi Yield Protocol Yield Farming Platform.

Fortunately, DeFi Yield Protocol (DYP) allows anyone to provide liquidity and start earning yield rewards distributed every 24hrs to yield farmers.

To provide liquidity, users need to deposits their liquidity provider tokens from uniswap, pancakeswap v1 or pangolin into the corresponding list of farming pools.

Each pool offers different yields and rewards options depending on the lock-time and token pairs deposited. Currently, DeFi Yield Protocol ($DYP) yield farming platform is fully integrated across Ethereum, Binance smart chain and Avalanche networks. The pools pairs varies depending on networks been used.

dyp.finance

ETH Farm Yield Pools

Users can deposit the following pairs to earn ETH and DYP rewards:

>DYP-ETH

>DYP-USDC

>DYP-WBTC

>DYP-USDT

BSc Farm Yield Pools

Users can deposit the following pairs to earn ETH/BNB/DYP rewards:

>DYP-WBNB

>DYP-ETH

>DYP-BUSD

AVAX Farm Yield Pools

Users can deposit the following pairs to earn WAVAX/ETH/DYP rewards:

>DYP-AVAX

Users yield rewards earned depends on the pool’s share percentage, liquidity amount provided and the APY.

The rationale behind this yield farming and rewards by DeFi Yield Protocol ($DYP) is interesting and same time, the best so far in the DeFi ecosystem. Each pool of the pools are allocated fixed DYP monthly rewards which are automatically converted every 24hrs and distributed to yield farmers in Ethereum, Binance and Avax with a slippage of -2.5% In order to lower the risk of DYP price volatility, and maintain token price stability.

dyp.finance

If the price is affected by more than -2.5% then only the maximum DYP rewards which does not affect the price is converted with the rest distributed with next day rewards, else after 7 days, DYP through governance can vote to burn, distribute, create new pool or whatever with the undistributed yield rewards. Good enough, all token holders can vote.

For detailed explanations and tutorial about the how and steps of the yield farming process please refer to the official medium handle of DeFi Yield Protocol here

Definitely, earning passive income have not been any easier than with the DYP yield farming platform which minimises the risks involved in yield farming by paying yield rewards in Ethereum, Avax, Binance and DYP with best APY. Also, DYP is especially an interesting asset since it provides a vast array of options to make it easy for investors to farm.

In short, DeFi Yield Protocol yield farming platform is basically a money mine.

If you are interested in knowing more about the DeFi yield farming platform, you can check out the company’s official website below.

http://dyp.finance.com

For other yield farming platforms, you can track them using the decentralised DYP Tools dashboard.