Compound

What is Yield Farming?

What is Yield Farming?

By Wilton Zigler What is yield farming? In decentralized finance (DeFi) yield farming is a small component of decentralized applications or (dApps) used to maximize the rate of return on your cryptocurrency using various DeFi protocols. Returns can be very lucrative, up to 1,000% APY and higher. With yield returns this high it’s not surprising that user adoption has been increasing. Here are some examples of yield farming. Lending & Borrowing Popular DeFi lending platforms such as Maker, Com…
POKKET: Crypto Market Update (Oct 4)

POKKET: Crypto Market Update (Oct 4)

Bitcoin is flat but tried to make a run for $50k overnight. ETH is relaxed at $3415. Movers are ADX +48%, AXS +22%, APPC +12%, POLY +10%, CRV +9%. DEX spot volume to CEX volumes were 6.67% for September which is a decline from August’s 7/54% according to TheBlock. Compound took another hit as someone took advantage of the drip() Compound Reservoir, sending $69M of COMP to Comptroller — four users managed to syphon $22M out of this. Community devs knew of this bug, but could not implement a fix d…