The DeFi boom crypto investors experienced during the summer of 2020 completely revitalized the market. Furthermore, it removed any bearish fear that investors previously had, ensuring them that cryptocurrencies are finally ready for another bull market.
The complete market reconstruction was made possible by groundbreaking yield farming platforms which turned liquidity into the ‘rocket fuel of DeFi.’ In this article, we will show some of the most compelling yield farming platforms that completely changed the scene.
According to DeFi data aggregator DeFi pulse, yield farmers locked $9 billion worth of collateral at the end of August. On June 1, DeFi only had $1.05 billion in locked assets, resulting in a 757% increase in mere 3 months.
As platforms constantly evolve and deliver new structures for reward distribution and at times even governance, it is hard to keep track of them. Sometimes investors even tend to miss out on worthwhile chances because the market is overcrowded. Despite this, there still are LP platforms that every farmer should have heard of.
Various pros and cons define each yield farming platform and none is yet perfect. With that in mind, knowing the platform you choose is the first step towards being a profitable farmer. Luckily, we created a list of five leading projects that every yield farmer should know.
Anyswap represents a newly launched open-source decentralized cross-chain swap protocol. The platform is based on Fusion’s Decentralized Control Rights Management technology (DCRM) and offers token swaps on any blockchain that adopts