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Aavegotchi Launch First Week Next Year
The Tamagotchi-inspired decentralized finance game Aavegotchi is getting its main net launch on January 4th 2021. So far users have been collecting ghosts and wearable NFTs, but with the launch of the game there’s more utility coming for the cute pixelated ghosts. Aavegotchi will have its Haunt of Aavegotchi launch event on January 4th. This […]Read More -
Mobox to Combine Gaming with Decentralized Finance
The team behind the multi-blockchain mobile game Chainz Arena has announced a new platform that combines gaming with decentralized finance, and they named it Mobox. The platform has to become an easy entry for users into crypto, decentralized finance and blockchain games. They refer to this as GameFi. Mobox gives each user a wallet, which […]Read More
yield farming
What is Yield Farming?
Yield farming is the activity to optimize your crypto rewards by putting your money in the right pool. This generates certain returns in the form of additional cryptocurrencies. It’s a concept seen in every Decentralized Finance or DeFi project.
Yield farming protocols reward liquidity providers to stake and lock their crypto assets in a smart contract-based liquidity pool. For example, first users provide liquidity in the ETH-DAI pool, and then they stake their acquired ETH-DAI LP tokens in a smart contract. This will earn these users a certain token, like for example SUSHI from SushiSwap.
Yield farmers who take high risks, put their money in newly established pools in order to have the highest return on their investment, Annual Percentage Yield or APY. Users who take low risk, put their money in established projects or liquidity pools.
