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Apart from investing in currencies in the crypto market, there are many more ways to make money, such as Cloud Mining, Buy and HOLD, Crypto Lending, Stake Your Crypto, Yield Farming etc. However, risk is highly existent in each financial market, whether you invest or do Yield farming.
Mostly investors invest their money for the long-term view and they still want some extra return from their investment. For that, Yield Farming is a highly favorable strategy in 2023 where you can bank your crypto asset in a pool with other cryptocurrency users.
Uniswap (UNI) is a world-famous decentralized exchange that allows earn, swap and its structured on the crypto trading protocol. Investors can make extra profit by earning rewards through Uniswap’s liquidity pool. Notably, they offer crypto holders to earn nearly 10% APR returns on their long-term investments. The total market capitalization is present at $3.8 Billion.
AAVE is the second largest decentralized finance protocol, existing at #44 rank as per Coinmarketcap. In terms of Yield farming token, it’s second largest Yield Farming token along with $762 million market capitalization. Holders earn interest on their huge investment by depositing assets into a liquidity pool. Earn interest on AAVE is nearly 0.01% to 15% APR.
panecakeSwap is a decentralized crypto exchange launched in September FY2020. Its native token is CAKE, which allows users to exchange their crypto tokens. As per Coinmarketcap it’s third largest Yield farming cryptocurrency which provides APY returns of 8% to 250%. Its overall market capitalization is $510.8 Million.
Synthetix is basically a decentralized exchange (DEX) standing on top fourth yield farming token as per the current market cap of $354 Million. Its deep liquidity and low fees influence crypto enthusiasts. It provides nearly 34% APY in SNX, which is higher but risk also matters a lot here.
For stablecoins, Curve is preferred as a favorable decentralized exchange which was initiated in January 2020. It uses the automated maker market (AMM) to maintain liquidity in the market. Its market live capitalization is $267 Million, hence its top fifty position in the yield Farming token category.
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