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| How to start putting your money and assets to work in yield farming platform apps
OMG! I am so dumb! I have had a number of alt coins sitting in Coinbase and Crypto.com doing absolutely nothing for most of the year (except slowly bleeding out price, LOL).
Well, it’s not that I didn’t know about yield farming. It’s just that I had become disinterested in it from the ubiquity of impermanent loss.
Well, my mind has changed from coming upon the Animal Farm on BSC.
With traditional yield farming platforms, you stake a pair of tokens with something called an LP token. And, as a reward for contributing to the liquidity of the token(s), you get paid out a yield, typically in the platform’s native token.
Here’s the difference and what changed my mind:
Typically, these types of yield farms are held on decentralized exchanges (DEX) like PancakeSwap, ApeSwap, BiSwap, or Paçoca. The native tokens are emitted constantly in every block, so what happens is that the ever-increasing circulating supply causes the token’s price to slowly but, inevitably, depreciate in price…
