What is DeFi? What is Yield Farming?

Actually the market will get excited with any new acronym, like ICO, DEX, IEO…and now DeFi as long as it gives them an excuse to profit from speculation.

It’s not necessarily a scam or a bad thing in itself, it’s just possibilities of what decentralised blockchain technology can offer, but nobody actually cares.

Usually the questions go like this:
Wow, from 1 to 100 in 1 day? Am I still in time to catch the wave? How much have you earn profited? Why didn’t you share this thing with me earlier? Which is the similar stuff I can buy in now?

And not like this:
How does it operate? How does the economics work? What are the potential risks? What are the weaknesses? Where can I learn more about it?

So, there you go.

What is Yield Farming? DeFi’s Hot Trend, Explained

If you’ve paid attention to what everyone in crypto is talking about, you would have heard of something called DeFi – decentralized finance. Ironically, it looks more like traditional banking than anything crypto has come up with. But it’s nothing like traditional banking. Now that DeFi has taken off, there’s a new set of jargon to master. We explain what “yield farming” and this other buzzword, “liquidity mining,” mean and how people are making money in DeFi. 👆

Posted by CoinDesk on Wednesday, September 9, 2020
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