Yield Farming: The Next Big Thing in DeFi?
Is Yield Farming the Rocket Fuel of DeFi?
Primarily built on the Ethereum network, Decentralized finance (DeFi) applications provide users with traditional financial services but in a decentralized, borderless manner that enables anyone across the globe to gain access to financial products and services so long as they have access to the internet. Over the past month, DeFi protocols have skyrocketed passing $3B in Total Value Locked (TVL). With DeFi gaining increased momentum, novel financial strategies and ideas are emerging in the space, with one prime example — yield farming — as a true testament to this.
Cultivating Bountiful Crops
Deemed as the latest craze in the Cryptoverse, yield farming is the process of earning a return on capital by putting it to productive use. Although still recent, yield farming is a new take on a process that has been going on for some time now with the first generation of money markets in the DeFi space.
Our guest speaker, Aaron Boyd from Pretoria Research Lab, dives into the concept of yield farming, what it is, and how it works. Tune in for more!
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