What's Yield Farming?
Yield farming, or simply farming, means that on top of a share of fee charged for every trade (0.2%), LPs get an additional reward for the very fact of locking their assets into the pool. Farming is one of the major money-making strategies in DeFi.
So, how to yield farm? Anyone can do that by following these 3 simple steps:
- Choose a farming program from the list
- Top up your wallet for the necessary amount of tokens. You can do that via Minter Console or BIP Wallet. If you have no coins on the Minter network yet, you can deposit them from Ethereum using a bridge in Minter Console (what is Minter Hub?)
- Use Minter Console to add liquidity into the pool that participates in the farming program you've picked
From now on, you'll be getting rewards to your wallet according to the terms of a selected farming program.
Alert! Before adding liquidity into the pool, make sure you fully understand the risks associated with Impermanent Loss.
This material serves educational purposes only. The information contained herewithin does not constitute an investment, financial, legal, or tax advice, and it is not an offer or solicitation to purchase or sell any financial instrument.