Yield farming is the process of earning rewards through staking cryptocurrencies or any other digital assets. It encourages liquidity providers to stake or lock up their crypto assets in a smart-contract-based liquidity pool. The more funds added to the liquidity pool, the higher the rewards.
As a highly ingenious application of DeFi, yield farming has gained immense popularity all across the globe. The yield farming market rose from $500 million in the initial year to $10 billion in 2020, making it the biggest driver of growth of the still-nascent DeFi sector. Contact our DeFi yield farming development company for more information about our services.