Yield farming is the latest craze in crypto and is the key reason behind the DeFi explosion going on right now, So what exactly is it? Well, yield farming entails lending crypto to earn more crypto. It is a break from the past where to make money in crypto, you either had to HODL or trade on price movements speculation. Essentially, a yield farmer will look for DeFi pools that offer the highest lending rates and lend with the aim of maximizing their crypto holding as much as possible.
Sounds too complicated? If you are a newbie in the DeFi space, you are probably wondering what is yield and how farming relates to crypto, right? To understand farming, you need to relate it to a bank account.
When you open a bank account and save money, you expect a return on your savings since the bank uses your money to earn through lending. The interest the bank pays is your yield. It is the same with DeFi yield farming. The only difference is that unlike conventional banking economics, DeFi is trustless. When farming cryptocurrency, you overcollaterize, meaning that the platform does not need to do KYC. Your wallet represents you instead of your name.
Yield farming is an expression used by many DeFi enthusiasts to define a process of acquiring more cryptocurrency by making the one you hold “work”. Nevertheless, this is only a broad explanation of this DeFi-related phenomenon. If we want to get really acquainted with yield farming, we’re going to have to dig much deeper into the matter. Yield farming is an effort of exploring and moving a certain cryptocurrency to protocols with the best APY (annual percentage yield) on a weekly or even more frequent basis. If those protocols are liquidity pools, then a crypto holder receives rewards in return for providing liquidity to the ecosystem. If a farmer receives additional coins besides the reward in tokens he invested, the process is called liquidity mining.
Yield farming, in a way, resembles investing in traditional funds. However, while a traditional investor doesn’t switch from one fund to another so frequently, a yield farmer does it very often, looking for the best opportunities. Most of the already established DeFi protocols suitable for yield farming are leaning on the power of the Ethereum or Tron network. However, they are all mutually detached and it is a highly time-consuming task determining which one of the protocols is currently the best yield farming option.
IFY Finance is an automated DeFi investment service platform that will allow users to earn yields across a variety of DeFi products in a risk/reward optimized way. It aims to bring more users to the DeFi landscape by making yield farming easily accessible to users. Yield farming today presents users with a high barrier-to-entry, cost, and risk. IFY Finance solves these pain points by giving users a low-cost frictionless way to pool their liquidity and allocate it across a portfolio of strategies. By pooling liquidity, the platform routes the funds in one transaction to the largest and greatest yield farming strategy, thereby saving gas fees for users. The platform launch is planned for December.
IFY is part of the larger trend of decentralized finance: an industry that is focused on building decentralized financial instruments on top of existing smart-contract-enabled cryptocurrencies. These instruments include cryptocurrency lending, insurance, decentralized exchanges, and other use cases. IFY farming smart-contract offers latest-and-greatest yield farming strategies by continuously routing your funds to a portfolio that best suits.
Yield farmers only require to deposit their crypto using our smart-contract, then iFarming handles everything it takes to get the highest yield earning in the market.
Liquidity providers earn standard rewards in addition to bonus IFY reward.
Crypto investment involves high risk, however, we are continuously building a strategic framework to cut down these risks and adjusting investment liquidity distribution to keep users earning the highest yield.
Easy farming by holding or trading limited edition Non-Fungible tokens (NFT) issued by iFarming and air-dropped to the community. Users can get these NFT in auction or airdrop. We use OpenSea API SDK.
IFY ecosystem is fully community-owned. Users can propose and vote on any system parameter. Users are incentivized with the IFY governance token to keep strategy models up-to-date with the latest DeFi developments.
Buy Back & Burn
Token price stability is a major concern in most DeFi projects, therefore, we prioritize buyback and burn IFY to make the price highly stable, secure, and simple for day to investors.
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