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Decentralized finance has opened the door to many new opportunities that were previously impossible and easily accessible to everyone. Not only can it make the world of banking and finance more accessible, but it can also provide profitability and profitability that the average Joe and Jane couldn’t believe they could achieve. One of them is yield farming, and today we will look at the farms with the highest APY yields and see what they have to offer.
What is yield farming that you may be wondering? Simply put, you lock your cryptocurrency and sign a contract to lend it to other users for fees and interest. This allows you to consistently earn money while letting crypto assets do all the work. Sounds easy. However, even the highest yield accounts and savings rates in the United States rarely exceed 0.5%, so highest APY yield farms can generate millions of percent profit.
Risk vs Returns
Of course, before we show you all the goodies behind the farm with the highest APY yields, we need to elaborate on this seemingly magical phenomenon. As some people imagine, yield farming is not the only tool. The act of “agriculture for yields” is extensive and can include pooling tokens in the liquidity pool of decentralized exchanges, providing collateral through lending and lending platforms, betting rewards, etc. increase.
The basic idea is the same. Lock the token so that other users can access it and gain liquidity. You will receive commissions and rates as rewards. You also need to mention the risks if you add them before you move on. The higher the reward, the higher the risk. When using DeFi, the usual “Is this a scam” or “Is it going to be hacked?” Due diligence must be performed using any DeFibound protocol under all circumstances. There is none. But that’s not all. Yield In agriculture, the most worrying thing is the market itself in the form of “unstable losses”, which no one can actually control.
This is where the market price of the deposited tokens has changed. As a result, the dollars you receive at the time of withdrawal may be less valuable than when you deposit them when the underlying algorithm is readjusted. Still, this loss should be easily covered once these farms often begin to yield high yields.
Highest DeFi APY Protocols
These protocols (detailed here) are designed to help you find the best farms across DeFi and increase yields. In addition, they have also developed special tools such as B. Provide automatic synthesis capabilities to maximize profits in the best possible way. Anyway, there are many yield farming options here, and here is just a partial list of the farms with the highest and highest APY yields.
1. USDN: 21.61%
USDN is an algorithmic stablecoin pegged to the US dollar and backed by WAVES.
UST is the decentralized and algorithmic stablecoin of the Terra blockchain.
3. BUSD: 14.31%
BUSD is a USD-backed stable coin issued by Binance (in partnership with Paxos).
4. fUSDT: 13.83%
fUSDT is the officially wrapped USDT.
5. USDC: 12.36%
USDC is a stablecoin that’s live on many of the world’s most powerful blockchains.
6. USDT: 8.01%
USDT is a blockchain-based cryptocurrency whose tokens in circulation are backed by an equivalent amount of U.S. dollars
7. DAI: 7.1%
Dai is a stablecoin cryptocurrency which aims to keep its value as close to one United States dollar.
8. MIM: 4.16%
MIM is a USD soft-pegged stablecoin minted by the Abracadabra.
9. TUSD: 2%
TUSD is a stablecoin running on Ethereum that attempts to maintain a value of $1.
10. FRAX: 1.63%
FRAX is the world’s first fractional-algorithmic stablecoin on the Frax Protocol.
In short, this is a summary of the highlight reels of the farms with the highest APY yields, and the farms of particular interest. Of course, this is not a complete list of all the amazing DeFi protocols that exist in Ethereum. Each represents a great investment opportunity when you need to activate and execute crypto. Once that’s done, just sit back and relax and watch your retirement savings grow to unimaginable heights.
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of EGG Finance. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.