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Hello friends, Today I am going to share about different Defi platforms and ways to earn on Defi. Let's start it...
Some Well Know Defi Platforms
When we think about the possibility of earning in Defi, most time we don't know some of the good Defi platforms available. So we just ignore Defi (Decentralized finance). Hence I am going to start this blog with some well-known Defi platforms shown below.
1] Binance
It's one of the leading crypto exchanges in the world and everyone knows about Binance. In my opinion, it's the best crypto exchange to trade your crypto assets. This exchange also offers Defi staking and liquidity farming.
2] Pancakeswap
Pancakeswap is the best website to swap your token on Binance smart chain. It also offers crypto farms and pools. You can easily stake and provide liquidity and earn some reward on it.
3] Cub Finanace
Cub Finance is one of the best defi platforms. It offers various ways to earn cryptos such as staking, and farming.
4] OUSD
OUSD is a stable crypto. You can stake it without fear of price change.
Ways to Earn in Defi
1] Staking crypto in Defi
You can stake your crypto either the normal way or in the Defi platform (Defi staking). Chose potentially good crypto assets for staking. So in the long term price of crypto should increase and you will earn extra rewards on your staking.
Here's an example of a different defi staking option available on Binance. But Locked staking gives higher APY than defi staking on Binance. So you can check that out too.
Here are some locked staking options available on Binance which give relatively higher APR.
Here are the staking options available on Pancakeswap. Here we can get up to 59.73% APY on staking CAKE. It has a much higher return if we see other staking options. However, we should consider risk factors too, before investing in crypto staking.
2] Farming in Defi (Providing Liquidity)
You can provide liquidity to earn some reward on it. Crypto farming offers a very good APR than crypto staking.
For example, When you consider the CAKE-USDT pair you have to invest 50% of the amount in CAKE and 50% amount in USDT. Hence you are providing liquidity and earning some reward as shown below screenshot.
Also, CubFinance offers some good farming options and gives a very good APR. And as Hive users, we can easily start investing in CubFinance.
3] Staking Stable Coin OUSD
There is always risk in farming and staking if the price of crypto goes down, But in OUSD you can stake it without worrying about price change as it's a stable coin and it's pegged to the US dollar.
Still when we see its price chart then its price dropped too much for some time period as shown below image (Obviously something bad happened). So there's also a risk. But from last year its price didn't change much and it's nearly equal to 1$.
Note (Disclaimer): Currently I haven't invested in any Defi platforms. I am willing to do it, but maybe later. Information provided in this blog is for information purposes only. This information is not for legal or financial advice. Do your own research.
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