Hi Crypto people, hope all you are enjoying the recent DeFi trend. But are you really aware of Yield Farming? Or APY?
Decentralized lending and borrowing remove the barrier between a bank and bank users. It is on the way to create a bankless society. Allowing anyone to collateralize their digital assets and use this to obtain loans. One can also earn a yield on their assets and participate in the lending market by contributing to lending pools and earning interest on these assets. With decentralized lending and borrowing, there is no need for a bank account or a credit-worthiness check.
Many of the platforms like Aave, Compound, Dy/Dx, Falcurm, etc. are providing this opportunity!
The Annual Percentage Yield (APY) differs between assets as it is algorithmically set based on the supply and demand of the asset. Generally, the higher the borrowing demand, the higher the interest rate (APY) and vice versa.
Let's have a look at the Annual Percentage Yield (APY) of DeFi Yield Farming of this month!
What do you think about this trend? Let's chat on this!
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