Yield farming, or liquidity mining as it is also known, is the way defi protocols such as Maker and Compound are attracting huge quantities of fresh capital into decentralized finance. Decentralized finance has traditionally suffered from lower liquidity than centralized finance and exchanges. To incentivize investors to provide liquidity for the sector by locking up their assets in liquidity pools, protocols offer benefits including tokens. Yield farmers providing liquidity to defi protocols in order to receive these rewards and ‘farm’ the protocol tokens. In some cases, the returns are extremely lucrative. The strategy has encouraged huge amounts of capital to enter decentralized finance, with liquidity on decentralized protocols often overtaking that of their centralized peers.
Today there are many yield farms to choose from, each with their own risk and reward profiles. The challenge is navigating these farms successfully to maximize profits while minimizing risks.
YFarmer for Yield Farming
YFarmer is the automated yield farming algorithm which optimizes yield returns with a single click. YFarmer enables all crypto investors — not only whales — to benefit from the best and latest farming strategies, and will open up yield farming to the crypto masses.
Until now, the barriers to entry for would-be yield farmers have proved incredibly high. Newcomers and defi outsiders face a near impossible task learning the deep intricacies of successful yield farming strategies. So while a few enjoy the gainful bounty of their yield farming harvest, the rest of the blockchain space looks on, empty-handed and bewildered.
Yield farming is not easy. While the practice can be highly lucrative for the few who are already adept, newbie mistakes can be equally costly. The yield farming industry contains no instruction manual.
As the industry has grown, the number of available investment options has grown with it, and each with its own risk and reward profile. It is a dynamic and ever changing sector in which the best and most worthwhile farming strategies are continually changing. Keeping up with which farms are fresh, and which are less so, is a full time job.
YFarmer was created with this landscape in mind, bringing the benefits of yield farming to the masses. With YFarmer, yield farming becomes something for everyone.
Here we take a look at some of the most common pain points in the current yield farming sector and how YFarmer solves them.
- The learning curve is too steep
YFarmer makes yield farming easy with immediate onboarding. No buying token A, buying token B, approving the token A spend, approving the token B spend. Forget adding your assets to the liquidity pool, approving the liquidity pool and then finally getting to staking. With YFarmer it’s one click and done. Simple.
2. Managing multiple farms is extremely time consuming
With the popularity of yield farming exploding, even experienced yield farmers now struggle to keep up with every hot opportunity on the market. The YFarmer algorithm completely automates the process, finding the best returning yields based on the individual user’s taste for risk exposure.
3. Defi is expensive and yield farming is for whales, not everyday crypto users
Thanks to the growing popularity of defi and yield farming, and rising gas costs, switching assets and yield farms is increasingly cost prohibitive. By pooling assets with other investors, what was once an individual cost can be paid for between many. Everyone wins.
The YFR Token
YFarmer will also launch its own native token, YFR, with a public Presale occuring in the very near future. The Presale will consist of two rounds, Public round 1 and Public round 2. Once completed, the Presale will be followed by the Public Sale.
YFR will add greater flexibility and utility to the project, with YFarmers deciding to receive payments either in the farmed token, ETH, or YFR. Selecting YFR confers multiple benefits over the alternatives. The first is one of simplicity. Selecting YFR as the output token means only dealing only in a single token rather than multiple farmed coins. While payments in other tokens will incur a 5% earning fee, YFR payments will be subject to absolutely zero fees.
The public Presale for YFR tokens launches in October, with further details to follow. Please check back on our social media channels for further updates.
The yield farming sector is burgeoning, but it remains outside the reach of the vast majority of investors. YFarmer is building the wealthfront of the defi sector, selecting investment opportunities based on individual choices and risk reward strategies. True to the promise of decentralization and cryptocurrency, it is a premium level investment service that anyone can join.
To date, the defi sector has only managed to onboard a tiny fraction of the overall blockchain industry. By lowering the barriers to entry a whole new wave of investors can participate and finally fulfil the promise of decentralized finance.
To find out more about YFarmer follow us on the following links: