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DeFi farmers are everywhere and getting hacked

Gaurav Agrawal
Jul 1, 2020 · 3 min read
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by eucalyp

Hey Buddy,

I hope you are staying safe. Let’s get to this week’s update.

You will hear more of these words in the coming days. So what is Yield Farming?

So, in a nutshell, when a protocol/application gives you its free tokens to lock your existing tokens (Ethereum, BAT, etc.) to provide liquidity to the protocol. This is called yield farming.

Many DeFi protocols are now using following this model to achieve greater liquidity. But there are many risks involved here, so if you are a DeFi farmer, be cautious. 😀

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That’s it for now, send me ❤️, until next time.

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Gaurav Agrawal

Written by

Editor — Coinmonks publication (medium.com/coinmonks) and working on (https://coincodecap.com)

Coinmonks

Coinmonks

Coinmonks is a non-profit Crypto educational publication. Follow us on Twitter @coinmonks Our other project — https://coincodecap.com

Gaurav Agrawal

Written by

Editor — Coinmonks publication (medium.com/coinmonks) and working on (https://coincodecap.com)

Coinmonks

Coinmonks

Coinmonks is a non-profit Crypto educational publication. Follow us on Twitter @coinmonks Our other project — https://coincodecap.com

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