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DeFi farmers are everywhere and getting hacked

by eucalyp

Hey Buddy,

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

Yield Farming 🌳

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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Get published on Coinmonks

If you like to write educational articles on crypto/blockchain space and wanna get published on Coinmonks publication. Just mail me at gaurav@coincodecap.com or DM me Twitter

“We are a Non-promotional and Non-profit educational publication If you like to read Coinmonks, You can donate us too.

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

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Gaurav Agrawal

Gaurav Agrawal

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