I’ve lost $5000 over the last two weeks in decentralized finance farming yield. Here’s my story.
Decentralized finance has been quite the hype for the past few months and I’ve finally decided to get my feet wet two weeks ago after my friend repeatedly prompted me to. Here’s what I’ve learned after losing ~$5000 on yield farming.
Yield Farming
Yield farming is one of the must-do in the defi space right now. The concept allows one to stake some token, usually liquidity providers’ tokens, in a smart contract and be rewarded some native tokens for it. There are multiple forks and clones of farming applications. To list a few:
Over the last two weeks, I’ve tried farming on various apps and realized they are all the same.
This is my story on Kimbap.finance…
Farming Inc.
In the case of an application like Kimbap, you can deposit Uniswap’s liquidity provider tokens and be rewarded $KIMBAP as you continue to hold the…
