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TOP TIER YIELD FARMING ON AVALANCHE

Photo by Trang Pham from Pexels

Yield farming is the practice of maximizing profits through the use of decentralized finance (DeFi). Users earn cryptocurrency in exchange for lending or borrowing crypto on a DeFi platform. More complex tactics can be used by yield farmers who want to increase their yield output.

We have gathered some from Avalanche for you to see, check it out!

- Tier 1

· Yield Yak — $192.88M

What is Yield Yak?

Autocompounder

Yield Yak is an easy-to-use tool to earn more yield from defi farming on the Avalanche network.

Community-driven

Yield Yak is a community-driven project. Our community has built and maintained the best, cheapest and most diverse autocompounder on the market.

Self-sustaining

Yield Yak is largely self-sustaining. Our community compounds rewards, suggests new strategies, proposes key configuration updates and contributes to development. Yield Yak farms can run forever, without the team’s involvement.

How does Yield Yak work?

Yield Yak auto-compounds yield farm rewards.

  • Each farm is a pool of deposits from Yield Yak users
  • Farms earn reward tokens (like $PNG)
  • Farms reinvest all rewards, compounding everyone’s deposits
  • All depositors benefit from the very high frequency of Yield Yak compounding.

- Tier 2

· Vector Finance — $146.91M

Vector Finance is a protocol that synergistically integrates with Platypus Finance and Trader Joe. Vector enables users to generate boosted yields on their stablecoins or JOE LP deposits, even if they don’t own any PTP or JOE.

· Echidna Finance — $75.82M

Echidna Finance is a yield booster built for Platypus Finance. Stablecoin LPs can leverage Echidna’s vePTP treasury to boost their LP rewards on Platypus without staking PTP.

Echidna removes all complications with withdrawal penalties, capital allocation, and vePTP claiming to provide users with a simple streamlined service.

Echidna crowdsources PTP from the community in exchange for ecdPTP, a yield bearing token eligible for ECD (Echidna governance token) liquidity mining emissions.
All crowdsourced PTP is permanently staked into Platypus to accrue vePTP for rewards boosting. ECD can be locked to earn 40% of Echidna’s platform fees and boost ECD emissions on our platform.

· Homora V2 — $75.27M

Homora is Alpha Finance Lab’s first product and DeFi’s first leveraged yield farming product.

Since we have launched Homora in October 2020 on Ethereum, the product has reached significant usage and adoption such that we find the need to build Homora v2 on Ethereum. Through a number of unique and useful functionalities built-in on Homora v2, the product will further establish itself as the go-to leveraged yield farming/leveraged liquidity providing protocol in DeFi.

Homora V2 is a leveraged yield farming and leveraged liquidity providing protocol.

- Tier 3

· Stake DAO — $6.6M

Stake DAO is a non-custodial platform that enables anyone to easily grow their crypto portfolio. It is built on top of decentralized blockchain protocols, offering a seamless way for people to grow, track, and control assets right from their wallet. As a project, we aim to allow anyone — with any level of knowledge of crypto — to have easy access to the market’s most competitive products and strategies.

· Snowball — $4.4M

Snowball is a Decentralized Finance (DeFi) protocol built on the Avalanche blockchain. It was launched in early March, 2021 and was the first auto-compounder and stable-asset exchange on the network.

Since March, Snowball has grown to be one of the leading DeFi projects on Avalanche. It continues to offer and develop innovative products, while launching new DAOs integral to the DeFi ecosystem.

· Vesper— $2.4M

Vesper provides a platform for easy-to-use Decentralized Finance (DeFi) products.

Vesper’s DeFi products deliver ease-of-use in achieving your crypto-finance objectives. The Vesper token (VSP) is the core economic engine that facilitates the building and expansion of Vesper’s capabilities and its community.

· Impermax Finance — $2.1M

Impermax is a cross-chain, permissionless, decentralized lending protocol where users can participate as lenders or borrowers in isolated lending pools.

Each lending pool represents a pair of 2 tokens of a DEX. Lenders can supply tokens to any lending pool to earn passive yield without impermanent loss. Borrowers can deposit LP tokens in a lending pool to borrow tokens of the token pair. This enables borrowers to leverage their LP tokens and get even more LP tokens, allowing for leveraged yield farming and enhanced LP rewards.

· Gro — $1.7M

Gro protocol is a stablecoin yield aggregator that tranches risk and yield. The first two products built on it are the PWRD stablecoin with deposit protection and yield, and Vault with leveraged stablecoin yields.

· PenguinFinance — $1.4M

Penguin Finance helps you maximize your yield through a full-fledged ecosystem with yield-aggregation, farming, staking, fundraising, and gaming dApps.

It’s basically DeFi on steroids.

· Oh Finance — $536K

Oh! Finance is a decentralized, yield-generation protocol that offers optimized strategies to do more with your DeFi Dollar. Oh! Finance aggregates strategies from trusted DeFi protocols under a tokenized Yield Index, allowing depositors to gain exposure to multiple protocols with a single, gas-efficient transaction.

· Avaware — $189K

Avaware is a DeFi platform and ecosystem of projects built atop the Avalanche network. LP Mining, NFT Events, Marketplace, & Staking. Launchpad Events, IFOs, Stable Coin & More.

Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first decentralized smart contracts platform built for the scale of global finance, with near-instant transaction finality. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-bavaox.

A key difference between Avalanche and other decentralized networks is the consensus protocol. Over time, people have come to a false understanding that blockchains have to be slow and not scalable. The Avalanche protocol employs a novel approach to consensus to achieve its strong safety guarantees, quick finality, and high-throughput without compromising decentralization.

To learn more about Avalanche, visit their website.

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