Farmer Bob’s Yield Farming Guide
Popcorn’s Friendly Degenerate Farmer
Introduction
Welcome to Farmer Bob’s Yield Farming Guide. Often times in the crypto space, it can be overwhelming to jump into the middle of the action and try to find your way in the darkness. You likely have heard of DeFi, possibly even yield farming, but do you know the difference between APR and APY? Along with how people manipulate the data to draw you in? What about something as essential as finding safe farms in the first place? I will answer these questions and many more in the upcoming articles of my Yield Faming Guide. And be sure to follow me on Twitter to stay up to date!
My goal
To share my knowledge with DeFi beginners that I have built up over the last 3+ years in this space to generate income and put your idle assets to work aka PASSIVE INCOME.
Why, What, and WEN?
I’ve been in the crypto space since 2017. I started out suspicious, quickly growing euphoric, then precipitously plunged into the shadow realm along with the market in 2018, and spent the next 3 years falling deeply in love with everything crypto.
With the markets down, recognizing that I was neither a trader nor a programmer, I went further down the rabbit hole of crypto to see what can be done besides hodling or staking. That’s when I discovered DeFi (decentralized finance) and never looked back.
As I became more immersed in yield farming, I started advising people close to me about how to put their money to work in crypto even if they didn’t want to own any beyond stablecoins.
That’s when I told my friends at Popcorn about my plans to launch a beginners guide to yield farming. I was frequently advising people on the opportunities and pitfalls, so putting it down on paper in a public forum and hopefully helping others looking to explore this space was a no-brainer. And Popcorn was gracious enough to give this anon farmer a platform to do it.
So that’s the WHY. The WHAT is the following general outline of upcoming articles:
- What is Defi? What are the steps you need to take before deploying capital to safely participate?
- What is Yield Farming? What is the due diligence you need to do + how to do it?
- What are the best platforms to begin your journey with and why?
- How do I set up my yield farm position in Curve?
- Using your first yield aggregator!
After those overviews, well deep dive into protocols like Curve, Aave, Popcorn, Yearn, etc., look at how to farm on non-eth L1’s, everything you need to know about impermanent loss IL, how to set up your LP’s on most AMM’s, and much, much more!
I’ll also be creating an interactive spreadsheet with links to my favorite portfolio management tools, DeFi research sites and academies, crypto news outlets, a list of crypto jargon, and everything else I frequent a daily basis including letting you know which farms I actively participate in.
As for the WEN? See you all next week for an overview on DeFi, how it makes yield farming possible, and what you need to do before even putting 1 (more?) cent into crypto.
