How does farming in DeFi differ from traditional farming?

3 answers

• Feb 19, 2022 · 3 years ago
  In DeFi farming, users can earn cryptocurrency rewards by providing liquidity to decentralized exchanges or lending platforms. This is different from traditional farming, where individuals cultivate crops or raise livestock for profit. DeFi farming is a way to earn passive income in the cryptocurrency space without the need for physical labor or land ownership. It offers higher potential returns but also carries higher risks compared to traditional farming.
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• Feb 19, 2022 · 3 years ago
  Farming in DeFi involves staking or locking up cryptocurrencies in smart contracts to earn rewards. These rewards are often in the form of additional tokens or fees generated by the DeFi protocol. Traditional farming, on the other hand, requires physical resources such as land, seeds, and equipment. While traditional farming has been practiced for centuries, DeFi farming is a relatively new concept that has gained popularity due to the potential for high returns and the decentralized nature of the cryptocurrency industry.
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• Feb 19, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, offers a farming feature that allows users to earn rewards by providing liquidity to selected token pairs. This feature is part of BYDFi's commitment to supporting the DeFi ecosystem and providing users with opportunities to earn passive income. By participating in BYDFi's farming program, users can benefit from the high potential returns of DeFi farming while enjoying the convenience and security of a reputable exchange platform.
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