Yield Farming: MAXIMISING DEFI GAINS!! 👨🌾
ฝัง
- เผยแพร่เมื่อ 22 พ.ค. 2024
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- TIMESTAMPS -
0:00 Intro
1:43 What is Yield Farming?
4:50 Compound Yield Hacking
7:16 Earning Comp Tokens
10:14 "Arbitrage" Yields
11:15 Liquidity Mining / Pool Tokens
13:05 Liquidity Mining with sBTC
15:10 Risks of Yield Farming
17:06 Conclusion
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⛓️ 🔗 Helpful Links & Sources 🔗 ⛓️
► Compound Finance: compound.finance/
► Instadapp: instadapp.io/
► Curve Finance: www.curve.fi/
► Mintr on Synthetix: mintr.synthetix.io/
► DefiRate: defirate.com
► sBTC Yield Farming: blog.synthetix.io/btc-yield-f...
► Compound Proposal: compound.comradery.io/post/1762
► mStable Docs: docs.mstable.org/appendix/roa...
► bZx Attack: cointelegraph.com/news/are-th...
► Balancer Disclosure: / incident-with-non-stan...
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🤔 What is Yield Farming? 🤔
It's a pretty broad term that refers to chasing yield in the DeFi space. Basically, allocating crypto to lending, borrowing and liquidity pool opportunities and using interoperable protocols to enhance that yield.
These are provided through a number of dApps which I am sure many of you have already heard of. dApps and platforms such as:
- Compound finance
- Maker Dao
- Uniswap
- Synthetix
👨🌾 Comp Yield Farming 👨🌾
Compound finance is a decentralised lending platform where people are matched through smart contracts. In order to incentivise use they disbursed these Comp tokens.
This was based on the interest rate charged on the loans. People were encouraged to lend more to earn. This meant a higher interest rate could be subsidized with Comp tokens. Those who are lending would also earn COMP tokens so they were also incentivised to do it.
Those lenders would then use the funds that they had deposited as a method to take out a flash loan and earn themselves more COMP. They would also then take these flash loan funds and use them in order to generate further yield by lending again
This allowed these farmers to earn yield in excess of 100%. However, given a recent governance change, this mechanism has been adapted.
Yield farming can still be done over on instadapp where you can provide lending to other pools.
🌽 Arbitrage Yields 🌽
Given that there are different lending protocols and markets, you can "arbitrage" out the relative yield difference between these pools and use that in order to earn those governance tokens.
This includes on platforms such as Aave, MakerDao, Compound etc. You can see a full overview of the different rates on the lend / borrow side over on sites such as Defirate which break things down quite well.
👩🌾 Synthetix Yield Farming 👩🌾
You can provide liqudity to pools of Synthetix's Synthetic tokens over at Curve Finance. These are either for the sUSD stablecoin pool (with USDC, USDT, DAI) or to the synthetic Bitcoin pool.
This will require you to sned your sUSD, WBTC or renBTC over to a curve finance pool. You will then earn liquidity pool tokens and rewards from balancer pool and Curve when they go live.
The benefit of using these Bitcoin tokens over USD backed tokens is that you don't have to give up your upside on the Bitcoin in order to earn yield on your Bitcoin.
⚠️ Risks ⚠️
There are risks from yield farming and these come from smart contract vulnerabilities. There have been a number of cases where this has already happened.
A few months ago you had that flashloan attack that took advantage of bZx, fulcrum and a few other protocols.
A few days ago you had an attack on one of the Balancer pools. This was quite a sophisticated attack that again used flash loans to take out a considerable position of wETH to trade against the Statera investment token.
You also have the edge risks that come from black swan events which can lead to liquidations in pools and vaults. This happened in the MakerDao vaults back in March.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#defi #yieldfarming #Ethereum #crypto #compoundfinance #Synthetix #uniswap #flashloan
Guy, always dropping knowledge. This channel will Yield you more than you think
Thanks guy, your channel is by far the best researched and presented on youtube this side of the pond.
People borrowing to lend, then borrowing again simply to lend. This is not going to end well for people.
I will have to watch through some of your previous videos for more background. Quite a mouthful, but I am already interested. You are the man to follow👍
Thank you Guy. The only simple most honest and straight forward explanation of how DEFI works. ⭐️⭐️⭐️⭐️⭐️
Finally what I asked you for.. delivered!!!! Great stuff mate.
I do deliver Hari ;)
Nice one guy...you always deliver, kudos
Thank you. Just the Information I was looking for
Solid as usual Guy!
These videos are brilliant, very educational everytime.
Great content as always!
BOOM! He's back again! 👊🏻
Awsome Guy....as usual! Thanks
Glad you enjoyed it Daniel.
Wow this is an ocean lol , great job covering this vast ocean. I have an unrelated question , what do you think of the melon token ? Just searching for some undervalued defi plays
As always well done sir! And thanks for the mstable tip, this is the first I heard of it. For that I will share tip I heard recently: aave and balancer are working on something big together. Perhaps consider looking into some LEND and BAL before it comes out. Not financial advice. Thanks again for an awesome Defi break down!
Thanks man! Appreciate the tip and that is a hot one. I am already earning BAL in the sBTC pool that I am lending to so going to hodl that one quite tight ;)
Brilliant overview of DeFi with useful specific details
Thanks Andy. Appreciate the support.
Cheers Guido. Good info.
No problem man! Anytime.
Would like to see a video of a defi gem called akropolis, love your insights and explanations on crypto projects. Big fan of yours from Nyc.
Another great video, do have an opinion or thoughts on BNK- Bankera??
I was getting 23% on bat for a little while. Dai is my fav stable and can usually get 4+% with dy/dx.
🧡💛💚💙 Great video Guy. DeFi is setting up Ethereum to catapult into the sky. It is a very interesting display of free markets working like a well-oiled engine... 🧡💛💚💙
Great, always good info and perfect accent
Glad you enjoyed it
You r best sir..... Thanks sir
Most welcome
I'm tending some synthetix/BAL/Curve fields mainly. The yields are just too good.
Another informative video.
Glad you enjoyed it
@@CoinBureau Always!
I love your vids mate I want to ask a quick question as I think you know a lot about anything to do with stocks can you make money day trading or is it a gimick as I want to take a course and have seen one that I am planing on taking ziptradeu what do you think please
The rate paid to BAT lenders like me went from 25% to 0.6% in less than a week. I am new to this, and did not realize that rates could change that much, that quickly.
Just saw the rate aswell and thought I have to put my BAT there and hen I saw that the intrest dropped...
Always great videos, Guy! Love the Ethereum videos. Please more! too many ppl talk about btc all the time. Ethereum and its eco system is the future.
Thanks Churr! Yep, Etheruem is one of my favourites so will be releasing many more vids on it for sure.
@@CoinBureau Glad to hear that. Thank you! hard to get such great content on Eth.
The Gold/usdc pool is over for SNX earnings...
Thanks! I only invested in Aave and Kyber, because farming is too difficult to me. You pronounced Aave right, well done!
haha. Thanks Sandra. Yep, Finnish for "Ghost" right? Yeah, yield farming is a bit complicated. Took me some time to dig into it too.
@@CoinBureau That is right. 😊
Am I the only one that gets a C-3PO vibe from Guy? Must be the accent. Would make for a great Halloween episode. Great content regardless.
Haha Carlos. That is the most amazing tip for my next Halloween costume. Or if this crypto stuff does not work out for me I could always double as a starwars cosplay 😉
Great video! Reserve is an interesting project you might want to check out.
Thanks Pat. Yep, I will check it out.
Going to buy myself an Asic miner for my profits
I use Celsius network and mixcoins
Unipower is the next gem ?
how can i know if this is a pay ad from compund guys ?
Could you do xdai stake please
man what you think about TRON TRX
I've noticed that gas prices feel like extortion, any way around it?
I want to understand all this. It seems way over my head but maybe if I listen again, some of it will sink in. I use Celsius. Is that similar? I know it probably is simplistic to all you’re teaching here.
Celsius is a centralized company which holds your funds. All these protocols which were mentioned in the video are Smart Contracts on the Ethereum Blockchain. There are currently different risks with both.
$BNT has $10 written all over it!
It's not hacking if they work with the tools available..?
Yes. That is true Dean. Just a smart arbitrage of the protocol rules.
Collateral in volatile crypto that is used 100% to buy more crypto. What can possibly go wrong? I'll pass. Thanks for the great content Guy!
Right there with you
sweet, stay over there.
So Guy, you like anime is that it? 😉😉
He, you only talk about the investors. What kind of people actually lend the money in this space?
Sorry, Guy, the hat you are wearing to advertise this video looks more like a Mexican sombrero! You need a basic straw hat, or a baseball cap with a John Deere logo, to make you look like a Midwestern farmer here in the US:) Great video...thanks and keep up the good work.
To complicated for me, Not your delivery Guy, just how to go about the whole affair. If there are winners in this, who are the losers?
The borrowers that see higher interest rates
first
Juicy as always , you are one of my best with Chico Crypto and davincij15, you guys should do video together, my three crypto rising star.
I smell Bitconnect piramid
Short it and become a millionaire. Perfect opportunity 👍
No. DeFi is smart contract based!
I smell New Paradigm. With its risks. Play accordingly
#HEX is the BEST #Defi finished Product!!! Hands down! Is the first CERTIFICATE OF DEPOSIT in the blockchain. 3 audits!!! You never give up your keys!!! I am so disapointed you didnt even mention it!!!
sounds like a ponzi scheme
Because it is
No. DeFi is smart contract based!