What Is Yield Farming in Cryptocurrency?

Kaushal01 Sep, 2023Business

Yield farming means putting your cryptocurrency into a group with other people's cryptocurrency also known as pool. This pool then employs smart contracts to manage cryptocurrencies, like lending out the cryptocurrency to earn interest. Imagine you have some cryptocurrency. Instead of keeping it alone, you join a team of people who put their money together. This team employs smart contracts to lend it to others. This makes the fund grow, and you get a share of the growth as a reward. But remember, this can be risky, and you might get a lot or lose a lot.