DeFi on Ethereum has had yet another explosive week of growth, with Total Value Locked (TVL) growing by 30%, just $500,000 shy of a new all-time high milestone of $10B!
Part of the driving force behind this epic growth is yield farming–commonly defined by providing liquidity to permissionless DeFi applications while earning multiple forms of yield simultaneously, kinda like aquaponic farming but with money applications.
So let’s talk about 3 yield farming opportunities considering my own desire to let my money work for me without succumbing to the riskiest escapades of “Degen yield farming.” These are all premier trusted and tested DeFi teams with audited code, or in Cream Finance’s case, code that’s unchanged based on the audited code of Compound..
Farming AKRO + New ADEL Governance Token on Akropolis Delphi
Akropolis is a team that’s been building for DeFi since before the cool kids caught wind of DeFi. Recently they’ve built a brand new DeFi hub for investing, saving, staking, and DCAing (dollar-cost-averaging) into DeFi opportunities called Delphi. The backbone of their work has been to enable “decentralized and autonomous community economies” and so Delphi looks to be one of the friendliest onboarding tools for newcomers to DeFi. Delphi as a product will be governed by the ADEL governance token, which is currently in its second week of liquidity mining (aka yield farming) to properly decentralize governance for the future of Delphi.
Here’s what you need to know!
- Estimated APY: ~29% and upwards of 500% depending on amount of liquidity
- Read their latest update on Week 2 Liquidity Mining program
- Assets to farm: AKRO and/or ADEL
- Assets possible to provide liquidity: DAI, USDC, sUSD, BUSD, AKRO, ETH
- DeFi platform exposure via this program: Curve, Aave, Akropolis, Uniswap, Balancer, Compound, Mooniswap
- Where to go: For Delphi Savings (lending + LPs) and for AKRO staking on Delphi
- Complete list of staking and LP opportunities to yield farm
- My pick: I’m staking AKRO on Delphi but also providing liquidity to the Balancer 70/30 AKRO/WETH pool, which has less liquidity and hence lets me earn more ADEL.
Farming CREAM + BAL with Cream Finance
Cream is a fork of Compound without changes to the smart contract code. The major difference is that Cream offers countless other popular tokens to lend and borrow, that are not available in the other 9 markets on Compound. They claim to have Compound Finance as a “technology and security advisor.” I want to point out in advance that means NO AUDIT, but it’s an interesting take on their smart contract risk that they claim to benefit downstream from the work of Compound, as well as a relationship with them. Cream is where you can lend or borrow assets, and the borrowing interest pays lenders. Additionally, CREAM is the governance token which is being rewarded to LPs who provide liquidity to the 50/50 ETH/CREAM pool on Uniswap or the 80/20 CREAM/ETH pool on Balancer (for those wanting more exposure to CREAM). All one has to do is stake (aka deposit) the LP token from Uniswap or Balancer on the Cream Finance app.
Here’s what you need to know!
- Estimated APY: 624% for Balancer LP and 578% for Uniswap LP
- Assets to farm: CREAM and BAL (if a Balancer LP)
- Assets possible to provide liquidity: ETH and CREAM
- DeFi platform…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
