Yield Watch with Defi Dad
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
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