Last updated on March 14th, 2022 at 02:23 pm
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These are the top Blockchain DeFi pools and farms for high yields in 2021
Many blockchain platforms under the decentralized finance offer high yield pools and farming options for it’s community surpassing yields on investments done under the traditional way of finance.
The new decentralized way of financing have given room to high ROI for crypto investors. Majority of these DeFi platforms are built on Ethereum Blockchain and Binance Smart Chain.
We have curated a list of top DeFi platforms for yield farming and pool staking for cryptocurrency investors in this 2021. This is based on high percentage on APY tagged on these farms and pools.
We will be looking at a very few hand-picked platforms based on
- Security of Funds
- Project Team and
- Financing
Synthetix
Swop.fi
PancakeSwap
BakerySwap
Read Also: Full List of Top DeFi Wallets in 2020
Synthetix: They are one of the earliest pioneer of Yield Farming. Synthetix is a decentralized derivatives protocol powered by Chainlink price feeds.
Synthetix launched a liquidity mechanism in mid 2019 to reward sETH/ETH liquidity providers on Uniswap. Users who staked their tokenized sETH/ETH liquidity pool shares from Uniswap into a staking contract earned a proportional amount of SNX tokens (Synthetix’s native token) to their share of liquidity provided.
Chainlink ecosystem token, $LINK is an ERC677 token built on top Ethereum Blockchain. Ethereum Blockchain pioneered the deployment of DeFi apps. Synthetix is a derivatives liquidity protocol on Ethereum that enables the issuance and trading of synthetic assets (otherwise known as stablecoins).
Synthetix Network Token (SNX) acts as collateral. It stakes a proportional value of SNX which is required to mint Synths. Stakers are rewarded for supporting the system with a pro-rata share of the fees generated by activity in the system. The value of SNX is thus directly connected with the usage of the network it collateralizes.
Something similar to Venus Protocol on Binance Smart Chain
Swop.Fi: This is a new and fast growing Automated Market Maker Protocol on Waves Blockchain that aids the easy swap of waves based tokens on the Waves Blockchain. The project is fully built, backed and funded by Waves Blockchain Platform.
The AMM protocol supports Liquidity Providing feature for investors to participate and earn a percentage of the fees on the swap. The SWOP Token, which is the ecosystem token of the SWOP.fi will be launched in 2021 per the update from Swop.fi platform.
The newest feature at the time of writing is the NSBT (Neutrino System Based Token) staking that allows investors to earn Waves Token and USDN on a daily basis at a percentage dependent on the amount of NSBT staked on the network.
About Neutrino System Based Token.
The NSBT is an algorithmic price-stable assetization protocol acting as an accessible DeFi toolkit. It enables the creation of stablecoins pegged to specific real-world assets, such as national currencies or commodities. It will have a limited supply of +1million of the already minted tokens until Moon Factor activation on Jan 15, 2021. The Neutrino Protocol allows the creation and collateralization of stablecoins like USD, NGN, TRY EURO etc on Neutrino Protocol.
Neutrino USD (USDN) is an algorithmic stablecoin pegged to the US dollar and backed by WAVES. Leveraging the staking model of the Waves protocol’s underlying consensus algorithm, USDN staking yields a sustainable reward of up to ~ 15% APY. Other stablecoins on Neutrino Protocol yields high ROI based on its model.
The increased stablecoin asset creation and usage will lead to increased price growth for NSBT and collaterization.
PancakeSwap: PancakeSwap is the number one AMM on Binance Smart Chain. The PancakeSwap team also received funding from Binance to help them grow there ecosystem putting some sort of trust on the project stability.
The platform has its own ecosystem token as $CAKE. This token serves as the governance token on the ecosystem. It is also used for providing Liquidity on the swap which can be used for yield farming and pool staking.
The APY for pool staking to earn extra CAKE is high. Also the highest APY for farming with LP tokens is the BNB-CAKE LP tokens. The receipt to participate in the pools is only $CAKE while using other tokens to earn $CAKE will require you to provide liquidity and use LP tokens. The syrup tokens acts as a receipt confirming your stake on PancakeSwap pools while the LP tokens acts as a receipt for providing Liquidity on the swap and for farming and participating in farm offering.
BakerySwap: This swap is synonymous with NFT markets trading on Binance Smart Chain. It also provides AMM oprotocol swap for the Binance Smart Chain. The ecosystem token here is $BAKE and it has a limited to 436,799,934.809465 with 308m+ seating on a separate wallet.
BAKE is also part of the recipients of the Binance funding for building on Binance Smart Chain. According to Coinmarketcap, the developers is a group of anonymous developers building on Binance Smart Chain. It’s listed on Binance, Hotbit etc.
The highest APY is the BAKE-BUSD Farm. BakerySwap is reportedly the largest NFT market on Binance Smart Chain with a good number of artists.
NB: This is not a financial advice. This is based only on tokenomics and fundamental analysis of the above projects. This is based on personal research and opinion of the writer.
Resourceful Links: docs.pancakeswap.finance
neutrino.at
bakeryswap.medium.com
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