DeFi farmers are everywhere and getting hacked

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by eucalyp

Hey Buddy,

I hope you are staying safe. Let’s get to this week’s update.

Yield Farming 🌳

You will hear more of these words in the coming days. So what is Yield Farming?

So, in a nutshell, when a protocol/application gives you its free tokens to lock your existing tokens (Ethereum, BAT, etc.) to provide liquidity to the protocol. This is called yield farming.

Many DeFi protocols are now using following this model to achieve greater liquidity. But there are many risks involved here, so if you are a DeFi farmer, be cautious. 😀

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That’s it for now, send me ❤️, until next time.


DeFi farmers are everywhere and getting hacked was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.