Decentralized finance (DeFi) is an area that many people believe could actually grow significantly over the next few years and capture trillions of dollars’ worth of value. According to statistics, DeFi could be worth $800 billion in 2022 (Source: Insider). So, there are potentially some enormous gains and profits to be made in this space, especially if you’re in here early enough.
Decentralized finance is a blanket term for multiple decentralized financial applications (dapps) offering a wide range of services like borrowing and lending, insurance, exchanges, etc. So, why does DeFi matter? Well, it’s nascent and rapidly growing. Moreover, it is the future of financial services and comes with compelling value propositions. One of the biggest growth drivers of DeFi in 2021 is yield farming (also known as liquidity farming or crypto staking).
What is Yield Farming?
Staking cryptocurrencies or yield farming is a way to earn passive income from your cryptocurrency. You use the coins you have, leave them somewhere else for some time, and receive more in the future.
Yield farming is like putting some cash into a savings account in a bank, and after a certain period getting that cashback plus the interest on top. However, fundamentally the two aren’t the same at all. In yield farming, you aren’t actually lending your coins to someone else so that they can go and invest it. You give them up for staking – the process of actively participating in transaction validation on a proof of stake blockchain.
Best Yield Farming Platform
There are multiple yield farming platforms in DeFi. The most popular is Ethereum and Binance networks. The barriers to entry on Ethereum for staking are pretty high, and you need around $20,000+ worth of Ethereum coins to invest. Also, you may have to keep your coins staked for a couple of years. However, Binance Smart Chain (BSC) is much more flexible and convenient. This is why more and more people are now yield farming on smart contracts on BSC.
One of the best BSC smart contracts for yield farming is BUSDMatrix.io. It is a dapp that allows you to earn 200%+ ROI (return on investment) on BUSD deposits. Since its launch, just about 10 days ago, BUSDMatrix has crossed $5 million BUSD deposits.
Here are the benefits of yield farming on BUSDMatrix:
- High Yield Platform
BUSDMatrix gives a stable high yield of 119% to 234%. You can earn 7.8% to 17% daily ROI on a minimum deposit of 5 BUSD.
- Easy To Use
Unlike other platforms, BUSDMatrix offers a simple and intuitive interface. Thus, it is super user-friendly.
- Referral Rewards
You can also get more profits through the 5-level referral program. More than $400,000 BUSD referral rewards have been awarded already.
- Supports Different Wallets
BUSDMatrix is compatible with different crypto wallets. It supports 64 wallets on mobile browsers and 4 wallets on desktop browsers.
- Short Investment Periods
You can deposit BUSD for a period of 7 days to 30 days to earn a daily ROI of 7.8% to 17%. So, unlike other yield farming platforms, you do not have to wait months and years to earn yield.
Wrapping Up
Yield farming on BUSDMatrix offers many benefits like a clean UI, earning rewards, and 24/7 customer support on Telegram. Their smart contract has been audited by Haze Crypto and the report verifies complete security and no vulnerabilities. However, the biggest advantage is that you can make a real profit on your BUSD stablecoin holdings. You don’t have to wait for the value to go up and sell you BUSD to earn profit. Just deposit them on BUSDMatrix and generate stable regular income.
