Degen

Can someone explain $degen liquidity mining to a 5 years old ?

The benefit is mostly experienced by the greater community, since providing liquidity helps the coin scale

But you also get daily points via degen.tips (distributed first in Feb) 

The risk is that you lose your coin (impermanent loss) and receive ETH instead, as the pool balances

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Give degen

Get fees 

Also 

https://youtu.be/vICfaBb7ZbE?si=MgfJgGyESpbvzE-k

After reading everyone's replies and if you decide to provide liquidity, you can check revert.finance to see PnL benchmarks (holding vs. USD vs. ETH)