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How Degens make money
Degens employ various strategies to generate income within Web3, leveraging the unique opportunities offered by decentralized platforms. Some common methods include:
Yield Farming: Degens often participate in yield farming by providing liquidity to decentralized exchanges (DEXs) or lending protocols, degens earn fees and rewards in the form of tokens.
Trading and Speculation: Degens actively trade cryptocurrencies, tokens, and NFTs on decentralized exchanges and secondary markets, capitalizing on price fluctuations and market trends.
Participation in Launches: Early participation in token launches, initial decentralized exchange offerings (IDOs), or NFT drops can yield significant returns if projects succeed and tokens appreciate in value.
Contributing to DAOs: By participating in decentralized autonomous organizations (DAOs), degens may receive rewards for governance activities, voting on proposals, or contributing to community-driven initiatives. 15 replies
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