starknet

Here's a 101 on STRKFarm 🐺 

STRKFarm is @Starknet's yield powerhouse!

Which means it generates passive income (aka yield) through its various strategies.

Let's break it down:

🧵

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Making it a lil more easier to understand:

STRKFarm takes your tokens, puts it into a *strategy and get you some positive return on your tokens.

*strategy = smart contracts which do some actions in a time interval

STRKFarm has 2 products to showcase:

1. Yield Farming Strategies 🌾
2. Liquidity Pools information with $STRK APYs

Let's first cover the Yield Farming Strategies! 👇

1. The strategy is "auto compounding".

It is available for $STRK and $USDC.

It involves depositing the tokens to receive $STRK rewards from the Defi Spring Program via zkLend. The rewards are then reinvested into the strategy.

2. Discover yields on Liquidity Pools which are a part of @Starknet's DeFi Spring Program.

It gives info on:
• The LP/lending pool in dapps
• The $STRK APY associated with the pool
• TVL of the respective pools - value in $ already present in the pool.

All major dapps are featured on the dashboard:

Haiko, JediSwap, mySwap, SithSwap, Nostra Finance, zkLend, Hashstack, Ekubo, StarkDefi, Nimbora and 10k Swap. 

You can also apply filters for:
- dapps
- category: stable / STRK pools
- protocol type: AMMs/lending pools

Here's an ongoing campaign in which you can take part 👀 

Deposit $1,000 worth of tokens for 30 days and receive an exclusive OG Farmer NFT.

Here's an ongoing campaign in which you can take part 👀 

Deposit $1,000 worth of tokens for 30 days and receive an exclusive OG Farmer NFT.

https://x.com/strkfarm/status/1788558092109775029

This thread was written after being inspired by @314yush - goat keeps writing fantastic pieces and reviews almost every day 🫡 

Also, the above thread is not financial advice and kindly do your own research before interacting with any dapps.

In the web2 world,

it's like fixed deposits in a bank, but the interest rate (aka yield) is more volatile, since crypto tokens are volatile in nature.