— Yield farming describes the process of token holders generating income via DeFi platforms — Yield farming isn't risky. It cannot be affected by price volatility and rug pulls — Yield farmers don't need decentralized apps to earn interest and speculate on price swings
Yield farming is also referred to as liquidity mining. It is a way to generate rewards with cryptocurrency holdings. In simple terms, yield farming means locking up cryptocurrencies and getting rewards.
In other words, users can lend or borrow crypto (tokens) on a DeFi platform facilitated by smart contracts and speculate on price swings or earn interest in return for their services.
— Yield farming describes the process of token holders generating income via DeFi platforms — Yield farming isn't risky. It cannot be affected by price volatility and rug pulls — Yield farmers don't need decentralized apps to earn interest and speculate on price swings
It is the backbone that powers Polkadot, a next-generation, heterogeneous, multi-chain network. Most of the blockchains in the Polkadot ecosystem are also built on Substrate. It's the primary blockchain SDK used to create parachains that make up the Polkadot network.
Polkadot is a network protocol that allows diverse blockchains to transfer messages, including value, in a trust-free fashion, sharing their unique features while pooling their security. In other words, Polkadot is a scalable, heterogeneous, multi-chain technology.
Polkadot consists of heterogeneous blockchains called parachains and parathreads. The following chains can be connected with external networks via bridges. Like many post-Bitcoin cryptocurrencies, it also has a token.