DeFi is now making headlines with Crypto Yield Farming as investors are now considering investing in Crypto Yield Farming. We can see that if we look at the number of tokens staked and locked, also the market capitalization of DeFi is always going up which is a good sign. Lets first look at what it is all about.
What is Crypto Yield Farming?
It is when people lend their crypto assets so that they can make more crypto tokens from the ones they lend and stake. They are given yield percentage and there is quite a number of DeFi's which are into this. Lets take a look at only a few of the top 5 which are currently leading on the market capitalization and number of tokens lend out.
- Venus
- Pancake
- Sushi swap
- Curve.fi
- Bakery swap
Venus is now the leading DeFi based on Binance Chain with Total Value Locked of $13,469,251,275.21 and is mostly and its daily returns range from 0.01% to 0.29% with VIA Mint being the highest paying.
Pancake is the second largest market place for lenders and borrowers with Total Value Locked $10,494,508,246.48. It is also based on the Binance Smart-chain and the price of pancake is now $36.309. Its daily yield percentage ranges from 0.23% to 3101.83% Daily which is relatively high as compared to Venus.
Sushi is the largest Lending platform based in Ethereum and is currently ranked on number 3 of the Crypto Yield Farming rankings. It has Total Value Locked $2,095,911,787.66. Its daily yield percentage ranges from 0.03% to 0.13% maybe which is why it has low number of stacked token value. Its current price is $14.33 per sushi.
Curve is the second largest Ethereum DeFi lending platform and it is ranked 4th on the DeFi lending rankings. It has Total Value Locked $1,854,776,987.44 which is very low from those lending platforms based on Binance Chain.
Bakery Swap is the 5th ranked on the Crypto Yield farming ranking and it is the 3rd largest of the Lending platforms running on Binance Smart chain.There are Total Value Locked $439,090,564.92 and its daily yield percentage is low with 0.13 being the highest.
From my research i can say ethereum has the largest number of Crypto lending market places and has higher chances of exploding due toe mass investing, although Lending platforms on Binance Smart Chain are very few but with Higher number of Total locked value on tokens. We will see with times which one will dominate because it is too early to give a judgement.
