If you followed the DeFi space, everything started to get really crazy few weeks ago with yEarn and the release of YFI.
Since that time a lot of forks and protocols emerge trying to mimic yEarn .
In this article i'll try to summarise those protocols. As everything is very quick , i'll probably forget some. So please let me know in comments if I need to add something.
But first of all, i'd like to also know your opinion about that.
What is really the point of those protocols ?
Yield farming ! of course. But to farm what ? Everything started with YFI. This token was supposed to be 0 value, and only be used as a gouvernance token. But we know what happened and today 1 YFI is almost equal to 1 BTC !!! crazy
Nevertheless YFI is still a key player in the protocol because holders can vote in order in order to take decisions and most importantly decide how fees are distributed. And very soon, holders should also receive nice rewards.
This was the first one to really do that, and a very nice community was builded. Very active, very cleaver ... And the protocole is developing like crazy since that time and more is coming.
So now, other people are trying to miming that. But they don't have the same community , and they are just basically trying to do the same thing. But they are just trying !
So why people are farming those tokens ?
Not sure...maybe because they missed the YFI train, and there think they will make easy money with those news protocols... maybe ...
But look at charts ? even after few hours, prices are decreasing like crazy. So if you are not a big whale being the first one to farm and selling very quickly you don't really make money.. Also don't really understand who is buying instead of farming ?
Do people really think those protocols can bring something really new ? So they want to be part of the gouvernance. Maybe...
On https://cream.finance/ you can farm $CREAM using ETH ,USDT , USDC ,YFI ,BAL, COMP, yCRV, LINK
On https://yam.finance/ you can farm $YAM using ETH ,MKR , SNX ,YFI ,LEND, COMP, yCRV, LINK ,AMPL_ETH_UNI_LP
A V2 is coming very soon as a bug was founded is the V1.
On https://spaghetti.money/ you can farm $PASTA using WBTC, WETH ,MKR , SNX ,YFI ,LEND, COMP, LINK
It seems that you can't farm it , only buy and sell
On https://game.taconomics.io/ you can farm $TACO. To be honest i don't understand how ! if you someone knows, i'm curious to know
not released yet
not released yet
And of course YFI's forks like YFI I , YFI II ....