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The Defi Chronicle: Can I Really Earn 1,755% APY Paid in Bitcoin on a Polygon Yield Farm?
After being drawn into the depths of Degen Yield Farming via low gas fees (thank you Polygon!), here is a lowdown on some of the different investment options in a degen yield farm and what my preferred strategy is. I’ll also explain how you can earn a 1,755% APY (at time of writing) paid out in Bitcoin.
Success in degen yield farming is a combination of luck, strategy, and luck. Overall, I have lost money in my yield farming experiences. The space is rife with scams, exploits, and dishonesty. These lessons have been expensive, but here are some of the insights that I have taken away and a bit of a tutorial if you haven’t ventured into this arena. This is not financial advice. As a matter of a fact, I have lost money in this space, but still see some value and am quite intrigued with the creativity and game theory in degen yield farming.
What is Yield Farming?
Yield farming is earning interest on cryptocurrencies via a lending platform. The interest can be paid out in the yield farm token, in-kind (the same token you are investing), or in a different token.
What is Degen Yield Farming?
These are farms that offer sky-high rewards, sometimes over 1000% APY. Typically, Degen Yield Farms payout…
