OFFICIAL AUTHOR OF THIS POST IS BSC.NEWSYield Farm, another promising yet already proven concept that is setting its foot on land. Many great goals have been reached by Yield Farm based projects so far. Yield Farm is an all-around staking solution that allows investors to take advantage of cryptocurrency inflation.
The Yield Harvesters – BSC provides a multitude of tokens geared towards earning. These include the apparent plays of CAKE, DRUGS, and the newer token, JETS.CAKE and DRUGS: Cake and drugs provide ever-changing earnings opportunities, so my use of them may change over time. Both Thugs.Fi and Pancakeswap.Finance let users earn newly launched project tokens in unique farming schemes. If I see a token that I want to accrue and hold, I simply allocate it towards that pool position. If I do not find the current token opportunities particularly interesting, I throw them in a yield optimizer and simply grow my position. I will admit that it took me a while to see the value in holding these kinds of tokens, but as the BSC continues to expand more interesting projects are coming on the scene.
There are other scenarios in which these tokens can be used to both compounds and earn additional tokens. Autofarm, for example, auto compounds your CAKE position while also distributing AUTO as extra rewards. ETH yield farmers can find this comparable to Harvest, which runs a similar yield farming/yield optimizing strategy. I only recently started using this platform and am tiptoeing into a position as I am less familiar with it, but it provides the perfect scenario of how you can build entirely new positions using your existing cryptocurrency holdings. I am currently farming AUTO and providing the reward as liquidity to compound those earnings.
JETS: JETS provides a bit of a unique use case. It is important to note that you can’t purchase JETS, but instead have to build the position by locking up FUEL. JETS allows yield farmers to earn in a number of ways:
- Profit share from the upcoming vault strategies
- Stake JETS to earn more FUEL
- Stake JETS to earn partner tokens.
- Receive Gforce from transaction tax
- Profit share from future AMM
- Profit share from future lending/borrowing
What is yield farming explained
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