With the recent boom of Metaverse and Meme coins, it seems that Yield Farming projects have been forgotten about. With the “DeFi Summer of 2020” over, Yield Farming still remains one of the most popular ways to earn rewards with your crypto.
If you’re not familiar with Yield Farming, it allows you to earn with your existing cryptocurrency by lending out and staking your crypto on liquidity pools. There are a variety of popular options for Yield Farming, and in this article we will explore our top 5 projects that have a great outlook in 2022. The below list is in order of market capitalization, lowest to highest.
#5 Curve DAO Token (CRV) – $1.5 billion
Curve DAO is a decentralized exchange and market maker protocol. Curve DAO Token (CRV), is the ERC-20 token that powers the Curve network.
Curve DAO makes it easy to swap between different ERC-20 tokens, essentially acting as a competitor to Uniswap. However, unlike Uniswap, Curve DAO is meant to swap ETH into stablecoins like USDC, DAI, etc. In addition, Curve is able to swap the tokens for less fees because it rewards its users in CRV instead of charging swap fees.
CRV holders may stake their coins in order to collect rewards, or they can become part of the CRV liquidity pool and earn tokens that way. Curve DAO is one of the most popular platforms for Yield Farming, and the long term outlook of this project is extremely bullish.
#4 Compound (COMP) – $1.9 billion