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How Does Yield Farming Work in DeFi?

A few of the advantages of DeFi include immutability, openness, permissionless, programmability with smart contracts, as well as much more. Most notably, all the funds are really in self-custody as opposed to a cryptocurrency exchange.


This suggests Uniswap is a robot online that is always happy to buy and it’s additionally always happy to sell any cryptocurrency for which it has a market. It does, as well as in DeFi that money is largely given by strangers on the net. That’s why the start-ups behind these decentralized banking yield farming beginners guide applications develop smart ways to attract HODLers with idle assets.

So what’s the factor of borrowing for people that currently have the money? It’s additionally good for somebody that wants to keep a token but still play the market. They are not like a token at a video-game gallery, as so many tokens were explained in the past.

That stated, dispersing governance tokens may make things a great deal much less high-risk for start-ups, at least when it come to the money polices.
” In some types of products, the product experience obtains far better if you have liquidity.
If the threats of yield farming have not place you off, you’re most likely asking yourself how to obtain involved and see some earnings.
COMP’s worth will likely drop, which’s why some investors are hurrying to earn as much of it as they can today.

What is Defi? Explained Here

How does the Blockchain work?

Blockchain does not store any of its information in a central location. Instead, the blockchain is copied and spread across a network of computers. Whenever a new block is added to the blockchain, every computer on the network updates its blockchain to reflect the change.

Some of the DeFi protocols will certainly incentivize the farmer a lot more by permitting them to stake their liquidity provider or LP tokens representing their participation in a liquidity pool. It obtains a little bit a lot more complicated right here, and also it is worth reviewing this even more extensive tutorial on staking to recognize how it functions. A yield farming strategy intends to create a high yield on capital. The steps will certainly include lending, loaning, supplying capital to liquidity pools, or laying LP tokens. Yield farmers agree to take high dangers to strike dual or three-way figures APY returns. The finances they take are overcollateralized and vulnerable to liquidation if it goes down listed below a specific collateralization ratio threshold. There are likewise threats with the smart contract, such as pests and platform adjustments or strikes that try to drain liquidity pools.

Read more about liquidity mining here. Uniswap incentivizes liquidity providers to down payment into its pools by paying rewards from transactions utilizing those pools. If you`re already aware of the idea of betting as well as earning staking rewards, after that you`ll enjoy to know that yield farming is more or less the very same thing.

Is yield farming the same as staking?

Staking and yield farming are two entirely different worlds that have different goals and purposes. While yield farming focuses on gaining the highest yield possible, staking focuses on helping a blockchain network stay secure while earning rewards at the same time.

The information supplied here is for reference and also informational purposes only. This information is not planned as financial advice and readers comprehend that all dangers associated with DeFi as well as yield farming are taken on by the user themselves. Money market platform Aave uses debtors the capability to pick a secure rate of interest.

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Bitcoin Rate Can Reach $100,000 by September According to S2F Design

Bitcoin’s price could spike to a six-digit price territory as early as April or September this year, said the creator of the popular stock-to-flow model, PlanB. Additionally, the asset could surge to $288,000 by the year’s end if it follows the 2013 bull cycle.

Bitcoin To $100K In Two To Seven Months?

The primary cryptocurrency has been on a tear in the past several months after exploding by about 5x since early October 2020. In the first month and a half in the new year alone, the asset has added nearly $20,000 of value to a new record registered earlier today.

Consequently, these developments have prompted numerous discussions within the community, which are the next milestones in BTC’s way up and how far ahead it could rise.

According to the creator of the stock-to-flow model, bitcoin is on route to break into a six-digit territory in the next up to seven months (by September 2020).

Bitcoin Price Performance During 2013 / 2017/ 2021 runs. Source: PlanB
Bitcoin Price Performance During 2013 / 2017/ 2021 runs. Source: PlanB

He noted that the cryptocurrency has been moving with “steady progression and inevitability” since the 2020 halving. As such, the price target of $100,000 could come somewhere between April and September.

The original version of the Bitcoin S2F model, which he released in 2019, described the stock as the size of existing reserves (or stockpiles) and the flow – the annual supply of bitcoins on the market.

Naturally, the halving – the event that slashes in half the production rate of new coins – has a vital role in the S2F development.

$288K By The End Of 2021?

While reaching $100,000 in the upcoming months would be a significant milestone for the first-ever cryptocurrency, it could be just a stepping stone to even higher ground. In a previous tweet, PlanB predicted that BTC could continue upwards to $288,000 by the end of 2021.

This time, he based his somewhat optimistic projection on the upgraded version of the model known as the stock to flow cross-asset (S2FX) model and the 2013 bull run.

Apart from the “stock” and “flow,” S2FX also considers the different phases in which BTC has gone through since its inception in 2009. Those include the initial proof-of-concept, the payment stage, e-gold, and the latest one – financial asset.

As the graph above illustrates, BTC’s ongoing rally is somewhere between the 2013 and 2017 cycles. If the asset’s future performance resembles more that of the first major run, it could make a 500% surge to $288,000.

Should bitcoin indeed reaches such a whopping price tag, its market capitalization will greatly exceed that of the world’s most valuable company Apple at over $5.3 trillion.

Title: Bitcoin Price Can Reach $100,000 by September According to S2F Model
Sourced From: cryptopotato.com/bitcoin-price-can-reach-100000-by-september-according-to-s2f-model/
Published Date: Fri, 12 Feb 2021 15:32:49 +0000

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[PRESS RELEASE – Please Read Disclaimer]

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Title: 1xBit Announces Hot Live Casino Tournament for Valentine’s Day 2021
Sourced From: cryptopotato.com/1xbit-announces-hot-live-casino-tournament-for-valentines-day-2021/
Published Date: Fri, 12 Feb 2021 15:32:46 +0000

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Ethereum Price Analysis: ETH Dealing With Significant Resistance on Its Way to $2,000.

ETH/USD – Hints Of Bearish Divergence Showing

Key Support Levels: $1685, $1600, $1536.
Key Resistance Levels: $1800, $1850, $1900.

Ethereum has now established another ascending price channel as it trades near the upper boundary. It had rebounded from $1300 at the start of the month and pushed higher to reach a new ATH at $1839 this week.

Over the past four days, Ethereum seems to be struggling to penetrate the resistance at $1800 as it couldn’t close a daily candle above it. For this bullish leg to continue, ETH must break $1800 and breach the ascending price channel’s upper boundary at around $1850.

ethusd_chart
ETH/USD. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, the first resistance lies at $1800. This is followed by $1850 (1.618 Fib Extension – Yellow & upper boundary of the channel), $1900, and $1960 (1.272 Fib Extension). Added resistance above $2000 lies at $2060 (1.414 Fib Extension) and $2200.

On the other side, the first support lies at $1685. This is followed by $1600, $1536 (.236 Fib & lower boundary of the channel), $1425 (previous ATH), and $1350 (.382 Fib).

The RSI is showing hints of bearish divergence as it starts to head lower in February while the price has been grinding higher. If this plays out, ETH could see a drop toward the ascending price channel’s lower boundary.

ETH/BTC – Market Falls 20% From Feb Highs

Key Support Levels: 0.0361 BTC, 0.0349 BTC, 0.0337 BTC.
Key Resistance Levels: 0.038 BTC, 0.0396 BTC, 0.0405 BTC.

Against Bitcoin, Ethereum is starting to show signs of weakness after dropping almost 20% from the Feb high of 0.046 BTC. It penetrated beneath an ascending trend line earlier in the week and continue to plummet from there.

The coin had been defending the support at 0.0377 BTC (.5 Fib) but crashed beneath this yesterday to reach the current 0.037 BTC level.

ethbtc_chart
ETH/BTC. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, the first support lies at 0.0361 BTC (March 2019 High). This is followed by 0.0349 BTC (downside 1.272 Fib Extension), 0.0337 BTC (Nov 2020 Highs & 100-day EMA), and 0.0329 BTC (.786 Fib).

On the other side, the first resistance lies at 0.038 BTC. This is followed by 0.0396 BTC (Feb 2019 High), 0.0405 BTC (2020 High), and 0.0416 BTC (2019 High).

The RSI has also plummeted beneath the 50 level, indicating the bears are in control of the market momentum right now. There is some hope with the Stocahstic RSI already in oversold conditions, and it is primed for a bullish crossover signal.

Title: Ethereum Price Analysis: ETH Facing Huge Resistance on Its Way to $2,000
Sourced From: cryptopotato.com/ethereum-price-analysis-eth-facing-huge-resistance-on-its-way-to-2000/
Published Date: Fri, 12 Feb 2021 15:32:42 +0000

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PayPal CFO Claims The Business Might Not Convert Money Into Crypto

PayPal will probably avert from investing its cash into Bitcoin. Despite the recently expanding interest from institutions in digital assets, the US payment giant will not get into the crypto whirlpool, said the firm’s Chief Financial Officer.

dmitting Cryptocurrency’s Values but Still Won’t Invest

Although it sees enormous opportunity in the development of digital wallets, PayPal will most likely not allocate portions of its cash into Bitcoin or other cryptocurrencies. According to a recent news report, PayPal’s CFO John Rainey said that the company does not have any interest in buying cryptocurrency. Instead, the firm prefers to invest in services that improve the network it offers.

The company has admitted its belief in the transition to digital forms of currencies and considers it inevitable. In December, PayPal CEO Dan Schulman addressed digital wallets as “a natural complement to digital currencies” and affirmed that the company maintains and serves 360 million digital wallets.

“We’re not going to invest corporate cash, probably, in sort of financial assets like that,” said John Rainey during the interview, adding, “but we want to capitalize on this growth opportunity that’s in front of us.”

Furthermore, Rainey noted that PayPal had mapped some plans to invest its funds in companies that provide “complementary assets to the platform” and bring growth. The firm would also introduce its “buy, sell, and hold” crypto services to the United Kingdom.

“The types of services that we’re providing, like buy now, pay later [and] crypto as an example — even offline QR code — those are the types of things that we want to continue to invest in, be it organically or even inorganically when we see opportunities in the ecosystem,” explained the CEO.

John Rainey. Source: Barrons
John Rainey. Source: Barrons

cknowledging Bitcoin and Cryptocurrencies in General

In times when institutional investors and big names like Tesla and MicroStrategy are making their initial steps investing in Bitcoin and crypto, PayPal apparently won’t follow the current flow. However, the company still shows quite the trust in the digital assets.

As CryptoPotato reported, the firm marked massive gains in its 4th quarter of its fiscal 2020, after including cryptocurrency trading in their list of services. The giant leap came shortly after the company received a conditional license from the New York State Department of Financial Services (NYDFS) US, allowing users of its Venmo service to trade cryptocurrencies.

The payment processing company reported the following surge as its strongest financial year, with high payment volume and new onboarded accounts to further strengthen its scale. Furthermore, the firm announced its active users’ number jumped to 16 million in Q4 2020 alone.

As a whole, in 2020, the company has added 72.7 million net new active accounts, reaching its active account base to a total of 377 million.

Featured Image Courtesy of CNBC

Title: PayPal CFO Says The Company Might Not Convert Cash Into Crypto
Sourced From: cryptopotato.com/paypal-cfo-says-the-company-might-not-convert-cash-into-crypto/
Published Date: Fri, 12 Feb 2021 15:32:38 +0000

Ben Goertzel’s SingularityNET begins 2nd stage of migration from Ethereum to Cardano

SingularityNET, an artificial intelligence (AI) solution built on Ethereum, has begun the second phase of its migration to Cardano. The company’s AGI cryptocurrency will be the first major token release on the Cardano Native Assets platform and the largest democratic exercise in the history of decentralized AI.

major decentralized AI network is coming to Cardano

SingularityNET, a decentralized artificial intelligence (AI) solution created by Dr. Ben Goertzel, has entered into the second phase of its migration to Cardano. The network’s departure from Ethereum was announced back in early October 2020, citing the academic rigor and formal methods behind Cardano as the main reason for migrating to the platform.

At the time, the company said that the core technology developed by IOHK was “closely in line” with the deep scientific background of the SingularityNET’s team.

Dr. Ben Goertzel, the founder and CEO of SingularityNET, said that the decision on whether or not to migrate to Cardano was left to the community. The voting process took place earlier this month and lasted for four days. With 187 million votes in favor of the proposal to migrate and only 20 million votes against it, SingularityNET will now officially be a Cardano-based platform.

SingularityNET’s AGI becomes the first major token to launch on Cardano

As part of the migration, SingularityNET’s native AGI tokens will be issued on Cardano. According to an official announcement from the company, 1 billion tokens will be issued in total, with the first issuance consisting of 15 million AGI. The rest of the tokens, called AGI-ADA will be issued gradually each month, with the issuance reate decreasing 1.5 percent each month.

In a recent YouTube video, Dr. Goertzel said that the total issuance will take 91 years to complete. He explained that the slow issuance process will enable the company to allocate more resources to develop the platform.

The old AGI ERC-20 token will remain on Ethereum, with users being able to swap back and forth between AGI ERC-20 and AGI-ADA.

After SingularityNET migrates to Cardano, the next step in the platform’s development will be to strengthen its governance model through the tools provided on the Cardano blockchain.

IOHK, the company behind Cardano, said that having AGI on the blockchain will be the first major token release on the Cardano Native Assets platform. It will also be the “largest democratic exercise in the history of decentralized AI,” the company added.

“The AGI SingularityNET Phase Two proposal represents a major new step for Dr. Ben Goertzel’s decentralized AI project and an intensification of the Cardano partnership,” IOHK said on Twitter.

The post Ben Goertzel’s SingularityNET begins second phase of migration from Ethereum to Cardano appeared first on CryptoSlate.

Title: Ben Goertzel’s SingularityNET begins second phase of migration from Ethereum to Cardano
Sourced From: cryptoslate.com/ben-goertzels-singularitynet-begins-second-phase-of-migration-from-ethereum-to-cardano/
Published Date: Fri, 12 Feb 2021 15:32:21 +0000

Amazon.com, Mastercard seek to broaden into the crypto space

American corporations Amazon and Mastercard are both looking to enter the cryptocurrency market in the near future, according to some recent reports and an official statement made by the latter.

Our philosophy on #cryptocurrency is simple: It’s about choice.

Mastercard is preparing right now for the future of #crypto and payments, announcing that this year we will start supporting select cryptocurrencies on our network. Read more: https://t.co/K9C8Z4IpQW

— Mastercard News (@MastercardNews) February 10, 2021

According to Mastercard’s official blog post published on Wednesday, the payment giant plans to add support for cryptocurrencies to its network “later its year.”

“We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network,” wrote Raj Dhamodharan, executive VP of digital asset products at Mastercard.

While the company has already partnered with external crypto payment firms such as Wirex and BitPay in the past, it still needs a bridge that would allow exchanging crypto payments back into fiat on its own network.

When implemented, this would help Mastercard “cut out inefficiencies, letting both consumers and merchants avoid having to convert back and forth between crypto and traditional to make purchases,” Dhamodharan added.

At the moment, it is still unclear which cryptocurrencies Mastercard intends to support, although definitely not all of them due to regulatory compliance concerns. Additionally, Mastercard is also “actively engaging” with various central banks to potentially launch new digital currencies.

“We will be very thoughtful about which assets we support based on our principles for digital currencies, which focus on consumer protections and compliance,” the company noted.

mazon’s “digital currency” project in Mexico

In its turn, while Amazon didn’t make any official statements so far, several reports have pointed out some of the company’s recent job postings for an undisclosed “digital currency” project in Mexico.

“This product will enable customers to convert their cash into digital currency using which customers can enjoy online services including shopping for goods and/or services like Prime Video,” reportedly said one such posting related to Amazon’s “new payment product” (although it has been removed since then).

Another job listing (also removed by now) for software development engineers “at all levels” suggested that Amazon’s product is aimed at emerging markets.

As CryptoSlate reported, Elon Musk’s tech company Tesla has recently revealed its $1.5 billion investment in Bitcoin and plans to support BTC payments in the future. This prompted heated discussions on which major companies are most likely to follow its example and embrace crypto.

The post Amazon, Mastercard look to expand into the crypto space appeared first on CryptoSlate.

Title: Amazon, Mastercard look to expand into the crypto space
Sourced From: cryptoslate.com/amazon-mastercard-look-to-expand-into-the-crypto-space/
Published Date: Fri, 12 Feb 2021 15:32:18 +0000

Tesla made even more cash getting BTC in one day than it did offering autos last quarter

The electric car manufacturer has profited more from its $1.5 billion Bitcoin position in a single day than it did selling cars in Q4 2020. With its massive position pushing BTC’s price up over 23 percent, Tesla made over $365 million dollars between Feb. 8 and Feb. 9.

Tesla’s poor Q4 2020 performance makes BTC its most profitable endeavor

After Tesla announced that it has taken up a $1.5 billion position in Bitcoin, the cryptocurrency market went into what can only be described as a frenzy. The world’s largest cryptocurrency saw its price increase $10,000 in a matter of hours, dragging the rest of the market with it.

And while the entire industry was ecstatic about the massive market gains, it was Tesla that actually turned the most profit on its investment.

Namely, the company saw the value of its investment increase by over 23 percent in a single day. Given the fact that its position was worth $1.5 billion dollars, the profit from the investment comes down to over $356 million.

And while this might not seem like a particularly significant number, it’s more than the company made selling its core product throughout the entire fourth quarter of last year.

According to CNN, the company reported its Q4 2020 adjusted net income of just $270 million. At the time, the numbers were way short of the $780 million net income estimated by Wall Street, which erased a few percent from TSLA’s valuation.

The low net income surprised analysts as the company posted quarterly revenue of $10.7 billion, up 46 percent from the previous year. The adjusted income was up more than 6,700 percent from the modest profit the company posted in 2019, the first-year Tesla actually turned a profit.

The post Tesla made more money buying BTC in one day than it did selling cars last quarter appeared first on CryptoSlate.

Title: Tesla made more money buying BTC in one day than it did selling cars last quarter
Sourced From: cryptoslate.com/tesla-made-more-money-buying-btc-in-one-day-than-it-did-selling-cars-last-quarter/
Published Date: Fri, 12 Feb 2021 15:32:14 +0000

You could win a Tesla by trading just $100 worth of Bitcoin on Crypto.com

Love Tesla and Bitcoin? This competition could be for you. Hong Kong-based crypto exchange Crypto.com has announced a new scheme for users that gives them the chance to win a Tesla electric car if they trade just $100 of Bitcoin.

Founded in 2017, Crypto.com is one of the world’s largest and most used crypto exchange, wallet service, and card platform. It operates out of Hong Kong and trades over $200 million worth of worth cryptocurrencies (over 115 altcoins) each day, as per data from markets app CoinGecko.

And for its users, the Tesla competition is one of the many events the exchange holds throughout the year.

“Trade at least USD 100 of #BTC in the Crypto.com App and you’ll be entered to win one of four Teslas!” said the firm in a recent tweet.

? Planning to buy a @Tesla with #Bitcoin?

? Trade at least USD 100 of #BTC in the https://t.co/vCNztABJoG App
and you’ll be entered to win one of four Teslas!

?️ Start trading now until 8 March
cc @elonmusk

Lucky draw details?https://t.co/wAtMAc7dHF pic.twitter.com/oYmHDHQRs5

— Crypto.com (@cryptocom) February 9, 2021

Up for grabs are the four Tesla models — Model S, Model 3, Model X, Model Y — for users who trade the requisite amount of Bitcoin until March 8.

The move comes on the back of Tesla announcing its mammoth $1.5 billion purchase of Bitcoin last week. As CryptoSlate reported at the time, Tesla also said it expected to begin “accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis.”

But you don’t really need to wait for that if you just win one instead.

Disclaimer: Crypto.com is an advertising partner of CryptoSlate.

The post You could win a Tesla by trading just $100 worth of Bitcoin on Crypto.com appeared first on CryptoSlate.

Title: You could win a Tesla by trading just $100 worth of Bitcoin on Crypto.com
Sourced From: cryptoslate.com/you-could-win-a-tesla-by-trading-just-100-worth-of-bitcoin-on-crypto-com/
Published Date: Fri, 12 Feb 2021 15:32:11 +0000