Yield Farms in Gaming (5-9-23)
- Despite the bear market, games are still building. This means projects will continue to incentivize users to support their project. One popular way to do that is yield farming crypto.
- For those who are new, yield farming is the process of investing your tokens or NFTs in protocols (primarily DeFi platforms) to generate yield. The activities include joining liquidity pools, staking, borrowing or lending.
- Projects typically create these opportunities either to 1) attract liquidity, 2) incentivize HODLing or to 3) distribute token ownership to a wider base in an effort to decentralize. They provide incremental yield by awarding tokens to depositors (or stakers).
- Each week we will be breaking down some notable Web3 gaming yield farming opportunities.
- One of the main ways to generate yield using gaming tokens is to invest in liquidity pools (LP) and then depositing your LP tokens into a “farm” operated by a DEX. Below you can find notable Web3 gaming farms.
- The highest yielding farm is $SQUAD at 139.3% with $49,138 of liquidity. Other notable farms include Step App, Ultimate Champions, and Meta Apes.
- You can find these farms at Pangolin and Pancake Swap.
- Usually, you can find staking opportunities directly on the games website. We have compiled a list of selected games with staking APY and the time you are required to lock it up.