[{"data":1,"prerenderedAt":325},["ShallowReactive",2],{"api/learn-center-post-en-GB-what-is-yield-farming":3,"en-gb/learn/web3/what-is-yield-farming-en-GB-seo":56,"footer-en-GB":61,"navigation-en-GB-learn-center":234,"api/learn-categories-en-GB":285},{"seo":4,"locale":28,"breadcrumbs":29,"excerpt":37,"featuredImage":38,"components":39,"title":5,"formattedPublishedAt":50,"geofencings":51,"category":52,"pagination":54,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"What is yield farming?","What is yield farming?  - Bitstamp Learn Center","What is yield farming? How does yield farming work? Read our guide to yield farming on Bitstamp by Robinhood – the original crypto exchange.",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/What_is_yield_farmingpng_2a30dd229f_af8d14fcc1.png","image/png",".png",1920,1080,"What_is_yield_farmingpng_2a30dd229f.png","",[],[20,23,26],{"pathname":21,"locale":22},"/learn/web3/what-is-yield-farming/","en",{"pathname":24,"locale":25},"/es/learn/web3/what-is-yield-farming/","es",{"pathname":27,"locale":28},"/en-gb/learn/web3/what-is-yield-farming/","en-GB",[30,34],{"id":31,"text":32,"url":31,"asUrl":33},"/learn/web3/","Web3",true,{"id":35,"text":5,"url":27,"asUrl":36},"what-is-yield-farming",false,"\u003Cp>Yield farming is the use of cryptocurrencies to generate, earn, and collect crypto rewards.\u003C/p>\n",{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},[40],{"component":41,"props":42,"content":43,"secondaryContent":47,"ctas":48,"secondaryCtas":49,"ctasNoMarginTop":36},"section.full-text",{"centered":36,"withoutSectionContainer":36},{"text":44,"width":45,"align":46},"\u003Cp>Yield farming is the use of cryptocurrencies to generate, earn, and collect crypto rewards.\u003C/p>\n\u003Cp>In more familiar terms, yield farming allows investors to earn crypto like one might earn interest on money in a bank savings account. This example highlights \u003Cem>passive yield\u003C/em>, in which an asset holder can put money in an interest-bearing account and allow the system to pay them at regular intervals.\u003C/p>\n\u003Cp>However, the term \u003Cstrong>yield farming\u003C/strong> implies a more \u003Cem>active\u003C/em> process. Though the term originally described the metaphorical process of “planting” crypto in a protocol to “grow” and then “harvest” the earned crypto, it also conveniently describes how many DeFi users mimic the behavior of real farmers by \u003Cem>rotating their crops\u003C/em>.\u003C/p>\n\u003Cp>Yield farmers often move their assets from protocol to protocol, or even from chain to chain, to take advantage of the highest yields. These yields are measured in \u003Ca href=\"/en-gb/learn/crypto-trading/what-is-compound-interest/\">annual percentage rate (APR) or annual percentage yield (APY)\u003C/a>. The key distinction between the two is that only APY factors compounding interest into the gain rate.\u003C/p>\n\u003Ch2>Where does the yield come from?\u003C/h2>\n\u003Cp>This depends on what function a user’s deposited crypto is serving. The majority of naturally generated yield comes from transaction fees, \u003Ca href=\"/en-gb/learn/crypto-101/what-are-blocks-in-the-blockchain/\">block production\u003C/a>, protocol fees, or interest paid by borrowers of digital assets.\u003C/p>\n\u003Cp>However, many \u003Ca href=\"/en-gb/learn/web3/what-is-decentralized-finance-defi/\">DeFi\u003C/a> platforms initially boosted their yields using venture capital, supplementing organic ecosystem payouts in order to attract yield farmers and drive adoption. This trend among DeFi platforms decreased and, crucially, preceded the rise of CeFi institutions looking to replicate the high rates of growth found within DeFi in the latter's earlier days.\u003C/p>\n\u003Ch2>How does yield farming work?\u003C/h2>\n\u003Cp>Yield farming consists of ‘farmers’ using their funds in one of three main methods: \u003Cstrong>\u003Ca href=\"/en-gb/learn/blockchain/what-is-staking/\">staking\u003C/a>\u003C/strong>, \u003Cstrong>\u003Ca href=\"/en-gb/learn/web3/what-is-decentralized-lending-and-borrowing/\">lending\u003C/a>\u003C/strong>, and \u003Cstrong>providing liquidity\u003C/strong>. By providing one of these services with their crypto, users are granted the opportunity to earn a portion of fees, interest, or rewards and collect new crypto (mostly) in real time.\u003C/p>\n\u003Ch3>Staking\u003C/h3>\n\u003Cp>Staking is the process of allocating \u003Ca href=\"/en-gb/learn/crypto-101/what-is-cryptocurrency/\">cryptocurrency\u003C/a> to a \u003Ca href=\"/en-gb/learn/crypto-101/what-is-proof-of-stake-pos/\">Proof of Stake network\u003C/a>—like \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-ethereum-eth/\">Ethereum\u003C/a>, \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-cardano-ada/\">Cardano\u003C/a>, or \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-solana-sol/\">Solana\u003C/a>—to secure the \u003Ca href=\"/en-gb/learn/blockchain/what-is-a-blockchain/\">blockchain\u003C/a> and validate transactions on the network. Locking coins in a blockchain’s smart contract for the purposes of staking often gives a lower, but reliable, yield.\u003C/p>\n\u003Cp>\u003Cstrong>Of note\u003C/strong>, many of these smart contract platforms have an unlock period for staked assets. This means that it could take days or weeks to unstake coins after deciding to withdraw those funds, which would slow down the process of farming.\u003C/p>\n\u003Ch3>Lending\u003C/h3>\n\u003Cp>Lending cryptocurrencies to other users is a common practice in DeFi. By lending your tokens to borrowers, you earn the right to collect interest from them.\u003C/p>\n\u003Cp>This mirrors the traditional financial system, but the rates are set almost exclusively by supply-and-demand dynamics rather than by third party institutions.\u003C/p>\n\u003Ch3>Providing liquidity\u003C/h3>\n\u003Cp>\u003Ca href=\"/en-gb/learn/web3/what-is-a-decentralized-exchange-dex/\">Decentralized exchanges (DEXs)\u003C/a> often use an automated market making (AMM) system centered around liquidity pools. Liquidity providers contribute to these pools by depositing cryptocurrencies for traders to swap against, while paying a small fee for the service. These fees are then distributed to all liquidity providers.\u003C/p>\n\u003Cp>Liquidity pool rewards can be paid in the form of pool assets (e.g., \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-the-dai-stablecoin/\">DAI\u003C/a> in an ETH/DAI pool), or in the form of a platform’s unique token (e.g., UNI for Uniswap). Some protocols even issue liquidity provider (LP) tokens to depositors, and these LP tokens can be staked on the platform for compounded rewards.\u003C/p>\n\u003Ch2>Yield farming process\u003C/h2>\n\u003Cp>Imagine a lending protocol that offers 5% APY on the DAI \u003Ca href=\"/en-gb/learn/crypto-101/what-are-stablecoins/\">stablecoin\u003C/a>. A user can deposit 100 DAI to take advantage of that yield.\u003C/p>\n\u003Cp>However, they learn that a DEX offers 8.5% APY for DAI deposited into a liquidity pool. Because the user wants to optimize their crypto rewards, they move their 100 DAI from the lending protocol to the DEX.\u003C/p>\n\u003Cp>If the DEX’s DAI APY ever goes below 5%, they can rotate their original purchases, plus earnings, back into the lending protocol. In doing so, they become a \u003Cem>yield farmer.\u003C/em>\u003C/p>\n\u003Ch2>What are some dapps that can be used for yield farming?\u003C/h2>\n\u003Cp>\u003Cstrong>Staking\u003C/strong> is possible on multiple blockchains including Ethereum, Cardano, \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-polkadot-dot/\">Polkadot\u003C/a>, Solana, Polygon, and \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-avalanche-avax/\">Avalanche\u003C/a>. Unlike other yield generating practices, staking is not always reliant on a specific \u003Ca href=\"/en-gb/learn/crypto-101/what-are-decentralized-applications-dapps/\">decentralized applications (dapps)\u003C/a> and instead can be performed through a wallet or by directly interacting with a \u003Ca href=\"/en-gb/learn/crypto-101/what-are-smart-contracts/\">smart contract.\u003C/a> Some platforms even offer staking by delegating if users are not able to provide enough capital to meet the minimum staking requirement.\u003C/p>\n\u003Cp>For \u003Cstrong>lending\u003C/strong>, two of the most popular platforms are \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-makerdao-mkr/\">Maker\u003C/a>, who offers overcollateralized crypto-backed loans of its DAI stablecoin, and \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-aave/\">Aave\u003C/a>, which offers a rich marketplace for lending and borrowing many different cryptocurrencies.\u003C/p>\n\u003Cp>Decentralized exchanges that use AMMs create the opportunity for users to \u003Cstrong>provide liquidity\u003C/strong>. These include Curve’s stablecoin DEX, Uniswap, Sushiswap, Compound, and Balancer. Each of these differs in how it rewards its users for becoming liquidity providers, and all offer rewards in their own tokens to drive further use of the platforms.\u003C/p>\n\u003Cp>Further, it is worth mentioning three dapp aggregators that can be used to track blockchain data and find the best farming opportunities:\u003C/p>\n\u003Cul>\n\u003Cli>\u003Cp>\u003Ca href=\"https://dappradar.com/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">\u003Cstrong>DappRadar\u003C/strong>\u003C/a> – a website that collects information about dapps according to blockchain and category.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Ca href=\"https://defillama.com/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">\u003Cstrong>DeFi Llama\u003C/strong>\u003C/a> \u003Cstrong>and\u003C/strong> \u003Ca href=\"https://www.defipulse.com/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">\u003Cstrong>DeFi Pulse\u003C/strong>\u003C/a> – websites that focus specifically on DeFi platforms and track important information like total volume locked (TVL) and yield offerings.\u003C/p>\n\u003C/li>\n\u003C/ul>\n\u003Ch2>Yield farming essentials\u003C/h2>\n\u003Cul>\n\u003Cli>\u003Cp>Yield farming is similar to finding the bank account with the highest interest rate; it involves choosing DeFi protocols with high gains and locking crypto in them.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>There are three primary ways to generate yield through using cryptocurrency: staking, lending, and providing liquidity.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>Whereas staking can be accomplished by interacting directly with a blockchain platform or through delegation, lending is done through protocols like Maker and Aave, and DEXes like Curve and Uniswap offer the opportunity to provide liquidity to generate yield.\u003C/p>\n\u003C/li>\n\u003C/ul>\n","full","left",{"text":17},[],[],"July 29th, 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Kingdom",{},{},{"title":194,"content":17,"items":195},"Contact",[196,201,205,209,213,217,222,227],{"noFollow":36,"isExternal":36,"name":197,"value":198,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":199,"geofencings":200},"Customer support","/customer-support/",{},{},{"noFollow":36,"isExternal":36,"name":202,"value":202,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":203,"geofencings":204},"info@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":206,"value":206,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":207,"geofencings":208},"press@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":210,"value":210,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":211,"geofencings":212},"support@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":214,"value":214,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":215,"geofencings":216},"complaints@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":218,"value":219,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":220,"geofencings":221},"+44 20 3868 9628","+442038689628",{},{},{"noFollow":36,"isExternal":36,"name":223,"value":224,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":225,"geofencings":226},"+1 800 712 5702","+18007125702",{},{},{"noFollow":36,"isExternal":36,"name":228,"value":229,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":230,"geofencings":231},"+352 20 88 10 96","+35220881096",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"items":235,"ready":33,"platformButtonText":281,"backButtonText":282,"logInButtonText":283,"signUpButtonText":284},[236,241,247,250,254,259,264,267,272,277],{"headerName":237,"sidemenuName":118,"url":238,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":239,"submenu":240,"tag":17},"Institutions","/en-gb/institutional-trading/",{},[],{"headerName":242,"sidemenuName":242,"url":243,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":244,"submenu":245,"tag":246},"Derivatives","/perpetual-futures/",{},[],"NEW",{"headerName":133,"sidemenuName":133,"url":134,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":248,"submenu":249,"tag":17},{},[],{"headerName":251,"sidemenuName":251,"url":106,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":252,"submenu":253,"tag":17},"Mobile App",{},[],{"headerName":255,"sidemenuName":255,"url":256,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":257,"submenu":258,"tag":17},"Markets","/markets/",{},[],{"headerName":260,"sidemenuName":260,"url":261,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":262,"submenu":263,"tag":17},"Earn Stake","/en-gb/crypto-staking/",{},[],{"headerName":110,"sidemenuName":110,"url":111,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":265,"submenu":266,"tag":17},{},[],{"headerName":268,"sidemenuName":268,"url":269,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":270,"submenu":271,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":273,"sidemenuName":273,"url":274,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":275,"submenu":276,"tag":17},"Learn","/learn/",{},[],{"headerName":278,"sidemenuName":278,"url":106,"noFollow":36,"showInHeader":36,"showInSidemenu":33,"geofencings":279,"submenu":280,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[286,290,294,298,302,306,310,314,318,322],{"title":287,"url":288,"geofencings":289},"Blockchain technology","/en-gb/learn/blockchain/",{},{"title":291,"url":292,"geofencings":293},"Company profiles","/en-gb/learn/company-profiles/",{},{"title":295,"url":296,"geofencings":297},"Crypto 101","/en-gb/learn/crypto-101/",{},{"title":299,"url":300,"geofencings":301},"Crypto definitions","/en-gb/learn/crypto-definitions/",{},{"title":303,"url":304,"geofencings":305},"Crypto trading","/en-gb/learn/crypto-trading/",{},{"title":307,"url":308,"geofencings":309},"Cryptocurrency guide","/en-gb/learn/cryptocurrency-guide/",{},{"title":311,"url":312,"geofencings":313},"People profiles","/en-gb/learn/people-profiles/",{},{"title":315,"url":316,"geofencings":317},"Security","/en-gb/learn/security/",{},{"title":319,"url":320,"geofencings":321},"Tutorials","/en-gb/learn/bitstamp-tutorials/",{},{"title":32,"url":323,"geofencings":324},"/en-gb/learn/web3/",{},1775055467308]