What is Farming as a Service?
The use of blockchain technology has laid the groundwork for the overwhelming success of Decentralized Finance (DeFi). Due to its popularity, DeFi trading platforms amassed a sizable amount of crypto assets in recent years. One of the growing financial activities in the DeFi space is yield farming which enables the lending of cryptocurrency in exchange for interest. And Coinswap Space has leveled up yield farming by offering Farming as a Service. But what is Farming as a Service?
Farming as a Service on a yield farming pool offers innovative, professional-grade solutions for DeFi via a subscription or pay-per-use model. Some solutions are organized, have efficient reinventions of existing practices, while others are tech-driven innovations to improve the project.
There is no doubt that there are many cryptocurrency traders and investors are showing a high interest in yield farming. And this yield farming boom can be attributed to the debut of the COMP token — the Compound Finance ecosystem’s governance token. While the COMP launch did not pioneer yield farming, it certainly popularized it. Other DeFi projects have since developed innovative ways to attract liquidity to their ecosystems. Several of these yield farming projects include Uniswap Synthetix, MakerDAO, and Curve Finance.
Another important decentralized exchange is Coinswap Space that provides a suite of services to help stakeholders maximize their gains in the DeFi ecosystem, offering yield farming services through which users may easily lend their cryptocurrency and earn rewards in return.