🐐GOAT Farming Protocols

the OGs, the true chads of france

Yield farmers will often use a variety of different DeFi platforms to optimize the returns on their staked funds. These platforms offer variations of incentivized lending and borrowing from liquidity pools. Here are some of the most popular yield farming protocols:

Aave

Aave is an open source non-custodial decentralized lending and borrowing protocol to create money markets, where users can borrow assets and earn compound interest for lending in the form of the AAVE (previously LEND) token. Aave has the highest TVL locked among all DeFi protocols, sitting at over $21 billion as of August 2021. Users can earn up to 15% APR for lending on AAVE.

Compound

Compound is a money market for lending and borrowing assets, where algorithmically adjusted compound interest rate as well the governance token COMP can be earned. It is audited and reviewed to ensure the highest level of security standard. Total supply is over $16 billion as of August 2021 and APY range from 0.21% to 3%.

Curve Finance

Curve Finance is a DEX that lets users and other decentralized protocols exchange stablecoins with low fees and low slippage using its unique market-making algorithm. It is the largest DEX in terms of TVL, with over $9.7 billion locked. Base APY can go as high as 10%, while rewards APY can go over 40%. Stablecoin pools are generally safer as they do not lose their peg value.

Uniswap

Uniswap is a hugely popular DEX and AMM that enables users to swap almost any ERC20 token pair without intermediaries. Liquidity providers must stake both sides of the liquidity pool in a 50/50 ratio, and in return earn a proportion of transaction fees as well as the UNI governance token. There are two live versions – Uniswap V2 and V3. The latest version, Uniswap V3, is a growing protocol ecosystem with over 200 integrations. TVL is $5 billion for V2 and over $2 billion for V3 as of August 2021.

SushiSwap

SushiSwap is a fork of Uniswap, which caused a huge wave in the community during their liquidity migration process. It is now a DeFi ecosystem, with multi-chain AMM, lending and leverage markets, on-chain mini Dapps, and a launchpad. TVL on the platform is $3.55 billion as of August 2021.

PancakeSwap

PancakeSwap is a DEX built on the Binance Smart Chain (BSC) network for swapping BEP20 tokens. Like other DEXs, PancakeSwap uses an automated market maker (AMM) model where users trade against a liquidity pool. It has the highest TVL among BSC protocols, with over $4.9 billion locked as of August 2021. It focuses heavily on gamification features, with lottery, team battles and NFT collectibles. APYs can go as high as over 400%.

Balancer

Balancer is an automated portfolio manager and trading platform. Its liquidity protocol distinguishes itself through flexible staking. It doesn’t require lenders to add liquidity equally to both pools. Instead, liquidity providers can create customized liquidity pools with varying token ratios. Over $1.8 billion is locked as of August 2021.

Yearn.finance

Yearn.finance is an automated decentralized aggregation protocol that allows yield farmers to use various lending protocols like Aave and Compound for the highest yield. Yearn.finance algorithmically seeks the most profitable yield farming services and uses rebasing to maximize their profit. Yearn.finance made waves in 2020 when its governance token YFI climbed to over $40,000 in value at one stage. Users can earn up to 80% APY in Yearn, and $3.4 billion is locked in the protocol.