November 28, 2022

BSC & Polygon Daily Yield Farms & DeFi Updates

BSC DaPPs are smart contracts built on the Binance Smart chain. BNB is the currency used to engage in the different smart contracts. DaPPs refer to Decentralized Applications. The most popular extension to interact with these dapps is MetaMask. High Risk ROI dapps are smart contracts that use a “first in, first to get paid” system. Yield Farming / Staking are smart contracts that use your crypto currency as liquidity for the market. In exchange, you are paid a portion of the transaction fees. Liquidity pools deal with impermanent loss while staking is simply subject to price depreciation. DeFi is short for Decentralized Finance and entails everything written above as well as many other topics. Its IMPORTANT to do your own research.