Earn a Passive Income with Yield Farming in 2021
In this blog, we take a glance at three cryptocurrency projects to calculate what proportion we will potentially earn with yield farming on each in 2021.
We will analyze yield farming profits on the DeFi protocols Curve Finance and Sushiswap, also like team farming on the crypto trading platform Nominex.
For Curve Finance and Sushiswap, we’ll take the foremost profitable strategies, and use the info on the website to calculate yield farming rewards for a $10,000 investment throughout three hundred and sixty-five days.
On the other hand, as yield farming works a touch differently on Nominex, we’ll use the crypto trading platform’s information to calculate our rewards (for an equivalent period and amount of investment).
Curve Finance and Sushiswap
We can make the more potential rewards with:
The USD strategy involves four stablecoins (DAI, USDC, USDT, USD) with a yearly APY of 13.06% on Curve Finance
The YFI Whale strategy has two coins (YFI, ETH) with a yearly APY of 55.34% on Sushiswap
Based on the above data, we could earn the subsequent on Curve and Sushiswap with a $10,000 investment throughout three hundred and sixty-five days with yield farming
Referring to the chart above, both Curve and Sushiswap provide decent returns for farmers, with the latter DeFi platform featuring over fourfold better rates than the prior.
Nominex
Now we can see how Nominex works on Yield Farming,
On Nominex, yield farming involves USDT also because the native NMX cryptocurrency of the platform consists of two elements: personal staking and team farming.
While personal staking provides returns on the coins users have individually contributed to Nominex’s pools, they will earn a further income from the staking activity of their direct referrals with team farming.
To get started with yield farming on Nominex, users need to first contribute both NMX and USDT tokens into the project’s liquidity pools.
After that, users will get NMX tokens that represent their share within the liquidity pool. To earn rewards from team farming and private staking, customers can move the NMX-LP tokens they received to Nominex’s staking pools.
How to calculate the Yield Farming rewards in the Nominex:
No matter what percentage users are staking coins on Nominex, the entire NMX which will be distributed every day to farmers is fixed at 10,000 NMX.
In that above figure is mentioned how Nominex can calculate rewards for both personal and staking and team farming.
Generate an Excellent Passive Income with Yield Farming
As you’ll see, we’ve earned 74,139 USDT worth of NMX coins with yield farming on Nominex, making nearly 6,200 USDT monthly and a complete ROI of over 640%.
While Sushiswap and Curve provided decent returns to farmers, the rewards are over 13 times higher on Nominex, allowing users to get a superb passive income on their staked NMX-LP tokens.
If you’re curious about yield farming on Nominex, we recommend finding out the subsequent page to urge some NMX tokens for staking.
