Cryptocurrency Financial Advisors

Yield Farming With YFI Attracts Profit-Seeking Investors

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Yield Farming with YFI

“Yield farming” is a new iteration of cryptocurrency mining and staking that allows entities to earn an interest rate well above a typical US bank account. Below, find a scenario overviewing how you can use yield farming with YFI.

Scenario: Step 1: Start with $10,000 ETH and open up Uniswap. Convert $9,700 of ETH into DAI with Uniswap.

Step 2: Go to yearn.finance/earn and deposit the $9,700 of DAI into the pool to create (y)Dai tokens and earn a 10% interest rate.

Step 3:  Claim your yDai tokens that were created when you deposited your DAI into the pool.

Step 4:   Deposit and stake the yDai tokens into the curve.fi pool that is labeled “Y,” here: https://www.curve.fi/y.

Step 5: Receive your Curve LP tokens and then stake them at https://ygov.finance/stake to earn YFI.

Step 6: Go to Zerion and monitor your tokens as you are now yield farming YFI tokens!

By Jacob Stelter

Disclosures: Not investment advice. It should be assumed that Sarson Funds or its affiliated managers hold positions in all projects that are discussed. It is not possible to invest in any project directly through Sarson Funds, Inc. or its affiliated managers. Any investment product offered by managers affiliated with Sarson Funds should be assumed to be only available to Accredited Investors and subject to the individual terms and conditions of that offering including but not limited to those eligibility requirements associated with U.S. Securities Regulation D, section 506c. Talk with your financial advisor before making any investment decisions or have them contact Sarson Funds directly at [email protected]

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