In this lesson you will learn:
- What types of income exist on a decentralized exchange;
- What are staking, farming and liquidity pools;
- What IDO, DAO, NFT and lending are needed for;
- Manual: How to add your coins to staking and earn on it.
Complete the assignments:
- Buy 0.1 BNB in PancakeSwap to your wallet following the manual in the lesson.
- Buy also 25 USDT (or other comfortable amount) of cake coins.
- Put your coins into Staking in the special PancakeSwap section following the manual in the lesson.
Explore helpful resources:
https://dailydefi.org/tools/impermanent-loss-calculator/ — impermanent loss calculator;
https://aave.com/ — earn by lending your crypto;
https://daomaker.com/ — one of the largest IDO platforms;
https://polkastarter.com/ — IDO launchpad in the Polkadot blockchain;
https://bscpad.com/ — IDO in the Binance Smart Chain blockchain;
https://vote.makerdao.com/ — DAO voting portal;
https://opensea.io/ — the first and largest NFT marketplace.
let’s check your knowledge
1. Impermanent loss occurs due to:
- Low yield of a liquidity pool
- Trading pair volatility
- High network commission
2. Liquidity provider is:
- The one who created the smart contract for the liquidity pool
- The one who uses liquidity pools to exchange
- The one who put their funds in the liquidity pool
3. The profitability rate in farming, which is calculated taking into account the reinvestment of earned tokens, is called:
4. If we compare the ways of investing in the DeFi market, then the most profitable will be:
- Coin hold
- Liquidity pool
5. How is the concept of NFT deciphered?
- Non-fake token
- Non-functional token
- Non-fungible token