Defi mining refers to liquidity mining. More commonly, it is the operation method of providing / pledging tokens to obtain other token rewards.
For example, if you have Ethereum in your hand and pledge it to the mining pool (Gold pool), you can get other tokens; Or Ethereum and other token combinations LP can be added to liquidity and pledged to obtain rewards.Digital wallet
Little fox wallet or TP wallet are the entrance of defi mining.
The small fox wallet is more convenient to operate on the computer. After opening the official website of the mining pool, connect the small fox wallet to start the operation. TP wallet is more convenient to operate through mobile phone, and directly enters the DAPP project through TP wallet app.
Novices don't fully understand the mining game. They can first choose the token in their hand to mine. If there is a risk that the mining price may fall, there may be a risk that the mining price may fall.
For example, a coin is needed to dig a mine pool, and it is 10 yuan to buy a coin. After digging for two days, the price of a coin falls to 2 yuan, which increases the risk of falling currency price. If the currency falls sharply, the investment return cycle will be very long, or even zero.
Select the corresponding mining pool for mining from the token held in your hand, transfer the token to your wallet, and pay attention to the same chain for transfer when withdrawing the token, otherwise it may be lost.
1、 Single currency pledge / syrup pools
The simple understanding of single currency pledge is that pledge is a kind of token, which can be locked and pledged or withdrawn at any time. The annualized income varies in different ways.
For example, if you have a cake in your hand, you can use pankcakeswap pancake decentralized exchange for pledge mining. Pledge cake can obtain cake, or TRX, chess, etc., and the corresponding annualized income is also different.
Generally speaking, the larger the total pledged amount is, the larger the pool is, the better the security and stability will be.
Single currency pledge
2、 LP mining / farms
LP mining can be understood as mining with combined currency trading pairs, such as cow mdx, war usdt and other trading pairs. The annualized rate of return of different combinations is also different.
LP mining provides two kinds of currency liquidity and higher income. The annual income of some head mines reaches tens of thousands, but the ultra-high income is generally only one or two hours, and the mining income admitted later drops sharply.
In addition, there is the risk of impermanent loss, that is, if the price of one currency in the trading pair falls or rises too much, it will affect the other currency, because to maintain the exchange balance between the two currencies, the other currency will buy or sell according to the market situation;
If the same proportion rises or falls at the same time, it will have little impact.
LP mining
There are also some new ore pools with very high annualized income. For example, the annualized income of this new coin dino-usdc transaction pair has reached 1276%, and that of dfyn-weth transaction pair has reached 686%.
Of course, high returns must correspond to high risks. There may be problems such as the withdrawal of ore pools or hacker attacks.
LP transaction to annualized rate of return
Whether it is single currency pledge or LP mining, it is preferred to choose stable old projects with endorsement. New projects have high income and high risk. Novices haven't figured out how to play defi mining, so they can start with insurance.
If the bear market comes or the currency price remains unchanged, the pledge of the currency planned to be held for a long time can provide liquidity, which can increase additional income, and 50% annual income is also good
