YİELD FARMİNG CRAZE
Unique / unchangeable tokens (NFT) are now used by yield farmers looking for new ways to strengthen digital assets through existing Defi and exchange protocols.
Yield farming is the use of cryptocurrency assets by obtaining a return on Invested Capital. It has a lot of markets. Like Compound, Curve, Aave. These provide the simplest way to generate returns.
The term is widely used in the Defi ecosystem, but because collectibles also meet DeFi, the NFT sector is on the agenda.
Rarible.com, a market application where you can print, buy, and Exchange non-traded tokens. Recently, the platform deployed its governance token, Rari, to reward interaction with the platform and increase trading volumes, active wallets.
Rarible.com $ 5.5 million in revenue in September
While Ethereum still faces congestion issues, the” Sunday " category is still highly welcomed in 2020. Significant growth can be seen in both trading volumes and active wallets.
August September volumes were already close to $ 7 million, an increase of 1127% compared to August 2020. The number of active wallets has not increased much.
Activity increased by 776%. That is, volumes produced per active wallet were about $ 10,000 in September. In August, that figure was just over $ 1,200.
81% of the $ 7 million volume ($5.5 million) is a single dApp – Rarible.com created by. This growth was triggered by a new stimulus program, mostly paid for with RARI tokens.
RARI: NFT domain’s first governance token
RARI is the first governance token in the unique token space, designed to reward active creators and collectors in the future of Rarible. The price of the RARI token has risen 814% since its inception and is around $ 5.50 at the time of writing.
75,000 RARI tokens every Monday
Every week, active creators and collectors receive rewards with RARI tokens. 75,000 tokens are issued every Monday – 50% of which is reserved for buyers and 50% for sellers. The current token price is $ 412,000.
Of course, RARI tokens are distributed proportionally to spenders and sellers. So, the more money you put in, the more returns you get.
Reward Paradise: 18% weekly return
The real purpose of the platform is to serve talented artists to create and sell their work in unique tokens. Numerous virtual creations, which could be worth a fortune in the future, are being sold around the world.
DappRadar says they spent a total of $ 900 on unique art tokens in Rarible to test the potential return, while they received a $ 162 RARI token. That is, with the use of the platform, its weekly return can be expected to be about 18%.
Also bearing in mind that wallets receive a proportionate share, returns may be higher.
Result
In September, the collectible products category saw an increase in both trading volumes and active wallets. Most of the activity Rarible.com performed by. The reasons behind this were mainly linked to the Rari incentive program.
Rarible.com this stimulus program in could trigger another wave of yield farming, generating weekly returns of at least 18%.
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