TokyoSwap Finance - Decentralized Multichain Yield Farm Running on BSC and FTM
Description: Yield farming is the investment in cryptocurrencies or tokens via decentralized apps (DApps) as Tokyoswap.Finance DApp to maximize profits. A proficient yield farmer can not only gain profit from price appreciation in their holdings, but also from yield generated by these holdings. By locking assets in liquidity pools such as the ones found on Tokyoswap.Finance, investors can generate passive income. Most of the yield farming on DeFi is done via liquidity pools. A liquidity pool is a smart contract that holds on to and locks the cryptocurrencies/tokens of investors. Liquidity providers contribute to the liquidity of a trading pair pool, such as TOKYO-BNB, by depositing their crypto (TOKYO and BNB) in the pool, receiving LP (Liquidity Pool) tokens in return. The Annual Percentage Yield (APY) of a liquidity pool generally gives a good indication how much trading fees can be earned in a pool. However, note that these rates are not fixed, and change daily based on historical trading data from the pool. In addition to the previously mentioned ways of making profit, a yield farmer also benefits from price increases of the token that he is using to farm. This is a double-edged sword: value can be lost as the price of the token declines.
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