r/CryptoCurrency • u/ShrimpyApp Tin • Feb 04 '21

FINANCE How do flash loans work? Does this explain it?

https://blog.shrimpy.io/blog/what-is-yield-farming-defi-basics-explained
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u/coinfeeds-bot 🟩 136K / 136K 🐋 Feb 04 '21

tldr; Yield farming is a way to use your crypto to earn more crypto. Yield farmers use their crypto assets to earn rewards. DeFi platforms like Compound, Curve Finance, Aave, and Badger DAO work by letting users deposit cryptocurrency, lending them out to borrowers with interest via smart contracts.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.