Introduce

You know, the cryptocurrency market is growing stronger and stronger and this has made it receive great attention of all people in the world, especially entrepreneurs and investors. In recent times, the economy suffered a severe downturn and holding cryptocurrencies became necessary as a hedge against inflation.
A few years ago, it was difficult to own a cryptocurrency, but this has changed in recent years. Most electronic money trading floors are currently supporting Crypto services for users, since then some issues such as registering, transactions, v.v. For electronic money trading floors has become more popular and easier. And more and more new projects are created based on NFTS and Defi applications. Today I will introduce to you a project called DeFiFarms. This is the perfect combination of Defi and NFT.

The first DeFiFarms protocol on the Binance smart chain uses NFT to make yield farming more secure and resilient by creating the first convertible stake. The DeFiFarms protocol uses NFT technology to wrap your shares, which you can burn to destroy or you can simply sell on our electronic marketplace. This can minimize impermanent losses if you think selling NFT will make more money than deposit. The special feature of this project is NFTs security software. When you place a bet, we will create an NFT that ends your bet. This NFT serves as the key to unlock your account.

Role of NFT in DeFiFarms

DeFiFarms is one of the yield farms with NFTs protocol that automatically buys back, mines and creates automatic liquidity, this is also an AMM decentralized exchange running on the Binance Smart Chain platform.
Compared to DeFiFarms Decentralized Exchange, the project has more attractive profit potential

DeFiFarm’s staking process will be the same as most DEXs today plus a new innovation powered by NFT. By using NFT, DeFiFarms allows stakes to become more dynamic. DeFiFarms is linked to attestation documents for NFT transfers Instead of a fixed deposit in the user’s wallet. Meaning, if you are a liquidity provider and place your notification code, you will earn rewards and receive NFTs with equal values. This is called NFT Farming.
In other words, DeFiFarms adds a new layer to Liquidity Providers and Yield Farmers earn more by allowing them to “move around” locked values ​​of the Liquidity Providers Token (LP Token).
When your wallet has a certain amount of DefiY / BNB liquidation notification code in the Defifarks platform, the LP notification code is locked in the contract, but their value is not necessary. At the time of staking, the system will generate a new NFT, protecting the digital asset locked inside it.
This property will be stored on the string in this NFT metadata. After that, you can participate in the electronics and NFT transactions. When you or the end user unsubscribe, using NFT as proof of ownership, the NFT will be burned and the deposit plus unconverted rewards will be transferred back to your wallet.

Summary

In short, DeFiFarms is the world’s first DeFi ecosystem with Binance smart chain farming NFT protocol. Defifilalarm inherited all creative functions from non-central financial foundations such as ammic exchanges supported by liquidity, non-centralized transactions, and adding new amazing functions Use NFT. Defifarms are bringing to the Defi table a lot of revolutionary solutions focusing around ERC-721, the standards of the notable tok code.. Above is some information of DeFiFarms. Please follow my articles to know more about this project.

Follow us:
Website : https://defifarms.org/
Telegram : https://t.me/DeFiFarmsNFT
Media : https://t.me/DefifarmsNFTs
Twitter : https://twitter.com/DeFiFarmsNFTs
Medium : https://medium.com/@DeFiFarmsNFTs
Githud : https://github.com/defifarms
Username: Brown36
Link:https://bitcointalk.org/index.php?action=profile;u=2785648
BSC Wallet: 0x14B114E8546a8F6383727e7BC0a7bC72E1cA5ED4