WoxDeFi and the real possibility of earning interest by participating in Staking and liquidity mining
Once again friends of #Steem welcome to my blog, today I want you to join me in reading a brief focus on the world of cryptocurrencies specifically on DeFi technology, which in my opinion is the most complex to understand, and although in many ways it resembles the stock market more however, in order to succeed in decentralized finance we must first understand a number of technical financial concepts.
In general terms in decentralized finance to make money seems to be a chimera, for large investors DeFi is a mere slogan without much significance, but it is implicit to attract and arouse greed in people who lack financial technical fundamentals, assertions that in my opinion do not represent the true essence of decentralized finance where beyond the implicit risks can still capitalize resources by generating interest through staking and yield farming.
The first thing to keep in mind in the DeFi world is that there are platforms that offer these financial options based on smart contracts and protocols specially created for such purposes, where you can participate by injecting liquidity to these projects and capitalize attractive interests and thus increase our capital within the cryptocurrency market.
One element to highlight is that hundreds of these DeFi platforms seek to execute methods of burning the so-called native tokens, which in effect is a very common strategy within the cryptocurrency market, in which process they seek to stabilize the price of a given token with the objective of maintaining its value in a range that allows them to capitalize profits and at the same time attract new investors.
It is worth mentioning, that in our blockchain run DeFi platforms such as WoxDefi which namely also has several liquidity pools, this platform has the same principle of decentralized finance as it allows individuals or potential investors to deposit digital economic resources that give the protocol a backing of the funds it exchanges.
To close, the smart contract services provided by WoxDefi offer us the real possibility of injecting liquidity and receiving attractive economic interests, which may vary according to the method and time in which we decide to participate, either in Staking or liquidity mining.
SOURCES CONSULTED
CoinDesk What Is DeFi?. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Salmanzafar.me
I have grown to know about defi and it ecosystem simply because of Wox defi. I am really happy that I partake in this journey, it has really allows me to learns a lot about defi.
Hello @tfame3865
Glad to hear that, we all have something to learn always from these new projects.
Best regards, be well.
hello @lupafilotaxia,
Defi systems are an excellent option for earning money with compound interest, if the platform is stable and the development team is committed to the community they are trying to develop, investing in Defi systems can be a great option for earning compound interest.
Hi @trabajosdelsiglo
When the project has a good team behind it, investing in systems can be an excellent option to gain interest and capitalize on extra resources.
Best regards, be well.
DeFi has provided us with many platforms. The WoxDeFi platform obviously has a huge potential and one can make extra income by staking and mining in the platform. I have hope that WoxDeFi will become huge in the crypto space, so we need to give it the support we can.
Excellent read buddy
Hi @samminator
Hopefully as time goes by WoxDeFi will become a huge platform in the crypto space.
Best regards, be well.
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Hi @lupafilotaxia
Before entering into any business it is really best to study it, because it is a way to minimize risks. Even so, studying thoroughly, we could lose money, because in any business there is always that possibility.
But, knowing about DeFi is a good way to enter a very interesting world, risky yes, but that allows many advantages over the banks.
Wox defi is an example, it is a good way for those who want to start in this decentralized financial world.
Hi @josevas217
That's right, the risk element is something we should always keep in mind when deciding to invest in any DeFi project, regardless to the team of developers behind these projects we should always investigate.
Best regards, be well.
The APR on WOXDEFI is amazing, it wouldn't be the best decision to ignore these reward rates.
Hi @joelagbo
I think the adjusted APRs are good compared to the previous ones.
Best regards, be well.
hello @lupafilotaxia, no doubt that the Defi are an excellent investment alternative , it is important to be able to analyze well where you can place our resources, the Woxdefi is a very attractive platform and I hope it can benefit many people .
thank you very much for sharing
Hi @dgalan
That's right, Defi's are an excellent investment alternative, the truth is that before investing first we must investigate and know the risks.
Best regards, be well.
I like the high APY and I am already invested however I am not sure as to how to check what my investment is worth.
are you aware of an easy way to check both the current value of our investment in the wox-trx pool prior to the app launch and secondly
The state of our staked wox.
Looking for something similar to what we see in pancakeswap staking pool when we log in.
Hello @lupafilotaxia
I have high hopes for WOX exchange and the team behind it. I believe it can be a successful bridge between Tron& Steem chains, then It can even bring some next-level big investors!
Thanks for sharing :)