Introduce

As known before, cryptocurrency is a product of technology, it not only makes transactions convenient and fast, but also helps us manage money and assets conveniently and accurately. Best.
Cryptocurrency tokens, on the other hand, work on a blockchain, they act like it seems investors are also excited to hear about a means to create and support decentralized applications and contracts. smart coins, and it's these tokens that make it so much easier to exchange transactions it's DeFiFarms Protocol that uses NFT to protect your holdings, this can minimize losses impermanent if you think selling NFT will make more money than putting down the deposit .
Overall, the advent of the cryptocurrency market has taken our economy to a new and better page. With DeFiFarms, I believe that will happen even more. Although new to the cryptocurrency market not long ago, DeFiFarms has been growing very strongly, attracting many customers and making other cryptocurrency projects respect.
Currently on social networks there is some information that DeFiFarms is the first protocol to use NFT on the Binance smart chain, many people still sell their trust because if it is true, DeFiFarms is indeed a leading project in the field. technology development Since there are very few cryptocurrencies in the world that can do this, in this article I would like to assure you that the information is completely accurate and true by the leadership of the company. DeFiFarms has voiced verification on DeFiFarms' social networking sites, NFT and Defi have posted information about it. Imagine this is a pear item or level up in traditional games, with NFT your power in Defi will be upgraded and make you have some special benefits over others without NFT which .

About DefiFarms

DefiFarms is a decentralized financial initiative built on the Binance smart chain, the world's fastest growing chain. The DefiFarms project is designed to conquer the DeFi space by expanding on its already amazing capabilities and leveraging the flexibility of blockchain technology to make DefiFarm interoperable across various chains, thereby covering the huge populous of the burgeoning DeFi sector without limitations. DefiFarms also has a non-fungible tokens (NFTs) protocol, which allows DefiFarms users to trade NFTs and stake with Defifarms tokens and their NFTs.

What is NFT?

NFT stands for “Non-fungible token”, which is a unique token that cannot be replaced by another NFT. NFTs typically represent some sort of digital asset, or tokenized asset from the real world.
The early days of NFT associated with the name CryptoKitties caused a stir in the market when it clogged the Ethereum network at the end of 2017. Now after more than 3 years of growth, the NFT ecosystem has gradually improved with many diverse pieces.

The NFT market still has the problem that the number of transactions increased, but the value of each transaction started to decrease due to the influence of the general correction of the whole market. In the first 11 days of May, nearly $15 million was traded every day. However, shortly after that, the volume dropped rapidly to less than $6 million per day.
Despite this, the field is still attracting the interest of more and more big names such as Outlier Ventures, Digital Finance Group, Morningstar, Blockhype, Spark Digital Capital, CEO of mobile developer Altitude Games Gabby Dizon and co-founder Polygon (Matic), Sandeep Manicure.
Especially with the launch of Binance's NFT Marketplace in June, NFT will still maintain the heat in the near future, not just a trend that soon blooms and fades away.

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.
DeFiFarms not only possesses many outstanding advantages over Centralized Exchanges, but also has the potential to bring more attractive profits than current Decentralized Exchanges and Yield Farming platforms.

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. Instead of stakes fixed in the user’s wallet, it is linked to the attestation document so that the NFT is transferable. Meaning, when you become a Liquidity Provider and reserve your tokens, you not only earn rewards, but also receive NFTs of equal value. This is called NFT Farming.

By using NFT, DeFiFarms allows stakes to be more dynamic. Instead of a stake being tied to a user’s wallet address, it is linked to a proof of ownership, transferable NFT. Meaning, when you become a Liquidity Provider and stake your tokens, you not only earn rewards but also receive an NFT of equivalent value. This is called NFT Farming.
In detail, DeFiFarms adds a new layer of possibility to Liquidity Providers and Yield Farmers by letting them “move around” locked values of Liquidity Providers Token.
When you stake your DEFIY/BNB liquidity tokens in the DeFiFarms platform, the LP tokens are locked in the staking contract, but the value is not. The protocol will mint an NFT at the time of staking which will wrap the value you have locked in a transferable ERC-721 token, an NFT. Your stake will be stored on-chain in the metadata of this NFT. There’s no need to unstake your locked assets, when you decide you no longer want to be a liquidity provider, you can go on the market and trade that NFT for the market value of the LP tokens along with the accrued rewards.

Holders Of Defifarms Tokens Can Earn Passive Income

The 5 percent deposit fee redistribution incentive scheme allows DefiFarms token holders to gain passively. Holders of the DEFIY token will earn a portion of the 5% deposit fee on every single staking deposit on the DefiFarms staking platform, with 4 percent of the 5% split amongst token holders, ensuring little sell pressure as holders can withdraw their passive income without having to empty their pockets to profit, adding value to the price of DEFIY as there are more DEFIY holders.

DefiFarms Is Consist Of Industry Leading Team

The fantastic team assembled was one of the things that gave me much trust in the Defifarms project. A couple of world-class specialists have gathered together to create a revolution in the Defi area. The group is built upon specialists from many areas of life. Cesar Deandre is the company's CEO and co-founder. He is leading the project in grand style. You may learn more about the team members by connecting with them through their Linkedin profiles.

When I look at the market as a whole, I see many projects emerging as anonymous, although we certainly do not encourage investing in projects that are anonymous, know more characteristics such as personal name, activity they will do, where do they come from. This way, even though your investments aren't small, you'll know where you've invested your money and you'll have peace of mind knowing that your investment will pay off for you. There's no need to lie to me much. Now, if you want, let me start telling you about the DeFiFarms Protocol project and slowly start talking about the kind of research and features it will bring.
Surely through the above article you have somewhat understood about DeFiFarms, and more specifically the development of NFT in DeFiFarms Protocol, this is one of the important points to pay attention to in this project, and if you want to invest project even more necessary. I hope my article will be of help to you.

Follow our Project to learn more

Website : https://defifarms.org/
Whitepaper: https://drive.google.com/file/d/16rlbSp4cd_RpGDuPp7VPBpKeGTJ8_yYb/view?usp=sharing
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

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