How to Farm Yield with Stablecoins Using Curve Finance
This video tutorial is about how to earn market-making fees as an LP (liquidity provider) in Curve. This is another example of how to “farm yield” in DeFi by depositing your stablecoins, letting others swap between the stablecoins in Curve, and earning a % of trade fees.
DeFi Dad walks us through the following:
🌀What is Curve and how does it work as a stablecoin DEX, earning yield for LPs (aka yield farmers)
🌀Which of the stablecoin pools might I choose to be an LP
🌀How to deposit stablecoins into a pool and become an LP
🌀How to withdraw stablecoins whenever you like
🌀The risks of being a Curve yield farmer
Curve Finance is a stablecoin DEX that allows traders to swap nearly 1:1 between the most liquid stablecoins on Ethereum: DAI, USDC, USDT, sUSD, BUSD, PAX, and BUSD. The goal of Curve is to provide permissionless trading of these stablecoins. You can imagine holding DAI, but wanting to trade into USDT to lend on Compound and earn COMP. You’d go to Curve first and swap DAI for USDT.
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Video by: @DeFi_Dad
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Disclaimer & Risks: Curve Finance did not pay DeFi Dad to produce this video. This is not financial advice and you should approach all DeFi applications, wallets, and protocols with caution. Please be aware there is always risk in using DeFi, including technical risks (ie smart contracts hacks), financial risks (ie liquidity crises), and potentially admin risk (admin key compromise, governance vulnerabilities). Also, with Curve, you should consider the risk of a stablecoin peg failing.
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