The cryptocurrency landscape offers innovative ways to generate passive income beyond simple hodling. Two prominent methods are staking and yield farming, enabling investors to earn rewards on their digital assets.
Staking How it Works: Staking involves locking up your cryptocurrency within a blockchain's network to support its operations. In return, you earn rewards in the form of the native cryptocurrency.
Top Protocols: Ethereum (ETH): The industry leader, offering staking rewards and contributing to network security. Cardano (ADA): Known for its focus on sustainability and research, providing competitive staking rewards. Polkadot (DOT): A unique blockchain enabling interoperability, with attractive staking yields. Cosmos (ATOM): Facilitates communication between blockchains, offering staking rewards for supporting its network.
Yield Farming How it Works: This involves lending or providing liquidity to decentralized finance (DeFi) protocols. In return, you earn rewards in the form of the platform's native tokens or other cryptocurrencies.
Top Protocols: Aave: A leading lending and borrowing protocol offering competitive interest rates. Compound: A decentralized money market protocol enabling users to earn interest on crypto assets. Curve Finance: A stablecoin exchange and liquidity pool, offering high yields on stablecoin deposits.
Omnify crypto blog is focused on bringing you all the latest news about crypto, blockchain, and digital assets from Omnify. Along with the state of the crypto payments, crypto bridges, and crypto deposits industries. Omnify is a multi-chain open-source app deployed on many blockchain networks like Ethereum, OP Mainnet, Arbitrum, Polygon.
