Yield farming is one of the most common practices in the budding DeFi sector of the blockchain and cryptocurrency industry. The practice consists in locking funds for certain periods of time into protocols that reward their users with yields. Many traders and investors develop complicated strategies in order to maximize these returns. However, even as the practice has become very common, it still requires a high level of technical expertise to be done effectively.
This is bound to change with the introduction of services that handle these processes on behalf of users. CROP Finance is a community-owned, cross-chain yield farming platform designed to make DeFi accessible to everyday cryptocurrency enthusiasts. It uses artificial intelligence to get users the best risk-adjusted returns. The team has recently explained how the platform is able to automate yield farming strategies and minimizes risk through diversification, all while saving users 99% on gas fees.
The platform’s native $CROP gives holders access to the network’s governance. As both a BEP-20 and ERC-20 token, $CROP is compatible with the Ethereum blockchain and Binance Smart Chain. The project just launched an Initial DEX Offering for the token on the popular ZeroSwap decentralized exchange with a limited supply of 500 million. Likewise, $3,000 worth of $CROP tokens will be given away to new community members as part of the event.
The decision to launch on an IDO model was made due to CROP Finance’s goal of further democratizing the DeFi space. An IDO avoids the need for a private sale and gives all investors an equal opportunity to participate with access to immediate liquidity.
CEO Hashim Shubbar stated that,
“The team and I believe this approach, along with strong interoperability, will define the space as it continues to grow. It’s time we leave behind private sales and centralized exchanges.”
CROP Finance has had other important developments besides its token launch. The team recently partnered with decentralized fundraising platform Black Dragon and is looking into new strategic partnerships in the near future.
This article was first published on coinquora.com