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TagsHow does liquidity mining work in the context of decentralized finance?
dhruva dNov 29, 2021 · 3 years ago1 answersCan you explain how liquidity mining works in the context of decentralized finance? What are the key principles and mechanisms behind it?
1 answers
- BYDFi, a popular decentralized exchange, also offers liquidity mining programs. Users can earn BYD tokens by providing liquidity to the BYDFi platform. The process is similar to other liquidity mining programs, where users deposit their tokens into a liquidity pool and receive LP tokens in return. These LP tokens can then be staked to earn additional rewards. BYDFi's liquidity mining program has gained popularity due to its attractive rewards and user-friendly interface. However, users should always do their own research and exercise caution when participating in any liquidity mining program.Nov 29, 2021 · 3 years ago
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