DeFi canteen is coming. Now DeFi farmers can farm Yam, Onion, Shrimp and then make them into a plate of seafood spaghetti. If you want something to refresh after the big meal, you can also farm some fruit like grape, pineapple, etc. What about having an ice cream as well?
It is crazy and fun. It is a time for farm or harvest? Will the harvest become 0 if there is a storm?
Today, we want to give you some brief information about 8 “food” DeFi. Please be careful about the safety of your fund.
Yam is the hottest DeFi farming product after YFI. The highest LTV is 600 million USD. Both of its LTV, trading volume and token price fluctuated like a roller coaster. After an irreparable bug, its token price $YAM fell from $160 to $0.2. What is happening? Check here - Yam Finance in Two Days: $1B Volume, Community’s Rescue, and The Forever Locked $750K.
YAM V2 is developing now. See people’s opinion in this hot discussion - (If) Yam 2.0 is coming, you: 1. can't wait to farm 2. won't spend a penny in it.
The token of Spaghetti is $Pasta. Launched on 17th Aug, its volume reached the highest at 181.76M on 19th Aug and then dropped all the way down, so as its token price. See the high correlation of token price and its DeFi data here.
(The black line indicates the $pasta token price)
Learning from the Yam bug accident, Spaghetti decided to not giving out DAO governance as it may waste a long time for the community to vote on important decisions under DAO governance.
Cream DeFi offers staking and lending of a lot of ethereum DeFi tokens, eg, COMP, BAL, YFI, yCRV, LINK, LEND, etc. And CRV is supported recently.
When you open the Shrimp website, you will definitely say "Isn't this Yam?". The website UI is just a copy and paste of Yam Finance.
The difference is in Shrimp, you can not only stake those popular DeFi tokens, but also some less well-known tokens eg, DICE, CREAM.
Melon is founded in 2017. It was not trying to be a “food” DeFi, so you will see that its logo is quite different from those DeFi dapps above. Melon is an Ethereum-based protocol for decentralized on-chain asset management. It is a protocol for people or entities to manage their wealth & the wealth of others within a customizable and safe environment. So it is not a DeFi farming product.
$CHOP is the token of Porkchop. It is a deflationary token. When you buy or send $CHOP, 1% of $CHOP token will be burnt forever. The team is planning to develop a liquidity staking pool to be a real DeFi product.
Meme is not born to be a DeFi. From contract deployed, airdrop done, and liquidity locked - all in under 30mins. Looking at its don’t buy button on its website, many people feel that Meme is an ironic social experiment.
You can farm Tacos in Shrimp, the DeFi product we mentioned above. $TACO is a deflationary currency. Every Tuesday, a weekly Taco King will be voted and he/she will be rewarded with $TACO. And every day, a percentage of $TACO will be burnt forever.
Are you enjoying the big meal?
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