DeFi Yield Farming Easier than Ever: Cocoricos Skyrockets Mainstream Adoption

In the world of decentralized finance, the practice of yield farming as a crypto investment strategy has gained maximum traction in 2020. According to the latest available estimates, the total locked value of liquidity pools in all yield farming projects combined is nearly $3 billion. The emergence of yield farming aggregators and curated yield farming providers has played a pivotal role in expanding the value of such liquidity pools. Industry experts believe that the rise of yield farming in 2020 is comparable to the 2017 ICO boom in its scale and magnitude.

What is Yield Farming?

In yield farming, traders borrow or lend their crypto holdings, not only to earn interest income on idle assets or avail loans using their holdings as collateral. The traders also get an opportunity to leverage their existing holdings to receive new types of digital tokens. Since users can earn tokens in exchange for their participation in decentralized finance applications, yield farming is also popularly termed as liquidity mining. However, the yield farmers who have made the most out of this practice have deployed more nuanced strategies that involve staking their holdings in a chain of protocols to extricate the maximum possible return from the system. DAI, Tether (USDT), and USD coins (USDC) are among the most popularly staked coins.

Cocoricos: The Face of Mainstream Yield Farming Adoption

With a track record of facilitating an earning of more than 50 million dollars through listed companies, Cocoricos has so far played a key role in boosting the wealth of more than 90,000 of its customers. The diversity of Cocoricos’ liquidity pools makes it convenient for mainstream investors to deploy various staking strategies. To date, Cocoricos offers nine different pool combinations. Together, these pools contain all possible combinations of most of the popularly staked coins. These combinations allow exchange between Ethereum and Tether, Wrapped Bitcoin and Ethereum, DAI and Ethereum, USDC and Ethereum, UNI and Ethereum, and many more. The platform does not charge any fees on these transactions.

Cocoricos leverages EGG tokens primarily as a medium for transactions in the network. It also uses these tokens to provide utility, govern the protocols, and accrue the network effects of the platform.

Developed on a highly secure Ethereum ERC20 protocol, the EGG tokens will be listed on Uniswap on the 15th of January 2021. A total of 10 million tokens will be issued to burn, with 100,000 tokens burning every three months.

The launch of the Cocoricos system token, i.e. EGG, would go a long way in empowering yield farmers on the platform. Farming on the platform would enable liquidity miners to earn more EGG coins. Additionally, the owners of these tokens will be equipped with moderation power within the platform’s ecosystem. It would also incentivize EGG owners by making them eligible to win a wide variety of assets in the form of Airdrops and more.

A Self-Sustaining Ecosystem

Cocoricos deploys many additional features to make the practice of curated yield farming self-sustaining and profitable for the users. Acting in unison, these features make the platform conducive enough for investors to believe in its potential and commit for the long term.

The Airdrops platform of Cocoricos assists projects or campaign owners to grow their popularity in terms of their traffic and visibility. The platform has an AI-based tracking and verification mechanism targeted at measuring its ads. Resultantly, the platform can offer a two-pronged value proposition to both its advertisers and its users. The gamut of users may include bounty hunters, influencers, and webmasters.

Industry experts believe the yield booster mechanism of Cocoricos along with its optimized assets diligence services, would further accelerate the adoption of yield farming by mainstream investors and crypto enthusiasts alike.

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