Which cryptocurrencies are commonly used for liquidity mining in DeFi?

3 answers

• Tomas EmanuelJan 01, 2022 · 4 years ago
  Liquidity mining in DeFi involves providing liquidity to decentralized exchanges and earning rewards in the form of tokens. Some of the commonly used cryptocurrencies for liquidity mining include Ethereum (ETH), Binance Coin (BNB), Uniswap (UNI), and Compound (COMP). These cryptocurrencies are widely accepted and have a large user base, making them ideal for liquidity mining activities.
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• MeghanasrinivasMar 12, 2021 · 5 years ago
  When it comes to liquidity mining in DeFi, Ethereum (ETH) is undoubtedly the most popular choice. Being the leading blockchain platform for decentralized applications, Ethereum offers a wide range of DeFi protocols and attracts a significant amount of liquidity providers. Other popular cryptocurrencies for liquidity mining include Binance Coin (BNB) and Uniswap (UNI), which have gained traction due to their involvement in the DeFi ecosystem.
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• Roberson JacobsenAug 09, 2024 · 2 years ago
  In the world of DeFi, liquidity mining is a hot topic, and various cryptocurrencies are used for this purpose. Ethereum (ETH) is the go-to choice for many liquidity miners due to its dominant position in the DeFi space. Binance Coin (BNB) is another popular option, especially for those who prefer the Binance Smart Chain (BSC) ecosystem. Additionally, Uniswap (UNI) and Compound (COMP) are frequently used for liquidity mining, thanks to their active communities and well-established protocols.
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