The DeFi concept emerged with booming hype revolving around it's introduced features and products. DeFi yield farming is one of these features that have gained immense popularity in the industry.
This particular protocol enables users to earn passive income in exchange for participating in DeFi applications and platforms. Yield farming exists to address some important issues affecting the current market, as such users can earn tokens or passive income with very little understanding of cryptocurrencies and market conditions in general.
Yield farming serve as a significant safe alternative to trading cryptocurrencies without experience. Before participating in yield farming, users should invest time to understand the advantages and features of each DeFi platforms and applications such as lock up periods and return rates. This is because every platform is designed with their own technical specifics with regards to yield farming strategy.
However, generally practiced yield farming strategies involves lock up period of cryptocurrency funds into a liquidity pool smart contract which generates rewards to users.
DeFi creates a profitable loop for everyone passionate about cryptocurrency. Also, everything about DeFi is built around interoperability, making the concept incredibly versatile.
At present, DeFi concept like Yield farming is being merged with NFT (Non - Fungible Token).
What exactly is a NFT?! NFT is a type of cryptocurrency token that represents a special asset. They are essentially tokenized versions of real world or digital assets. Non fungible token can be utilized as verifiable proof of authencity and ownership on a blockchain network.
Furthermore, NFTs are not mutually interchangeable and can create scarcity in the digital market. NFTs can be integrated into gaming, used as collectibles, domain names, tokenized real world assets, for music, event ticketing and so on.
Besides, NFTs is filled with potential and can contribute immensely to the DeFi sector. Therefore, NFTs can be used as a collateral, for staking, Yield-NFT farming and liquidity mining in DeFi ventures.
Since, NFTs is being used on DeFi aspects, Cyclops Finance has emerged to enable people participate in the unhinged success of combined DeFi and NFT concept.
What is Cyclops Finance about?!
Cyclops Finance is different from other Yield farming innovations because the developers are focused on introducing a merged NFT - Yield farming innovation in form of a gaming /puzzle Dapp.
The Dapp is based on Cyclops of the Greek mythology, as such users will be exposed to a fantastic and fun filled adventure NFT- Yield Farming framework that rewards participants for partaking in as well successfully completing various tasks.
Cyclops gaming platform is built on Ethereum blockchain and developed to properly allow traditional games to interact with blockchain and permits efficient monetization of game assets.
Since, Cyclops gaming Dapp runs on blockchain, it is highly secure, reliable, efficient and anyone can easily buy and own game assets. These assets includes NFT game characters, pets, game weapons and many more.
Also, the gaming platform will come with Hephaestus Workshop. This function as a NFT hub to allow players own game assets like characters, pets and weapons. Also, users will be able to create custom NFTS and trade them on Hephaestus Workshop.
Besides, these game assets are important to the Cyclops gaming platform functionality, thus players can use these assets to successfully accomplish tasks as well motivated receive rewards by using their assets and players can easily auction their assets within the ecosystem.
The platform runs appropriately with native cryptocurrency known as CYTR. CYTR comes with several vital use cases like for purchasing of game assets with discount, ownership of certain amount of CYTR allows player to unlock higher levels in the Dapp and Voting rights is given to owners of CYTR cryptocurrency. Also, paying certain fee in CYTR empowers player to skip levels, use special game characters and even, unlock special characters.
In conclusion, Cyclops Finance gaming platform is rapidly growing and will greatly attract participants worldwide because of the platform decentralized features, better rewards and easier monetization of game assets unlike centralized platforms.
Official Links For More information,
Websites: https://cyclops.game/
https://cyclops.finance/
Twitter: https://twitter.com/CyclopsFinance
Telegram: https://t.me/CyclopsFinance
Discord: https://discord.com/invite/dbuEXdm
Medium: https://medium.com/@cyclopsgames
Github: https://github.com/CyclopsFinance
WRITER DETAILS,
BTT Username : Johnson Knight
BTT Profile URL : https://bitcointalk.org/index.php?action=profile;u=2326370;sa=summary
Wallet Address : 0x56D391aD6C5Fe4b4faee3FCF9C7D32D9BD2feeCA
A gaming Dapp with integrated NFt-Yield farming features. Super interesting and very unique.
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