If DeFi is indeed the next stage of evolution for the financial industry as a whole – and many here can surely agree that this is the case – then it looks like our future selves and descendants are going to become quite rich. We say this, as DeFi has in its infancy already proven its worth in creating greater accessibility and equity between its many users. It's not uncommon to see decentralized finance change people's lives, as we now take a peek at the highest APY yield farms on BSC.
The art of yield farming is one of those many opportunities that have been created by the advent of DeFi, which has allowed us to prosper. It's quite simple at its core – using a smart contract to lend out your crypto tokens to create liquidity, where other users can access. You, in return, get a portion of the fees and interest as a reward. Nevertheless, this simplicity has paid dividends in a big way, where we can see some of the highest APY yield farms on BSC cashing out thousands in % returns.
Managing Risks to Optimize Returns
As we'll start to look at the highest APY yield farms on BSC soon, we should also take some time to understand a bit more about what yield farming is. More importantly, what are the risks that you'll have to wade through. First and foremost, yield farming is in itself not a single type of investment, as it is an activity. By farming for yields, you can do so across a broad base of different DeFi services, such as through DEXes, lending and borrowing platforms, staking, money markets, and so on.
So long as there is a way in which you can lock up your tokens as a form of liquidity for other users and then earn passive rewards in fees or interest, then that is technically called ‘yield farming'. The higher the yields on your farms, the higher also are the risks associated with them. Naturally, you'll have to first get through basic due diligence, such as whether or not that particular DeFi protocol is legitimate and if they have adequate security measures to prevent cybersecurity hacks or exploits.
However, the market itself presents an incontrollable challenge in the form of ‘impermanent loss‘, which every yield farmer has to go through. This is a phenomenon where the market prices of the tokens that you've deposited into a pool have changed, resulting in you losing out on the dollar value during withdrawal compared to the time of deposit, as the algorithms recalibrate. Although, these losses can be considered trivial; as they'll soon be covered up as you start earning those high yields.
The Highest APY Yield Farms on BSC
While DeFi has mainly concentrated its infrastructure and userbase on the Ethereum blockchain, we're now seeing a slow tectonic shift in which other networks are entering the fray. Binance's own Binance Smart Chain – or BSC – has become a major player in decentralized finance, with some of the most popular protocols, such as PancakeSwap, being native there. Although you may not have the variety of choices compared to Ethereum, DeFi-focused protocols on BSC does one advantage.
This significant upside is that since BSC is far newer, the huge volatility and market discovery have enabled some yield farms to leapfrog those based on Ethereum in terms of returns. Far more so, as BSC-based DeFi protocols have seen some farms promising – and indeed delivering – thousands, or even millions and billions of percentage gains. At one point, a particular farm boasted 67.3T% (T for trillion) APY! So, here are some of the highest APY yield farms on BSC for you to have a peek at.
bEarn Finance is among the most feature-packed DeFi protocols that we've ever seen being created on Ethereum. It has a complete decentralized exchange, an algorithmic multi-peg stablecoin made in-house, many staking pools, and even functioning as a multi-chain network, which is capable of working across to the Binance Smart Chain, too. It's no wonder then that its cross-chain and auto yield farming services have become so highly sought after, with more than $54-million in liquidity.
Its primary product is, of course, that aforementioned yield farming – or bVaults – as they called it. The returns from these cherry-picked farms, as you can see below, are monstrously high. Moreover, you could earn additional rewards in the form of bEarn's own BFI crypto and BDO stablecoins, as well. Not to mention, let's not look past the hugely attractive prospect of its bVaults charging no withdrawal fees, no harvesting fees, and only a meager fee for deposits.
- BDEX/BNB bDEX-LP (bDEX) – 80.64M% (80,640,000% APY, 3.729% Daily)
- MDG/WBNB (MidasGold) – 428.78k% (428,780% APY, 2.325% Daily)
- cCake-CAKE CAKE-LP (CarrotCake) – 215.65k% (215,650% APY, 2.104% Daily)
- SOUP-BNB CAKE-LP (Soup Protocol) – 126.16k% (126,160% APY, 1.957% Daily)
- SOUPS-BNB CAKE-LP (Soup Protocol) – 41.63k% (41,630% APY, 1.653% Daily)
- sCAKE-BNB CAKE-LP (CarrotCake) – 38.56k% (38,560% APY, 1.632% Daily)
- bpDOT-BDO CAKE-LP (bDollar Banks) – 9.33k% (9,330% APY, 1.243% Daily)
- BFI/BNB bDEX-LP (bDEX) – 7.04k% (7,040% APY, 1.116% Daily)
- CakeLP BDO/bBDO (bDollar Banks) – 5.54k% (5,540% APY, 1.100% Daily)
AutoFarm is another one of those yield farming optimizers that sniff out the best pools across countless different DeFi protocols and then adds auto-compounding on top of that to boost your potential profits. Although, AutoFarm does have a few more extra services to its more than $900-million in total liquidity. There is AutoSwap, where you can swap tokens as with any DEX, but AutoFarm will instead automatically route your trade to the DEX with the best rates and fees.
But its mainstay product is, of course AutoFarm's Vaults, where those yield farms reside. There are more than 200 different farms to choose from, so you'll have no trouble picking a pool that's your tokens are compatible with. More amazingly, is how AutoFarm is able to connect to yield farms on not just BSC but also the HECO (HuobiEco) and Polygon blockchains. For now, though, let's focus on the former to look at its entry into the list of the highest APY yield farms on BSC.
- WBNB-WINGS LP (JetSwap) – 81.4k% (81,400% APY, 1.92% Daily, 3.01% AUTO)
- BUSD-WINGS LP (JetSwap) – 45.4k% (45,400% APY, 1.76% Daily, 6.53% AUTO)
- WINGS (JetSwap) – 10.9k% (10,900% APY, 1.35% Daily, 3.21% AUTO)
- WBNB-WEX LP (Wault) – 9.5k% (9,500% APY, 1.31% Daily, 2.69% AUTO)
- WBNB-WAULTx LP (Wault) – 8.9k% (8,900% APY, 1.30% Daily, 6.01% AUTO)
- USDG-xGMT LP (Gambit) – 3.9k% (3,900% APY, 1.06% Daily, 4.21% AUTO)
- WBNB-BMXX LP (PancakeSwap) – 1.4k% (1,400% APY, 0.79% Daily, 4.06% AUTO)
Continuing on our path of looking at dedicated and specialized yield farming aggregators to make the work a lot easier (and cheaper) for you, we have Beefy.Finance. Again, it highlights just how appealing optimizer tools like these are, as manually having to reinvest your gains and readjust your positions isn't just a pain and time-consuming, but it's also costly as each transaction incurs gas fees. That's a worry that you won't have to think about with Beefy, and it's $400-million in liquidity.
Mainly, it can outdo AutoFarm in that Beefy is compatible with five distinct blockchains – BSC, HECO, Avalanche, Fantom, and Polygon. This broadens the net that you have rather significantly, based on your particular mood and which chain you prefer more. However, this might not be entirely needed, as even the BSC farms on Beefy are quite plentiful in quantity. If that's not enough, then Beefy also periodically “boosts” new projects and tokens, with extra bonuses and higher gains.
- GARUDA-BNB LP (PancakeSwap) – 99.36k% (99,360% APY, 1.91% Daily)
- WINGS-BNB LP (JetSwap) – 74.00k% (74,000% APY, 1.83% Daily)
- WINGS-BUSD LP (JetSwap) – 41.23k% (41,320% APY, 1.66% Daily)
- PANTHER-BUSD LP (PantherSwap) – 20.07k% (20,070% APY, 1.46% Daily)
- GARUDA-USDC LP (PancakeSwap) – 18.89k% (18,890% APY, 1.45% Daily)
- PANTHER-BNB LP (PantherSwap) – 17.34k% (17,340% APY, 1.42% Daily)
- GRAND-BNB LP (PancakeSwap) – 14.38k% (14,380% APY, 1.37% Daily)
- WINGS (JetSwap) – 10.32k% (10,320% APY, 1.28% Daily)
- TYPH-BNB LP (ApeSwap) – 7.21k% (7,210% APY, 1.18% Daily)
- RAMEN-BNB LP (RamenSwap) – 4.88k% (4,880% APY, 1.08% Daily)
4. Harvest Finance
Harvest Finance is a great addition to our list of the highest APY yield farms on BSC and one that is fairly underrated compared to the previous entrants. Nonetheless, there are more than 100 farms that you can pick from. Moreover, and just to highlight how much yield farming optimizers like Harvest have been a godsend, they've since recorded that more than $160-million in gas fees have been collectively saved by the community, thanks to Harvest's smart contracts and auto-compound.
There is more than $280-million in total liquidity locked inside of Harvest and split between two blockchains – Ethereum and Binance's BSC. Here, farms are readily separated into different sections based on which DeFi protocol there's originally from, such as Ellipsis, Venus, PancakeSwap, Goose, 1inch, and more. On top of that, you have the option to stake some of Harvest's bFARM tokens to boost your gains.
- ICE-BNB – 915.26% APY
- EPS-BNB (Ellipsis) – 451.38% APY (442.48% Auto-Compounded, 8.90% bFARM Rewards)
- SPACE-BNB (Space) – 401.13% APY (375.82% Auto-Compounded, 25.31% bFARM Rewards)
- SPACE-BUSD (Space) – 431.51% APY (364.21% Auto-Compounded, 67.30% bFARM Rewards)
- EGG-BNB (Goose) – 519.18% APY (494.32% Auto-Compounded, 24.86% bFARM Rewards)
- EGG-BUSD (Goose) – 460.09% APY (438.23% Auto-Compounded, 21.86% bFARM Rewards)
While we've tried our best to highlight to you the best of the highest APY yield farms on BSC, rest assured that what we have here is just barely peering into the deep ocean with many other great projects running on BSC right now. There's so much more that we've not had a chance to talk about, and each one of them are worthy of your crypto tokens. Right here and now, there's perhaps no better time to start investing, especially with cryptocurrencies and DeFi coming to play.