Liquidity mining is one such smart approach to help investors make passive income, taking full advantage of the massive buzz around DeFi while allowing users to profit from their own holdings. The notion of liquidity mining is that it enables users to invest/lend some of their funds in the liquidity pools of decentralized exchanges, and through this practice, users will be able to earn trading fees and governance tokens in return as incentives.
As long as you become a liquidity provider, you'll get compensated based on the overall amount of assets you contribute to the pool. The value of your stake in a liquidity pool determines your overall benefits (passive incomes). Though currently, the mechanism of the liquidity mining in Y Pools is not yet fully-fledged, we still have our edges and perks!
In Y Pool, users can choose a chain that we support to provide liquidity, lending (or staking if you'd like) the two pool tokens (USDT and USDC). Note that the pool tokens on each chain are regarded as the same value. Upon providing liquidity, users will get
xyUSDT/xyUSDC in exchange as their shares in Y Pool, sort of like a proof of deposit.
Y pools allow USDT/USDC crypto holders to save their assets in the form of tokens, and our protocol has complete control over the assets once they are staked. Participants on the platform might exchange or utilize them for the purpose of making more profits, while the crypto holders are also entitled to collect their tokens immediately after supplying their assets to the liquidity pool.