Since the DeFi space has continued to surge in 2021 we have seen many new platforms come to life. One thing that is becoming increasingly popular is yield aggregators, which help you get a better yield on your money without having to put in much more work.
How does a Yield Aggregator work
Yield aggregators are built in different ways, but their goal is to make more money for the users. With more and more platforms coming into the DeFi space, it could be hard for a single person to keep track of all the data themselves. Each earning strategy is different, and the more complex it is, the better the results hopefully are.
This is where a yield aggregator comes in – with countless hours and a lot of data. The goal is to find the best opportunity to put the money. They have built sufficient tools to track various parameters to yield the most all the time. It is all an automated process, and you usually pay a % fee of the returns for participating in the yield pool.
Best yield aggregators on Fantom
Frankenstein Finance was launched back in May of 2021 on both Fantom and Binance Smart Chain. They have been audited by TechRate. You will find vaults from Spirit Swap, Spooky Swap, and LQDR with more to come. You always earn $FRANK when staking on this platform.
Hyperjump launched first as ThugSwap but rebranded in early 2021. They have operated on BSC for a time and launched on FTM Chain in April 2021. They have their Star Vaults where you can stake pairs from Hyperjump, SpiritSwap, and SpookySwap.
Mushroom Finance is a multi-chain aggregator that has been around since 2020. Audited by both Debaub and CoinFabrik. They are currently offering vaults from Spirit and Spooky Swap, with hopefully more to come.