First Mover: Day in the Life of a Yield Farmer Means Part-Time Gig, Full-Time Risk

Oct 5, 2020 at 12:47 UTCUpdated Oct 5, 2020 at 13:32 UTC.One is a Grammy Award-winning musician with lots of spare time.

What these people have in common is an obscure side gig known as "Yield farming," a type of cryptocurrency trading and investing that didn't really even exist until 2020.

Yield farming is producing fixed income-like returns that can, at least for brief stretches, provide annualized interest rates equivalent to percentages investors cannot find anywhere else.

As documented in First Mover over the past few months, the yield farming boom, itself a subsector within the fast-evolving realm of decentralized finance, or DeFi, started in June when the projects Compound and Aave launched.

CoinDesk's Daniel Cawrey spoke to four yield farmers to get their stories.

Here's a link to his highly recommended piece, along with a video interview he conducted with André Allen Anjos, also known as RAC, who finds time for yield farming in his spare time, when he's not producing and recording music.

Bitcoin's low volatility consolidation continues as the dust settles on the BitMEX controversy.

Initially, bitcoin fell from $10,900 to $10,450 but recovered to $10,500 on the following day.

The cryptocurrency held ground even though the regulator probe triggered massive outflow of bitcoins from BitMEX and the drop in the futures open interest, a sign of panic among traders.

Bitcoin: 180-day volatility falls to lowest mark since November 2018 as market mostly unfazed by President Donald Trump's positive coronavirus test and U.S. charges against BitMEX cryptocurrency exchange.