Platform for dai stablecoin ( farming and staking)

[cryptoaddictchie]

Hello everyone would like to ask some those familiar how to expand your dai stablecoins into profiting. I have some few dai and wanted to take advantage of it by earning on staking or farming, any platform worth checking out were I could print more dai from my dai bags. A good figure is highly appreciated and a legit website would be great as well.

[repasmal]

You can stake $FET. Fetch.ai start the stake drop on Mobix and still developing the project. Fet's volume is rising and approach about highest price. If you can wait you will be rich soon.

[GreatArkansas]

Are you in the Ethereum network? Please be aware that currently on the Ethereum network, gas is an extremely high fee, since you said you have "few" dai, so the Ethereum network is not the best for you for now.

As I checked before on Polygon chain, they have DAI there and you can use it for farming such as in Sushi or DFYN on Polygon chain, I already tried it, try to explore too on other chains not only on Polygon.

[cryptoaddictchie]

Are you in the Ethereum network? Please be aware that currently on the Ethereum network, gas is an extremely high fee, since you said you have "few" dai, so the Ethereum network is not the best for you for now.

Yes I'm currently staking it on Binance savings. But I feel I can be more profitable on dex or platform that utilise a good profit for stablecoin alone.

s I checked before on Polygon chain, they have DAI there and you can use it for farming such as in Sushi or DFYN on Polygon chain, I already tried it, try to explore too on other chains not only on Polygon.

Hello what you mean kind of farming? Is that a stablecoin utilisation alone, I supposed your not suggesting a liquidity farm with pair? But I don't like the IL, so I'm looking for a dai platform that gives out more than 4.53% APR, and the trusted one.

[GreatArkansas]

s I checked before on Polygon chain, they have DAI there and you can use it for farming such as in Sushi or DFYN on Polygon chain, I already tried it, try to explore too on other chains not only on Polygon.

Hello what you mean kind of farming? Is that a stablecoin utilisation alone, I supposed your not suggesting a liquidity farm with pair? But I don't like the IL, so I'm looking for a dai platform that gives out more than 4.53% APR, and the trusted one.

Stablecoin farming which you provide liquidity using or stable coin like DAI, and yes, the impermanent loss (IL) is really low since it is stablecoin, very safe for IL.
Check Sushi (Polygon Network) There is USDC-DAI Liquidity, but here you need some USDC too.
But if you try Solana Network, and Saber platform (https://app.saber.so/), you can farm SABER TOKEN with your DAI alone.
You gonna need to do some Bridge here, bridge your asset on a particular network/chain, bridge to another chain. As I said, Ethereum is really high transaction fees right now.

[cryptoaddictchie]

~snipped

Thats very helpful thank you so much. I didn't know about saber tokens can be farm via stablecoin dai. It seems interesting. Gonna check on that to see if its worth it too. Thanks for the help, anyway still hoping some or others could also suggest more so I could check other product service providers.

[hd49728]

Yes I'm currently staking it on Binance savings. But I feel I can be more profitable on dex or platform that utilise a good profit for stablecoin alone.

You will take more risk when you lock your DAI to stake on DEX.

Binance have risk too but at least with Binance, they might compensate loses for users if their exchange get compromised. Do you think and believe that DEX will do the same? They can make compensation or not but I have more believe in centralized exchanges about compensation.

[cryptoaddictchie]

Do you think and believe that DEX will do the same? They can make compensation or not but I have more believe in centralized exchanges about compensation.

I believe on Cex too especially Binance, but I am an active on twitter and seeing a lot of post from some degen on defi and their can clearly multiply their asset on bunch of defi products. I just needed opinion here and more suggestion since this forum has more conservative view when it comes to investment.  I am merely observing and taking more suggestions.