SOURCE Token Hits Top 10 Highest APY On Ubeswap

SOURCE, the native token of ReSource Finance, a platform for businesses to access uncollateralized crypto loans, has been listed amongst nine other crypto pairs in the top ten with highest APY on Ubeswap. Ubeswap is a forked version of Uniswap that runs on the Celo blockchain. It's a decentralized exchange that supports yield farming, allowing liquidity providers to earn a certain percentage on their stakes.

By providing liquidity to SOURCE trading pairs on Ubeswap, the investor gains a high APY on their capital when either the buyer or seller converts from one asset to the other one. In addition, Ubeswap distributes its UBE token to the providers for adding liquidity to the pair. This presents a good opportunity for investors to maximize their income.

Yield Farming Has Created Passive Earning Opportunities

Farming tokens is one of the ways to increase your capital in the DeFi world. Most people stick to the belief that the only way to maximize your income in the DeFi space is to hold the cryptocurrency and wait until they rise before selling. This is playing the long game. However, you could get the same profit without waiting that long, thanks to yield farming.

Yield farming enables you to earn percentages on your investment, more than what most banking institutions offer or what you will profit from holding your virtual currency. While investors question the sustainability of yield farming, platforms such as Ubeswap are trusted and provide one of the most sustainable liquidities.

Of course, one can't predict the outcome of the crypto market 100% due to their volatility. As investments, the risks are there. Some yield farming projects aren't sustainable because they raise too much capital in a short period and are abandoned later on. So, it's crucial that you employ a good strategy.

Most yield farming platforms, like Ubeswap, allow you to provide liquidity to the pair at a ratio of 50:50. Farmers can profit from the trading fees that accrue during converting one asset to the other and earn bonus incentives from the LP platform.

Farming SOURCE on Ubeswap

SOURCE is the "fuel of the ReSource economy." ReSource Network is a blockchain project that operates on mutual credit. It is changing the financial scope by allowing small and medium scale enterprises to access uncollateralized, interest-free credit. In the traditional financial setup, businesses would need to apply for a loan from the bank and provide collateral that matches the amount applied. Then they would need to pay interest on the borrowed money.

ReSource bypasses these processes. Instead, on ReSource, businesses extend credit to each other in a mutual way, and don’t need to rely on creditors or banks. Users of the protocol are assigned a current account, which they can overdraft to buy goods and services from all other businesses in the network. The way to pay back your debt on ReSource is simple, and doesn’t require fiat money: businesses just sell their own goods and services to other users until their debt is closed. This way businesses can get a business loan at phenomenal terms, without anyone ever having to lend them money.

To farm SOURCE and mcUSD, purchase both of them on Ubeswap. If you don’t have an asset that is being traded on Ubeswap, you’ll first have to buy Celo on an exchange such as Coinbase or Binance, and then use it to buy SOURCE and mcUSD on Ubeswap .

After that you add both tokens to the mcUSD/SOURCE liquidity pool, and select farm on Ubeswap. There you’ll deploy your mcUSD/SOURCE LP token to the farm. As a reward, the investor gets 0.25% from the pool and other juicy incentives, such as 50000 SOURCE / Month, 26,160 UBE / month, and 7,700 CELO / month.