October 9, 2021 / Business

Monero Holders Can Participate In Yield Farming On Sienna Platform

sienna monero

Sienna announced the launch of the “automated market maker” SiennaSwap. Ecosystem participants can now convert tokens into equivalents, and then exchange or place them in liquidity pools in order to generate income.

Swaps are possible on the platform paired with XMR, namely in SIENNA, Wrapped BTC, USDT, and Secret.

https://twitter.com/sienna_network/status/1446273188233687043?s=20

To become a member, you need to swap XMR to sXMR through the Secret Monero Bridge.

For liquidity pool rates, the profit is from 100 SIENNA per day at a four-digit annual interest rate of at least 3494%. The payout occurs every 24-26 hours.

Since Monero is a privacy coin, the biggest immediate benefit to users is that they can access DeFi through privacy-preserving decentralized financial applications.

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