Can ADA Be Used for Yield Farming?

Yes, ADA can be used for yield farming through various DeFi platforms built on the Cardano blockchain. Unlike traditional staking, yield farming allows users to provide liquidity to decentralized exchanges and earn additional rewards. This can be an attractive way to generate passive income while holding ADA. However, yield farming comes with risks such as impermanent loss and smart contract vulnerabilities. Investors should stay updated on ADA’s value fluctuations by monitoring the ADA price before committing funds.