Which cryptocurrencies are commonly used in liquidity pools?

3 answers

• Nov 29, 2021 · 3 years ago
  In liquidity pools, the most commonly used cryptocurrencies are Ethereum (ETH), Binance Coin (BNB), and PancakeSwap (CAKE). These cryptocurrencies are popular choices due to their high liquidity and widespread usage in the DeFi ecosystem. Liquidity providers can earn rewards by supplying these cryptocurrencies to the pools and participating in the trading activities.
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• Nov 29, 2021 · 3 years ago
  Liquidity pools often consist of a variety of cryptocurrencies, but some of the commonly used ones include Ethereum (ETH), Binance Coin (BNB), and PancakeSwap (CAKE). These cryptocurrencies have established themselves as key players in the DeFi space, offering users the opportunity to earn passive income through liquidity provision.
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• Nov 29, 2021 · 3 years ago
  When it comes to liquidity pools, Ethereum (ETH) is undoubtedly the king. Its dominance in the DeFi ecosystem makes it the go-to cryptocurrency for liquidity providers. However, Binance Coin (BNB) has also gained significant popularity, especially on platforms like PancakeSwap. Other cryptocurrencies like Chainlink (LINK) and Uniswap (UNI) are also commonly used in liquidity pools, providing diversification and opportunities for yield farming.
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