A research carried out by CoinGecko has shown that most Yield farmers do not have an understanding of smart contracts the basis of the decentralized finance system they use. However, that hasn't hindered them from getting significant gains.
Cryptocurrency trade information analyst CoinGecko has released their research study of 1,347 of its clients about yield farming, showing that 93% of those who responded to their survey said they had gotten interest gains of nothing less than 500%.
About 50% of the clients presently farm with less than $1,000, which makes the high gas cost a major worry in the group. Still, some did not mind paying over $10 in cost for every transaction.
Out of the 1,347 that responded to the survey, only 314 mentioned that they had formerly engaged in yield farming, 59% of respondents who have engaged in it still do so presently. Only 40% of decentralized finance clients said they understand the smart contract basis of the system they use.
Source:Cointelegraph
