Although decentralized Finance popularity is increasing, there have been many activities lately in the crypto space due to market price instability, shifting many people's focus. This does not change the narrative of DeFi's disruption of the traditional financial landscape, as the technology has introduced many novel concepts and products.
Some of these novel products are farming, decentralized exchanges (DEXes), Stablecoin, and many more.
This article will explain the farmer's dilemma and why it poses a significant challenge to blockchain networks. Additionally, we will see how Autonomys and Subspace's innovative solution enables individuals to farm the network by contributing storage. Follow Closely!!!
Farmer's Dilemma In Blockchain Networks
Yield farming is one of the high-potential returns products in DeFi, however, its proximity level to risk is high. When a user is allured by its potential for high returns, a huge significant level of risk comes alive. Cryptocurrency is known for its price volatility and this has a great impact on the value of assets in yield farming. Additionally, farming requires a deep understanding of smart contracts and their technology before investing. Importantly, prior knowledge of liquidity pools, optimization strategies, and even impermanent loss before individual participation in yield farming.
Let's look into what Autonomys and Subspace's innovation solution brought to us.
Autonomys And Subspace's Innovative Solution
A close look at the building infrastructure of Autonomys shows a pioneering path that champions individual autonomy, meaningful contribution, and self-driven prosperity in the age of AI. The self-driven prosperity draws the attention of many to the innovative solution of Autonomy.
Autonomys Network
This is a decentralized network powered by the innovative Subspace protocol and it is underpinned by a Proof-of-Archival-Storage (PoAS) consensus, that allows users to farm the network only by contributing their storage facility and this contribution activates rewards at the output through active participation and skill an individual uses on the network. This is what we call meaningful work over passive dependence.
A dive!
Some projects focus on how to promote the future of Universal Basic Income, but the innovative solution of Autonomys empowers users to benefit from their effort and capability.
Imagine as an individual being able to develop your personal AI agents and partner with AI to amplify your potential, sound interesting? This is where Autonomys Identity (Auto ID) comes in.
Autonomy Identity
This is also known as Auto ID. It's the activator of self-sovereign identity in the age of AI in Autonomys Network. The functionality of this ID enables users to prove their humanity without subjecting themselves to invasive biometric scans. Hence, users can control their AI’s permissions and authenticate AI-generated content. This is what we call ownership in blockchain technology (Maintaining Authority Over Your Digital Footprint).
How To Start Your Journey With Autonomys
There are three steps to start farming on the network. Kindly follow the YouTube Videos below for your reference
1. Space Acres Quick Guide 1
2. Space Acres Quick Guide 2
Additionally link: https://docs.autonomys.xyz/learn/intro#become-a-farmer
Website: https://www.autonomys.xyz/
