Mining, staking and farming have been extremely popular.
We see how ETH 2.0 has helped to pump the price when staking for a reward becomes available soon in December.
Hoo exchange has also introduced its own farming pools that allowed investors to gain reward in its Hoo tokens. The price each Hoo token is currently $0.0412 at the point of this post.
When we head to https://hoo.com/hoopool/, we can see the most attractive offer would be the Hoo-USDT that enables investors to earn 230.12% estimated ARR at the point of my post.
Hoo Tokens started out at the price of more than 10 cents each and its current price was more than 50% decrease from its initial price.
230.12% is indeed extremely attractive to me but the great price decreased of the token has made me think twice about getting into farming.
The other factor is Hoo tokens are not available in other exchanges except on Hoo exchange so it is like an internal market.
Nevertheless, passive income in farming and staking does not need us to sweat a single bit except to get our funds in.
There is a certain degree of risk since our funds are technically locked in contract to earn farming rewards. If the founder is a scammer, the investors would lose their funds.
It would be good to investigate how reliable is the farming and staking pool before putting in our hard-earned money.
