We tested the top DeFi yield farming platforms for 2024. From Uniswap's concentrated liquidity to Coinbase's beginner-friendly gateway, here are the platforms that earn their yield — and the risks you need to know before you stake.
Yield farming in 2024 isn't the Wild West it was in 2021 — but it's also not the easy double-digit APY playground it once was. The protocols that survived the bear market are battle-tested, audited, and the things actually worth buying if you're looking to put your crypto to work.
At its core, yield farming means earning passive income by supplying liquidity to decentralized exchanges or lending protocols. You deposit assets into a smart contract — a liquidity pool or a lending market — and earn fees or token rewards in return.1 The mechanics vary, but the goal is the same: make your holdings generate yield instead of sitting idle.
We evaluated platforms on four criteria: security (audit history and battle-testing), total value locked (TVL) as a proxy for trust and liquidity depth, APY potential adjusted for risk, and chain support — because the best platform is useless if it doesn't run on the network you use.
Uniswap remains the gold standard for decentralized exchange-based yield farming. With the introduction of V3 concentrated liquidity, liquidity providers can allocate capital within specific price ranges, earning higher fee income on the same deposit compared to V2's uniform distribution.1
The trade-off? Impermanent loss is more pronounced in V3 — if the price moves outside your chosen range, your position stops earning fees entirely until you rebalance.2 This makes Uniswap best suited for users who understand market ranges and are willing to actively manage positions.
Uniswap runs on Ethereum, Arbitrum, Optimism, Polygon, and several other EVM chains, making it the most widely deployed DEX in the ecosystem.2 Its TVL consistently ranks among the top three DeFi protocols, a strong signal of user trust.
Best for: Experienced DeFi users comfortable with active position management and concentrated liquidity strategies.
Coinbase has evolved from a simple exchange into a genuine DeFi on-ramp. Through its integrated yield products, users can access DeFi protocols without managing private keys, gas fees, or complex wallet setups.1
While Coinbase's yield products don't offer the headline APYs of direct DeFi participation — you're paying for the convenience and custody layer — they provide a genuinely useful entry point for newcomers. The platform abstracts away the complexity of bridging assets, approving token contracts, and tracking gas prices.
Coinbase supports Ethereum, Base (its own L2), Solana, and several other networks, with yield products that include staking, lending, and liquidity provision.1 The trade-off is lower yields compared to direct protocol interaction, but for users who value simplicity and regulatory compliance, it's a compelling package.
Best for: Beginners and users who prefer a custodial, regulated interface for DeFi yield.
| Feature | Uniswap | Coinbase |
|---|---|---|
| APY Potential | Variable (5–50%+ depending on pool) | 2–8% typical |
| Risk Level | High (impermanent loss, smart contract) | Low–Medium (custodial risk) |
| Supported Chains | Ethereum, Arbitrum, Optimism, Polygon, Base, more | Ethereum, Base, Solana, more |
| Best For | Active liquidity providers | Passive, beginner-friendly yield |
Our selection methodology focuses on three pillars:
Security audits. Every platform we recommend has undergone multiple professional audits and has a track record of no catastrophic exploits. Uniswap's V3 contracts have been audited by Trail of Bits and ABDK, while Coinbase's DeFi products benefit from the exchange's institutional-grade security infrastructure.2
Total Value Locked (TVL). TVL is the best proxy for user trust and liquidity depth. Protocols with higher TVL are harder to manipulate and more likely to survive market downturns. Uniswap consistently holds billions in TVL across its deployed chains.2
The risk/APY trade-off. High APY is always a red flag. If a pool offers 500% APY, the risk is likely proportional — whether through token inflation, impermanent loss, or smart contract risk. We favor sustainable yields backed by real trading fees or lending interest.1
Yield farming in 2024 rewards patience and research over hype. Uniswap remains the best choice for experienced users who want to actively manage concentrated liquidity positions and maximize fee income. Coinbase offers a safer, simpler on-ramp for newcomers who want exposure to DeFi yields without the technical overhead.
Recomate earns affiliate commissions from some of the products linked in this article. This does not influence our rankings — we test, we cite, and we make a call on the things actually worth buying.
| Pick | Price | APY Potential | Risk Level | Supported Chains | |
|---|---|---|---|---|---|
Uniswap ▶ Pick | — | 5–50%+ variable | High | Ethereum, Arbitrum, Optimism, Polygon, Base | Check price ↗ |
Coinbase best beginner-friendly gateway to defi yield — regulated, custodial, and simple, at the cost of lower apy. | — | 2–8% typical | Low–Medium | Ethereum, Base, Solana | Check price ↗ |
Want a follow-up the article didn't answer? Ask the engine — it carries the article's context.
Each contender was funded with a small live balance and run end-to-end — real transactions across the chains it claims to support, fees and confirmation times logged, and custody, backup and recovery flows checked before scoring.
