Luke Martin has advocated that the comparison between yield farming and Bitconnect is vague, lazy and incorrect. Bitcoin investment lending platform BitConnect abruptly announced it is shutting down its lending and exchange services earlier.
Somewhere down the lines comparisons have continued to being drawn between yield farming and BitConnect but Martin firmly feels that it is inappropriate.
He made these comments and also clarified that yield that is generated in farming is earned by lending it to someone else and the rewards are lending rate or something new.
“Yield farming = bitconnect is a lazy & incorrect comparison The yield that is generated in farming is earned by lending to someone else or a pool. Rewards are lending rate or a new token Bitconnect did absolutely nothing besides take new deposits to pay back previous investors,” Luke Martin tweeted.