Every yield farm takes a cut before you see the APY: Pendle keeps 5% of yield accrued by YT, Convex 17% of CRV rewards, and new Beefy vaults up to 9.5% of harvests. The platforms here cover fixed yield, boosted Curve rewards, auto-compounding and Base liquidity. Kamino is not on this list because its terms exclude US persons. APYs move daily, so we rank on fees, chains and audits instead.
Quick answer
Pendle is the best yield farming platform if you want a fixed rate: its PT tokens lock in yield until maturity. Use Convex to boost Curve rewards, Beefy to auto-compound on 41 chains, and Aerodrome on Base.
- 01Pendle: best for fixed yield
- 02Convex Finance: best for Curve LPs
- 03Curve Finance: best for stablecoin LPs
- 04Beefy: Best auto-compounder
- 05Aerodrome: Best on Base
The 5 best yield farming platforms
Pendle splits yield-bearing tokens into PT, which locks a fixed yield to maturity, and YT, which trades the variable part. It takes 5% of yield accrued by YT and runs on Ethereum, Arbitrum, Base and more. Its Boros product is closed to US persons.
- Chains
- Ethereum, Arbitrum, Base, BNB Chain and other EVM networks
- Platforms
- Web, API
- Custody
- Non-custodial
- Fees
- 5% of yield accrued by YT, plus swap fees
- Chains
- Ethereum, Optimism, BNB Chain, Sonic, HyperEVM, Mantle, Base, Arbitrum, Berachain, Monad and others
Pros
- PTs lock a fixed yield until maturity
- Deployed on more than ten EVM networks
- 20% of swap fees go to liquidity providers
Cons
- 5% fee on all yield and points accrued by YT
- YT can lose most of its value if yields fall
- PT and YT concepts take time to learn
- Boros is closed to US persons
Skip it if you want set-and-forget: PT and YT need you to track maturities.
Convex boosts CRV rewards for Curve liquidity providers without a CRV lock of your own. It takes 17% of CRV rewards, split between cvxCRV stakers, CVX stakers, the treasury and the harvest caller.
- Chains
- Ethereum
- Platforms
- Web
- Custody
- Non-custodial
- Fees
- 17% of CRV rewards
- Security audits
- MixBytes (2021), PeckShield (2022), Nomoi (2023), ChainSecurity (2023)
Pros
- Boosted CRV rewards with no CRV lock of your own
- Fee split published line by line
- Audits by MixBytes, PeckShield, Nomoi and ChainSecurity
Cons
- 17% fee on CRV rewards
- Depends on Curve pools and CRV emissions
- Admin multisig actions have no timelock
Skip it if you do not provide Curve liquidity: Convex only boosts Curve pools.
Curve Stableswap pools pair pegged assets, which limits impermanent loss for liquidity providers. Its audits include Trail of Bits and ChainSecurity.
- Chains
- Ethereum and EVM-compatible chains
- Platforms
- Web, API
- Custody
- Non-custodial
- Fees
- Stableswap 0.005% to 0.02%; Cryptoswap about 0.05% to 0.4%
- Security audits
- Trail of Bits, MixBytes, Quantstamp, ChainSecurity, StateMind
Pros
- Most Stableswap pools charge 0.005% to 0.02%
- Audits by Trail of Bits, MixBytes, Quantstamp and ChainSecurity
- Dynamic fees raise the fee on swaps that unbalance a pool
Cons
- Cryptoswap pool fees can reach about 0.4%
- Some pool types are not supported on sidechains or Layer 2 networks
- Pool-by-pool fees make costs harder to compare
Skip it if you want high APYs: stable pools trade high volume at 0.005% to 0.02% fees.
Beefy vaults harvest and compound farm rewards on 41 chains, and the APY shown already includes its performance fee. Older vaults take 4.05%; new vaults up to 9.5%.
- Chains
- 41 chains, mostly EVM
- Platforms
- Web
- Custody
- Non-custodial
- Fees
- Performance fee on harvest rewards, up to 9.5% on new vaults
- Security audits
- Reports in the beefy-audits GitHub repository
Pros
- Displayed APY already includes performance fees
- Fee split published line by line
- Audit reports published on GitHub
Cons
- New vaults can take up to 9.5% of harvest rewards
- Vault safety depends on the underlying farm
- Many chains and vaults to vet one by one
Skip it if you want to pick the farm yourself: each vault is only as safe as its farm.
On Aerodrome, veAERO voters direct AERO emissions to pools and earn those pools' fees, so LPs and voters both earn. Contracts audited by Spearbit and ChainSecurity.
- Chains
- Base
- Platforms
- Web
- Custody
- Non-custodial
- Launched
- August 28, 2023
- Security audits
- Spearbit, ChainSecurity
Pros
- Launched August 2023 with no VC backing or token sale
- Contracts audited by Spearbit and ChainSecurity
- veAERO voters receive fees from the pools they vote for
Cons
- Only on Base until the planned 2026 merger with Velodrome
- Terms bar US persons from unregistered or Reg S tokenized securities on the site
- Emergency Council can kill and revive gauges
Skip it if you want one chain other than Base: Aerodrome is Base only.
Not on this list
Meteora: Terms exclude US residents: it is not offered to US residents, citizens or US-incorporated entities.
Kamino: Terms exclude US residents: Kamino's terms exclude US persons, including US-organized entities.
Yield Farming Platforms compared
Select a name to jump to its review.
| Name | Best for | US availability | Fees | Chains | Custody |
|---|
| Pendle | Locking a fixed rate | Partly: Boros closed to US persons | 5% of yield accrued by YT, plus swap fees | Ethereum, Arbitrum, Base, BNB Chain and other EVM networks | Non-custodial |
|---|
| Convex Finance | Boosted Curve rewards | Not verified | 17% of CRV rewards | Ethereum | Non-custodial |
|---|
| Curve Finance | Low-volatility liquidity | Available: terms restrict only sanctioned jurisdictions | Stableswap 0.005% to 0.02%; Cryptoswap about 0.05% to 0.4% | Ethereum and EVM-compatible chains | Non-custodial |
|---|
| Beefy | Hands-off compounding | Not verified | Performance fee on harvest rewards, up to 9.5% on new vaults | 41 chains, mostly EVM | Non-custodial |
|---|
| Aerodrome | Base LPs and voters | Available: terms restrict only sanctioned jurisdictions | Swap fee set per pool and adjustable to volatility; fees of staked LPs go to veAERO voters | Base | Non-custodial |
|---|
“Not verified” means we could not confirm the value on the project’s own pages.
How we rank yield farming platforms
- 01Fee on rewards: the share of yield or rewards the platform keeps, from its own docs.
- 02Chains: where you can farm without bridging.
- 03Audits: named audits on the project's own pages.
- 04Yield source: trading fees, lending interest or token emissions. Fees and interest rank above emissions alone.
- 05Effort: how much managing a position takes.
No project paid to be listed or ranked. Full rules: methodology.
What we did not test
- We did not open accounts, deposit money or place trades with these services.
- We did not audit smart contracts, reserves or security claims ourselves; we report what the project and its auditors publish.
- Fees, limits and availability change; the list date shows when we last checked them.
Rubric last updated Oct 1, 2026. Crypto assets are not insured by the FDIC or SIPC, and you can lose all the money you put in. This page is educational content, not financial advice.
How to choose
01Find where the yield comes from
Trading fees and lending interest last; token emissions can fall to zero. Balancer, for example, halted BAL emissions in Q2 2026.
02Subtract the platform cut
Beefy and Yearn show APY net of fees. On Pendle and Convex, the 5% and 17% cuts come out of rewards before they reach you.
03Count impermanent loss
Pools of two volatile tokens can lose value against simply holding them. Stable pools on Curve limit this risk.
04Mind taxes
In the US, farm rewards are generally taxed as income when received. Track each harvest.
Who should skip all of these
- Savers who cannot afford to lose principal: smart contract bugs and depegs can wipe out deposits.
- Small balances on Ethereum mainnet: gas can eat the yield. Base, Arbitrum and Solana cost less per transaction.
- Anyone chasing the highest APY on a dashboard: headline APYs are often short-lived emissions.
Bottom line
Pendle for fixed yield, Convex and Curve for stable Curve farming, Beefy for hands-off compounding, Aerodrome on Base.
Rank farms by the fee they take and where the yield comes from, not by the APY on the day you look.
Educational content, not financial advice. Crypto assets are volatile; do your own research.
FAQ
What is yield farming?
±
Putting crypto into DeFi protocols, as liquidity or loans, to earn trading fees, interest or token rewards.
Which yield farming platform takes the smallest fee?
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Of those with a single published rate, Pendle takes 5% of yield accrued by YT. Beefy takes 4.05% on older vaults and up to 9.5% on new ones. Convex takes 17% of CRV rewards.
Is yield farming safe?
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No platform is risk-free. Risks include smart contract bugs, impermanent loss, stablecoin depegs and falling reward tokens. Audits reduce but do not remove smart contract risk.
Is yield farming taxed in the US?
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Generally yes: rewards count as income when you receive them, and selling them later can create capital gains. Keep records of every harvest.
What happens to a Pendle position after maturity?
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PT can be redeemed for the accounting asset, at the cost of gas only, and YT reaches zero. Yield and points from PT or LP positions left unredeemed after maturity go to the Pendle treasury, not to you, so redeem or roll over on time.
What changed in this list
2026-09-26First version: 7 platforms, fees on rewards checked on each project's docs.
2026-09-26Moved Meteora to Not on this list: its terms exclude US residents
2026-09-26Moved Kamino to Not on this list: its terms exclude US persons. Noted that Pendle's Boros is closed to US persons. List now ranks 5 platforms.
2026-10-01Added a FAQ on what happens to Pendle PT, YT and LP positions at maturity.
Who made this page
✓
Fact check
Checked against 8 sourcesLast check: Oct 1, 2026
A value we could not confirm on the project’s own pages is marked “Not verified” instead of estimated.
How we review