> For the complete documentation index, see [llms.txt](https://docs.defindex.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.defindex.io/advanced-documentation/developer-introduction/what-is-a-strategy.md).

# What is a strategy?

A strategy is a set of **steps** to be followed to execute an investment in one or several protocols. This could be as simple as just holding assets, or as complex as farming and auto-compound rewards automatically, leverage lending or leveraged farming strategies for borrowing and lending markets like Blend.Capital.\
\
Example of an Autocompound Strategy on Blend Capital:

> When investing USDC in Blend, Blend gives interest by lending those USDC, plus a reward in BLND token, so the strategy will follow these steps:
>
> 1. Lend USDC on Blend
> 2. Wait a little.
> 3. Claim BLND rewards.
> 4. Swap BLND for USDC.
> 5. Lend those USDC after the swap.
>
> This strategy converts the regular APR given by Blend into APY.