Farming is mainly to earn tokens by the platform where users provide liquidity through creating liquidity pools(LPs) or staking single token. It is also known as staking or yield farming.

Liquidity pools(LPs): It is mainly done by combining two different tokens such as ETH-DAI to earn platform token or a different token/coin. Mostly platforms ask for a 50-50% LP token but it can differ as well. Also, it can be more than two token and different percentage of provided tokens.

Stake: It is mainly a single token locked in a platform to earn another token. Earned token either can be a platform token or another token.