Harvest Finance - a new way to yield farm Few days ago i've read this article on Publish0x about Harvest Finance. To be honest, i knew already about it, and i even participated with one short poem in the creativity contest. Not really a Shakespeare work, but, well, Shakespeare never write poetry right? (I know. I know, he did wrote poetry, it was just another alliteration.) https://www.publish0x.com/mind-puzzle/harvest-finance-creativity-contest-heavy-rain-with-farm-toke-xwnzezv A bit dark, given the situation, but what is this Harvest Finance? Harvest Finance said that they automatically farms the highest yield available from the newest DeFi protocols, and optimizes the yields that are received using the latest farming techniques. Hmm, intriguing, but how is this even possible? Checking their Git-Hub repository is definitely interesting and seems quite legit. I am no world class hacker, but the code seems alright and the writting is witty and elegant. Somebody is having fun writting all this stuff. https://github.com/harvest-finance/harvest Technical things, they got a native token called FARM which is a cashflow token for Harvest, one of the largest autonomous hedge funds. They promote messages like this one: '' Tracking and responding to yield farming opportunities can be a full-time job. Gas costs are increasing, and moving between farming opportunities is becoming prohibitively expensive. Smart contracts are hard to audit and bugs can result in locked funds for theft. Harvest addresses this by deploying strategies to move assets between different yield farming opportunities to maximize yield. Deposit into Harvest and Harvest takes care of APY tracking, strategy development and auditing, and gas costs.'' ...which are quite good, if you think about it. I will soon use them to stake a stablecoin, but i did not decided yet which one, be it DAI, USDT or USDC. They do have fDAI, fUSDC, fWBTC , that are the yield-bearing versions of these assets, which are being automatically farmed by the harvest algorithm. These assets are automatically appreciating, and you can redeem them at any time for DAI, USDC, wBTC.
What are the token economics for FARM? Farm holders receive cashflows from revenues on AUM, currently set to 30% profit sharing Circulating supply at launch: 0 FARM has a current circulating supply of 185551.68 FARM has a total supply over 4 years of 690,420 14850 FARM has been burned in week 3 5846.9 FARM has been burned in week 4 Harvest was completely bootstrapped, with no VCs and no premine. On whatever you use you will get the staking rewards, and the added FARM rewards, so you are profiting twice from their smart contract. Talking about it: The Harvest smart contracts are here. The Harvest smart contracts have been designed from the ground up with security in mind, by using as many audited components as possible. Please review the smart contracts before depositing funds. The project is in beta, please keep the risk in mind when using Harvest. In addition, the FARM token has no intrinsic value. Harvest has not yet been formally audited. However, we have received a number of informal security reviews from the community, and will be continuing to accumulate additional informal security reviews as well as pay for formal audits. https://github.com/harvest-finance Just take a look at their interest rates, they look alright, while they are not outrageously high, and they seems stable enough, now that FARM went down to a more stable value. I will follow up with an update, later, when i will invest in it and check how it is working and what are the fees to be paid for it. Yours truly, G. *Why not...* *...try* ***DogeWars*** *game and get Dogecoin fighting bosses and other players.* https://www.dogewars.com/register/9War0lcQCcxtoFb2 *...use the* ***world best cryptocurrency exchanges****:* *Binance**,* *Coinbase* *and* *Kucoin**.* https://www.binance.com/en/register?ref=L05S7B12 https://www.coinbase.com/join/gmihalache https://www.kucoin.com/ucenter/signup?rcode=7xfryf *...get the higher rewards for your* ***investments*** *using* *Blockfi* *and* *Crypto.com.* *For* *Celsius.network**, use referral 1235256530 for $20 bonus.* https://blockfi.com/?ref=8cff0fb6 https://auth.crypto.com/exchange/signup?ref=yk8zfhpkw2 https://celsius.network/get-the-app/?_branch_match_id=786176267473301667 *The* ***most lucrative faucets*** *that I use:* *ZEN**,* *ZEC**,* *PIVX**,* *LTC* *and few others.* https://getzen.cash/auth/register?ref=257678 https://globalhive.io/auth/register?ref=1920 https://pipeflare.io/r/1004 https://www.thecryptofaucet.com/?r=61485 *Get* ***ETH*** *while writing on* *Publish0x* *blog, using the* *Brave* *browser -* *Presearch* *search engine to maximize your* ***BAT*** *income.* https://www.publish0x.com/?a=y5eVGmvaEP https://brave.com/geo707 https://www.presearch.org/signup?rid=1685676 *Check my Lbry.tv* *channel* *in here. I am also writting on* *Read.cash* *(Bitcoin Cash rewards there).* https://lbry.tv/$/invite/@Crypto_I_tested_it_so_you_didn't_need_to...:b https://read.cash/r/Heruvim78 *Disclaimer: This text also can be re-published on my personal blogs, such as* *this one**.* https://oneurbanfairytale.blogspot.com/2020/05/tests-and-pathways-leading-to-early.html
5 comments
well done...nice post!
Bring it on with the Lambo
you first.
It is the same thing as Yearn Finance, everyone try to replicate their success I believe.
kind of, yeah!