What Is Ifarm

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Written by

Jack216

I am a blogger who writes about passive income and try's to help others to start earning

3 years ago

In community: Cryptocurrency(66bf)

Topics: Earning, 2021, Altcoins, Economy, Update, ...

What Is Ifarm

In todays blog I'm going to go over exactly what the IFarm cryptocurrency is. As I'm sure most of you know it's one of the two main cryptocurrencies on Publish0x. See before I had used publish0x as a blog I never heard of the IFarm crypto. I'm sure that went for many of you as well and maybe some of you haven't heard of it before this blog. So that made me very curious to figure out what I was being rewarded by this platform. So that's why in todays blog we are going to find out what is IFarm.

Why Was IFarm Made

So before we get into anything you need to understand what DeFi Is. DeFi is decentralized finances unlike banks which are centralized and are backed by national banks. But the thing about most cryptos is that their decentralized. Which helps cut down on fees and really helps when it comes to liquidly. So in layman's terms it's just cheaper then main stream financial institutes. So this allows you make more profits and helps provide more liquidity. What makes IFarm so special is that they've automated the process of harvesting rewards for DeFi yields. While IFarm technically isn't behind the process the way you earn the token is through this process though.

How Does IFarm Work

So like I've said before this crypto is a token that is earned from collecting rewards on a DeFi network. But what makes it so special is this network called harvest is all automated. This process of automating has saved them over $50 million dollars in gas fees. But has also made it really popular with people who can't do crypto 24/7.This crypto does have a max supply of 175,082. Which does make it a harder crypto to obtain and make it not subjected to inflation. what makes it even more valuable is the fact it's rewarded to you instead of mined.

How Is IFarm Doing Right Now

As of writing this post (7/1/2021) The price of IFarm is at $64.69. It had a 24 hour gain of 1.2% a 7 day gain of 15.8% a 14 day gain of 9.5% and a 30 day loss of 24.1%. Personally I think the fact there's only 3,328 holders and a limited supply of 175 thousand is helping the price be stable compared to the rest of the market. Not financial advise but if you were planning on investing into crypto acquiring some of this coin wouldn't be a bad ideal. If I were you though I would try to earn it either through Harvest DeFi or publish0x.

What Is the Future Of IFarm

This is what's stated on their website when it comes to the road map. "Yield farming is not going away, and gas prices are not getting lower. Our goal is to simply provide an easy way for people to benefit, and make your hard work much easier, while looking for safe projects to add to the farming repertoire." So with them saying not to much in particular I think we can just expect a easier experience when it comes to using there DeFi.