The farmer has patience and trusts the process. He just has the faith and deep understanding that through his daily efforts, the harvest will come. And then one day, almost out of nowhere, it does. - Robin Sharma
As Robin Sharma said, you have to understand and trust to process. Harvest Finance uses the newest DeFi protocols to automatically farm the highest yield available, providing the solution for the complicated manual yield farming. The process provides honest source of income for humble farmers. The Harvest ecosystem keeps evolving, and new top players from the DeFi market are added on the platform. At the moment, the farmers can chose from staking, or supplying LP into Stabecoins, Bitcoin, SushiSwap, Seigniorage, 1inch, Uniswap and mSTONKs pools!
Staking $FARM on Harvest Finance will lead to financial independence
I was a DeFi beginner and I am still a DeFi beginner. My farmer adventure started in September 2020, when I decided to play the long game and adopt a strategy for newbies.
I won 3 FARM tokens at the very first meme contest organized by Harvest Finance and I decided to stake them. By than the pool wasn't auto-compounding. Ethereum fees were not as bad back then and I paid under $10 to stake them.
Life was hard back than and as every human affected by the Coronavirus pandemic, I was looking for alternative sources of income! I had a lot on my plate, work related stress, financial debt and Harvest Finance was coming as solution.
Since then, I dedicated my time to the grow my farm and showed respect to the fields and harvest. I farmed and I farmed until my stash doubled. The hacker attack at the end of October didn't shake my faith and I continued farming. In the aftermaths of the attack, the Harvest Finance showed so much professionalism and dedication, winning my heart! The reaction of the community was the next thing that impressed me, as everyone stood still and supported the project. Hackers cannot stop the harvest, only the drought can!
My loyalty was rewarded, as the auto-compounding pool added more and more FARM in my baskets, with great support from the over 400% APY.
I kept winning prizes in the Creativity Contest and I kept pumping them in the FARM pool! The APY went up and down constantly, but I think 199% was the lowest I seen. The strategy paid off, and at least one farm was added from farming each month.
December came with festive vibes, Ethereum 2.0 and insane gas fees! At one point the gas fee was equal to my whole FARM stash! Vitalik, where's the improvement you promised? Meanwhile, the dashboard got some upgrades, showing the APY in a cooler way!
New Year, new resolutions, same ETH fees! If in the pool all goes as planned, and the reward is auto compounded the the rest, outside the pool is all gloom and doom! Still waiting for decent fees to stake 8.87 FARM tokens. At the current rates, I may have to wait until the spring ... of 2022.
As per today, 8th of February, my stash went over 29 FARM tokens. The ETH gas fees are going higher and higher but at least the FARM value is mirroring the fees. I still wait for better days, and 9 FARM tokens are being lazy on my wallet.
This FARM staking can be used by everyone, DeFi noob or seasoned veteran. It is a wise move as the reward will stack-up in the auto-compounding pool, generating more and more profit. My "FARM in the barn" is valued at $5122, while full baskets of FARM are waiting for the gas price to drop. Since September, I farmed 5 FARM Tokens ($1274), which is an amazing source of residual income.
I started this journey five months ago, with no FARM, and today I nearly touch the 30 tokens milestone. I divided the total FARM earned and the result is amazing. Harvest Finance shared $255 per month, the equivalent of many hours of work, while they've done all the hard work!
You seen the numbers, you seen the progress but maybe you ask yourself ... how to stake FARM? Don't worry ... as PVM prepared this lovely video which will teach you all the tricks of the trade!
Is you prefer a good old chart, here's a break down of the staking process/ Make sure you enough ETH to cover the transaction fees.
What does a man do? A man provides for his family! With FARM tokens staked, Harvest Finance will provide for the man! Is not an exaggeration when I say that the Harvest community is close to my heart. They've been there when I struggled, they've been there when I needed support and they always appreciated my work and efforts. Even if the developers are anonymous, I feel like I know them since the down of times!
Staking DAI for stable profit!
Farmer Paul had to recover from the fiasco stake on GYSR and move the DAI staked in there into something more rewarding. It was December 2020, and the 7.99% APY was good enough to put the DAI to work. They were already in my wallet and the first step was to allow Harvest Finance to spend them, action that costed me just $0.49 ETH.
The above fee was followed by 1.92 ETH to stake them. The transformation from DAI to fDAI was made automatically, and $0.48 ETH was required so Harvest Finance can spend my fDAI. I think by know Harvest Finance has my approval to order take-away and to make Netflix recommendations.
Fees and more fees as the approval fee was followed by $1.30 ETH to stake fDAI into the pool. It costed me $4.09 to approve, transform and stake 59 DAI. The APY at staking time was only 7.99%, however, the rate grew bigger as IDLE was added to the Compound and FARM rewards.
The advantage of staking stablecoins is that the value of the assets will stay the same, safe from the market's volatility. After two weeks, the APY grew to 33.62% and I was getting close to cover the ETH fees I paid to create and stake the fDAI.
Today, 8th of February, the reward earned by staking fDAI was 0.00691 FARM ($1.77). It may look a poor revenue but think again, as the initial investment was $59. This is 3% gains of the initial investment in less than 60 days. The reward will keep growing as the FARM value will surge!
Staking stablecoins is a wise way to earn residual income, specially with investments larger than $59. Looking at all the pools available on Harvest Finance, I strongly believe that any investment will bring enough bread to the table. The humble farmer can chose any pool and enjoy amazing returns. Harvest Finance does the hard work and provides #BreadForThePeople since the down of times!
Since I become a DeFi farmer, I see the Harvest Finance everywhere, including in reCHAPTA puzzles! Stay safe and enjoy the harvest!
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Now I have a reasonable amount of P0x Farm I really ought to look into something like this