Harvest automatically farms the highest yield available from the newest DeFi protocols, and optimizes the yields that are received using the latest farming techniques. The top exchanges for trading in Harvest Finance are currently Bitribe, Hoo, Uniswap (V2), Poloniex, and Gate.io.
You can find others listed on crypto exchanges page. Harvest is described to automatically farm the highest yield available from the newest DeFi protocols, and optimizes the yields that are received using the latest farming techniques. FARM is the governance token for Harvest. It is claimed that FARM holders can vote on proposals for the FARM operational treasury and receive the 5% fee from Harvest operations.
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 472,894.536
FARM has a total supply over 4 years of 690,420
14,850 FARM has been burned in week 3
5,846.9 FARM has been burned in week 4
Harvest was completely bootstrapped, with no VCs and no premine
What is fDAI, fUSDC, fWBTC?
fDAI, fUSDC, fWBTC 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 problem does Harvest Finance solve?
The DeFi space is becoming more complex as more protocols are being introduced. Harvest Finance aims to help non-savvy users yield farm and get the highest DeFi yield while saving time and money.
For users who are yield farming with small amounts of capital, it may not be the most effective use of time to constantly harvest yield from the various DeFi yield farms. Constantly harvesting yield will also incur high gas cost. Harvest Finance collates capital from various yield farmers to do yield farming more effectively saving time and money for users.
How does the Profit Share work? Where does the 30% come from?
The Harvest Cooperative is comprised of humble farmers pooling resources together in order to earn profits and become the largest industrialized farming co-op in the world. When farmers deposit, Harvest automatically farms the highest yield with these deposits. 70% of these profits are distributed back to the depositors.
The other 30% of profits are used to market buy FARM tokens en masse. These FARM tokens are then distributed proportionally to the Harvest Cooperative who stakes FARM tokens in the profit share pool. This aligns long term incentives with our FARM holders.
In addition, the Profit Share pool also receives weekly FARM emissions from the total supply of 690,420. The breakdown of emissions can be found in the weekly Medium updates from the team.
We would like to thank Haechi, Peckshield and CertiK for their hard work on the audits.
The Harvest contributors are rewarded with Harvest Action Points (AP). The Harvest Actions Point (AP) is an ERC20 token that can be redeemed for FARM on this page.
FARM is the governance token for Harvest, an protocol to automatically farm the highest yield available from the newest DeFi protocols and pools, and optimize the yields that are received using the latest farming techniques. Liquidity Providers can deposit stablecoins, tokens or pool tokens and earn FARM. Harvest Finance is an automatic yield farming protocol that helps traders take advantage of the latest DeFi platforms with the highest yield.
Is Harvest Finance safe after the hack?
Harvest promised to work on mitigation strategies to stop this kind of flash loan attack from occurring again in the future. They are also looking into insurance options and reparation strategies. Specifically, a new yCRV vault is open for deposits with the flash loan attack vector mitigated so it can no longer be used.
One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.