After the development team at Harvest Finance first mentioned deploying on BINANCE Smart Chain or BSC for short tons of people have anxiously awaited further developments on when this could finally happen. Well, today the team announced that the core contract has been deployed on the blockchain along with 18 instances of values, strategies, and pools! They also published a checklist on not only where they are in the process but what they have left to do!
When going through this I was presently surprised with not only how far along they are but how transparent they are being in this process! By utilizing both the Ethereum blockchain and Binance Smart Chain the reach of Harvest can go a lot further! One thing that has really held me back in further utilizing this protocol is the Ethereum gas fees. Even with how high the APY is the gas fees really hinder small to medium-sized investments as paying $40-60 is super cost-prohibitive when you are only able to invest a couple of hundred dollars or less.
This next week appears to be a pretty big week for the team as they are gearing up to allow for deposits! While there will not be emissions with this meaning no FARM will be distributed to those who stake in these pools those that deposit will put themselves at the front of the line for emissions when they are started! Since Harvest has always had it set up with FARM being distributed front end heavy those who are at the front will gain/make the most FARM!
It is really exciting to see this coming to fruition as fast as it has as I will finally be able to start investing in this project again! While they will have fewer pools initially I think it is safe to say that the team will rapidly add to the initial pools as more people engage on this chain. The core contract deployment is a huge step in the right direction and I cannot wait to see this all finally launch!
