63
Greetings budding cryptoheads!
In this new and exciting blog, I will be covering the pros and cons, the ups and downs, the negatives and positives of every decision you make in the crypto space. Let's dive right in!
Harvest Finance - What is it and why do I care?
Harvest Finance is a DeFi-powered farming site, where users can deposit their liquidity tokens from other DEXs (like uniswap, sushiswap, pancakeswap, etc) to earn $FARM or $IFARM, as well as the native token of whatever DEX the liquidity token is from. Harvest finance also has some classical pools, in which users can deposit their tokens as they usually would on a yield farm.
$FARM Pros and Cons
$FARM is the native token of Harvest Finance, and is now one of the two tipping tokens for Publish0x! $FARM is available to swap on many many exchanges, including Coinbase, BINANCE and most DEXs. However, unlike $IFARM, $FARM is completely liable to the usual ups and downs of the market, so it is a riskier asset. In summary:
$FARM Pros
- More liquidity
- Traded on many exchanges
- Part of other yield pairs on other DEXs
$FARM Cons
- Not auto-compounding
- Must pay network fees to restake
$iFARM Pros and Cons
$iFARM is the interest-bearing version of the $FARM token. When harvest finance generates yields, 70% of the yields are used to increase the value of the deposits, and the other 30% are used to either give to users who have staked in other farms, or to increase the value of $iFARM. The idea behind $iFARM is that instead of rewarding users who stake their iFARM by giving them more iFARM tokens, Harvest simply increases the value of iFARM over time, so you don't have to waste money on network or transaction fees when you stake. In addition, iFARM is Auto-Compounding, so it takes no effort from you to earn exponentially more money! However, iFARM is currently not traded on many exchanges, and is hard to sell without massive slippage.
$iFARM Pros
- Auto-Compounding
- No network or transaction fees
$iFARM Cons
- Currently difficult to sell
- Hard to find anywhere that even acknowledges iFARM's existence
I hope this article will help you make decisions about your assets! Keep investing and best of luck to you all!
Also for those of you that have read my articles before, you will know that I am obsessed with the crypto-mining simulator Rollercoin, in which you can earn free ETH, BTC and DOGE without having to spend anything yourself! If you're interested or just want to help me out with the referral link click below!
https://rollercoin.com/?r=kowj4lth
Thanks for reading, comment below what you think my next article should be about!
