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My oh, my has Harvest been working! Previously I had talked about all of the upgrades that were either inaction or on the way with Harvest Finance 3.0 and they have done everything but back down. That being said what are the newest updates?!
Chain Farms
Ethereum/Arbitrum
The Ethereum chain has not received any additions. However, since the Harvest 3.0 announcement that introduced the Layer 2 solution Arbitrum Arbitrum has received its own tab on the dashboard! This allows individuals to easily access this cheaper way to utilize the Ethereum chain.
Currently, there are only 6 farms and the TLV is less than $1,000 USD but with it being a new launch this should not be a surprise. Of these 6 farms, they come from two different protocols. The first provider is Curve and the following 4 farms are listed CRV:2Pool, CRV: EursUsd, CRV: RenWbtc, and CRV: TriCryptoV2. Unlike most farms, that offer eye-popping sums these farms offer much more sustainable yields. It is also important to note that none of these farms offer any FARM or iFARM emissions.
The yields for the farms are as follows CRV:2Pool earns 2.01% APY with 0.04% in Liquidity Provider APY and 1.97% in auto-harvest CRV. CRV: EursUsd earns 5.09% APY and this is in auto-harvested CRV. CRV: RenWbtc earns 1.68% APY with 0.02% liquidity provider APY and 1.66% in auto harvested CRV. CRV: TriCryptoV2 is the highest yielding Curve farm with a total APY of 6.50% with 0.71% liquidity provider APY and 5.79% in auto harvested CRV.
The other two farms are provided by Stargate a protocol I am not familiar with but hosts the two stablecoin offers. For the Stargate: USDC farm the APY is 2.69% and for the Stargate: USDT the APY is 4.02% both of these are by auto harvesting STG the Stargate native token. These are pretty great rates when you keep in mind the exceptionally low cost of transactions on Arbitrum.
The additions to Polygon have really really been adding up recently! Almost all of the new additions are from Jarvis Network which is a Forex market. Now I have not ever done anything with Forex before so I am not entirely sure how it all works. The Jarvis farms can be broken up into two categories though. One group is for HODLing and in the other group, the contracts have a set expiration date (this current contract is for July 22) and auto-compound.
For the HODLing group, recent additions include Jarvis: 2SGD, Jarvis: 2CAD, Jarvis: 2JPY, Jarvis: 2EUR, Jarvis: 2NZD, Jarvis: jCHF-WETH, and finally Jarvis jEUR-WETH. Each one of these farms represents a single currency and for the farms with a 2 in front of them what is deposited is a highly liquid synthetic version of the currency and the other is a stablecoin pegged to that currency. The Singapore dollar farm is 2SGD and yields 30.22% APY. 2CAD is the Canadian dollar and it yields 26.97% APY. The Japanese Yen is 2JPY and it yields 31.84% followed by the 2EUR yielding 40.02% and the last 2 farm is the New Zealand dollar 2NZD yielding 42.19%. There are two other HODL farms but they are tied to WETH and are the jCHF yielding 932.24% APY and the other is the jEUR yielding 919.67% APY.
The second group with expiring contracts is agDEN(JUL22)-2EUR a pair of Denmark's currency with the Euro and it is yielding 1131.03% APY, the JRT(JUL22)-USDC farm yielding 374.17%, and finally AUR-WETH yielding 5312.87% APY.
Two farms have been added as well that are from Balancer and do not deal with Forex. Those are Balancer: stMatic and Balancer: MaticX. The stMatic farm yields 7.03% APY while the MaticX farm yields 24.24% APY. Overall it is safe to say that this chain has been extremely active with the development and rollout of new farms!
Last we have the BINANCE Smart Chain or BSC chain. This chain for some time now has slowly been dying and now is officially dead. There is not a single active farm on it as all have been moved to inactive. While Harvest has not announced if there will be further additions it does not seem like there will be since it has been months since the last addition.
Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to further support me below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
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