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This evening with my daily check-in on Harvest Finance I saw bam we have 4 new Etherum farms incoming! Two seem good to go and fully functioning while two others have no APY listed yet and currently have under $1 deposited. The two fully functioning farms are yielding some CRAZY APY's in terms of iFARM!
Before this listing, I had not heard of Phuture Finance but upon some basic searching, they state they are a DeFi protocol for passive index strategies! As a sucker for passive income streams I look forward to seeing Harvest's official announcement of this but from what I have found on Phuture's website I am really interested. The pairings utilize Phutures Native token PHTR which is something I would expect as a new protocol trying to lift itself off the ground!
The pairings that you can see above are PHTR-ETH and PHTR-FARM. The first pairing is one that honestly is to be expected with the platform operating on the Etherum Chain but the second one PHTR-FARM I really like to see as it utilizes Harvest token FARM itself! I love to see Harvest's team teaming up with other DeFi platforms to get its token more utilization! Especially with the change back to FARM by the PUBLISH0X vote, this could be a possible utilization for your earnings!
The APY's are as high as they are in part because of the amount deposited in the farms. The PHTR-ETH which is yielding over 2,000% APY has only $16k deposited so far and the second farm PHTR-FARM only has a little over $6k deposited in it. I will say that PHTR token is rather cheap in regard to what a lot of tokens cost in DeFi at only $0.284 USD per token! This low cost or barrier to entry is enticing for someone like me who can purchase a larger stake than I would in other farms like most of the Uniswap V3 pools.
This will definitely be something I look harder into tomorrow morning and see how this functions. At its worst, it would seem to be a nice iFARM fountain for those who are long-term believers in the Harvest platform while it also could be a nice little gem finally breaking through! Remember to always DYOR and never invest more than you can afford to lose!
