Every few days I check out my wallet on Harvest Finance to see how the yield is doing for my DAI. When I checked it out today I was a little confused by the the icon that indicated what protocols were being used. It has typically been Compound with IDLE being piggy backed every once in a while and this combo has kept the APY at least at 30% APY or higher! Todays icon though was not from either one of these and I had to look into what it actually was. Right now DAI and several other farms are using Float Protocol which yeilds BANK.
BANK is single handily producing a 28% yield which is fantastic to see! BANK is also the yield provider on another 3 farms including SUSHI, WBTC, and USDT with good yields on those farms to. Currently BANK is in its second phase with the DAI pool getting 125 BANK being distributed to the liquidity pools a day. With a price of approximently $800 that is $100,000 being distributed a day by the protocol.
Float Protocol is pretty interesting to read about and I would encourage yall to look into it as its pools are voted on then created. Once the phase is over they are voted on again and that really allows the community to control the liquidity pools and who wants what and the rewards for it. Its a step further for decentralization then is typically seen!
