Harvest Finance is a decentralized protocol made to help people 'farm' cryptocurrency through yield farming: strategies where people put crypto at the disposal of startup applications to earn the people investing in said applications more cryptocurrency. The interesting thing about Harvest Finance is that one of its contributors was responsible for another yield farming platform: Andre Cronje is one of the developers for Harvest Finance and was the leading developer of Yearn Finance: an aggregator of yield farming that tried to make people more money by combining different platforms for crypto investing under one system. Now, Harvest Finance is being used to enhance yields and save crypto farmers money.
Some of the benefits of Harvest Finance are:
- Saving money on transaction fees. After 24 hours of farming, people using Harvest Finance were able to save over $500,000 in transaction fees.
- Making more money since Harvest Finance is designed to choose platforms with the highest profit margins.
- Having a strong community on Discord, Twitter, Reddit, and Telegram that can help newcomers.
- Harvest Finance supports a wide range of cryptocurrencies including USDT, WBTC, RENBTC, USDC, DAI, WETH, TUSD, Curve tokens, and tokens of the Uniswap liquidity pool.
- Harvest Finance even has its own token in the form of the $FARM cryptocurrency. It helps to regulate the system & is listed on multiple decentralized exchange like Uniswap, 1inch.exchange, Paraswap, and DeBank. The token can be traded on Probit, Gate.io, Hotbit, and LBank trading platforms.
Will $FARM and Harvest Finance be able to overtake other yield farming platforms and help farmers finally earn the most benefits from one platform? Only time will tell...
