Hello PUBLISH0X community and welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible” area. This Sunday we are going to introduce Harvest Finance (FARM)!
Have you ever heard of this cryptocurrency?
Well, probably yes, because you will have noticed that it is one of the currencies that Publish0x uses to reward readers and authors.
If you want to know more about this coin, that we also find on Publish0x, read the article to the end!
Harvest Finance is a new DeFi project, essentially a passive fund. Harvest was created by an anonymous team in August 2020, and it is not a fork of any large platform. Like Yearn, it is an income aggregator, but it does not have a star founder. As a yield aggregator, Harvest's service is arduous. Obtaining stablecoins and LP tokens from investors and putting them into the smart contracts of the leading DeFi platform can reduce the rate of return, but investors can be compensated with FARM tokens.
Unlike other yield farming protocols, Harvest has an add-on for token FARM. In summary, 30% of the profits made by companies is used to buy FARM, which means that the currency fundamentally provides “dividends” to the owners.
Today, there are already more than 41 billion dollars locked up in DeFi protocols like Maker, Aave, Synthetix, and Uniswap. If you ask me, this shows the huge potential of DeFi and Yield Farming.
Harvest lowers the barrier to entry for people who don’t want to track DeFi 24/7, pay gas costs to harvest regularly and move funds between opportunities, etc. Harvest handles the APY tracking, strategy development and auditing, gas costs, and regular harvesting to ensure that returns compound. Holders of the FARM token can profit share in the yield farming revenue, receive incentives for providing liquidity in Uniswap, and vote to help decide the direction of the cooperative.
How to use Harvest Finance?
Navigate to harvest.finance and deposit stablecoins, tokenized bitcoin, Uniswap LP tokens, and other supported assets to start earning interest and FARM. Deposit FARM in Profit Sharing to share in the farming revenue.
Let’s see how the Harvest Finance homepage look like:
In this screenshot we can see that there are almost 500 million dollars deposited in Harvest with a monthly profits to Farmers around 6 million dollars.
FARM, in these recent months, entered in the portfolio of staking lovers also for its interesting annualized yield, currently around 35%. But, as you know well, we must not only focus on yield.
I had already talked about Harvest Finance in this article, when there was the dedicated contest last November.
Here there is my FARM SONG: Harvest Finance Easy Defy for all!
Harvest Finance is a great project with interesting opportunities of passive incomes, but what about a simple song that explains main features of Harvest Finance?
That’s why I invite you to listen my song to learn, in an easy way, some main features of FARM!
If you want to find out more details about this cryptocurrency, I suggest you follow me on Publish0x to receive the notification on the next article, which will be released next Sunday, dedicated to FARM!
Suggest me with a comment some crypto you would like to see analyzed and let me know your opinion about the FARM SONG!
