Degens, farmers, lend me your ears; For I have a story to tell you of potential yields so vast the hands of Ceres himself could not contain its glory. I speak of Harvest Finance, the next evolution in farming degeneracy. You see with so many Chads, whales and noobs rolling through crypto like its 2017 ICO season, gas prices have gone crazy, and scams have shot up like the divorce rate during quarantine. What is a humble yield farmer to do? This is where Harvest Finance is your ally, and formally invites you to join the gathering of other farmers who are saving themselves costs and piece of mind knowing not only are their hard earned wages safely stored in the digital vaults of the Harvest Finance collective, but those funds are put to #HardWork ensuring the most fertile fields are used to sow the largest yields possible.
All these fancy words mean nothing you say? You want to see it in action? Okay first lets consider first what a single humble farmer must do to successfully farm at Curve.fi: Deposit stable coins at Curve (gas), deposit the “yToken” into the Curve Dao (gas), wait X amount of time, harvest CRV (gas), sell CRV to stable coins(gas), then repeat step 1 for continuous compounding (gas, gas, gas…). Here is a snapshot of what the initial versions of Harvest.Finance strategy was at Curve.Fi (CRV):
This essentially illustrates all of those gas intensive steps I mentioned above, with Harvest Finance doing all of those manual steps for you. But far beyond the automation and time savings are the cost savings of thousands of farmers doing these steps individually, versus a single pool doing acting as “one” farmer. $200,000 of individualized gas costs just became $200 in gas costs shared across all users. Money saved in time and costs = More Bread for the People.
What is not demonstrated above is how the Harvest Finance native token, $FARM, comes into play. When users deposit stable coins or wrapped versions of BTC into the liquidity pool, not only are users now farming a specific strategy, they also receive an “fToken” which represents their share in the strategy. These fTokens can then be staked in Harvest Finance to earn $FARM tokens. $FARM tokens is where the real alpha is at, because staking those earned $FARM into the v2 Proft Sharing pool receives a 30% share of any profits generated by funds performing in the CRV/SWRV strategies, paid back in more $FARM. This means the strategy profits are constantly placing more buy pressure on $FARM, driving up the market price of $FARM.
Now consider as of this publication Harvest Finance is only 11 days old, and already has three active strategies! Not only do farmers in the collective benefit from today's strategies, they are also immediately ready to benefit from all future strategy implementations. What will the next 30–60 days hold for Harvest Finance? Few…
Important Links:
· Join the 👩🌾 revolution at Harvest.Finance
· Follow project updates 📰 on Twitter
· Chat with other farmers on the Official Discord 🤝
· Build your 🧠 at the official Wiki
· More project info at Medium 📜
