It’s 1am and my wallet is being raided. I thought all the proper security techniques were used, even cold storage. But nothing would stop this merciless scavenger from pillaging nearly everything of value. This nightmare was my reality, and it was all because I went on vacation for the weekend. Lets take a step back for a moment and recap the craziness in the crypto-verse that played out this last week or so before I decided to let down my guard for a few days:
- Few coin and CT influencers drama
- $EMN coin debacle, Andre / Blue Kirby quit twitter
- BREE exit scam/hack
- BitMex gets raided
- Lord of Scammers John McAfee arrested
All of this in the last 7–14 days, and doesn’t even include the continuous scams and rug pulls plaguing yield farming, where if you aren’t watching your screen hour to hour, you are likely losing money. When yEarn set off this farming craze, it was about losing sleep to make sure you weren't missing the next big farm. Now suddenly if you do sleep (or go on vacation), its not opportunity you are missing, its the thieves in the night.
‘Then why did you take a vacation and leave yourself exposed to thieves?’ you might ask, and dear reader I simply plead exhaustion. Crypto is my third job of sorts. I have my rent paying job for the fiat overlords, my “job” as a father of three, and then crypto stuff like chat modding and writing Pulitzer Price winning pieces such as this. Add the cherry on top that is yield farming, I have zero time to relax and I needed to put in some quality time with the family. Even vacations can be exhausting, and to be honest the security measures I employed were lazy, which I'm sure made all of those delicious treats the thieves gobbled up that much sweeter. So lets jump back to the scene of the crime as I managed to get a pic of the thief at work when they came back for a second helping!
So here he is, or at least one of them that rolled into our campsite at 1am and ate dog food, bread rolls, chips and anything else left half secured on the table. I thought my ingenuous security of wrapping a trash bag around this stuff would keep intruders out, and I could get a good nights rest. Even my cold storage food cooler was not immune to this beasts insatiable hunger. With vacation still going for another day, I had to resupply and my wallet was effectively raided by this handsome beast.
Wait, you thought my crypto wallet was raided? That maybe somehow one of those scams above lured me in with snake charmer APYs, only to rug me when I wasn't looking? No, thankfully it was only my vacation food stash that was impacted, and that's because after chasing so many farms and mentally draining myself I needed a change. That change came in the form of Harvest.Finance, an automated yield farming system that does all the hard work for me. They find the most secure farms with the best APYs, so I don't need to spend countless hours chasing, and then countless more watching and worrying. If I wanted to take a vacation, it means taking my money out yield farming, missing out on so much potential. For a larger investor, that could be literal thousands of dollars a day wasted. Should everyone just be chained to their monitors 24/7 so they can make a decent return on their money while not being scammed? This was the first time in months I was able to break away without worrying about having my money in the crypto market, because in any market Harvest Finance makes money, and it does it safely.
Even if a project is not a scam, crypto can be a vicious market, and the insane APYs you see generally come from a projects “Pool 2" where a user must stake both the project token + another valuable asset like ETH or USDC. If you happen to farm these pools and a massive price fluctuation happens overnight, you could be stuck holding a worthless asset while your valuable token is drained away.
Take this Sashimi chart for example. In 8 hours it went from peak price to a 90% price dump. If you were farming pool 2 and sleeping during this period, the impermeant loss would be staggering. With Harvest Finance you don’t need the native $FARM token to use the platform, or enter a “pool 2”. Users can make simple stable coin deposits, earn some of the best APYs on the market, all while saving time and gas. Additionally users can then farm and utilize $FARM, a profit sharing token which receives a share of profits generated by the system. These stacked APYs offered by Harvest Finance are the best in the industry (that arent Pool 2 IL nightmares).
Conclusion
Yield farming while profitable is full of deception, scams and volatile assets. Unless you are focused and time committed near 24/7, you are exposed to major risks that can come unexpectedly like a hungry donkey in the night. Harvest Finance offers a haven for all yield farmers who want to easily participate in the eco system safely, without the need to obsessively follow project news or twitter sentiment to ensure you wont become broke overnight. I never could have safely left my money in yield farming, earned the same APYs and taken a vacation had Harvest Finance not existed. Each week I have explained not only how this project works, is reliable, and makes you money, and this weeks deployment of the “anti-rug” timelocks shows that Harvest is dedicated to your safety as well.
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 📜
