A proposal to implement a token burn was declined. Recently passed proposals included seed investments into crypto projects and strategic business partnerships. A user’s voting power is contingent on the amount of FARM held. In terms of utility, the FARM cryptocurrency is used to pay out APY rewards from yield farms.įARM is also a governance token holders can vote on governance proposals for the Harvest Finance network and business operations. In a recent reading, total weekly profit gained across all pools was $106,900.Īn audit by CertiK was largely positive, stating: “Our audit was able to pinpoint numerous sections where the codebase could be improved optimisation-wise, however only a single minor vulnerability was pinpointed that was clarified by the developers to be desired functionality and should not result in an exploitable attack vector.” FARM: key token details According to official statistics, there is currently $206m in total value locked (TVL) across all pools and a price-to-earnings ratio of 52.96%. The amount of assets made available through Harvest Finance’s portal is extensive, with offerings across the Ethereum, Binance Smart Chain and Polygon networks. For instance, Harvest Finance’s own asset, iFARM, claims a 17% APY. Digging for FARM yieldsĪt its core, what is Harvest Finance (FARM)? By staking crypto assets, Harvest Finance allows users to gain annual percentage yield (APY) returns of varying quantities depending on the particular asset. All staking and investment activity should be backed up by independent research. Yield farming contains risks as well as rewards. Please note: This article is purely for informational purposes. The Harvest Finance team have remained anonymous, but the 690,420 maximum supply of FARM tokens could give some indication as to an age bracket for them. Should you add FARM to your basket? Let’s find out. In this Harvest Finance crypto price prediction, we look into the key features of the platform and the FARM token, the latest price action, and the forecasters’ FARM coin price predictions. Underpinning the platform is the native FARM token. According to Harvest Finance, automated farming has saved its 34,654 total users almost $211m in gas fees since launching in September 2020. Harvest Finance, as the name suggests, is a protocol meant to enable yield harvesting from leading and upcoming DeFi (decentralised finance) platforms.Īs an automated yield-farming platform, Harvest Finance offers users over 100 farms to deposit funds into.
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