Why Harvest Finance is Superior to other Yield Platforms
Everyone wants to make money in crypto. That’s why most of us are here, am I right? But what’s the best way to make money in crypto?
The obvious ways are investing, trading, and HODLing. But with the advent of DeFi we now have new ways of generating returns in the crypto markets, most notably being yield farming.
Yield farming allows you to put your idle assets into work via protocols and platforms that leverage strategies such as lending, providing liquidity, or staking to maximize returns.
By leveraging yield farming platforms, you can generate passive income and continue to stack dollars even in the most unfavorable market conditions.
That said, yield farming in #DeFi offers a unique edge over other ways of making money like holding.
Say you have 1 ETH and you want to hold it for a year.
- If you hold that 1 ETH in your wallet, it will be the same 1 ETH one year after.
2) OR you could put that same 1 ETH for a year to work at one of the yield platforms and still have that 1 ETH plus an extra $$ from liquidity incentives acquired over that year?
Some things are this easy. #DeFi finally allows small players to enjoy decent yields and interests on their humble holdings.
Now, the question remains; what platform should you use for Yield Farming?
DeFi yield farming is still in its infancy stage and there’s already a plethora of yield platforms to choose from:
There’s Yearn Finance $YFI, Harvest Finance $FARM, Value DeFi $VALUE, Badger DAO $BADGER, Vesper $VSP…so many of them out there.
So which one should you choose for the long run?
My bets on Harvest Finance, and this article explains why:
1. The Variety of Fertile Lands to FARM
It’s always good to have a choice. Harvest gives you a ton.
As you can see, Harvest features a wide range of high-yielding farm strategies, 57 active ones on Ethereum alone (there are also on Binance Smart Chain which I will take about more soon). Harvest strategies far outnumber the competition and feature a variety of different APY percentages with varying levels of risk.
There is literally something for everyone. Whether you hold the crypto kings ($BTC / $ETH), stablecoins ($USDC, $USDT, $DAI, etc.), liquidity provider LP tokens, NFTs, derivatives, and more; Harvest Finance has got you covered.
Let’s review these strategies in detail.
Fertile Lands for Crypto Kings — $BTC / $ETH
Harvest offers both $WBTC and $WETH Vaults as well as 4 BTC strategies through Curve that enable you to earn a yield on the biggest and safest crypto assets available. These strategies are for people who want to remain long on the safest cryptos out there while maximizing profits by earning a yield.
With Harvest, you don’t need to sell your $BTC or $ETH to book a profit, you can deploy these appreciating assets via Curve Finance and then put Liquidity Provider’s Tokens to Harvest’s strategies to earn a yield and maximize your profits. Also, these strategies can be used to hedge against potential downside for $BTC and $ETH.
With Harvest Finance strategies, you just win.
BTC Strategies:
- CRV:HBTC — APY: 11.73%
- CRV:OBTC — APY: 16.19%
- CRV:TBTC — APY: 3.62%
- CRV:REN/WBTC — APY: 2.17%
- WBTC — APY: 1.22%
ETH Vault:
- WETH — APY: 7.94%
Heaven for Stablecoin Lovers
Stablecoin lovers absolutely love Harvest Finance. Harvest offers 4 stablecoin vaults and 10 stablecoin strategies that are currently delivering APYs from 4.84% up to 51.07%!
Stablecoins are believed to be the best coins for yield farming because they offer a means of protection from fluctuations in the price (but not from the inflation) of the underlying asset so that your liquidation risk is greatly reduced and there is no chance of impermanent loss.
And where there’s demand, Harvest delivers. That’s why they support strategies for 11 different stablecoins ($USDC, $USDT, $TUSD, $DAI, $HUSD, $BUSD, $USDN, $EURS, $GUSD, $UST, and $USDP).
Top Stablecoin Strategies:
- CRV:UST — APY: 50.72%
- CRV:USDP — APY: 43.96%
- CRV:USDN — APY: 43.65%
- CRV:GUSD — APY: 33.59%
- CRV:EURS — APY: 39.54%
Stablecoin Vaults:
- USDC — APY: 26.98%
- USDT — APY: 22.81%
- TUSD — APY: 4.84%
- DAI — APY: 22.15%
Sweet Home Alabama for AMM LPs
Harvest features a wide range of yield farming strategies that leverage AMM protocols like SushiSwap and Uniswap to earn farmers extremely high yields, currently up to 272.5% APY.
These AMM liquidity protocol strategies enable you to stake the LP tokens (tokens that you get from providing liquidity in AMMs like SushiSwap) in Harvest’s supported strategies to earn massive returns.
Harvest’s AMM LP token strategies are probably the most complicated and carry the most risks due to impermanent loss, but they also provide some of the best returns on your assets. That said, they require a little more research and assessment of factors that may impact performance.
On another note, Harvest has demonstrated a commitment to collaborating with SushiSwap by preparing and deploying a series of new collaborative contracts and by submitting a $SUSHI Harvest vesting proposal that will be beneficial to both Harvest and SushiSwap.
Therefore, we can expect to see a long-standing relationship between the two protocols with many more lucrative SushiSwap AMM LP strategies to come.
Top SushiSwap Strategies:
- ETH-UST — APY: 72.51%
- SUSHI-ETH — APY: 29.14%
- ETH-USDC — APY: 28.69%
- ETH-USDT — APY: 25.83%
- ETH-DAI — APY: 16.59%
Top Uniswap Strategies:
- WBTC-KLONX — APY: 272.5%
- FARM/GRAIN — APY: 178.91%
- WBTC-KBTC — APY: 164.75%
- FARM/ETH — APY: 45.25%
- ETH-DPI — APY: 22.09%
The Only Spot Farming in the NFT Space
Currently, Harvest’s farm strategies with the highest APYs in the industry are powered by NFTs by NFT20 — a decentralized NFT trading protocol that enables you to trade, swap & sell NFTs, create pools of tokenized NFTs, create dutch auctions, and swap your NFTs to anything.
The native token of NFT20 is $MUSE and a total of 500 $MUSE per day is distributed to NFT20 farms. When you farm these NFTs with Harvest Finance you are rewarded with $MUSE and $iFARM with the $iFARM rewards receiving a boost from Harvest’s auto-compounding Profit Sharing Pool.
Top NFT Strategies:
- DUDES20-ETH — APY: 800.43%
- ROPE20-ETH — APY: 700.91%
- MCAT20-ETH — APY: 601.82%
- MASK20-ETH — APY: 408.69%
- MUSE-ETH — APY: 322.63%
Fertile Lands on #BSC
Harvest Finance now interacts with both $BSC and $ETH simultaneously to provide their users with more fertile lands to farm than ever before:
https://twitter.com/harvest_finance/status/1377252637599354880?s=20
Thus far, there are 5 groups of Binance Smart Chain farming strategies including Venus, Pancake, Goose, bDollar, and 1INCH. At the time of writing (April 5, 2021) the $BSC strategies do not yet distribute $FARM or $iFARM rewards but they will soon.
Top $BSC Strategies:
- Venus — APY: 1.98%-22.52%
- Pancake — APY: 17.05%-159.88%
- Goose — APY: 346.88%-4345.19%
- bDollar — APY: 504.46% -1806.52%
- 1INCH — APY: 57.18%-75.42%
One Pool To Capture Them All
As you can see, Harvest has a ton of interesting yield farming strategies that put your idle crypto assets to work (I touched on some above, but there’s even more).
Out of all the strategies available on Harvest Finance, there’s one strategy that stands out from the rest, and that strategy is the Profit Sharing Pool.
The Profit Sharing Pool is for $FARM and $iFARM token holders and is the best strategy for maximizing yield.
Let me explain:
When you farm different strategies on Harvest Finance you earn either $FARM or $iFARM rewards in addition to the other token rewards involved in the strategy. You can then take your earned $FARM / $iFARM and stake it in the Profit Sharing Pool to earn even more rewards.
The reason it’s called the “Profit Sharing” pool is because 30% of the yield farming revenue earned by all farmers on Harvest Finance (across all the possible strategies that I’ve listed above) is used to buy $FARM tokens directly from the market en masse and then distributed to stakers in this pool.
The number of $FARM tokens stakers receive is proportionate to their weighted stake in the Profit Sharing Pool and the $FARM stakers receive is automatically compounded upon every interaction with the pool, which further maximizes yield.
Currently, approx. 68% of the total $FARM supply is staked in the Profit Sharing Pool with a return of 34.37% APY for stakers.
But wait, it gets even better.
With such a large percentage of the total $FARM supply staked in the pool (68%), coupled with 30% of Harvest revenue being used to buyback $FARM, this creates a reduction in the available $FARM supply and if demand for $FARM increases or even stays the same, the price of $FARM goes up in price.
It’s simple economics of supply and demand that pushes up the price and the Profit Sharing Pool feeds into these economics, in theory resulting in an increasing $FARM price.
In practice, it’s still memes that drive the crypto markets, but with its mature state on the horizon I expect #DeFi to be more number-driven and this is where $FARM economics kick in.
Harvest Expands Strategies Rapidly Like No Other
Legacy — BTC/ETH
Stablecoins. Boom.
NFTs. Right there.
BSC. My pleasure.
LPs? A ton to choose from.
Profit-Sharing? Fantastic.
Harvest is constantly supporting new strategies that attract more and more liquidity and deliver some of the best APYs in town. There’s no other yield farming platform that moves as quickly as Harvest which is why they provide not only the most strategies but the latest and greatest ones as well.
Harvest is integrated with 18 different DeFi protocols and 2 different blockchains (Ethereum and Binance Smart Chain) and will continue to support the entire DeFi and blockchain ecosystem to provide its users with the most high-yielding strategies, all available from one intuitive dashboard.
And keep this in mind:
Farming as a Service will be a place to be for many DeFi degens that are yet to come. We are still at the beginning of the DeFi boom that started barely 1 year ago. Things are just getting started… we’re in for a wild ride ahead.
