Gas. One of the things us crypto traders hates, but we know is necessary. You can't trade without a functioning blockchain supported by either miners or stakers. However in this vast crypto ocean there is Harvest finance, they are tackling this issue head on while helping people increase their liquidity mining profits.
Background
Harvest Finance is fairly new and fresh coin, it was released a year ago yesterday (Happy birthday!) on its website for DEFI farming. The network was created by Andre Cronje, not directly but the team was heavily inspired by him and the dev team themselves are unkown. The platform has had a bumpy ride however. A month after its launch it was attacked by exploiters, they took several smaller loans to a total of sum of 50 million causing Curve's stablecoin to stretch in price, they were therefore able to drain 24 million dollar of liquidity from FARM. A weird thing about this attack was that there was a deposit of 2.5 million stablecoins to the developers address from the attackers wallet address. There is a bounty for one million dollars (initially 100.000$) to whoever can capture the exploiter.
Network
Harvest finance exist to find the best yielding liquidity mining pools on different platforms and gather them in one place while also implementing their own FARM token into the mix. The contracts are set up so if the developers ever make a change a web3 event is sent out to any bots that are keeping an eye on the blockchain and gives investors a 12 hours heads up for the change. If they don't like the change they can withdraw funds. Any changes are however also voted with the FARM token as governance.
FARM's brother IFARM is the yield bearing token giving rewards to users on their platform. However, they do this with a unique smart contract, instead of paying out more IFARM, they simply increase the price of the token in relation to the rewards, meaning no money has to be spent on gas fees. The distributionof the tokens also gives 20% of the freshly minted tokens to the devs, roughly 80.000 FARM are in dev wallets as of writing this.
Use cases
The main use is to mine liquidity, You deposit the token pair to the platform, or more accuretly, you deposit them to Harvest finance and they provide the liquidity for you. You then get rewarded by either FARM, IFARM or a token tied to the pair. If you have IFARM you can deposit on their website as a collateral and get stablecoins. They also have several methods apart from IFARM where they auto-harvest your rewards for you to help avoid gas fees. If you are into farming liquidity and want a strong but really profitable platform Harvest finance might be worth checking out, it threads the line between risk and big reward.
FARM today
The liquidity farming pool is going strong with some insane pairs. Some of them have been 5.000%+ for a week before going down to 300%. The initial exploit it suffered as well as the dev team not being doxxed provides a bit of uncertainity. In this case the rewards outweigh the risks as you can find some big money by going into this platform. Do however, take this post with a bit of salt as all of us here at Publish0x are a bit biased towards both FARM and AMPL as we have those as tip rewards, if they perform well we get more money.
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