9/11/2023 0 Comments Harvest finance total supplyHarvest Finance's protocol design automatically farms the highest available yields and distributes the profits to users in the pool. Most assets can be farmed through the platform. If not, they will be readily available once 'respective strategies get developed.' In addition, the protocol offers a wide variety of features and customization options, making it an attractive option for both experienced and novice users. The platform’s interface is straightforward to navigate, and its documentation is clear and concise. The Harvest Finance protocol is designed to be user-friendly and accessible to everyone. As of mid-October 21, 2020, its TVL officially sits at over $1 billion. Īround mid-October, Harvest Finance accumulated over $334 million in TVL. The following week from this milestone, its TVL doubled to over $704 million, ranking it as the seventh most valuable DeFi protocol, according to DeFi Pulse. Harvest Finance has a token with the ticker symbol $FARM, which has a supply of 690,420 FARM and is to be distributed for four years from its launch. We hope this will make yield farming more accessible and help create a sustainable community-governed farming cooperative that only has one goal in mind: #BreadForThePeople. □□□□□□ Their platform optimizes yields using the 'latest farming techniques.' In their launch statement (posted to Medium), they explain, Harvest Finance was launched on September 1, 2020, to maximize returns for yield farmers by automatically allocating capital to DeFi protocols offering the highest returns. It was reported that the anonymous developers behind the project have an admin key that gives its holders the ability to mint tokens at will and steal users’ funds. The holders of the governance key would thus have the theoretical possibility of stealing all of the $1.05 billion in assets committed to the protocol, in addition to the funds in the Uniswap pool. Its TVL had fallen to $109 million as of June 2022. FARM fell by 65% in an hour, and Harvest Finance’s total value locked fell from just over $1 billion to $290 million, according to data from DefiLlama. In October 2020, Harvest Finance was exploited for $24 million after an arbitrage trade manipulated the price of stablecoins held in the protocol’s votes. In October 2020, the total value locked (TVL) on the platform exceeded $1 billion. It has its cashflow token with the ticker symbol $FARM. Harvest Finance (launched in September 2020) is a yield farming platform that farms the highest available yields from DeFi (Decentralized Finance) protocols.
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