About Harvest Finance (FARM)
Harvest Finance is a decentralized platform that encourages automated cryptocurrency yield farming to its users. It allows to deposit ERC-20 tokens into smart-contract-operated vaults. In exchange, users receive fTokens. These tokens represent their share of the vault, and the vaults automate yield-generating strategies to optimize returns. According to the website the project aims to identify and aggregate the highest-yielding farming opportunities across the DeFi industry.
The platform claims to continuously evaluate and integrate new projects as part of its yield-generating strategies. This is done to ensure that users have access to profitable farming opportunities on the blockchain.
The Harvest Finance project was first announced in July 2020 and undertaken by an anonymous team of blockchain and finance specialists. Harvest Finance was deployed on the Ethereum blockchain network and has also since been made available on the BNB Chain. This broadens its accessibility and potential for integration with various DeFi protocols.
FARM is the native utility token of Harvest Finance, serving multiple roles within its ecosystem. It can be staked in profit-sharing pools where users earn performance fee rewards. Additionally, it is used in liquidity mining where users provide liquidity to decentralized exchanges (DEXs) like SushiSwap to earn both liquidity mining rewards and a share of transaction fees from the DEX. These liquidity provider (LP) tokens can then be staked in Harvest Finance vaults to secure further liquidity incentives paid in FARM. Moreover, FARM token holders have governance rights, allowing them to create and vote on proposals that influence the platform’s development and operations.
Harvest Finance is known by its token ticker $FARM. Harvest Finance price is updated and available in real-time on Binance.