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Difference between revisions of "Harvest Finance"
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Harvest offers more than 50 yield farming strategies across Ethereum Mainnet, Polygon and Arbitrum. The core principle of Harvest’s strategies is to auto-compound collected fees & rewards. | Harvest offers more than 50 yield farming strategies across Ethereum Mainnet, Polygon and Arbitrum. The core principle of Harvest’s strategies is to auto-compound collected fees & rewards. | ||
Socialising | Socialising network fees that come with auto-compounding attracts farmers of all sizes to come together and use Harvest’s farming strategies instead of doing it solo. | ||
Farming strategies are developed by Harvest’s core contributors and third-party DeFi projects who wish to integrate its solutions for their purposes like liquidity pool bootstrapping. | Farming strategies are developed by Harvest’s core contributors and third-party DeFi projects who wish to integrate its solutions for their purposes like liquidity pool bootstrapping. | ||
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Since June 2021, the buyback mechanism points<ref>https://medium.com/harvest-finance/harvest-points-its-buyback-mechanism-at-bancor-e71a884df1a1</ref> at the FARM pool on Bancor Network. The buyback mechanism applies a constant buying pressure on the FARM token<ref>https://twitter.com/Bancor/status/1446418984853819400</ref>. | Since June 2021, the buyback mechanism points<ref>https://medium.com/harvest-finance/harvest-points-its-buyback-mechanism-at-bancor-e71a884df1a1</ref> at the FARM pool on Bancor Network. The buyback mechanism applies a constant buying pressure on the FARM token<ref>https://twitter.com/Bancor/status/1446418984853819400</ref>. | ||
== Governance & Community == | |||
Harvest is purely an on-chain organisation with no format entity. Unlike most DeFi protocols, it doesn’t have active on-chain governance proposals about new integrations or collaboration. | Harvest is purely an on-chain organisation with no format entity. Unlike most DeFi protocols, it doesn’t have active on-chain governance proposals about new integrations or collaboration. | ||
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In October 2020, Harvest fell victim to a flash-loan attack – a technique that allows a trader to take on massive leverage without any downside. This led to some $24M in stablecoins being siphoned from Harvest’s pools, which accounted for roughly 3% of all deposits on the platform at the time. | In October 2020, Harvest fell victim to a flash-loan attack – a technique that allows a trader to take on massive leverage without any downside. This led to some $24M in stablecoins being siphoned from Harvest’s pools, which accounted for roughly 3% of all deposits on the platform at the time. | ||
== Notable Highlights == | |||
* FARM is the second asset listed <ref>https://blog.coinbase.com/harvest-finance-farm-is-now-available-on-coinbase-d938c7cc773?gi=3f26fed77cc1</ref>on Coinbase that has fully anonymous founders, right after Bitcoin | * FARM is the second asset listed <ref>https://blog.coinbase.com/harvest-finance-farm-is-now-available-on-coinbase-d938c7cc773?gi=3f26fed77cc1</ref>on Coinbase that has fully anonymous founders, right after Bitcoin | ||