What is Harvest Finance?
Harvest Finance is an automated protocol for farming different DeFi protocols and pools. Similar to yearn.finance.
FARM token is used for
- Governance of treasury
- Governance of protocol
- Incentivize farming and align interests between users and token holders
How Harvest Finance works
You deposit stablecoins, tokens or pool tokens and earn FARM (and in some cases other tokens like CRV).
Purpose of Harvest Finance
- To help non-savvy users farm and keep up with DeFi.
- Pool funds together to lower gas prices.
How it’s different from YFI
- It’s not a fork of YFI. Developed from scratch.
- Has a treasury.
- 5% fees from using the protocol goes to token holders.
- Ability to greylist other contracts to keep them from farming the token, and just extracting value from the protocol and holders.
- Long-term distribution of FARM so people are incentivized to keep farming.
Total supply: 5 000 000
1st month: 181 320 tokens distributed over all pools.
Then: 23 555 tokens every week for 4 years.
- Circulating supply at launch: 0 FARM
- 70% Liquidity providers
- 10% Treasury
- 20% Team