Harvest Finance

Halal Rating :
Uncomfortable
Last Price $33.6 Last updated:
Rank 807
1D Change -1.89 %
Market Cap $22.61m
Circulating supply 672,183
Maximum supply None

Crypto Overview

Categories
  • DeFi
  • DAO
  • Ethereum Ecosystem
  • Yield Farming
  • Yield Aggregator
  • Governance
  • Polygon Ecosystem

Overview

Harvest Finance is a yield aggregator platform launched in 2020. It allows users to automatically farm the highest yielding DeFi opportunities across various protocols. The FARM token serves as the protocol's governance token, allowing holders to vote on proposals and receive a share of protocol revenues.

Purpose and Utility

The primary purpose of FARM is governance and revenue sharing within the Harvest Finance ecosystem. Token holders can participate in protocol governance decisions and receive a portion of the platform's revenue. The token also provides incentives for liquidity providers and farmers using the platform.

Business Model

The platform generates revenue through yield farming strategies across various DeFi protocols. A significant portion of this revenue is distributed to FARM token holders. However, the core business model involves interest-based lending and borrowing activities.

Real-World Adoption

Harvest Finance has maintained consistent usage within the DeFi ecosystem, though at lower levels compared to its peak in 2020-2021. The platform continues to manage yield farming strategies across multiple chains and protocols.

Development Activity

The project maintains active development with regular updates to its farming strategies and security improvements. The team continues to expand supported protocols and optimize yield strategies.

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