![]() Additionally, the FARM token receives its value from the profits made through various deployed strategies. However, each strategy may focus on a different type of asset. The performance fee is used to purchase FARM tokens in the open market, which in turn is distributed to the users staking FARM in the profit-sharing pool. One of the unique features of the FARM token is that it gives the holders the right to a performance fee derived from Harvest's yield farming techniques. ![]() Moreover, FARM is an Ethereum token used for staking and yield farming on Harvest Finance. Besides, Harvest aims to make it simple for outside developers to contribute and be rewarded for their efforts with consistent and straightforward designs.įurther, the Harvest platform utilizes its governance token, FARM, which is used to provide incentives to yield farmers using the platform. Using these strategies, various past and future assets can be farmed through Harvest. In addition, as this website cites, Harvest aims to utilize multiple strategies that are adaptable and future-proof. Hence, the protocol provides an automated, simple, and affordable method for yield farmers to get involved in yield farming. Harvest Finance automates farming with regular harvesting on more than 100 different farms. Token farms manual#The main reason behind using Harvest Finance protocols, according to the FAQ section, is to avoid manual farming procedures, which may be time-consuming for an average user. ![]() All the more, Harvest aims to be a tool for yield farmers of all sizes to obtain automated access to the highest yield available across a variety of DeFi protocols. According to the website, thus, using the Harvest protocol, users trading in the cryptocurrencies may generate profit from DeFi platforms with the help of the latest farming techniques. Moreover, yield farming involves lending crypto using DeFi (decentralized finance) protocols in exchange for a fixed or variable yield rate. Yield farming is a process of locking up the holdings in a smart-contract-based liquidity pool and generating rewards. Harvest Finance is a farming protocol that automates the process of yield farming for users. ![]()
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