FUNDAMENTAL ANALYSIS ON HARVEST FINANCE $FARM.

About $FARM :

What is Harvest Finance?

Harvest Finance is a DeFi protocol that pools user funds, then uses them in yield farms to achieve the highest returns at low gas costs.

The platform currently supports top stablecoins like DAI, USD Coin, and Tether’s USDT, along with two tokenized Bitcoins and a Curve liquidity provider token for the RenBTC-WBTC pool.

The stablecoins are currently being put to work in Swerve, a Curve fork that is promising to be more decentralized and “community-owned” than its predecessor. Swerve has over $600 million of locked value in its contracts.

The tokenized Bitcoin is being put to work in Curve.

Unlike some other pooled yield farming protocols, Harvest has an added component of the FARM token. FARM is a token that is distributed to providers of capital to the pool, providers of liquidity to FARM-crypto trading pairs on decentralized exchanges, and a coin that is continuously bought back.

1) CTA:

- The website of the $FARM is one with welcomed about their product without anything on hype than only to buy their product which is on farming of different tokens.

- $FARM was launched on 1st of Sept 2020 and also their twitter account corresponded with when this was launched with much activities on it from time to time like weekly mint of $farms as voted by DAO and its TVL which is presently valued at $50m

-It is a long project with finished product.

2) TOKENMOICS:

-$FARM was bootstrap launched without any , venture capitalist, or investor funds, with 0 circulating supply at launch. This is not coin for VC or DEV

- 70% of $FARM token printed weekly are for liquidity providers and also distributed to capital. Superb!

-10% of the $farm token is for marketing . Superb

- 20% of the $Farm token is for the Dev Team. This is not based judging with their effort for more than two years and this is also to be released not linearly.

3) KEY INNOVATION :

A key innovation of the $FARM token is that it entitles holders to a performance fee (currently 30% ETH and 8% BSC) taken from Harvest’s yield farming strategies. While each strategy may farm different assets, the performance fee is used to buy $FARM on the open market, which is then distributed to those who stake $FARM in the Profit Sharing pool. The price of $FARM is subject to consistent buy pressure as a result. Moreover, when staking, your FARM token is automatically compounded upon every interaction with the Profit Sharing pool. Directly speaking, the value of $FARM comes from the profits generated in the various deployed strategies.

4) SUPPLY OF TOKEN:

-$FARM was launched with a hard-coded maximum supply of 5,000,000 tokens which would be minted over the course of 4 years.

In this initial period, it was noted that emissions were higher than needed for the growth of the project. As a result, a total of 14,850.108 $FARM tokens were burned irretrievably to decrease the total circulating supply.

-In Week 5, FARM holders voted overwhelmingly to cap the maximum supply to 690,420 tokens( Which is the present max supply) by reducing the emissions of tokens by 4.45% every week until week 208 (27 August 2024) which is exactly 4 years from launch.

5) $FARM is to be competitor to $Yearn Finance.

There’s a potential competitor to Ethereum’s Yearn.finance (YFI): DeFi analyst https://cryptoslate.com/theres-a-potential-competitor-to.../

6) Its on majorly on all good exchnages like Binance which is an indication of good project

Conclusion:

It’s token to buy as its to serve as alternative to YFI after the pull out of Andre Conje the CEO of YFI from cryptocurrency

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