we have a big change coming to publish0x as BAT will be replaced by $FARM. Not the FARMFARM on Hive, but the $FARM from Harvest Finance.
Is doing publish0x a good move in here? Probably yes, as $FARM is an upward token.
But what is $FARM actually doing? Well, it is is an automated yield farming protocol for holders that want to put their assets to work in the highest producing yield-farming opportunities.
Harvest Finance aims to return the highest yields for its users by automatically deploying their deposited capital to a variety of DeFi protocols. It optimizes the yields on that capital by shifting it between various protocols to be able to hunt the best returns over time.
It also tries to reduce the high gas fees and usually the transaction costs by moving big chunks of assets, which for the normal would be impossible.
It has the tremendous sum of 500 million USD locked in assets, most of them in pools for BTC.
Their token, $FARM, has a cap of 690,420 tokens that will be fully issued by 2024.
The token holders receive 30% of the profits coming from the pools and have a stake in the governance posts.
Now to the most important question, would I buy $FARM? Probably not at the moment, as I need to test it. Also my funds are very low at the moment and I need to think twice before stepping into any new asset.
I'm happy that publish0x have chosen this token for payouts, as this is a very good opportunity to test it. If I'm happy with the results, I would definitely might think again and do a purchase on it. I will not sell it, as I think it is still a good concept, which has some high risks, but sill a good concept.
More can be read in the official publish0x announcement post.
For the publish0x that have earned over 1 USD worth of BAT, and want to keep the BAT, you can withdraw it from the publish0x platform till the 2nd of February, when it is going to be exchanged automatically to he counter value of $FARM at that time.
What do you think of this move by the publish0x Team?
Posted first on LeoFinance Beta