An Upgrade to Harvest Finance I hope to see soon

By Cje95 | Chronic Illness and Crypto | 24 May 2021


Harvest Finance's development team has worked at a breakneck speed to bring new farms and to even deploy on a whole other blockchain since their initial inception. Huge strides have been made across the whole platform and they have been tweeting out recently what the new user face will be like and I have to say it looks pretty cool. The biggest thing that they have rolled out in my opinion is iFARM which is the 2.0 version of the native token FARM.

 

The iFARM upgrade was critical as it allowed those who had it to automatically stake their amount without having to spend gas to stake it like it does with FARM. Many of the newest farms have it to where the distributions are in iFARM and not just FARM. This allowed smaller participants like myself to be able to participate much more efficiently and not lose a huge hunk of profit with gas fees. 

 

With the continued rollouts one this has been absent and I have been pretty surprised by it. When iFARM first came out and then Ethereum farms continued to roll out with it I figured with it being the 2.0 version that it was going to be only a matter of time before FARM was replaced by iFARM. This has not occurred though as the original farms and the highly used stable coin farms for example continue to only get FARM distributions. It is a little disappointing that they have not just rolled this out entirely as even in terms of price iFARM naturally is worth more than FARM is. I also feel it would be much easier for a yield farm platform to have a single native token rather than two. 

 

I would assume this will be hashed out sooner rather than later. Especially with this huge upgrading they are getting ready to launch this month it would make sense to kind of roll it all into one. It is definitely something to keep an eye on with the emissions clock being reset in a couple of days. That is typically when Harvest's team releases the new farms or they do it right around then. I feel like the emissions schedule which is released when emissions are changed would be much easier to calculate and follow. It is a shame that those who stake stable coins currently get a token that is of lesser value and lacks the utility that iFARM does. 

 

Since Harvest's teams has always been quick to fix discrepancies and issues I look forward to seeing this one also addressed. I am not certain but I would think this would also drive more interest to the platform and thus lead to a price increase in iFARM. No matter what those Harvest has always had the farmers best interest in mind and that is a huge deal. It keeps the users feeling safe and maintains trust in the platform. Thus stability and growth!

 

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Cje95
Cje95

Graduated from Texas A&M in May of 2020 had dabbled in crypto since 2017 but dove in at the end of 2019. December of 2020 packed up and moved to D.C.! Huge sports fan, space nerd, and international newsreader! Follow me on Twitter @Cje95_


Chronic Illness and Crypto
Chronic Illness and Crypto

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