Harvest Finance: After a Little Break New Ethereum Farms!

By Cje95 | Chronic Illness and Crypto | 24 Dec 2021

It should not be surprising to say that with the recent market turbulence and high gas fees that recently Harvest Finance has not added any Ethereum based farms. When good opportunities though present themselves the development team for Harvest is pretty quick to respond and that they have done. The farm that was recently launched was for CRV:cvxCRV which I was initially unfamiliar with until I looked into it.


What is cvxCRV?

The best place to start is what is the token involved? Well, cvxCRV is the tokenized version of veCRV, and veCRV is what users get when they deposit CRV into the liquidity pool for CRV on Convex Finance. Convex Finance gives users boosted CRV rewards for using it however when someone deposits their CRV into Convex it is forever locked onto Convex Finance. Since locking up a token forever is something that users hate the veCRV you get from Convex Finance for your CRV cvxCRV plays a huge role in getting those boosted rewards!


The Farm

With the farm just being launched it does have a nice high APY right now at 124.89% APY. This is broken down with an LP APY of 0.73%, 41.37% APY in auto harvest CRV and CVX, and finally 82.97% APY with iFARM rewards. This farm is really unique and something I am pretty impressed by because of what it is. Curve is not a DeFi application that I see facing any danger as it continues to be pretty well utilized and really almost a blue-chip DeFi application at this point. This as well as Convex being a well-run and utilized DeFi application having the two staked rewards added and stacked on the Harvest platform as well makes a ton of sense to have!


Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_



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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

Cryptocurrency and Blockchain are going to be a huge part of the future and no matter who tries it isn't going to be stopped! Here I try to give my best insight and thoughts into the latest crypto news, features, developments. Further, I look to discover any link to news from the United States ranging from social-political issues to stock market and economic data.

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