Harvest Finance: BANK Putting in Work

Harvest Finance: BANK Putting in Work

By Cje95 | Chronic Illness and Crypto | 26 Mar 2021


Every few days I check out my wallet on Harvest Finance to see how the yield is doing for my DAI. When I checked it out today I was a little confused by the the icon that indicated what protocols were being used. It has typically been Compound with IDLE being piggy backed every once in a while and this combo has kept the APY at least at 30% APY or higher! Todays icon though was not from either one of these and I had to look into what it actually was. Right now DAI and several other farms are using Float Protocol which yeilds BANK.

 

BANK is single handily producing a 28% yield which is fantastic to see! BANK is also the yield provider on another 3 farms including SUSHI, WBTC, and USDT with good yields on those farms to. Currently BANK is in its second phase with the DAI pool getting 125 BANK being distributed to the liquidity pools a day. With a price of approximently $800 that is $100,000 being distributed a day by the protocol. 

 

Float Protocol is pretty interesting to read about and I would encourage yall to look into it as its pools are voted on then created. Once the phase is over they are voted on again and that really allows the community to control the liquidity pools and who wants what and the rewards for it. Its a step further for decentralization then is typically seen! 

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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

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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