Man oh man has the team ramped up new editions on this chain! Today while I was writing this they added yet another farm! Starting out with the biggest name out there Uniswap having two new farms added. These farms BUSD-USDC and RENBTC-WBTC are both V3 farms continuing the expansion into Uniswap V3 farms.
The next set, of which there are 5, are all from Balancer. Three of the farms are 50/50 farms meaning that they assets are 50% one and 50% the other and those pairings are WBTC-WETH, USDT-WETH, and USDC-WETH. All of the Balancer farms receive their APY yield via three sources. Those sources are a liquidity provider APY, auto-harvested BAL, and finally iFARM. This is much like Uniswap V3 farms and is really nice to see as it provides several layers of APY protection so it cannot fall to much. There is also a 40/60 farm which is DAI-WETH and a 80/20 farm which is BAL-WETH. All of these Balancer farms have nice healthy APY's with all but the WBTC-WETH farms yielding over 25% APY.
Of the two new farms that do not fit within either one of these platforms the first one that appeared was ShapeShift's FOX-WETH. ShapeShift has been around for a while now and is a complete crypto management platform allowing you to buy, receive and trade a hundreds of crypto's on 11 different blockchains! FOX is ShapeShifts brand new native token that they have just recently airdropped to users! This pool rewards are claimed as iFARM and has an APY of over 300% at the moment.
The last ETH blockchain farm that was added while I was writing this article was Liquity's LQTY token. It is available to swap for on all of the big DEX's. Liquity allows for interest fee liquidity if you borrow there stablecoin LUSD against your ETH. I am not exactly sure how I feel about this idea but it is the newest farm that has been put on Harvest and so I will include it even though I find the idea odd and something I would not really partake in.
Binance Smart Chain
While the Binance Smart Chain did not get new farms what Harvest did do was revamp two of the farms sending their APY yields to the moon! One of the BELT farms BELT-BNB was revamped and it now yields an impressive 159% to 179%. The range is due to if you utilize the new feature Harvest has offered for ampliFARM.
To access this booster you have to stake over 3 bFARM for 2 year you can continue to increase the earnings by locking in more bFARM on the booster page. This idea reminds me almost of staking ETH right now except the bFARM will only be locked up for two years. ETH is going to be locked up for however long it takes the network to upgrade. While I am interested in locking up some of my FARM or iFARM I do not know if I trust BSC enough to lock up any FARM on that network.
The other farm that was redone was the ICE-BNB farm which has had its APY shoot up to 891% to 901% APY. Most of this comes from the ICE distribution though (over 800% APY is from ICE). It will be interesting to see if they continue to roll out this booster feature on more and more Binance farms or if they maybe even move it onto ETH or MATIC Chains.
Since the Polygon Chain is brand new the three farms it currently offers all fall under the new farms category. While rather basic farms they do use two different decentralized exchanges. Like with BSC the iFARM rewards are called a little something different here and that would be miFARM for the Polygon Chain. The first two farms are from QuickSwap which if you are like me you had not heard of. Well, QuickSwap is the second most popular exchange on the Polygon network behind Uniswap who is the biggest. The farm pairings iFARM-QUICK (this is Harvest's governance token and QuickSwaps governance token) and ETH-USDT. The former farm however only yields in iFARM while the latter currently yields mostly with auto-harvested QUICK but does have an iFARM boost.
The third and final farm is from a DEX many of us ETH DeFi people have used at least once and that is Sushiswap. Again this farm is a basic one with the pairing of ETH-USDC. Currently, the majority of this yield comes from iFARM and not from SUSHI and is yielding 36% APY. While the miFARM does not have a place to stake itself I would expect to see Harvest implement something like this sooner rather than later.