Harvest Finance: New Trustless BTC Farm Addition Yielding over 300% APY!

Harvest Finance: New Trustless BTC Farm Addition Yielding over 300% APY!

By Cje95 | Chronic Illness and Crypto | 9 Sep 2021


Today Harvest has rolled out a new farm for a token that I had heard of but did not know a lot about. The farm that was added was from Curve, one of the large AAM players on the Ethereum blockchain, and is for the asset TBTC: Mixed. TBTC: Mixed differs though as it is a pool of four different types of wrapped Bitcoin. To mint the Curve TBTC: Mixed a user must deposit tBTC, renBTC, wBTC, sBTC.

 

I realized once I saw it that I was thrown off by actually not seeing other pools like this one that combines the vast variety of wrapped Bitcoin tokens as a pool like this is definitely something I can see a need for and expect to be a pretty important thing. An interesting thing to note though is that you do deposit tBTC and receive tBTC the tokens are different from the first one, the one you deposit, is from Keep Network while the other is the result of adding your 4 different Bitcoin tokens to the basket. 

 

Since this farm is the newest it does have the highest APY currently offered at over 320% APY! This farm just requires you to deposit your tBTC token that you receive from Curve, you do not have to pair it with anything. The yield is only a little over 4% APY the majority of the APY 322% is in FARM which does require you to stake these rewards and not iFARM which most of the new pools yield and is already set to auto-compound. 

 

I am holding out hope that after this farm the team at Harvest really starts to build out the MATIC or Polygon Chain and expand it beyond the three farms it currently has. Ethereum gas fees are just way too high to really justify trading and really using the network overall. I do not see a point in utilizing a blockchain where I can bank on spending at least 10% of my transaction on just gas alone! Until the next updates come out to continue to move to Eth 2.0 using the blockchain in my opinion is not really worth the cost associated with it. Hopefully towards the end of this year huge strides are made to lower these fees if not just move to Eth 2.0!

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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. and shares my growing pains with y’all here! Huge sports fan, space nerd, and international news reader!


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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