This post pertains to the stablecoin farms on the Ethereum Chain! If you did not know the Binance Smart Chain Emissions launched today and my article about that can be found here!
Ever since I started using Harvest Finance I have been amazed at the yield for stablecoins as no matter what was going on in the market. On Harvest, I have been almost exclusively involved in the DAI pool and the APY yield seemed to never fall below 25%. For the most part, the APY really stayed in the 30% range with only brief dips into the 20s.
This weekend I took a few days off because I just needed to disconnect and the long weekend seemed to be a fantastic time to do so. I was a little surprised today when I logged on to check my Harvest Finance dashboard to see what APY on DAI and all the stablecoins for the most part. I was stunned to see how much the yields had fallen as my always trusty DAI farm had fallen to just 15% APY!
With the altcoin pop, it seems that stablecoins across the board are having lower yields. Most of the stablecoin yields are currently in the low 20's with a couple in the 40s and 1 in the 50s but those that are have much lower staked amounts and are uncommon stablecoins to use! While with the gas fees as high as they are this farm has become nothing short of a high yield savings account for me. It is still gaining value and gaining really good value but nothing to what it once was.
Now on the BSC it's a whole other ballgame! The DAI pool there which is within the Venus Farms if you wanted to look has an APY of over 100%! Really almost all of the BSC yields right now have crazy yields in the hundreds or even thousands! If you are someone who uses the Binance Chain and interested in yield farming then Harvest has created a platform you have to give a ton of credit to!