My experience with DeFi before I used Harvest left a lot to be desired but since I was using Compound Finance though the Coinbase Wallet App.
If anyone was wondering the Coinbase Wallet app is awful. While simple and easy to use somehow the “gas” fees they charge are always at least $30, I have had them go all the way up to $70, when at the same time on MetaMask even the highest cost option is $18. I don’t know who or what they are using but it is the absolute worst. To move anything on that app or off is instantly killed due to fees.
After the debacle that is Coinbase Wallet I decided I would try again however I would only use MetaMask, was simple and easy to use, and had garnered attention so I could read a lot of info about it. With these things set out I actually got onto this website to sift through articles about DeFi pools. Harvest was a reoccurring one due to the contests they were doing but looking beyond that I quickly found what I had been looking for, transparency.
Harvest had only been exploited a week prior when I started looking so I was able to watch the team decide to fix it and not just cut and run. I realized it had the ease I wanted it had the integration I wanted it had everything. It even included things for when I decided I wanted to try out more advanced things like lend on Uniswap or Sushiswap and place my tokens then in Harvest.
Easy was huge for me and the website is easy to following and sent you to where all the different resources could be found. Since I wanted to start off bland I only have used DAI so far. What has shocked me though is how quickly the rewards are still stacking up. Compound does show your rewards stacking up but Compound’s layout left me feeling like my DAI was not really doing anything.
When I finally build up my rewards to a level I like then I will “harvest” my Farm. With how Harvest is designed it really serves the people who provide liquidity to stake their FARM as well. Harvest uses 30% of the profits to buy back FARM thus giving the coin support in its pricing. The easiest way for the average person who stakes to access this is to harvest your Farm and then stake your FARM to let it compound on itself.
It really is neat to watch this project build itself out and reward all of those who contribute. Even when issues arose the team and everyone involved rose to the occasion to and fixed the issue. The people that lost their funds will get them back though the new program they have created for them with the issuing of GRAIN. Since I was not one of those affected I have not read in depth about GRAIN but it is extremely nice to see a strategy devised to address the issue rather than just paying them back in DAI. They thought out how best to keep the application growing and healthy with GRAIN and that is huge!
