Harvest Finance: Venus Finance Stablecoin Heaven on BSC

Harvest Finance: Venus Finance Stablecoin Heaven on BSC

By Cje95 | Chronic Illness and Crypto | 12 Apr 2021


Due to high gas prices on the Ethereum chain the development team at Harvest Finance saw an opportunity on the Binance Smart Chain or BSC and took full advantage of it! One of the first farms that popped up was the Venus Finance farm and it enables the world's first decentralized stablecoin on the BSC. The Venus platform itself allows for many many different cryptos to be deposited on it and Harvest has chosen the nine biggest/highest yielding ones. 

 

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Those chosen are large/well-known coins like DAI, USDC, ETH, and BUSD among others. This farm mirrors what the Ethereum stablecoin farm once was with almost all the farms averaging 50%+ APY since its creation. Even now with over $7 million in deposited assets the farms are still this high! Utilizing this farm allows a user to really be able to not only have access to impressive gains but to be able to move those gains and assets overall as one would want. The Ethereum side has really just turned into a high yield savings account esp with the stablecoin farms because you only make so much when the APY is in the high teens' low twenties. 

 

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The Venus farms really provide a fantastic base for those who are venturing into the BSC realm. When one wants to build out a DeFi income stream stablecoins are a pretty important part of that and Venus provides a fantastic base to build off of especially for the BSC. As someone who is looking to begin my journey into BSC yield farming Venus will be the first one I invest in to build myself a solid base to build off of. The yields are amazing and have been since the launch. I was worried that the yields could crater as more people deposited assets but that has not been the case and now with over $7 million in the farm the yields are still amazing.

 

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Always remember to do your own research! I am not a financial advisor nor guru. 


Cje95
Cje95

Just a college student who graduated during a pandemic. Loudest and proudest member of Texas A&M '17! Back to back neurosurgery survivor and sports fanatic!


Chronic Illness and Crypto
Chronic Illness and Crypto

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