Harvest has recently finally rolled out the last farms that were announced. These farms were with Notional Finance and were on the Ethereum blockchain. Notional Finance aims to provide DeFi fixed interest rate loans to the blockchain/DeFi space. When utilized individuals can borrow crypto for up to a year for a set interest rate.
In total, 4 farms were added with Notional: DAI, ETH, USDC, and WBTC. The cryptos in the farms are officially known as nDAI, nETH, nUSDC, and nWBTC and all currently have very respectable APY rates as they also are earning iFARM. The nDAI farm has an APY of 16.09% with 3.81% coming from Notional and 12.28% from iFARM. In nETH, the total APY is 25.72% with 2.14% coming from Notional and the remaining 23.58% coming from iFARM. The nUSDC farm provides a total of 18.52% APY with 3.48% coming from Notional and 15.04% coming from iFARM. Last but not least is nWBTC with a total APY of 20.36% broken down by 2.48% from NOTE and 17.88% from iFARM.
Reading about Notional Finance leads me to believe that out of all the different lending options I have seen this one is set up to be much more stable in a pretty unstable industry. By allowing individuals to have a fixed interest rate it does allow individuals to be able to set up and structure acquiring a loan in a way that should lead to less of a chance of default. While this all looks good on paper how it will work in real life will be something interesting to see and could help pave a way for future ideas and protocols to build upon it.
Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to further support me below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
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