Lift DAO and Harvest Finance: Newest Farms

Lift DAO and Harvest Finance: Newest Farms

By Cje95 | Chronic Illness and Crypto | 2 Jun 2021


When Harvest Finance has added new farms recently they were typically just starting off or honestly had websites that had a bunch of coming soon things. While the Harvest team has done an amazing job at making sure that the farms are not rug pulls or fraudulent in any way it has always made me a little hesitant to partake in these new farms. With the most recent additions to Harvest, the team has tapped a new DeFi area I had not previously thought of. 

 

The farms are from a DAO called Lift Kitchen. Lift Kitchen purpose is to serve really as a Venture Capital fund for new projects. The idea is for projects to be able to tap into the crypto funds for a crypto project thereby avoiding any fiat conversions. Lift is relatively new still as it is only a month only but with its genesis, $2.5 million was converted into tokens. Already the fund has two different funds in the discussion phase. One is a crypto wallet the other, which is further along in the process, is aimed at new users and is called myCryptoRobo.com and this project even has an exit date listed. 

 

The two farms from Lift Kitchen and the pairings are LFBTC-LIFT and WBTC-LFBTC. Now providing liquidity is different than most as it is not with Uniswap and rather when you click on providing liquidity it takes you to Zapper.fi which uses Suhsiswap to provide liquidity. Due to how this DAO operates instead of getting the native token LIFE back the yield is converted into iFARM thus is auto-compounded. The LFBTC-LIFT yield itself is over 400% APY and the WBTC-LFBTC is over 175% APY. This is honestly pretty amazing and while I know the feelings on iFARM are mixed at best the results and effect of it are nonetheless amazing. 

 

I will be looking into this DAO further and write about it as the idea of a DAO venture capital firm is a really interesting idea. This could allow more people to be able to access VC investments something that is really rather hard for the average person to get access to. Crypto though has shown time and time again how it is able to give individuals who would not have access money or investing the ability to do so. It is a key pricincple and something that is unique to crypto itself. 

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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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