Thanks to Harvest Finance I stumbled across Phuture Finance and it's very interesting and unique strategy! One thing that really stuck out to me about Phuture and its partnership with Harvest was that for one farms Phutures native token PHTR is paired with FARM! Since FARM is a tipping token for Publish0x it could be a way to save on Ethereum gas!
So what is Phuture Finance? Phuture is a decentralized finance protocol for passive income index strategies. Now, this really caught my eye as passive income is a known supercharger for wealth generation and can help individuals create a possible revenue stream! This idea also of creating an index is a very common thing in the traditional markets (stock markets) with indexes like the S&P 500 and Nasdaq! Only July 12th they launched their Testnet live and have uploaded a video from the event to Youtube!
Listening to the team talk about the product is really remarkable as this is a common financial product that really is missing from the crypto world and would be extremely beneficial for people new to crypto to get exposure to multiple parts of the crypto world at once! With the planned finished product one would be able to create their own indices (I imagine this as slices of a pie) over having pre-designed indexes you chose from. Right now they are still in the PHTR token liquidity phase of their roadmap that you can see below!
I have looked all over the place but I cannot find a firm launch date now that we are in Q3 of 2021 but it is coming! The development team is very active and sends out monthly newsletters you can read about from their medium page and have been hosting community calls including one last night! Recently they have announced partnerships with The Graph, Chainlink, and Mirror Protocol! They have also managed to already lock in over $1 million since the farming started and that was with only have a Testnet launch!
Overall if this team can pull off what they are trying to this could be a huge future project in DeFi and the crypto space in general! It would take a tried and true method used in traditional finance and applying it to the crypto world! It would be a fantastic way to idle some crypto across the board to protect yourself from a DEX crunch or maybe DeFi token pull back. I really look forward to following this platform along!
As a side note its farms on Harvest are looking pretty good I have to say with the PHTR-ETH farm yielding 241% APY and the PHTR-FARM farm yielding 215% APY! The PHTR-ETH farm is earning 114.5% APY with iFARM, 121.5% with PHTR rewards, and a 4.7% liquidity provider APY. The PHTR-FARM has 107.8% APY in iFARM, 104.8% in PHTR rewards, and a 2.3$ liquidity provider APY.
Like always remember to do your own research! I am not a financial expert I am just writing about a really cool and interesting protocol that is on its way to going live!
