During this turbulent and honestly chaotic market, I have for the most part stayed on the sidelines. Whenever I cannot get a good read or feel for what is going on I err on the side of caution and just stand pat. I have previously mentioned in several other articles about how the pullback led to Harvest Finance reactivating Uniswap V3 pools that had been moved to inactive due to Ethereums price. The one pool that I was involved with in particular was the DAI-ETH farm that has a range of $1.9-$3k ETH range attached to it.
Now I entered this farm months ago when it was first offered and it was the one with the highest ETH value! The other one topped out at $2.4k which even though that was well within range when it started it rapidly was left behind. When ETH moved out of range for this farm I withdrew my iFARM to allow it to compound however I did not pay attention to the iFARM emissions and so I actually ended up leaving some iFARM in there on accident. ETH has now been within range for 21 days now for this farm and I have to say the results have been spectacular.
When it first moved into range it actually did not give you an APY since it was on the inactive page for about a week however you could watch your iFARM emissions roll in and the Devs did say you were getting your trading fees associated with the farm! For the last 20 days, it has been within range full time and the APY has actually increased as time has gone on! Starting at right over 100% APY total it has now reached a beautiful 155.67% total! This can be broken down into 65.49% in iFARM and 90.18% in trading fees! Now since it is a pairing it is a little hard to keep up with how much my farm has grown. Using my DAI amount and keeping my WETH amount at a simple 0.013 (the WETH has tended to stay around this level the last few days) I can say my DAI amount has increased from 25 DAI to over 29 DAI. That is not too shabby for it being the last week or so!
The biggest thing to me at least though is how the iFARM emissions have been rolling in. Every time I write about Harvest I highlight the iFARM emission because since the auto compound in your wallet you do not have to waste any money on gas! In this time I have managed to earn almost 0.02 iFARM again just an amazing stat that helps increase my total gain!
This has finally given me the proof I really needed not for anyone else but really for myself that my strategy of not moving to the higher ranged DAI-ETH farms was the correct move for me. Now I am not sure how long this good fortune will last but I must admit the price pullback has been super beneficial for me personally! It also helped add additional evidence that the Harvest Devs are here to stay and are here to develop the best product that they can for users! When the Binance Smart Chain became big they added those farms and now as the Polygon Chain has really kicked off they have done a fantastic job building out that side of things as well!
Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
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