The Reason Why Harvest Moved the mSTONKS Farms to Inactive

The Reason Why Harvest Moved the mSTONKS Farms to Inactive

By Cje95 | Chronic Illness and Crypto | 13 Oct 2021


This morning I realized saw something that saddened me and went to the Discord to see if what I was seeing was the case. Sadly, it was. Yesterday the Harvest team decided to move all of the mSTONKS farms to inactive. What I found interesting about this was that it did not have to do with the actual farms themselves ending or failing. Rather what it came down to was the increasing government pressure on tokenized stocks. 

 

As much as I loved the idea and believe it will probably win out in the end right now the technology has advanced past what the government and financial sector is ready for. I imagine in the not so distent future that the stock markets will transition to being open 24/7 in some way shape or form. Even with after hours trading the latest I have heard people being able to trade was 8 PM EST. 

 

Having the markets open 24/7 like what mSTONKS allowed allowed people to take advantage of real time news that could occur in the middle of the night or early in the morning before the markets opened. This allowed people to be able to take huge profits in instances where it worked/occured. For the most part though it was only major companies that were tokenized by individuals and smaller companies if they were has little to no liquidity. For the short term this is a set back for sure as these farms were averaging well over 50% APY and for a long time was averaging well over 100% APY.

 

It will be interesting to see how the different protocols that offer this respond. Mirror is the first one that comes to my mind when thinking about stocks getting tokenized and so it will be interesting to see how they adapt to the upcoming legislation. As much as people oppose it I feel that their best bet for survival now will be to to work with the regulators to establish basic perimeters for this leg of DeFi to be set up in. 

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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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