With the price of Ethereum transactions, I was getting pretty bum about DeFi because of how hard it was to interact with. In my previous Harvest posts, I even commented on hoping they would finally launch some new Polygon (MATIC) farms as the transaction costs on Polygon are crazy low! Well, guys and gals…. THEY FINALLY ADDED MORE!
When they initially launched the Polygon Chain side there were three farms and for a few weeks, it stayed that way. I was pretty bummed about that since I really wanted to try out Polygon DeFi so this evening when I checked and saw this I was thrilled!
Now are the yields crazy crazy high like new launched farms typically are? No but there is a reason for that! If you look the new farms are not rewarding with miFARM (Polygon FARM)! These are strictly the yield rewards! Now another reason the lower rewards in my opinion are not as bad is that the transaction fees are so much lower! You are not having to spend as much money getting your assists to the farm to stake so the rewards go a lot further a lot quicker!
The three new farms all come from Balancer and have some pretty cool names, to be honest. Balancer Stable consists of USDC, DAI, miMATIC, and USDT which make sense and yields a nice 14.7% APY.
The second farm is named Balancer: Tricrypto and consists of wBTC, USDC, and wETH each composing 33% of the value. This farm yields a nice 20.44% APY which is not something to shake your head at.
Last but certainly not least is the highest yielding farm named Balancer: Polybase and consists of the following. We start off again with wMATIC, before throwing in USDC, wETH, and BAL. Each of these coins make up 25% of the portfolio which is nice I must say. This farm is yielding an impressive 30.17% and again this is before any miFARM emission!
I am so happy to see Harvest finally branch this chain out more! I look forward to sorting through which one I want to get started with for my first Polygon DeFi farm and will be sure to tell y’all about the adventure!
Remember to always do your own research and never invest what you can’t afford to lose. I am not a financial advisor rather I am someone just wanting to spread the good news! Happy farming!