One thing I like the most about Publish0x is that you can earn different ERC20 tokens that are changing over time. Recently, $FARM was introduced as a new tipping token on Publish0x. The question is what are you going to do with your $FARM tokens that you are earning on Publish0x?
I recommend accumulating and HODLing your $FARM tokens.
Here is why. 🤓
Selling Your $FARM
You can sell your $FARM on Uniswap but as most of you already know, the fees on Uniswap are quite high like $10 or more. For this reason, it makes absolutely no sense at all to trade smaller amounts of crypto on Uniswap.
An alternative to the Uniswap DEX is the CEX Hotbit. I am not a huge fan of Hotbit, some even say that Hotbit is just a wash trading exchange. However, I`ve also used Hotbit in the past because they have listed a bunch of exotic coins from Uniswap. Hotbit lists them without any coordination with the projects behind these tokens by the way. But that`s not the main thing. The main thing is, that Hotbit is also charging you relatively high fees, especially when you want to withdraw your funds from the exchange.
That`s why I don`t recommend selling your tokens at the moment, not on Uniswap and not on Hotbit.
There are also other exotic exchanges but with zero liquidity, so no chance to sell them anywhere else.
Putting Your $FARM To Work On Harvest Finance
Instead of selling, you can also put your $FARM tokens to work on Harvest Finance. Harvest Finance automatically farms the highest yield available from the hottest Decentralized Finance protocols. Harvest Finance then also optimizes the yields that are already farmed by using the latest farming techniques.
This is a screenshot taken from the Harvest Finance homepage. The process of yield farming is pretty simple and straight forward.
Connect your wallet, deposit your assets, and the farming starts.
One important thing is that Harvest Finance is completely eliminating arbitrage risk by allowing you to deposit a single wrapped asset. This is a big advantage compared to other platforms. However, the risk of being hacked, on the other hand, is still there like on any other DeFi protocol, no matter if it's audited or not.
Now the thing is that you also have to call a smart contract like on Uniswap which requires you to pay gas fees. So here it applies the same: It makes no sense for smaller amounts.
Accumulate And HODL Your $FARM Tokens
The final option would be simply to accumulate and HODL your $FARM tokens that you are currently earning on Publish0x. This is the option that I have chosen for me and this is what I recommend doing. As long as $FARM is a tipping option on Publish0x, simply accumulate and HODL until $FARM has been replaced by another tipping token.
The idea is to acquire a larger amount of $FARM. When $FARM gets replaced by another tipping token, and that day will come, you know that is it. Then you, hopefully, have a larger amount of $FARM and then you can think what to do with them. Sell them all at once to save fees or putting them to work all at once on Harvest Finance, again to save gas fees.
Another important thing is the factor time. Remember Loopring Coin ($LRC) when it was integrated on Publish0x as a new tipping token back in April 2020. $LRC was worth only three cents and tradable on only a few exchanges. Today, $LRC is worth $0.45 and tradable on all major exchanges like Coinbase. Of course, it would be pretty awesome if we could witness a similar development with $FARM.
My Final Words
So, that`s why I have decided for myself to accumulate and HODL my $FARM token that I am currently earning on Publish0x. When I have received my last $FARM payout from Publish0x, I`ll decide what I am going to do: If I trade it, if I put it to work or if I just keep on HODLing.
This is also what I am recommending to do.
At the end of my post, I also like to remind you that my intention in this post is to raise your awareness of Harvest Finance and $FARM and my intention is not to replace your own research. However, it really reflects my own opinion.
So I hope that I could provide you with some interesting and useful information about Harvest Finance and its native $FARM token.
Of course, I am also interested in your opinion, what are you going to do with your $FARM tokens that you are currently earning on Publish0x?
Thank you guys as always for reading, liking, following, and tipping 👍
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