Harvest Finance is Now the Largest Aggregator in DeFi

By Da_Sound | greenbull | 15 Feb 2021

While everyone in the major DeFi stream is still amazed by Andre Cronje and his $YFI child, not many seem to pay attention to Harvest which simply does Yearn’s purpose better.

Harvest has perfected its yield farming protocol and is consistently attracting more capital than Yearn due to its better, higher-yielding strategies, and its Profit Sharing Pool to maximize profits through compounding.

With that, Harvest is now the largest aggregator in DeFi and it’s not stopping there.

As pointed out by Farmer Chad on Twitter – The Harvest Cooperative is now closing in on the top 100 of all hedge funds in the WORLD!

(Source)

Do you realize how big a deal this is?

A lot of these hedge funds have been around for decades while Harvest hasn’t even been around one year. Its growth is absolutely huge and it’s eating traditional finance (TradFi) up.

That said, it won’t be long before the titans of fiat take notice of Harvest’s fertile farmlands and take the plunge into DeFi.

Harvest Nears $1B in TVL

Harvest Finance Stats (Source)

Harvest is nearing $1B in total value locked (TVL) making it the largest yield-farming aggregator in DeFi. The next largest is Yearn with $589B, falling more than $200B behind Harvest.

Harvest is the de facto winner here and shows no signs of slowing down. Just check out its healthy and steady growth so far this year:

Harvest TVL History: January 1 - February 12, 2021 (Source)

The above chart shows Harvest’s TVL (blue line), Harvest accounts (grey line), and $FARM token price (yellow line). As you can see, everything is climbing this year. There are no signs of weakness for all metrics.

Also, take note that when there’s a spike in the number of accounts, Harvest’s TVL rises soon after. This helps to prove the thesis that Harvest is experiencing real healthy growth in its TVL and that it’s NOT propped up by just a few whales.

This couldn’t be more bullish for Harvest and its $FARM token as adoption and growth accrue real value and success.

Harvest Deploys New Strategies Like a Rambo

Harvest Strategies (Source)

Not only is Harvest the largest aggregator in Defi, but it also offers the most yield farming strategies with the highest yields and lowest fees in the industry.

It just wins. Period.

Harvest currently has 44 active strategies deployed on its platform that offer a wide range of yields from as low as 2% APY to as high as 1000% APY.

Harvest Pools with Highest APY%:

DAI_BSG: 997.3% APY
DAI_BSGS: 742.3% APY
DAI_BAS: 546.3% APY
MIC_USDT: 518.4% APY
MIS_USDT: 510.7% APY
BAC_DAI: 396.0% APY
MAMZN_UST: 363.1% APY

Harvest Finance Actually Makes Profits for Its Token Holders

Harvest Profit Sharing Pool (Source)

Harvest goes above and beyond putting your idle crypto assets to work in high-yielding farming opportunities.

That’s right, just when you think Harvest couldn’t possibly get any better, it does:

Harvest enables you to maximize your profits by allowing you to stake your earned $FARM tokens in the “Profit Sharing Pool” to earn even more $FARM rewards proportionately to your stake in the pool.

What’s more?

The $FARM rewards you receive from this pool are auto-compounding so that you can continuously earn more and more $FARM.

But wait, it gets even better.

The $FARM tokens rewarded to $FARM stakers in this pool have to come from somewhere right?

Here’s where things get interesting:

The yields farmers receive across all available strategies is at 70% of the total profits, plus $FARM token rewards atop of this.

As for the remaining 30% of generated profits, it is converted to USDC and used to buy $FARM tokens off the market en masse and then distributed to Hstakers of the Profit Sharing Pool.

So, that’s where the $FARM rewards in the Profit Sharing Pool come from, and when Harvets buys $FARM from the market en masse, it decreases supply on the open market and with increasing demand, pushes the price of $FARM higher.

Harvest helps farmers to squeeze more profits on their assets → which attracts new users → which increases the TVL → which increases Harvest collective profits → which increases $FARM buybacks → repeat

It’s a positive feedback loop!

Harvest Finance acts like a VC

By now you probably understand why Harvest is the largest yield-aggregator in DeFi.

But guess what? There’s even more that can attribute to Harvest’s massive success!

Harvest not only serves as a yield aggregator platform and money-making ($FARM) machine, it acts like a Venture Capitalist (VC).

You see, the Harvest Finance Discord has this little-known channel called the “#Council-of-69” – a place where chad farmers discuss investment opportunities that the Harvest Treasury can make to foster Harvest’s growth and expand/influence opportunities.

It’s pretty cool, really.

Anyone can join the channel and pitch strategic investment deals. If your deal generates a lot of interest, it moves on to a Harvest governance proposal where humble farmers ($FARM token holders) vote on whether or not the Harvest treasury should invest.

If the majority votes yes, the Harvest treasury funds the investment, and on a liquidity event, the chad who brought in and closed the deal receives 10% of the gains as a reward! As for the remaining 90% of gains, they are put back into the Harvest Treasury and are distributed to humble farmers in the profit-sharing pool.

It’s a beautiful thing. But, don't tell anyone about it. Keep this part of Harvest to yourself, alright?

Moreover, the #Council-of-69 VC fund has been around since near inception and two major deals have been closed thus far with a third coming up next:

Perpetual Protocol (PERP) - Source
Benchmark Protocol (MARK) - Source
(in discussion): APWine (APW) - Source

As for these first two investments, they are proving to be very successful and are already generating big profits for Harvest Finance. Just check out how high the $PERP and $MARK tokens are right now you’ll see for yourself.

Chad Memes are Strong

Farmer Chad

You know what? I like to save the best for last, and I think we can all agree that memes rightfully take that spot.

Harvest Finance is known for its memes and there’s no doubt they’ve attributed to the platform’s success.

I’m not even kidding, it’s called “Meme Magic” and it works.

Just look at what 4chan frogs did to $LINK. The Pepe memes were strong with this one and it’s been the best performing “blue chip” crypto for 3 years straight.

Another one is $DOGE, I know you’ve seen those memes before. Elon Musk loves them and they are basically the sole reason $DOGE is performing so well in 2021!

That said, never underestimate the power of memes, especially in crypto.

While Harvest may not be on $LINK’s and $DOGE’s level of memery, I’m pretty sure it's the next best one. There’s already a ton of Harvest Chad memes out there and Harvest runs a ton of meme and Twitter contest’s you can't skip out on.

Here’s a couple of my personal favorites: