Week 10 Update: New Vaults and More 🥖 Bread for the People!

Week 10 Update: New Vaults and More 🥖 Bread for the People!

By Chad Farmer | Harvest.finance | 4 Nov 2020


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Life at the Farm illustrated by ClockworkWolf, the first placed winner of our Halloween themed Creativity Contest.

🚢 👨🏿‍🌾 Over 10 weeks ago, Harvest Finance and humble farmers everywhere embarked on a journey to easily and automatically earn the highest yields in DeFi. Our ethos has always been to make your hard work a lot easier.

🏦 Today, we are proud to announce the addition of two new vaults for farmers to earn yields without spending ⛽ gas and going through countless steps.

🌈 We have added YCRV as a yield-bearing asset. This will add to the growing strategies we have with Curve, making it the easiest platform to earn yield from Curve.

🍔 In addition, we have added 3CRV as another yield-bearing asset. This allows farmers everywhere to earn three different assets for the first time ever with just one asset. Depositing 3CRV will earn Curve and Pickle 🥒, which is then sold back for more 3CRV. Farmers will also earn FARM 🚜 from depositing 3CRV.

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💹 With the inclusion of the two new vaults, Harvest now has over 14 yield-bearing assets for humble farmers to choose from. Have any other strategies you think will be awesome for the farmland and that will benefit all humble farmers? Let us know in our discord channel ‘#farming-strategies’ and be rewarded for your 🧠 farming IQ!

 

Harvest Worldwide

👩‍🌾 🌎 Global germination continues! Humble farmers all over the world are joining the Harvest collective; we have recently added three new language channels for German, Spanish, and French to the official Discord chat 💬 to ensure all hard working farmers have an opportunity to collaborate.

👨‍💻 This past weekend, Harvest was featured on the DeFi France webcast, where the hosts presented a walkthrough of the platform in French accompanied by an 📝 English interview with one of our Discord community managers. Community plays a large role at Harvest Finance and we encourage all farmers worldwide to join us in chat, or help around the farm with Wiki additions and even translations.

 

🍣 Fresh Fish and Enoki Mushrooms 🍄

🍣 Several weeks ago, we rolled out a new WBTC:TBTC SushiSwap pool for depositors to enjoy the benefits of Sushi farming. Today we are excited to announce the SushiSwap community intention to get closer with Harvest by voting in FARM/ETH as their pool of the week! FARM holders can now earn SUSHI rewards by providing liquidity on that platform, in addition to rewards they may already be earning in the WBTC:TBTC pool at Harvest. A double double of SUSHI all wrapped in FARM! 🍣 👩‍🌾 🍣

🍄 The Enoki DeFi Club sits at the intersection of digital-first art and decentralized finance. You can now deposit and stake your FARM in Enoki’s FARM pool to receive SPORE rewards. Currently, this pool offers over 100% APY.

 

🚜🛠️ Making the Tractors go Brrrr again!

👮 After securing the farmlands and gathering the community for a reparations vote, we will proceed to the next phase of restoring all operations to normal and tilling the earth for new crop additions.

🦹‍♂️ A new yCRV vault has been deployed and is now open for deposits. By utilizing yCRV deposits directly, the flash loan attack vector has been mitigated and cannot be used again.

🔬 As the Harvest team finalizes its security review of the stablecoin strategies before redeploying, the addition of the yCRV and 3CRV strategy demonstrates our commitment to not only resolve any outstanding issues, but to improving the farmlands and making them more fruitful than ever before.

 

🏧 Emission Overview

💹 Week 10 Farming Incentives:

1️⃣ In week 1, 57569.1 $FARM were issued (mint 1, 2, 3).

2️⃣ In week 2, 51676.2 $FARM were issued.

3️⃣ In week 3, 26400.2 $FARM were issued (mint, burns 1, 2, 3).

4️⃣ In week 4, 24997.5 $FARM were issued.

5️⃣ In week 5, 23555.0 $FARM were issued.

6️⃣ In week 6, 22507.83 $FARM were issued.

7️⃣ In week 7, 21507.22 $FARM were issued.

8️⃣ In week 8, 20,551.42 $FARM were issued.

9️⃣ In Week 9, 19637.46 $FARM were issued.

🔟 In Week 10, 18764.46 $FARM will be issued.

📉 $FARM emission in week 10 is further reduced by 4.44% from last week’s emission of 19637.46. This is part of the emissions cut community vote where 99.12% of the votes approved this decreasing emissions plan. After ensuring sufficient emission to bootstrap critical liquidity and incentivize capital providers, additional emission provides diminishing returns to Harvest.

🗓️ This week:

13135.12 $FARM (70% of week 10) will be distributed to capital and liquidity providers as follows:

🎉 525.40 $FARM (2.8% of week 10) to stablecoin deposits into Harvest yield farming:

  • 257.44 $FARM for USDC pool (1.37% of week 10 total)
  • 158.93 $FARM for USDT pool (0.85%)
  • 17.07 $FARM for DAI pool (0.1%)
  • 91.94 $FARM for TUSD pool (0.5%)

₿ 985.13 $FARM (5.25% of week 10) to BTC deposits into Harvest yield farming:

  • 54.53 $FARM for wBTC pool (0.29%)
  • 75.33 $FARM for renBTC pool (0.40%)
  • 855.26 $FARM for Vault_CRV_renwBTC pool (4.56%)

🍣 65.67 $FARM (0.35% of week 10) to Sushiswap WBTC/TBTC deposits into Harvest yield farming

🤑 131.35 $FARM (0.70% of week 10) to WETH deposits into Harvest yield farming

🦄 4991.34 $FARM (26.6% of week 10) to UNI deposits into Harvest yield farming

  • 713.86 $FARM for ETH-DAI pool (3.8%)
  • 1359.19 $FARM for ETH-USDC pool (7.24%)
  • 945.15 $FARM for ETH-USDT pool (5.04%)
  • 1973.12 $FARM for ETH-WBTC pool (10.51%)

🚜 3940.53 $FARM to $FARM liquidity providers in the Uniswap USDC/FARM pool (21%)

👨‍🌾 1970.26 $FARM (10.5% of week 10) to $FARM stakers in the profit share.

 

🧑‍🌾 10,000+ Farmers in Week 10 and Counting

As we enter into a new phase for Harvest, we’d like to thank all of the farmers, Chads, 69ers, and community for your support. While it has only been 10 weeks since we provided our first crops, we’ve come a long way to become a collective of over 10,000 farmers.

Having started with a humble idea to just make it easy to farm the highest yields in DeFi, we’ve ushered in a new era of industrial farming and have set the standard for how best to make DeFi yield farming fun and easy for farmers of all levels.

Over the next few weeks, we will be focusing on continuous security in the Farmlands as well as new strategy developments, community initiatives and partnerships. With so many new and exciting DeFi projects coming out, the time is ripe for our cooperative to make them easily accessible to humble farmers of all shapes and sizes.

Until next week! Enjoy your ♋ 🌿 while seeing your 🌾 go up!


Chad Farmer
Chad Farmer

Tilling the defi fields of Harvest.finance and reaping what I sow


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