Week 20 — Autoharvests and Self Driving Banks

By Farmer Chad | | 13 Jan 2021

🗓️ This is a landmark week for all of the DeFi farmlands, as we see new entrants in the market such as Mark Cuban and Brian Brooks.

Of note, Mark Cuban describes using Aave and Brian Brooks opines a piece for the Financial Times where he mentioned that DeFi is analogous to ‘self-driving banks’. The intersection of finance and automation is upon us, and by using Harvest, humble farmers everywhere are at the bleeding edge of the future of finance.

🧑‍🌾 Because we make it easy and accessible for farmers of all skill levels to partake in this future, we believe Harvest is perfectly situated to become the largest global farming cooperative. We’re so grateful for you for being on this journey with us.

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Check out our new high yielding strategies over at our homepage!

⚙️ New Strategy Alerts

🌾 We are announcing the newest crops for the 2021 season! We continue to add more mindshare and cropshare across the farm lands and invite MITH and BASIS farmers to the cooperative.

🌈 New Curve Strategy: CRV:OBTC

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OBTC is a wrapped Bitcoin ERC-20 token by BoringDAO, a decentralized bridge that connects all blockchain assets

As we continue to industrialize the Harvest Cooperative, we have added a new strategy that accepts CRV:OBTC tokens. In turn, Harvest farms these LP tokens and earns farmers:

  • CRV rewards
  • FARM rewards
  • BOR rewards

How to farm CRV:OBTC:

  1. Deposit oBTC and other BTC assets into Curve’s OBTC strategy here
  2. Deposit the CRV:OBTC token on to the Harvest Farm page
  3. Deposit the fAsset of CRV:OBTC on the stake page here

In the spirit of 69 and 420, Harvest automatically consolidates these three income streams and harvests them automatically for you.

💵 New Basis Cash Strategies

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Basis Cash is an algorithmic stablecoin that targets a $1 peg. The protocol consists of three tokens (Basis Cash, Basis Share, Basis Bond), with Basis Share and Basis Bond designed to move Basis Cash towards the price of $1.

We continue to welcome all new farmers across the stable farmlands with the inclusion of two new assets, BAC and BAS. This will allow farmers interested in algorithmic stablecoins to earn additional yield. By depositing the UNI BAC-DAI LP token and the UNI BAS-DAI LP token, you will earn the native APY + FARM rewards.

🎤 New MITH Cash Strategies

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Mithril Cash is the new algorithmic stablecoin forged from Mithril, a valuable silver-like metal that is not only stronger but also lighter than steel.

In addition to algorithmic stablecoins, we have also provided $FARM rewards to humble farmers who deposit UNI MIC-USDT LP tokens and UNI MIS-USDT LP tokens. In addition to the fresh native yield you get for depositing these tokens, we will also spray $FARM rewards to sweeten the crops!


🛡️ Unslashed Finance

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Check out this exciting new decentralized insurance protocol here.

The crypto space is often compared to the American wild west and gold rush eras, where there were dreams of fortunes but very little protections for those who were brave enough to start the journey. Unslashed Finance is a new decentralized insurance protocol looking to help mitigate the risks of snake oil salesmen and bandits, protecting us hardworking and humble farmers. To help spread the word of their upcoming launch and capital mining event, our Discord moderators and community members have been handing out private invite codes to the predeposit period, where depositors are eligible for a share of 60k tokens. Click here to read more about Unslashed Finance and their capital mining event.


💁🏻 Helpful Harvesting

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Check out this useful and comprehensive beginners guide to Harvest Finance

New to Harvest Finance or crypto in general? At Publish0x they have some talented content creators who provide breakdowns of the numerous projects spanning the ecosystem, and this week Harvest Finance has been featured in a Q&A series answering various critical questions about the project. Still hungry for more? Please dig in for seconds at the various resources that support our collective from the Wiki to the official Discord chat.


❄️ Let it Snow

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Check out these incredibly friendly looking high yield strategies at SnowSwap!

Looking to stack some more money legos? With our friends at SnowSwap, you can deposit your fRENBTC from Harvest to SnowSwap and earn up to 70% APY in $SNOW. They also offer some of the best rates for swapping various fAssets. Be sure to check them out today!

💹 Week 20 Farming Incentives:

In Week 20, 11,908.08 $FARM will be issued.

📉 $FARM emission in week 20 is further reduced by 4.44% from last week’s emission of 12,462.10. 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:

8335.66 $FARM (70.15% of week 20) will be distributed to capital and liquidity providers as follows:

🎉 331.76 $FARM (2.79% of week 20) to stablecoin deposits into Harvest yield farming:

  • 176.77 $FARM for USDC pool (1.48% of week 18 total)
  • 94.31 $FARM for USDT pool (0.79%)
  • 59.23 $FARM for DAI pool (0.50%)
  • 1.46 $FARM for TUSD pool (0.01%)

🚀 1857.85 $FARM (15.60% of week 20) to Curve deposits into Harvest yield farming:

  • 580.58 $FARM for YCRV pool (4.88%)
  • 248.82 $FARM for 3CRV pool (2.09%)
  • 331.76$FARM for CRV:USDN pool (2.79%)
  • 331.76 $FARM for CRV:BUSD pool (2.79%)
  • 331.76 $FARM for CRV:COMPOUND pool (2.79%)
  • 33.18 $FARM for CRV:HUSD pool (0.28%)

₿ 612.28 $FARM (5.14% of week 20) to BTC deposits into Harvest yield farming:

  • 12.44 $FARM for RENBTC pool (0.10%)
  • 62.20 $FARM for WBTC pool (.52%)
  • 186.61 $FARM for CRV:RENWBTC pool (1.57%)
  • 165.88 $FARM for CRV:TBTC pool (1.39%)
  • 145.14 $FARM for CRV:HBTC pool (1.22%)
  • 40.00 $FARM for CRV:OBTC pool (0.34%)

🤑 145.44 $FARM (1.22% of week 20) to WETH deposits into Harvest yield farming

🍣 1223.36 $FARM (9.75% of week 20 to SUSHI) deposits into Harvest yield farming

  • 248.82 $FARM for ETH-DAI pool (2.09%)
  • 248.82 $FARM for ETH-WBTC pool (2.09%)
  • 248.82 $FARM for ETH-USDT pool (2.09%)
  • 414.70 $FARM for ETH-USDC pool (3.48%)

📈 62.20 $FARM (0.52% of week 20) to ETH-DPI UNI stakers into Harvest yield farming

👴 331.76 $FARM (2.79% of week 20 to Seigniorage) deposits into Harvest yield farming

  • 82.94 $FARM for MIC-USDT pool (0.70%)
  • 82.94 $FARM for MIS-USDT pool (0.70%)
  • 82.94 $FARM for BAC-DAI pool (0.70%)
  • 82.94 $FARM for BAS-DAI pool (0.70%)

👨‍🌾 2094.23 $FARM (17.59% of week 20) to $FARM stakers in the profit share.

🚜 0.00 (0.00% of week 20) $FARM to $FARM liquidity providers in the Uniswap USDC/FARM pool

🚜 165.88 (1.39% of week 20) $FARM to $FARM liquidity providers in the Uniswap WETH/FARM pool

🚜 17.86 (0.15% of week 20) $FARM to $FARM liquidity providers in the Uniswap GRAIN/FARM pool

🏦 1531.71 (12.86% of week 20) $FARM is set aside as a strategic reserve for future usage. It can be used for further incentivization opportunities e.g. market-making GRAIN, for incentivizing LPs, for combining into FARM/X LP positions later, or burning.

The strategic reserve address is: 0x19762b3b0Fe9b4d4Bd16eFA242CD1f3bCD5fa57C

🏦 41.68 (0.35% of week 20) $FARM is set aside for GRAIN buybacks. As part of the community vote, 0.5% of total emissions will be used to support GRAIN and GRAIN initiatives. The GRAIN silo address is: 0x6D0d02Ab03b4409628D147Af1a3de70F49da570e


👁️ The 20/20 Vision

🌍 As we get settled into the new year of 2021, we have no doubt that DeFi will play a large and pivotal role in onboarding millions of new farmers from across the globe into the decentralized finance ecosystem.

📈 In just over 20 weeks, we have built a lasting platform and community that will usher in millions more in TVL. What once took years for companies like Wealthfront or Titan to amass hundreds of millions in user deposits, we have been able to do it in less than 20 weeks. We are building financial products that move at the speed of software. It’s remarkable what we have done — imagine what we can do over the next 20 weeks.

👋 See you in Week 21!

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Farmer Chad
Farmer Chad

Tilling the fields of Defi

All things related to life down on the FARM

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