As an avid yield-farming enthusiast I cannot tell you how happy I was to see the news a little while back that Harvest.Finance were making the move to the Binance Smart Chain (BSC). I'd been pretty disheartened earlier this year that my FARM tokens and all the yield strategy goodness was out of my reach while it sits on the ETH chain. I am currently sitting on a little FARM (ERC20) tokens but have no way of really making them work for me without incurring fees that make it ineffectively and costly to do so. You see the thing that the Harvest team are all about is efficiency. Collectively pooling assets and saving customers the stress and gas fees moving between products. All the while making the best algorithmic decisions to make idle assets flourish. Sadly, this hasn't been able to be realised lately on the ETH chain, which is why the BSC move is a match made in heaven.
If you are like this Urak-Hai and you hunger for some tasty farming strategies then look no further. In this article we're going to take a look at a couple of my favorite strategies on offer from Harvest.Finance currently.
Before yo go any further let's remember this is not financial advice, please make sure you do a little homework yourself before biting off more than you can chew.
Yield Recipes (Chad Approved)
Rather than going into all of the items on the Harvest menu I've opted to select what I consider one of the best short term "quick meal on the go" strategy, as well as my own personal favorite long term "keeps you going for days" strategy.
A Side Order of EGG
This is a simple yet effective recipe on the go. Often overlooked, but never undercooked, the Goose EGG can be a rich and luxurious addition to any portfolio. Making an excellent accompaniment to more traditional mains like BUSD and BNB, the simplicity of this dish will have even the most inexperienced DeFi chefs basking in the confidence of their strategies as they see the daily returns of the project stack up quickly. It was actually strategies such as this one and the simplicity of them to execute that saw Harvest.Finance achieve their first Michelin Chad, indeed in do so they showed that fine DeFing wasn’t just the realm of the upper echelons of financial society, these were products designed to be enjoyed every day.
Chef's Tip: All EGG are auto-harvested from the pool. This means you can make use of these leftovers whenever you’re feeling like a tasty bFARM snack. Simply take your EGG profits and store them in them fEGG pool until you’re ready to enjoy them. You’ll earn around 350% in bFARM while they sit there.
Breakfast: All-Day Long
Since pipping Uniswap to the top of the “Best DeFi on the Market” shortlist PancakeSwap have continued to deliver high quality returns for customers with a sweet tooth. But don’t be fooled, although these seemingly ‘kid-friendly’ projects have a fun brand the underlying flavours with them can add excellent complexity and depth to a portfolio. Giving Harvest.Finance their second Michelin Chad, and rightly so, the partnership with PancakeSwap has opened up doors to existing BSC main stays and offered a fantastic method for earning bFARM consistently while maintaining a healthy stack of CAKE on the side.
Chef's Tip: If you’ve got a bit of a sweet tooth like me then you can make the most of the auto-harvesting CAKE pools on offer like BNB-BUSD or XVS-BNB as a way of increasing your CAKE holding then you can deposit this directly into the CAKE pool to stack the CAKE higher and higher
As I mentioned in the title, the combination of both Harvest.Finance and BSC is indeed a recipe for success. Lower contract fees, automated fee-sharing yield farming models, and the reassurance that you can continue to add to your FARM reserves make this is win-win-win. While not yet as extensive as the ETH version of Harvest.Finance the speed with which they have earned their second Michelin Chad suggest they are not slowing down yet!
In my mind the only thing that is needed to push the Harvest team up to that pinnacle of success (3 Chads) is to implement a profit sharing bFARM strategy here on the BSC.
If these products haven't got you salivating then I'm not sure what will. Since Harvest moved to BSC I've jumped headlong into these strategies and have not looked back. The joy of it all is that if you change my mind at some point you're not trapped in with obnoxious fees, these pools really are accessible by all.
Rather than just leaving you with the recipes today I just wanted to show you hope much goodness these strategies contain, and the best way to do this is to dig into those nutritional values. The two strategies above look like this on paper, I think they speak for themselves!
These numbers are exceptional when compared to traditional finance, there is just no competition. All in all when it comes to DeFi Harvest.Finance know what they are doing. It is a great way for growing any portfolio in a consistent and cost effective manner, without having to micro manage or compromise on quality, all of these ingredients are locally sourced on BSC so you can be sure that you're supporting your local crypto-economy.
Thanks for reading, hope you liked the article and take some time to develop your own strategies, good luck y'all!
Read.Cash - https://read.cash/@Mynima/a-recipe-for-success-bsc-harvestfinance-e23411c2
Hive - https://peakd.com/hive-175254/@mynima/a-recipe-for-success-bsc--harvestfinance