Harvest Finance Evolution: iFARM every month

Harvest Finance Evolution: iFARM every month

By PVMihalache | Mind Puzzle | 28 Feb 2021


Harvest radio news special - "The voice of the fields"

Every humble farmer knows that the fields must be prepared for the spring. This can be done after the snow blanket starts to melt. This preparation started with a logo rebranding, and the light blue logo was the winner!

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Harvest Finance is looking to enter the Binance Smart Chain and is currently looking to hire two smart chain developers. They will be rewarded with a high salary, flexible work schedule and other bonuses. If you know anyone matching the profile, you can grab $5,000 if your recommendation gets the job.

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New vaults and pools are spotted on the corn fields. Aave Curve Pool was added with additional farm rewards for early deposits and two new Klodike vaults are live. The WBTC - KBTC and the WBTC - KLON started with APY close to 2000% and reward in auto-compounding iFARM. All the new additions are bringing their contribution towards the $FARM price surge. The token reached $300 and looks solid even if the bears marched all week making the marked bleed and drop value. Time to wait patiently for the next bull run.

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iFARM ... you FARM ... they FARM!

What is iFARM? The short explanation is that the new ERC-20 token is a yield bearing addition to the Harvest Finance ecosystem. Users can acquire iFARM by depositing FARM while having the "Use iFarm" box checked.

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I sometimes feel that the cryptoworld evolves to quick for my IQ and wonder how long will be until will become an amalgam of hieroglyphs and codes shared by telepathic waves from A.I. to chips in human brains. Until than, I've done my part and voted for the iFarm proposal!

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Anyone wants the detailed explanation? As a humble farmer, I had to open some rocket-science books to understand how iFarm works. Harvest Finance legacy is to automatically farm the highest yields, but the current ETH gas fees started to keep newcomers from joining the Harvest Brotherhood. iFarm was created to solve this issue!

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The iFARM upgrade comes with lower fees and accessible yield farming and allow farmers to hold and stake $FARM tokens while collateralizing iFARM. The deposit process is unchanged, moving from deposits into the FARM auto-compounding pool to the iFARM pool through a simple checkbox. The iFARM deposit fees are 50% lower than the deposits into the FARM pool and will bring extra value by creating a collateral token that can be used. 

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How 2077 is iFARM?

Yes ...  iFARM comes from the future to save John Connor! The new iFARM option is so CyberPunk that the cyberpunks have iFARM tattoos. With gas fees reduced by half and amazing transferability as a ERC0-20 token, iFARM is the event that started the cyborg-farmers development. Because staked $FARM is locked while the iFARM can be sued as collateral across DeFi application, the futuristic upgrade is part of the  DeFi (r)evolution. The interest is identical and the iFARM Vault has the same audits and security measures as the other existing vaults. 

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I had 9.629 unstaked FARM. The gas fee for staking iFARM was $19.06 which I paid, while the gas fee to stake normal FARM was $97.  Just think about the identical reward and the cheaper transaction fee and you will understand why iFARM is the future!

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And Chad said ... there will be memes!

If you know me ... you know I am up for the challenge! Just me hustling and bossing around in Yearn Finance Discord channel and telling them bluntly that Harvest Finance is better!

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I honestly think that every humble farmer should deposit as iFARM and pay less. Also the iFARM can be used as collateral in other DeFi projects.

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As a conclusion ... iFARM is the divine gift for humble farmers and the path towards working the fields at higher standards!

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PVMihalache
PVMihalache

Self-Published Author, Football Referee, Football Coach, Early Crypto Investor, Personal Trainer, Well-Being Guru, Open-Minded, Traveller, Social Media Enthusiast, and many more...


Mind Puzzle
Mind Puzzle

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