We are now giving out iFARM, a second token from Harvest Finance. We are giving out iFARM rather than FARM as tips. iFARM is the interest-bearing token. Just by holding it, you are entitled to earn yield farming revenue from the Profit Sharing pool.
All of your FARM tokens are now swapped to iFARM tokens!
Read below for more info on how iFARM works.
So Why the Switch to iFARM? How Does this Benefit Me?
We are swapping tips from $FARM to $iFARM tokens because of their improved utility that you, our users can benefit from:
- iFARM an interest-bearing token that corresponds to the amount of the $FARM tokens in the Profit Sharing Pool. Not only your $iFARM earns you earn interest on yield farming revenue while you sleep, but you can also put it to work across other DeFi protocols. In other words, it's like $FARM but without having to lock it in the Profit Sharing pool.
- iFARM is worth more than FARM as you can see in the coin tickers above. This means that you've automatically got more value in $ terms than you previously did!
- On top of that, it costs nearly 50% less in gas fees to interact with services of Harvest Finance when using $iFARM, compared to when using $FARM
IMPORTANT! We suggest that you withdraw your iFARM to your ETH ERC-20 wallet in order to earn earn yield farming revenue on the tokens.
UPDATE: How Does $iFARM Benefit Me More than $FARM?
- $FARM must be deposited in Profit Sharing Pool to earn yield farming revenue.
- $iFARM does NOT need to be deposited in Profit Sharing Pool to entitle you to yield farming revenue, PLUS it can be deposited into other DeFi platforms.
$FARM vs $iFARM in a Nutshell.
1. Harvest.Finance is a project that automatically farms the highest yields in DeFi.
2. Harvest.Finance takes 30% of profits from all the vaults and uses this money to buy $FARM token en masse from the open market.
3. That $FARM is then being distributed to all profit sharing pool participants. And it's compounded!
4. By holding $iFARM, you are entitled to:
a/ Redeem $iFARM for $FARM tokens that work for you in the profit sharing pool.
b/ On top of this, you can put to work your $iFARM on other DeFi platforms.
5. Previously with $FARM, you had to lock your $FARM tokens in the profit sharing pool and pay a high gas fee to participate. Now, you are entitled to interest on earn yield farming revenue without the need of locking up your $iFARM.
Where Can I Learn More About iFARM?
Posts to Read about iFARM:
Where Can I Hold and Trade iFARM?
Hold your iFARM at your own ETH ERC20 wallets only; specifically, the wallets you control the keys to. Good wallets to use include:
This is the correct contract address to add iFARM as a custom token, so that it is visible in your wallet interface: 0x1571ed0bed4d987fe2b498ddbae7dfa19519f651
*Note that this is iFARM's contract address, used to add iFARM as a custom token on your wallet. It is not your address.
IMPORTANT! Do NOT store your iFARM to an exchange at this point. You will lose your tokens!
Where Can You Trade iFARM?
But, with $iFARM you can earn interest on earn yield farming revenue just for HODLing!
I'm not seeing iFARM on my Metamask, Trust Wallet, or any other wallet. What can I do?
Please add iFARM as a custom token to your wallet.
- The correct contract address to add iFARM as a custom token so that it's visible in your wallet interface, is: 0x1571ed0bed4d987fe2b498ddbae7dfa19519f651
The above is iFARM's contract address, used to add iFARM as a custom token on your wallet. It is not your address.
- *NOTE: On your wallet, you need to add iFARM as a custom token, so that you can see your iFARM balance once we send you the payment. The above contract address has nothing to do with your withdrawal address. :)
Adding iFARM as a custom token on Metamask - the easy way.
To easily add iFARM as a custom token / how to make iFARM visible on your Metamask, go to CoinGecko's iFARM page, and then just click on this Metamask icon next to "Contract", so that your iFARM is added automatically.
Here's a detailed guide for adding iFARM to Metamask, if you need more help.
Adding iFARM as a custom token on Trust Wallet.
Here are the steps to take to add iFARM as a custom token and to make iFARM visible on your Trust Wallet. Once you've opened your Trust Wallet.
- The correct contract address to add iFARM as a custom token in step 3 is: 0x1571ed0bed4d987fe2b498ddbae7dfa19519f651
- The above is iFARM's contract address, used to add iFARM as a custom token on your wallet. It is not your address.
- All the other fields will fill up automatically, you only need to paste the contract address.
If you have any questions, please ask them in the comments, in Publish0x Telegram group, or write to firstname.lastname@example.org
I hope you like this change. I know some of you didn't know what to do with your FARM tokens... and now, all you have to do is to HOLD iFARM!