Sirwin
Sirwin
Photo on yeetfi.

What is FARM Token? How is it used in Harvest Finance?


As we all know, FARM has been added as a utility token in the reward pool of our beloved Publish0x. Some of you might not know what FARM is or how it works. That is why I am creating this article to introduce the FARM Token.

Let us first see the details of FARM Token:

FARM token is used for
  • Governance of treasury
  • Governance of protocol
  • Incentivize farming and align interests between users and token holders

Source: YeetFi

Token issuance

Total supply: 5 000 000

1st month181 320 tokens distributed over all pools.

Then: 23 555 tokens every week for 4 years.

  • Circulating supply at launch: 0 FARM
  • 70% Liquidity providers
  • 10% Treasury
  • 20% Team

Source: YeetFi

Now that you know some of the things about FARM Token, let us move on and check what is Harvest Finance.

What is Harvest Finance?

Harvest Finance is an automated protocol for farming different DeFi protocols and pools. Similar to yearn.finance.

Source: YeetFi

That is the basic definition of Harvest Finance. Its actually self explanatory. We also need to know how this works and whats its purpose.

How Harvest Finance works?

You deposit stablecoins, tokens or pool tokens and earn FARM (and in some cases other tokens like CRV).

Source: YeetFi

Purpose of Harvest Finance
  • To help non-savvy users farm and keep up with DeFi.
  • Pool funds together to lower gas prices.

Source: YeetFi

So that are some of the information about FARM Token and Harvest Finance. In conclusion, this token is so much more capable than other tokens out there. Supporting this token will benefit you in the future.

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SassySissy
SassySissy

A frustrated writer. Even more frustrated in life.


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