Rank #380
9,142 people like this
harvest finance  (FARM)

Harvest Finance (FARM)

$179.75 -2.4%
0.00404250 BTC -3.4%
0.05797202 ETH -1.8%
9,142 people like this
$174.81
24H Range
$187.64
Market Cap $108,962,721
24 Hour Trading Vol $16,736,304
Fully Diluted Valuation $123,129,729
Total Value Locked (TVL) $396,041,242
Fully Diluted Valuation / TVL Ratio 0.31
Market Cap / TVL Ratio 0.28
Circulating Supply 610,981
Total Supply 655,545
Max Supply 690,420
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FARM
USD
USD
Harvest Finance (FARM) Price Chart

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1h
24h
7d
14d
30d
1y
2.6%
-2.4%
-13.5%
-12.5%
-20.2%
136.2%

FARM Price and Market Stats

FARM Price $179.75
Market Cap $108,962,721
Market Cap Dominance 0.01%
Trading Volume $16,736,304
Volume / Market Cap 0.1509
24h Low / 24h High $174.81 / $187.64
7d Low / 7d High $162.91 / $212.03
Market Cap Rank #380
All-Time High $5,078.47 -96.5%
Sep 02, 2020 (about 1 year)
All-Time Low $40.07 339.8%
Jun 22, 2021 (3 months)

Harvest Finance Coin Price & Market Data

Harvest Finance price today is $179.75 with a 24-hour trading volume of $16,736,304. FARM price is down -2.4% in the last 24 hours. It has a circulating supply of 610 Thousand FARM coins and a total supply of 656 Thousand. If you are looking to buy or sell Harvest Finance, Gate.io is currently the most active exchange.

What is FARM? 

FARM is Harvest Finance’s governance token which allows token holders to influence Harvest’s treasury and the future direction of the protocol. FARM token holders are entitled to the 30% protocol fees. 

What is Harvest Finance?

Harvest Finance is an automatic yield farming protocol that helps traders take advantage of the latest DeFi platforms with the highest yield.

Who created Harvest Finance?

Harvest Finance was built by a group of anonymous developers. The only visibility to the team is via a handful of community managers that volunteer their time. 

What problem does Harvest Finance solve?

The DeFi space is becoming more complex as more protocols are being introduced. Harvest Finance aims to help non-savvy users yield farm and get the highest DeFi yield while saving time and money. 

For users who are yield farming with small amounts of capital, it may not be the most effective use of time to constantly harvest yield from the various DeFi yield farms. Constantly harvesting yield will also incur high gas cost. Harvest Finance collates capital from various yield farmers to do yield farming more effectively saving time and money for users. 

How does Harvest Finance work?

Let’s use Harvest’s CRV strategy to understand how Harvest generates yield for its users. 

 

Step 1) User deposits stablecoins (USDT, DAI or USDC) into Harvest’s yCRV stablecoin farm

Step 2) Harvest collects yCRV LP tokens

Step 3) Harvest deposits yCRV LP tokens into CRV pool to farm CRV

Step 4) Farmed CRV tokens are sold on Uniswap. Profits will be distributed between the yCRV strategy and Harvest depositors. 95% of profits will be reinvested into the yCRV strategy and 5% of profits will be rewarded to users in Dai.


This is 1 of the 24 strategies currently available on Harvest Finance. Harvest has created strategies for stablecoins, Bitcoin, SushiSwap, Uniswap, Ethereum, and FARM. To learn more about Harvest’s yield farming strategies, please visit this link.

 

How to get FARM?

When users deposit assets into Harvest to farm, they receive fTokens which represent a yield-bearing version of the asset. For example, depositing USDC into Harvest will result in you receiving fUSDC. fTokens can be redeemed for the underlying asset at any time. 

Depositors receive 70% of the profits generated from farming via Harvest as well as FARM token rewards. The remaining 30% is sent to a protocol token buyback and profit sharing program.

Has Harvest Finance been hacked?

On 26 October 2020, hackers used flash loans to drain $33.8 million from Harvest’s USDT and USDC vaults. The attacker took out a $50 million USDT flash loan, then used the Curve Finance Y pool to swap funds and stretch stablecoin prices out of proportion. 

The attacker was able to withdraw more USDT because of the changed USDT price and this was made possible by the price calculation mechanism for deposits and withdrawals.

What was Harvest’s response to the hack?

Affected users from the hack were given GRAIN tokens in a pro-rata manner based on their deposits. They were also given a pro-rata share of the $2.5 million which was returned by the attacker.

For example, if a user had a 100 USDT loss from the hack, he would get approximately 7.39 USDT, and approximately 92.61 GRAIN.

The distribution was based on a total affected value of $33.8 million.

Is Harvest Finance safe after the hack?

Harvest promised to work on mitigation strategies to stop this kind of flash loan attack from occurring again in the future. They are also looking into insurance options and reparation strategies. Specifically, a new yCRV vault is open for deposits with the flash loan attack vector mitigated so it can no longer be used.

However, that being said, it is still very risky to use DeFi protocols and users should be aware of the various risks before interacting with these smart contract protocols.

Harvest Finance News & Guides

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