What is Harvest Finance (FARM)?

Harvest Finance is an automatic yield farming protocol that enables users to deposit their assets in a harvest vault to maximize their yields. It is a decentralized protocol that automates the yield farming process for users by collecting user-deposited tokens and staking them all together on the user’s behalf. Thus saving network gas fees and time for the users and improving APY.

FARM is the native governance token for Harvest Finance, used to incentivize yield farmers using the platform. It grants FARM holders a performance fee derived from Harvest’s yield farming strategies. The derived performance fee is then used to buy FARM from the public market, which is subsequently distributed to users staking FARM in the Profit Sharing pool.

Who are the Founders of Harvest Finance?

Harvest Finance was launched in September 2020 and developed by an anonymous group of developers. The day-to-day running of the platform is handled by Harvest devs.

How does Harvest Finance work?

When a user deposits assets in the Harvest platform, a share of vault fASSET is issued to the users, which is burned on withdrawal, and the user receives funds proportional to investment growth since the time of deposit. The assets deposited by users are invested based on a “timelock” protected strategy, which is pre-defined by Harvest developers. Harvest automatically reinvests the incentive rewards by selling them for more of the underlying vault asset, thus compounding the interest.

Harvest Finance platform’s early-stage investment decisions are overseen by “Council of 69”. These talented users suggest a proposal which is then created into a Snapshot governance proposal. The FARM holders vote for the proposals and the successful proposal is evaluated by a team of harvest devs and established investors. If accepted, the proposal is then invested and implemented.

What makes FARM Unique-Use Cases?

• The protocol offers users a competitive yield by using strategic investment techniques.

• It is an open-source protocol, and anyone can contribute to the platform’s development.

• There are more than 30 trusted platforms available in the Harvest ecosystem for users, like Uniswap, Polygon, Lido Finance, etc.

• Harvest farming strategy are audited by third-party auditors to ensure its security. 

• FARM token holders can participate and vote in Harvest governance proposals.

• Newly minted FARM tokens are released weekly and distributed- 70% among liquidity providers, 10% to the operational treasury, and 20% to the development team.

Harvest Finance (FARM) Price Analysis

Source: TradingView

• FARM token has been on a strong downtrend ever since the beginning of the bear market of 2022 and still seems to be going strong.

• In fact, on the daily timeframe price chart, over the past 12 months, FARM price has created a descending triangle pattern (as indicated by the black trendlines) and the price of FARM is right on the edge of the lower support line. If it breaks down below the $25 mark – we can expect to see a major continuation of the bearishness in the token.

• FARM price has also suffered a death cross of the 50 and 200-day exponential moving average, which would further put some additional bearish pressures on the token.

• For any significant upside, FARM price will have to recover strongly and break past the $35 mark, which coincides with the upper trendline resistance of the descending triangle pattern and also would result in the formation of a golden cross to support bullishness. From there, we could see some resumption of a rally – but as of writing, that proposition seems unlikely.

How to Buy FARM Coins in India?

To buy Harvest Finance Token in India, just follow the below-mentioned steps:

• Download the CoinDCX App on your Smartphone

• Enter the details required for registration.

• Complete KYC

• After your profile is verified, fund your wallet and buy FARM tokens.