Harvest Finance, a decentralized finance protocol (DeFi) that lives on Ethereum's blockchain, was founded by Andre Cronje, in 2020.
What is the Harvest Finance token?
FARM is the Harvest Finance governance token. Every Harvest user receives the FARM token as a membership benefit, and thus Harvest users govern and have a stake in the success of this protocol. In addition, they can vote on proposals for the FARM operating treasury and receive a 5% fee from Harvest's operations.
Objective
To provide users with automated exposure to potential yields in selected DeFi protocols. Seeks to make yield farming more accessible by automating the process and optimizing potential yields using the latest farming techniques.
The following is a transcription of the target taken from their website.
Objective
Its goal is to create a community-governed farming cooperative that focuses on maximizing potential returns for its users. By automatically farming assets with potential for high returns and distributing the profits among its users, Harvest Finance provides a platform for users to potentially profit from their cryptocurrency holdings. In addition, the FARM token allows holders to participate in the governance of the protocol, further enhancing its use case.
Mission
Harvest Finance's mission is to expand the use of yield farming to a greater number of users, regardless of their level of experience or knowledge.
How is Harvest Finance operated?
Harvest Finance operates by automatically harvesting assets that have high potential for profitability, the benefits of which are distributed among the different users.
Harvest Finance's strategies for harvesting protocol are flexible and predefined for the future, allowing past and future assets to be harvested through Harvest.
There are standard and non-standard crops, new crops with standard implementation are grown as they emerge, and non-standard crops are grown as the respective strategy or strategies are developed.
Yearn Finance is an ecosystem made up of a number of elements, which, when combined, determine a DeFi whose objective is to maximize the benefits of users through the return on their investment.
** Some of these elements are the following:**
Vaults: these are smart contracts that apply strategies automatically in order to obtain the best returns for the tokens deposited in these Vaults by users.
Governance: Yearn Finance is a decentralized ecosystem, governed by token holders, who are allowed to submit proposals and vote to develop changes in the protocol.
It has a Yield Aggregator, which is a tool that allows users to identify the best yields for their investment. This tool compares interest rates between various DeFi protocols and automatically invests in the most profitable options.
Through Stable Credit, which is a platform designed to increase the liquidity of stablecoins, a marketplace has been created where users can borrow and also lend their stablecoins at market-determined interest rates.
Referencias
https://weareblox.com/es-es/yearn-finance
https://www.harvest.finance/
https://www.coinbase.com/es/price/harvest-finance
https://www.coindesk.com/es/learn/yield-farming-what-is-it-and-how-does-it-work/
The image was taken from the website of Harvest Finance
https://www.harvest.finance/
