Harvest ft. Rari: Borrow Stablecoins Against Your $iFARM
Borrow stablecoins against your $iFARM on Rari Fuse
Dear Farmers,
At Harvest, we are constantly exploring new utilization opportunities for our assets. Today, we are excited to share the fruits of our collaboration with Rari Capital.
Introducing FARMstead, a Rari Fuse pool where anyone can deposit $iFARM and borrow popular stablecoins against it.
👉 Enter FARMstead at app.rari.capital/fuse/pool/24
With Fuse, you are able to deposit $iFARM and create your Borrow Limit by doing so. From here you can borrow any stablecoin that suits your needs and has enough liquidity.
This collaboration adds another use case for our interest-bearing $iFARM token. Being able to borrow against it allows farmers to unlock extra capital on their assets to e.g. buy more $FARM (leverage) or purchase the latest tractor (a real one).
Incentives for USDC
What’s more, we’ve launched $iFARM incentives for USDC lenders to bootstrap FARMstead’s liquidity.
How to take advantage of $iFARM incentives as a USDC lender?
- Head over to FARMstead and supply USDC
- You will automatically receive a receipt of deposit in form of a FARMSteadUSDC token into your wallet
- Head over to harvest.finance and search for FARMstead
- Harvest will automatically detect your FARMSteadUSDC
- Stake FARMSteadUSD Cinto the vault and enjoy an extra $iFARM on top of your lending returns from Rari Fuse
Note: After staking FARMSteadUSDC at Harvest, Rari Fuse will no longer show your supplied USDC on their dashboard.
Data on FARMStead
With our Rari Fuse pool being just a week old, it managed to become the 7th biggest one in terms of TVL.
Our farmers have deposited over $1.3M in $USDC via FARMStead USDC-24 Vault to get extra $iFARM rewards.
What’s more, over $500,000 in $USDC has been borrowed and counting!
About Fuse
Fuse is a product of Rari Capital. It is an open interest rate protocol, where users can create their own interest rate markets with customized assets and settings. Pool creators can choose all the parameters they want: interest rate curves, oracles, etc., and then users can enter and exit positions in each of the pools. This is all done trustlessly and no longer requires lobbying to a DAO to list any given asset.
About Rari Capital
Rari Capital was founded upon a principle whereby yield could be generated without speculation, and instead: utilization. Rari Capital is managed by the $RGT which manages governance over all of the Rari Protocol, a DeFi robo-advisor for maximizing yield.
Connect with Rari Capital: Website — Twitter — Discord
About Harvest Finance
Harvest is an asset management platform that maximizes yield for assets deposited by users. Harvest reduces gas costs and develops cutting-edge strategies to become the stop-shop of yield farming in DeFi.
Connect with Harvest: Website — Twitter — Discord
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This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information may be accurate. Consult a financial professional before making any financial decisions.
