New Vault ft. Babylon Finance
Harvest’s partnership with Babylon continues to expand.
We are excited to inform you about the next step of our collaboration with Babylon. Harvest has been a key early partner in the Babylon ecosystem as our council 69 participated in Babylon’s $1.9MM seed round in early 2021.
Earlier this month, our farmers were given early access to the Prophets NFT event to help grow the Babylon community and ensure the Babylon protocol raised enough capital to bootstrap liquidity for its governance token.
What’s new today
New farmland has appeared at harvest.finance , code-named Uniswap V3: BABL-ETH.
Farmers can deploy funds in a single-sided manner thanks to our ‘Auto-swap to correct ratio’ option.
- $iFARM [auto-compunding] — coming later today!
- Trading Fees
Babylon now supports Harvest Uniswap V3 Farms as an investment primitive in all Gardens. This new integration will enable strategists to take advantage of Harvest’s robust yield farming protocol and expand the ways in which Gardens can diversify and grow their portfolio.
$BABL Token Details
It’s the governance token of Babylon.finance.
The goal of the BABL token is to ensure that Babylon.finance is owned and governed by its users. Over 10 years, 69% of BABL tokens will be distributed to the community through the mining program.
The mining program rewards protocol users for investing, generating investment ideas, curating them, and managing communities based on investment performance and assets under management. BABL holders will be empowered with protocol ownership by proposing and voting on the Babylon governance system initiatives.
About Babylon Finance
Babylon is a community-led asset management protocol that enables users to invest in DeFi together. It’s built on the Ethereum network and it’s non-custodial, transparent, permissionless, and governed by the community.
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.