Harvest Finance
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Harvest Finance

Recap: Week 62

Coinbase Pro, Crypto.com, NFTs and High-APYs!

Dear Farmers,

It’s been a busy week at Harvest and its farms!

From incredibly high APYs in some vaults to content creation bounties on Layer3 and new pairs for $FARM. Let’s get started, shall we?

Summary

  1. Farmer Chad limited edition NFT ft. Bancor
  2. YEL-ETH vault hits record APY
  3. Forex Yield farming crosses $5M in TVL
  4. LQTY Vault surpasses 5k APY
  5. Harvest Finance bounties on Layer3
  6. Crypto.com app enables $FARM deposits and withdrawals
  7. Borrow ETH against wstETH on the Harvest Pool at Rari
  8. $FARM/$USDT pair at Coinbase Pro

1. Farmer Chad limited edition NFT ft. Bancor

November 1: Harvest kicked off the week with a bang, collaborating with Bancor to release a limited edition NFT of Farmer Chad. This Halloween-themed NFT falls under the Chad and Friends NFT collection, which has a total of 20 artworks. There’s still one up for grabs!

What’s more, all of the proceeds from this NFT sale go to the support of gitcoin projects!

Details: OpenSea page| Twitter announcement

2. YEL-ETH vault APY Hits ~7,500%

November 1: The first of two high-performing vaults on Harvest Finance this week is YEL-ETH, which provided a whopping 4,963% APY. Since then, it’s been performing even better — sitting at over 7,500% at the time of writing!

Yield Enhancement Labs (YEL) provides yield enhancement and automated farming strategies on the Ethereum, Binance Smart Chain, Fantom, and Polygon networks. We launched the YEL vaults in September, and Harvest is even one of the multi-signers for the $YEL contract.

Details: Medium announcement

3. Forex yield farming crosses $5M in TVL

November 2: In association with the good folks at Jarvis Network, Harvest Finance allows you to participate in Forex yield farming. When we first introduced it last month, the $EUR, $GBP, and $CHF collectively accumulated a TVL of $2 million in just 30 hours.

But since then, the numbers have just continued rising, and in November it breached the $5 million mark! We can see that you’re loving it and you can find the vaults under the Polygon tab on Harvest.

Details: Medium announcement

4. LQTY Vault surpasses 5800% in APY

November 2: The second vault that’s been outperforming this week is $LQTY. At first offering an APY of ~5,835%, it also provides rewards in $LUSD, $ETH, and $iFARM! The APY stands at 3,780% at the time of writing!

The Liquity protocol lets you borrow interest-free on Ethereum. We added the $LQTY vault in July 2021. The $LQTY operates the $LUSD stablecoin, capturing the fee revenue generated by the system and incentivizing early adopters and frontends.

Details: Medium announcement

5. Harvest Finance bounties on Layer3

November 2: Harvest Finance and DAO infrastructure platform Layer3 teamed up to bring content creation bounties on Layer 3!

Users have 5 content creation tasks to choose from, which, if properly completed, reward them in $FARM. There’s a total of $4,800 in bounties up for grabs, and the tasks cover a wide range of skills.

Details: Harvest Bounties on Layer3 | Medium announcement

6. Crypto.com app enables $FARM deposits and withdrawals

November 3: More good news for those of you who prefer to use the Crypt.com app — deposits and withdrawals for the $FARM token were enabled on the Crypto.com app early this week.

7. Borrow ETH against wstETH on the Harvest Pool at Rari

November 3: Did you know that you can leverage your ETH 2.0 stake to borrow more ETH? Well, now you do!

The Harvest FARMstead Pool on Rari Fuse is one of the few places you can use wstETH to borrow ETH. There’s over $367 million wstETH in circulation just waiting to be put for better use!

Details: Harvest FARMstead pool

8. $FARM/$USDT pair at Coinbase Pro

November 4: To cap of the excellent week, we have Coinbase Pro listing the $FARM/$USDT pair!

The current state of the pair is in limit-only mode. We love to see this pair getting traction on the most popular US exchange!

***

Another fruitful week has passed!

Happy farming!

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