Introducing a better way to put your $iFARM to work
At Harvest, we are constantly exploring new angles to maximize the value of assets, including our native $FARM & $iFARM tokens.
Earlier this year, in collaboration with UMA Protocol, we launched $fCASH — a synthetic yield dollar backed by $iFARM.
It was the first use case of $iFARM that allowed its holders to put it as collateral and unleash extra value atop of it.
Our collaboration with UMA saw more than $fcash 250,000 units in circulation at its peak. That’s a pretty baller number for a feature that even defi degens struggled to wrap their heads around.
The decision was made to discontinue fCash after the current contract's expiration date: 30th of September at 00:00 UTC.
No new version of $fCASH will be deployed. Users have the option to repay their fCASH debt and withdraw their collateral before expiry or let their position expire, at which point they can withdraw their collateral minus the amount of iFARM needed to cover their debt.
If there are any questions about this process, please ask them in ❓support or open a ticket through 📝faq at our Discord.
Better Alternative — Rari
The decision to discontinue the $fCASH project was heavily influenced by the immense success of Harvest’s Pool at Rari Fuse.
At Rari Fuse, it’s way easier to put your $iFARM as collateral and borrow a wide range of stablecoins or the $ETH itself.
Head over to this article to see how you can benefit from putting your $iFARM to work at Rari Fuse.
Harvest enjoyed the process of $fCASH development and believes that the gathered experience will be useful for other venues on the horizon.
Harvest remains with UMA Protocol in a good relationship as we continue exploring new opportunities for value creation.