The End of FARM Emissions — What It Means & What’s Next
At 07:46 PM UTC on September 6 2024, FARM emissions ceased.
There are now 690,420 FARM in circulation, and no more will be created.
With the end of FARM emissions, it’s essential to understand what this means for the community of farmers and the future of Harvest.
The Journey of FARM Emissions:
The $FARM token was introduced when Harvest launched on September 1st, 2020, to provide incentives to yield farmers using the Harvest platform.
The token was released without pre-mining, presale, or venture capitalist involvement, starting with a 0 circulating supply at launch. FARM tokens were never sold through an ICO, TGE, or any fundraising venture, ensuring a fair and transparent distribution.
Now that we’ve reached this target, no new FARM tokens will be minted. The emissions process is complete, marking a new chapter for Harvest and its community.
Sustainability of FARM Value
With the end of emissions, the inflation of FARM’s supply has ceased. As no new FARM tokens will be created, the supply of existing tokens is now finalized.
FARM stakers and iFARM holders will enjoy a stabilized supply while continuing to participate in the Harvest ecosystem, which includes over 200 active strategies, all working to maximize the potential for rewards stacking.
Focus on Treasury Management:
As always, Harvest remains focused on the platform’s long-term sustainability. Even with the end of FARM emissions, a strategic reserve of FARM tokens exists to ensure continued rewards for users and the platform’s longevity for years to come.
This reserve, along with our treasury management approach, helps to ensure that contributors can continue to be compensated for their work, supporting Harvest's ongoing development and success.
Notes on the previous maximum supply
$FARM was launched with a hard-coded maximum supply of 5,000,000 tokens, which would be minted over 4 years.
In this initial period, it was noted that emissions were higher than needed for the project's growth. As a result, a total of 14,850.108 $FARM tokens were burned irretrievably to 0xffffffffffffffffffffffffffffffffffffffff to decrease the total circulating supply.
In Week 5, FARM holders voted overwhelmingly to cap the maximum supply at 690,420 tokens by reducing token emissions by 4.45% every week until week 208.
Note: Etherscan displays 705,261.68 MAX TOTAL SUPPLY, which also accounts for the FARM tokens burned in its early days.
FARM Emissions Tracking
FARM distributions and destinations can be tracked via this Dune query.
What’s Next for Harvest
Harvest continues to build the #1 Yield Farming platform in DeFi by providing users with easy access and performance tracking on all devices.
List of the latest product improvements:
▶️ A sleek farm overview displaying your past, current, and future yields
▶️ A breakdown of your Latest & Lifetime Yield from any farm
▶️ A highly detailed performance chart showcasing the evolution of the underlying balance and its USD price
▶️ Start farming with any token in your wallet on all supported networks
▶️ Preview monthly and daily yield estimates before you start farming by simply entering any number of selected tokens in the Convert input field!
▶️ Preview all your farming positions via a revamped Dashboard page, which also acts as the app’s homepage
▶️ Preview input and output tokens’ live USD valuations
▶️ All main user actions, Convert, Revert, Stake & Unstake, now happen on a dedicated pop-up that guides users by hand on the next step.
▶️ Discover the new SharePrice chart on the farm’s details page for better insight into its performance.
▶️ A fully mobile-friendly experience will help accommodate users from mobile-first continents like Asia and South America.
Latest Ecosystem Highlights
▶️ Learn & Earn Campaign with Coinbase (results)
▶️ ARB Arbitrum LTIPP Campaign (results)
What’s Next
Harvest remains committed to building the premier yield farming platform in DeFi, providing users with seamless access and detailed performance tracking across all devices.
As we move forward, we’re excited to explore new synergies with partners like Spectra, a yield protocol that will allow farmers to lock in fixed rates or speculate on the yield evolution of farming strategies. We’re also collaborating with Superform, which lists Harvest vaults on their platform, driving additional TVL to our ecosystem.
In our ongoing effort to enhance user experience, we’re working closely with Portals.fi to explore better UX solutions, such as cross-chain zaps, making it even easier for users to manage their assets across different networks. Additionally, Harvest is expanding by building new farms on leading Layer 2 solutions like Base and Arbitrum. We’re also focused on developing our product to cater to a broader audience by simplifying the app interface, language, and overall user experience.
Harvest’s journey is far from over, and we’re excited about the future.
About Harvest Finance
Harvest helps users grow their crypto via automated yield farming. It offers the most insightful performance tracking, the lowest fees, and a variety of farming opportunities on Ethereum Mainnet, Base, Arbitrum, and Polygon.
