Week 16 — Greetings from 2077!
Hello Humble Farmers,
🔮 We are writing from the future. Crypto has become the world’s reserve currency system and the Harvest Cooperative has become one of the world’s largest financial cooperatives. Farmers all over the world are brimming with optimism and enjoying year round record yields. The lands are refreshingly free of bandits and psyops. A culture of 69 and 420 has gone viral and has become the desired aspirational lifestyle of many. Unlike the dystopian outlook of Cyberpunk 2077, Harvest paints a future of abundance and generosity. Looking back on 2020, it was a year of many firsts including the birth of Harvest.
🎄 As we make our way through December, we are not done with the year yet! With a few weeks left, the Harvest Cooperative continues to fire on all cylinders and make new community hires building new strategies to keep the tractor moving! We’re excited to share more about some of these announcements!
💱 We are pleased to announce that Poloniex will list FARM around 2pm UTC on Wednesday, December 16. We will be listed when Poloniex updates their listings page here. The FARM trading competition on Poloniex will commence 3 hours after deposits open, which is approximately around 5pm UTC on Wednesday, December 16.
📱 In addition, we’ve added a new mobile website and have upgraded our website with Chad 2077.
👇 Read on for all the updates!
👰🏽 Proposal: Lend and borrow FARM on AAVE!
💹 Earning some excellent FARM rewards with Harvest? Instead of selling one of the rare tokens that has profit share and cash flow built in, what if you could leverage FARM for more stable coins from Aave, which you could then stake at Harvest to earn more FARM, deposit at Aave… rinse and repeat endlessly! If this sounds as amazing to you as it does us, then chime in with your feedback over at the Aave Governance forum here and help us make it a reality. If we ask our friends and get more community involvement, it will happen.
🔍 ImmuneFi — Bounty Program
🐞 We have launched a bounty program on the ImmuneFi platform, offering up to $50,000 in rewards depending on the bug severity. Mainly we are interested in securing the farmland’s smart contracts, which can be found here. Primary areas of concern are anything that causes loss of user funds or frozen funds from a smart contract hack.
🔒 Our secondary areas of interest are in securing the website. Web vulnerability disclosures will be rewarded at a lower rate, relative to smart contract vulnerability disclosures. For more in depth information about the bounty programs and the rewards, visit the bounty page here.
❄️ SnowSwap your fAssets
🧊 Our friends at SnowSwap have been supporters of the Harvest farmlands from our inception, and now they have added even more support for swapping between fAssets which now includes FcrvRenWBTC with YcrvRenWSBTC. This makes it much easier for Harvest users to efficiently swap small amounts of Y assets without the large gas costs.
💰 Additionally at SnowSwap, you can deposit YcrvRenWSBTC and/or FcrvRenWBTC for LP Rewards and mint BTCSnow. You can then stake BTCSnow to earn SNOW. Thats multiple layers of rewards when you use both Harvest Finance and SnowSwap together! Head here for more info about their project, and then get your snow shovels ready for all those rewards heading your way.
🎥 Harvest Live AMA
🙋 For the past week we have been soliciting Ask Me Anything (AMA) questions on Reddit so all of the Harvest and wider crypto community has the opportunity to ask us any burning questions you may have about the project.
❓ The thread has since been locked to new questions, and this upcoming Thursday a live stream will be hosted by Gabriel Haines where Community Manager ‘Redmption’ will review and answer all questions, and time allowing, take any new questions that might come in during the live stream. Be sure to tune in here!
🏆 APY Vision Giveaway Winners
👁️ In last week’s update we mentioned an awesome giveaway by APY Vision and they have just announced the 10 winners of the APY x CHADPRO NFT which grants PRO access to http://APY.vision (until 3/31/2021).
👉 Check out this tweet for more information and to see if you won!
🖌️ Creativity Contest — Round 4
🎨 Two weeks ago, we launched the fourth round of the Creativity Contest with the theme of “Christmas, New Years and The Holiday Season” and the entries continue to roll in! This week we feature community musician Bryan Divisions who continues to impress with his lyrical prowess. Give his new Harvest Finance beat a listen and hit that retweet button.
🎁 Be sure to review the Creativity Contest announcement and rules here, and get your entries submitted. And remember, this is all forms of art from poetry to artwork to memes, baking and everything in between. There are over $5000 in FARM prizes up for grabs, so don’t miss out!
💰 Mint Announcements
📅 Up until now, we have been announcing the mint of FARM tokens 24 hours ahead (on Mondays). When Mondays are busy (such as when we were releasing GRAIN), the mint is just one more thing to think and not forget about. If we forget, the emission on Tuesday, subjected to 24 hours minting timelock, gets delayed. Therefore, as part of each weeks emission, we will also announce the mint of FARM scheduled for the next week.
🏧 Emission Overview
💹 Week 16 Farming Incentives:
1️⃣ In Week 1, 57569.1 $FARM were issued (mint 1, 2, 3).
2️⃣ In Week 2, 51676.2 $FARM were issued.
3️⃣ In Week 3, 26400.2 $FARM were issued (mint, burns 1, 2, 3).
4️⃣ In Week 4, 24997.5 $FARM were issued.
5️⃣ In Week 5, 23555.0 $FARM were issued.
6️⃣ In Week 6, 22507.83 $FARM were issued.
7️⃣ In Week 7, 21507.22 $FARM were issued.
8️⃣ In Week 8, 20,551.42 $FARM were issued.
9️⃣ In Week 9, 19637.46 $FARM were issued.
🔟 In Week 10, 18764.46 $FARM were issued.
In Week 11, 17,930.26 $FARM were issued.
In Week 12, 17,133.15 $FARM were issued.
In Week 13, 16,371.47 $FARM were issued.
In Week 14, 15,643.66 $FARM were issued.
In Week 15, 14,948.20 $FARM were issued.
In Week 16, 14,283.66 $FARM will be issued.
📉 $FARM emission in week 16 is further reduced by 4.44% from last week’s emission of 14,948.20. This is part of the emissions cut community vote where 99.12% of the votes approved this decreasing emissions plan. After ensuring sufficient emission to bootstrap critical liquidity and incentivize capital providers, additional emission provides diminishing returns to Harvest.
10,019.99 $FARM (70% of week 16) will be distributed to capital and liquidity providers as follows:
🎉 746.14 $FARM (5.22% of week 16) to stablecoin deposits into Harvest yield farming:
- 383.19 $FARM for USDC pool (2.68% of week 16 total)
- 197.40 $FARM for USDT pool (1.38%)
- 148.28 $FARM for DAI pool (1.04%)
- 17.27 $FARM for TUSD pool (.12%)
🚀1850.43 $FARM (12.95% of week 16) to Curve deposits into Harvest yield farming:
- 447.69 $FARM for YCRV pool (3.13%)
- 447.69 $FARM for 3CRV pool (3.13%)
- 308.41 $FARM for CRV-USDN pool (2.16%)
- 308.41 $FARM for CRV-BUSD pool (2.16%)
- 308.41 $FARM for CRV-COMPOUND pool (2.16%)
- 29.85 $FARM for CRV-HUSD pool (.21%)
₿ 1019.73 $FARM (7.14% of week 16) to BTC deposits into Harvest yield farming:
- 24.87 $FARM for renBTC pool (.17%)
- 44.77 $FARM for wBTC pool (.31%)
- 666.55 $FARM for Vault_CRV_renwBTC pool (4.67%)
- 198.97 $FARM for CRV:TBTC pool (1.39%)
- 84.56 $FARM for CRV:HBTC pool (.59%)
🤑 124.36 $FARM (.87% of week 16) to WETH deposits into Harvest yield farming
🍣 1691.26 $FARM (11.84% of week 16) to SUSHI deposits into Harvest yield farming
- 348.20 $FARM for ETH-DAI pool (2.44%)
- 547.17 $FARM for ETH-WBTC pool (3.83%)
- 348.20 $FARM for ETH-USDT pool (2.44%)
- 447.69 $FARM for ETH-USDC pool (3.13%)
📈 74.61 $FARM (.52% of week 16) to ETH-DPI UNI stakers into Harvest yield farming
👨🌾 1492.29 $FARM (10.45% of week 16) to $FARM stakers in the profit share.
🚜 1193.83 (8.36% of week 16) $FARM to $FARM liquidity providers in the Uniswap USDC/FARM pool
🚜 994.86 (6.97% of week 16) $FARM to $FARM liquidity providers in the Uniswap WETH/FARM pool
🏦 49.99 (0.35% of week 16) $FARM is set aside for GRAIN buybacks. As part of the community vote, 0.5% of total emissions will be used to support GRAIN and GRAIN initiatives. The GRAIN silo address is: 0x6D0d02Ab03b4409628D147Af1a3de70F49da570e
🏦 761.07 (5.33% of week 16) $FARM is set aside as a strategic reserve for future usage. It can be used for further incentivization opportunities e.g. market-making GRAIN, for incentivizing LPs, for combining into FARM/X LP positions later, or burning.
The strategic reserve adress is: 0x19762b3b0Fe9b4d4Bd16eFA242CD1f3bCD5fa57C
100,000 GRAIN was burned here:
56,508.699423014710864473 GRAIN was burned here: https://etherscan.io/tx/0x6a9f568c0ab3c834719decb3e62919c58b2072bcf785be208150d8822eb997b7
🌞 An Optimistic and Abundant Future
🤖 In the future year of 2077, the Harvest Cooperative will become one of the most influential cooperatives in the world. In addition to its influence in the global economy and finance, you will have farmers such as Bryan Divisions influencing global media and psyops risk mitigation, community managers such as Redmption as UN representative, and many of YOU, the humble farmers, contributing as heads of technology, degeneracy and much more. In a world run on protocols, we will need many more self selected ambassadors and builders to come join us.
👷 Look out for the many opportunities to contribute in the form of builder job opportunities and various community contests. Come discover the various contribution avenues by joining our Discord.
⏱️ With two weeks left in the year, we have much more to do and so little time. Come join us on this journey in making the Harvest Cooperative the largest decentralized farming cooperative and the easiest place to discover and automatically earn the highest yields in DeFi.
👋 Until next week!