Dec 22, 2020
🎄Week 17 — 🌿 420 and ♋ 69 in the Festive Season!
🎅 To Humble Farmers across all of the DeFi lands and world,
🎉 Harvest Finance would like to wish you and your family a very happy holiday season! Here at Harvest, we aim to do the hardWork so that humble farmers everywhere can take the time to vacation and spend time with their family — a true form of 🌿 420 and ♋ 69.
🎯 As we continue to reflect on all that has happened this year, our mission remains the same: automatically discover and farm the highest yields in DeFi. It is even more true during the holiday season when there might be other priorities than looking for the juiciest crops.
🤝 In addition to another amazing UI holiday update from our community, we’re excited to be working closer with collaborators such as Dharma who is building the Robinhood for Crypto. We look forward to more collaborations similar to this and our Hoo listing in the new year. Read on to see what’s been going on!
👨🏫 Harvest 101: Understanding Profit Share
👂 The community has spoken and we are listening! After gathering extensive feedback from our community managers, moderators, and collaborators, Harvest has created an easy to understand guide on the dynamics of Harvest’s revenue generating platform and its profit share pool. The Harvest Cooperative is the first aggregator of its kind to reward its farmers with profits from the farming done. Dive in deeper here!
🎤 AMAs and Podcasts
📹 After collecting all of your questions via Reddit, Harvest met with our friend @GabrielHaines last week for a live stream AMA to spread more knowledge and provide more #BreadForThePeople. It was a great time, and an excellent source of info about what Harvest is and where it’s headed. Don’t worry if you missed the stream, you can click here for a replay!
🥖 And what better way to maximize shouts of #BreadForThePeople? How about appearing on one of cryptos most popular video podcasts, Meet the Nation by our good friends at Bankless! We continued talking up the theme of what makes Harvest so special and different from other projects, and that’s you our community, who contribute so much to the on-going success of the farmlands. Click here for the video.
📈 But wait, there’s more! Recently FARM was listed on Hoo.com, a decentralized exchange, and our community manager ‘JB87’ was invited to their Telegram chat for an AMA with their users, many of whom may have never heard of Harvest Finance or the 30% profit share associated with the FARM token. We love these opportunities, so please let us know if you see a project looking to collaborate with a group of hardworking and humble farmers.
🏆 Announcing our Gitcoin Bounty Winners!
🧠 Similar to the creative and artistic skills of our amazing community, we also have stellar technical farmers and builders in our midst. Equally as important as our memes and psyops capabilities, our technical talent has created seamless experiences that make our industrial farming easier and more efficient.
🥇 1st Place Winners:
🤩 We had two submissions that were so great we awarded both 1st place!
⚙️ Our humble farmer affaxltd built a universal converter of tokens across dexes while farmer69420 wrote a utility contract that allows depositing base assets into curve pools and then to Harvest. Without these two contributions, farmers would have to manually do these tasks themselves. With the contributions from affaxltd and farmer69420, we save farmers gas and time by automatically doing it.
🥉 3rd Place Winner:
Third place goes to codinmaster! Farmer codinmaster was also able to make depositing base assets a lot easier for farmers.
Congratulations to all the submissions out there! We will continue to have more jobs coming up paying out rewards! Be on the lookout for future bounties here!
🚜 FARMland Expansion
💱 In last week’s update we announced the listing of FARM on Poloniex, which was followed by the listing on Hoo Exchange. Now to make it even easier for users to participate in the Harvest Finance profit share, the awesome team at Dharma has made it so anyone can buy FARM using fiat from a U.S Bank account. Quick and easy without needing to make multiple swaps, Dharma is a great fit for Harvest’s initiative to be a ‘one click’ investing solution for the mainstream.
🏎️ 88MPH — NFTs to the Future!
The art revolution hitting the blockchain space is enabling some killer artisans to express themselves, and with 88MPH, art and finance has collided to create a new way to collect art while earning premium returns on your deposits. Head over to the auction website to bid on this CyberChad worthy collectable which also earns you the following benefits with 88MPH:
5.1443% fixed-rate APY on 100 $yCRV (Harvest, 1y). You can withdraw the principal & the interest at maturation on 88mph & keep the original visual by @M_Man_WithNoName
👁️ APY.Vision Week 2
🎉 APY.Vision has announced the round 2 winners of their Special Limited Edition “HarvestXAPY.Vision Chad Pro” collectibles giveaway, that entitles the NFT holder PRO access on https://apy.vision for 3 months (valued at 1 ETH). Only 80 of these Limited Edition NFTs exist. Stake your FARM/USDC LP tokens in the farming pool to be eligible!
❓ What is APY.Vision? “APY.vision is a platform that helps liquidity providers (LPs) track their liquidity pool holdings so they can maximize their gains (and minimize their losses) when providing liquidity. They provide research tools so that farmers can easily match their risk tolerance to the right pools in an easy to use, clean user interface.”
🎄 Cornucopia of Creativity
The bounty is overflowing and submissions continue to flood in from our community in Round 4 of the Creativity Contest! This holiday season has really inspired everyone to give their best effort, and we think this round might be the most diverse yet. We’ve seen some magical merchandise, sweet treats, and poems to put tears on your cheeks. What to expect next? If you haven’t already, be sure to review the contest rules and then get your entries submitted. You only have until 26th December 2020 to get them in!
👇 Now check out the below for some inspiration:
🏗️👷 Builder Jobs Contest
📒 Recently, we launched a contest offering a total of $1000 in prizes to people who help with the following task for the benefit of the Harvest cooperative:.
🗒️ The task is to organize the backlog of items that could benefit the cooperative. For each of the task, we’d like the person to prioritize the task, with low/medium/high priority, as well as label each task with the “roles” or “skills” needed to plow through that backlog. The scope of the tasks that are to be prioritized include the community dashboard, community dev projects, community wiki, research for new farming strategies, R&D for new ideas suggested by community members, as well as UI/UX and other site improvements to harvest.finance
🏆 The best submission will receive $700, the second place submission will receive $300.
We are delighted to announce the following winners of the contest:
🥉 3rd place — Arden7one — A list of ideas from our doc file: https://www.notion.so/Harvest-Finance-4a7c60d1ecf94d6988bd0361c5949201
🥈 2nd place — hackingmoneyph — A standard implementation of a Kanban board built through Notion: https://www.notion.so/Harvest-Finance-Barn-of-Operations-7a25332cede74286a40ed6fa98f3d021
🥇 1st place — kiljaem — Incredible work! Extremely detailed and added a ton of functionality. A product that is ready to use: https://www.notion.so/Harvest-Work-Board-4a04b97556e54fb7b11d37a2364b5eff
🏧 Emission Overview
💹 Week 17 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 were issued.
In Week 17, 13,648.66 $FARM will be issued.
📉 $FARM emission in week 17 is further reduced by 4.44% from last week’s emission of 14,283.66. 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.
This week:
9,554.06 $FARM (70% of week 17) will be distributed to capital and liquidity providers as follows:
🎉 712.97 $FARM (5.22% of week 17) to stablecoin deposits into Harvest yield farming:
- 394.24 $FARM for USDC pool (2.9% of week 17 total)
- 165.77 $FARM for USDT pool (1.21%)
- 136.61 $FARM for DAI pool (1%)
- 15.35 $FARM for TUSD pool (.11%)
🚀 1758.66 $FARM (12.89% of week 17) to Curve deposits into Harvest yield farming:
- 427.78 $FARM for YCRV pool (3.13%)
- 427.78 $FARM for 3CRV pool (3.13%)
- 294.70 $FARM for CRV-USDN pool (2.16%)
- 294.70 $FARM for CRV-BUSD pool (2.16%)
- 294.70 $FARM for CRV-COMPOUND pool (2.16%)
- 19.01 $FARM for CRV-HUSD pool (.14%)
₿ 855.57 $FARM (6.27% of week 17) to BTC deposits into Harvest yield farming:
- 23.77 $FARM for renBTC pool (.17%)
- 95.06 $FARM for wBTC pool (.70%)
- 475.31 $FARM for Vault_CRV_renwBTC pool (3.48%)
- 190.13 $FARM for CRV:TBTC pool (1.39%)
- 71.30 $FARM for CRV:HBTC pool (.52%)
🤑 118.83 $FARM (.87% of week 17) to WETH deposits into Harvest yield farming
🍣 1616.07 $FARM (11.84% of week 17 to SUSHI) deposits into Harvest yield farming
- 285.19 $FARM for ETH-DAI pool (2.09%)
- 522.85 $FARM for ETH-WBTC pool (3.83%)
- 285.19 $FARM for ETH-USDT pool (2.09%)
- 522.85 $FARM for ETH-USDC pool (3.83%)
📈 47.53 $FARM (.35% of week 17) to ETH-DPI UNI stakers into Harvest yield farming
👨🌾 1425.94 $FARM (10.45% of week 17) to $FARM stakers in the profit share.
🚜 570.38 (4.18% of week 17) $FARM to $FARM liquidity providers in the Uniswap USDC/FARM pool
🚜 998.16 (7.31% of week 17) $FARM to $FARM liquidity providers in the Uniswap WETH/FARM pool
🏦 47.77 (.35%% of week 17) $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
🏦 1402.18 (10.27% of week 17) $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
🎪 A Festival in the Farmlands
🥳 🎅 As farmers worldwide take time off to focus on what matters most for them, rest assured Harvest will be here tending to the crops and ensuring farmers can 🌿 420 and ♋ 69 to their heart’s desire. From the team at Harvest Finance, happy holidays!
👋 Until next week!
