Harvest is a community of farmers that pool resources to generate DeFi returns. Harvest Finance is a yield collector that organizes and automates the yield farming process for its users. FARM token was also launched when Harvest Finance emerged on September 1, 2020, to provide efficiency and incentives to farmers thanks to the Harvest platform. Detailed information about what is Harvest Finance coin (FARM), how it works, how much it costs, how to buy it, which stock market it is on, etc. is in the continuation of the content. You can browse here for information about Merit Circle coin (MC).
What is Harvest Finance coin (FARM) and how does it work?
As Decentralized Finance (DeFi) grows, it is increasingly common for protocols to provide token rewards in exchange for using their platform, often in the form of “stake” tokens. The collection of these rewards is often called “yield farming” or “liquidity mining”. Harvest Finance, which acts as an intermediary in this process, collects tokens from many users and collectively stakes them on behalf of its users, saving network fees (gas).
Harvest Finance automatically collects or “harvests” (harvest) reward tokens on behalf of its users on a regular basis. It then combines the interest earned by exchanging them for the underlying assets that users have deposited. This saves users both time and network fees associated with multiprocessing. It also improves annual returns through automatic defragmentation mechanisms. When farmers save, Harvest uses the latest farming techniques to automatically get the most out of those deposits
How to use FARM token?
FARM token was also launched when Harvest Finance emerged on September 1, 2020, to provide efficiency and incentives to farmers thanks to the Harvest platform. Farm coin is ERC-20 token.
The most important innovation provided by the FARM token is that it gives token holders a performance fee from Harvest’s yield farming strategies. While each strategy can pool different assets, the performance fee is used to buy FARM on the open market and then distributed to those who own FARM shares in the “Profit Sharing” pool. As a result, the FARM price is subject to consistent buying pressure. The value of FARM comes from the profits generated in the various strategies applied.
How is FARM mining done?
With a supply of 0 tokens at launch, FARM was launched with a maximum supply of 690,420 hard-coded tokens to be minted over 4 years. It is regularly burned to control inflation. Mining is done through staking.
How to buy FARM coin and on which exchange?
FARM token is listed on some cryptocurrency such as Binance, Mandala Exchange, Gate.io, MEXC, Coinbase Exchange, etc and it can be purchased these exchanges. However, before investing, it is necessary to make sure that the exchange and the crypto project is “TRUSTED”. This is so important for investors.
FARM token price!
As of February 23, 2022, at the time of the writing, 1 FARM coin price is around $82,77 (price can change instantly because of high volatility).
Caution: The information contained in this content is for general informational purposes only. It is not investment advice.
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