Harvest Finance Price

Harvest Finance (FARM) price has declined today.

The price of Harvest Finance (FARM) is $25.05 today with a 24-hour trading volume of $774,698.97. This represents a -0.90% price decline in the last 24 hours and a -5.40% price decline in the past 7 days. With a circulating supply of 670 Thousand FARM, Harvest Finance is valued at a market cap of $16,779,567.

What is FARM? 

FARM is Harvest Finance’s governance token which allows token holders to influence Harvest’s treasury and the future direction of the protocol. FARM token holders are entitled to the 30% protocol fees. 

What is Harvest Finance?

Harvest Finance is an automatic yield farming protocol that helps traders take advantage of the latest DeFi platforms with the highest yield.

Who created Harvest Finance?

Harvest Finance was built by a group of anonymous developers. The only visibility to the team is via a handful of community managers that volunteer their time. 

What problem does Harvest Finance solve?

The DeFi space is becoming more complex as more protocols are being introduced. Harvest Finance aims to help non-savvy users yield farm and get the highest DeFi yield while saving time and money. 

For users who are yield farming with small amounts of capital, it may not be the most effective use of time to constantly harvest yield from the various DeFi yield farms. Constantly harvesting yield will also incur high gas cost. Harvest Finance collates capital from various yield farmers to do yield farming more effectively saving time and money for users. 

How does Harvest Finance work?

Let’s use Harvest’s CRV strategy to understand how Harvest generates yield for its users. 

Step 1) User deposits stablecoins (USDT, DAI or USDC) into Harvest’s yCRV stablecoin farm

Step 2) Harvest collects yCRV LP tokens

Step 3) Harvest deposits yCRV LP tokens into CRV pool to farm CRV

Step 4) Farmed CRV tokens are sold on Uniswap. Profits will be distributed between the yCRV strategy and Harvest depositors. 95% of profits will be reinvested into the yCRV strategy and 5% of profits will be rewarded to users in Dai.

This is 1 of the 24 strategies currently available on Harvest Finance. Harvest has created strategies for stablecoins, Bitcoin, SushiSwap, Uniswap, Ethereum, and FARM. To learn more about Harvest’s yield farming strategies, please visit this link.

How to get FARM?

When users deposit assets into Harvest to farm, they receive fTokens which represent a yield-bearing version of the asset. For example, depositing USDC into Harvest will result in you receiving fUSDC. fTokens can be redeemed for the underlying asset at any time. 

Depositors receive 70% of the profits generated from farming via Harvest as well as FARM token rewards. The remaining 30% is sent to a protocol token buyback and profit sharing program.

Has Harvest Finance been hacked?

On 26 October 2020, hackers used flash loans to drain $33.8 million from Harvest’s USDT and USDC vaults. The attacker took out a $50 million USDT flash loan, then used the Curve Finance Y pool to swap funds and stretch stablecoin prices out of proportion. 

The attacker was able to withdraw more USDT because of the changed USDT price and this was made possible by the price calculation mechanism for deposits and withdrawals.

What was Harvest’s response to the hack?

Affected users from the hack were given GRAIN tokens in a pro-rata manner based on their deposits. They were also given a pro-rata share of the $2.5 million which was returned by the attacker.

For example, if a user had a 100 USDT loss from the hack, he would get approximately 7.39 USDT, and approximately 92.61 GRAIN.

The distribution was based on a total affected value of $33.8 million.

Is Harvest Finance safe after the hack?

Harvest promised to work on mitigation strategies to stop this kind of flash loan attack from occurring again in the future. They are also looking into insurance options and reparation strategies. Specifically, a new yCRV vault is open for deposits with the flash loan attack vector mitigated so it can no longer be used.

However, that being said, it is still very risky to use DeFi protocols and users should be aware of the various risks before interacting with these smart contract protocols.

Where can you buy Harvest Finance?

FARM tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Harvest Finance is Binance, where the most active trading pair FARM/USDT has a trading volume of $244,015.43 in the last 24 hours. Other popular options include MEXC and Coinbase Exchange.

What is the daily trading volume of Harvest Finance (FARM)?

The trading volume of Harvest Finance (FARM) is $774,698.97 in the last 24 hours, representing a 70.20% increase from one day ago and signalling a recent rise in market activity.

What is the all-time high for Harvest Finance (FARM)?

The highest price paid for Harvest Finance (FARM) is $5,078.47, which was recorded on Sep 02, 2020 (almost 3 years). Comparatively, the current price is -99.50% lower than the all-time high price.

What is the all-time low for Harvest Finance (FARM)?

The lowest price paid for Harvest Finance (FARM) is $20.67, which was recorded on Jun 10, 2023 (about 1 month). Comparatively, the current price is 21.40% higher than the all-time low price.

What is the market cap of Harvest Finance (FARM)?

Market capitalization of Harvest Finance (FARM) is $16,779,567 and is ranked #736 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of FARM tokens (670 Thousand tokens are tradable on the market today).

What is the fully diluted valuation of Harvest Finance (FARM)?

The fully diluted valuation (FDV) of Harvest Finance (FARM) is $17,656,136. This is a statistical representation of the maximum market cap, assuming the maximum number of 700 Thousand FARM tokens are in circulation today. Depending on how the emission schedule of FARM tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Harvest Finance compare against its peers?

With a price decline of -5.40% in the last 7 days, Harvest Finance (FARM) is underperforming the global cryptocurrency market which is down -0.70%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

What is the market sentiment of Harvest Finance today?

The community is bearish as more than 50% of users are feeling bad about Harvest Finance (FARM) today.

How to add Harvest Finance (FARM) to MetaMask?

Adding Harvest Finance (FARM) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import FARM as a token. You can copy FARM’s contract address (0xa0246c9032bc3a600820415ae600c6388619a14d) and import it manually, or if you've installed MetaMask's chrome extension, add FARM to MetaMask with one click on CoinGecko.

Add FARM to MetaMask.