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Harvest Finance is an automated yield farming protocol created for users looking to put their assets to work in high producing farming opportunities. Harvest will best appeal to those who can’t manage their decentralized finance (DeFi) positions 24/7 - which is most of us.
If you’ve spent any time in DeFi, then you already know that manually moving funds around the various protocols takes time. Developing strategies and auditing positions takes time and the gas costs on the Ethereum network are high.
Harvest Finance seeks to help with all of this by automatically searching out the newest DeFi platforms with the highest yield. It then optimizes yield with the latest farming techniques.
So, Harvest works best for those looking for a convenient way to harvest yield from the latest projects in DeFi. Hence the name, “Harvest.” To put funds to work in these high-yield farming opportunities, users just need to deposit supported tokens to get started.
Uniswap is arguably the most popular decentralized exchange (DEX) on the Ethereum network, boasting over $2.7 billion in total value locked (TVL) at the time of this writing. To be more specific, Uniswap is an automated market maker (AMM). It allows anyone to swap ERC-20 tokens without having to find a buyer or seller on the other side of the trade.
Through being a DEX, people can use Uniswap in a trustless manner. They don’t have to deposit their funds or KYC identity documents to a central server where they can be hacked. After all, hackers do break into centralized exchanges (CEXs) quite often. So, to its credit, Uniswap has never had a hack or major bug inflict damage to its protocol. This has led to ever-increasing trust and has helped Uniswap vault to the top of the DeFi Pulse rankings.
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Yearn Vaults (stylized as yEarn Vaults) are one of the more exciting things happening in the decentralized finance (DeFi) space right now. Yearn Vaults are the brainchild of Yearn Finance, and comes as a response to the recent yield farming and liquidity mining trends. Specifically, Yearn Vaults are pools of funds following certain strategies, which attempt to provide passive income streams through competitive yield farming strategies.
Keeping this in mind, Yearn Vaults mainly appeal to risk-tolerant traders. However, before we jump into the specifics of Yearn Vaults, let’s do a quick rundown of the yearn.finance protocol and see exactly what it does.
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The decentralized finance (DeFi) sector continues to both evolve and amaze and yet another platform worth looking into is that of TokenSets. TokenSets is an asset management platform that automates crypto trading strategies. It provides an interface to create and buy Strategy Enabled Tokens (Set tokens). And each Set token holds a basket of cryptocurrencies whilst also representing a trading strategy.
The TokenSets team set out to create a smart contract system that could time the market for better trade position entries and exits. So, TokenSets helps traders purchase an asset that does the management for them. Moreover, it is non-custodial like other DeFi protocols. Additionally, it is also based on the assumption that the average retail traders do have the time nor the technical know-how to develop and implement these strategies themselves.
Are you getting interested in the DeFi field? After all, it is one of the hottest developments in the crypto and blockchain field...
Those looking into the DeFi field will likely come across the term "yield farming". Yield Farming is the process of putting crypto tokens to productive use in a decentralized finance (DeFi) market to earn interest. Yield Farming takes place on the Ethereum blockchain, and yes, it is a way to earn passive income on Ethereum. But “hodling” ETH tokens is not the same thing as Yield Farming.
This kind of farming is a creative process. It is also a managed process where “farmers” typically hop from one protocol to the next to maximize returns. However, farmers can also employ “set it and forget it” strategies.
Yield Farming became popular with the release of Compound’s COMP governance token. When word got out that farmers could reap Annual Percentage Yields (APY) over 100%, things took off. At present, there is over $4.5 billion Total Value Locked (TVL) in DeFi according to DeFi Pulse.
Governance tokens like COMP offer hodlers...