Intro to Harvest
Hello all, I would like to introduce to you all a great DEFI staking platform and coin. The platform is called Harvest Finance and it is currently the 6th highest ranked DEFI platform in Total Value Locked in the system as you can see on Defi Pulse:
On the platform, there are a range of different coins and pairs that you can stake, or harvest as the platform refers to it:
As you can see, there are many options to choose from and they all have interest rates corresponding to each one. Although many of the pairs have attractive rates that would be unheard of in traditional finance, the FARM harvest token has a whopping 488% APY as of writing this! That checks out to 1.33% a day. I do have to tell you that this rate does change a lot and this is the highest that I have seen it in the week I have been farming but I will say that the lowest I have seen it is still 200%!
You may be asking, how do I get a piece of these rewards? Well it’s pretty simple really(as long as you can pay gas fees which are always ridiculous). All you have to do is:
- Head over to the website:
https://harvest.finance/ or just search up harvest finance in google if you don’t like using links.
- Buy FARM Token:
Once on the website, there is a button to take you to the uniswap application to exchange your tokens for FARM token which will be staked to earn these ridiculous interest rates.
- Connect your wallet
Once you purchase FARM token, head back to the harvest.finance website and connect your wallet that you use uniswap with or hold the FARM tokens in (I like to use metamask).
- Go to stake section on harvest finance
Once connected, head over to the “stake” section of the website:
Which will take you to a page looking like this:
On this page, you will see all the different coins available to stake again along with their rates. We are again looking at the “Profit Sharing” pool that you deposit FARM token and receive FARM token. As you can see, under where it shows our APY it says that the stake Auto-compounds which means as soon as you earn interest on your staked coins, the coins you earn add to your pile that you are staking therefore compounding your returns instantly and constantly which is how the REAL money is made!
- Stake your coins
Stake your coins by pressing the “Stake” button and follow the prompts and instructions that it guides you through.
- Watch that passive, compounding income roll in!
Thanks for reading! If you all have any questions or need me to clarify anything please leave a comment below! I will be providing updates as this investment develops of course! I do want to say that I am not affiliated with this project and do not receive any compensation for you reading this, clicking on any links, or buying into this project. However if you would like to check out some of my other passive income strategies and tutorials using my referral links provided in those that would be greatly appreciated! The links for those strategies are here: Made 40% in 1 week copy trading