FARMPrice

(FARM)

FARM is the native utility and governance token for Harvest Finance. Its primary function is to serve as a cash-flow mechanism for holders. The protocol collects a performance fee from the yield generated in its various vaults, which is then used to reward users who stake their FARM tokens in the Profit Sharing pool. This allows participants to share in the protocol's revenue while also granting them the ability to vote on key governance proposals.

iFARM is the interest-bearing version of the FARM token. It represents a receipt for FARM staked in the protocol's profit-sharing contract. The main benefit of holding iFARM is that it automatically compounds the holder's share of the protocol’s revenue. Instead of manually claiming and restaking rewards, the value of iFARM grows relative to FARM over time, providing a simplified experience for users looking to earn yield on their holdings.

The FARM token features a very low maximum supply, which was capped by the community at 690,420 tokens. There was no pre-mine or venture capital sale, as the project followed a fair launch model where both developers and the community started from zero. Furthermore, all token emissions officially ended on September 6, 2024. Because the maximum supply has been reached, no new tokens will ever be minted, and the protocol now sustains its operations solely through generated revenue.

When assets are deposited into Harvest vaults, users receive fTokens, which represent their share of that vault. As the protocol earns yield, these fTokens increase in value relative to the underlying asset. This process is driven by the 'doHardWork' function, a specific smart contract operation that collects rewards from external protocols, sells them for the underlying asset, and reinvests them back into the vault to achieve auto-compounding returns.

Following a flash loan attack in October 2020, Harvest Finance implemented a restitution plan to repay affected users through protocol earnings. Since that event, the project has transitioned into a 'battle-tested' legacy protocol with a heavy focus on security. It has undergone multiple audits by reputable firms like PeckShield and CertiK and has successfully navigated several market cycles while significantly upgrading its smart contract infrastructure to prevent similar vulnerabilities.

The FARM token is available for trading on major cryptocurrency exchanges, including LBank. While originally built on the Ethereum network, Harvest Finance has expanded its ecosystem to support several other major blockchains. Users can currently access Harvest and its yield-generating strategies on Base, Arbitrum, Polygon, and BNB Chain (BSC), providing flexibility and lower-cost options for decentralized finance participants.