FARM, the token pertaining to Harvest Finance, has rallied by 88% this week. Here’s where to buy the DeFi token.
Harvest Finance (FARM) is a first-generation yield farming protocol that was created in the autumn of 2020. It’s now enjoying something of a resurgence, notching up gains of 94% over the last two weeks, and 88% in this week alone.
While much of the decentralised finance (DeFi) market flounders, Harvest Finance is flying high. Can FARM lead a recovery for the DeFi token market? Read on to find out, along with how and where to buy Harvest Finance today.
How & where to buy Harvest Finance in the UK and elsewhere
Although many decentralised exchanges (DEXs) offer FARM trading pairs, we normally advise our readers to use registered brokers and exchanges that are fully compliant with financial regulations. This is because unregulated platforms (including the majority of DEXs) are prone to fraud, scams, and unexpected shutdowns. This can leave investors’ funds at risk.
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What is Harvest Finance?
Harvest Finance is a first-generation yield farming protocol on the Ethereum network that allows users to double-down on their decentralised finance (DeFi) endeavours. Yield farming is a process by which liquidity pool tokens are “supercharged” so that users receive great rewards than they otherwise would.
Harvest Finance is one of the older yield farming projects and was founded in 2020 before the mainstream explosion of DeFi that occurred in early 2021. It employs an algorithm to hunt down the latest DeFi protocols available, in order to maximise yield for its users (new protocols typically offer huge yields to bootstrap liquidity).
FARM is the governance token of Harvest Finance, allowing users to vote on various proposals for the future of the service, and it is also claimed that FARM holders will be able to claim a portion of Harvest’s transaction fees in the future.
Should I buy FARM today?
DeFi has been the standout sector of cryptocurrency during the 2020/2021 bull market, with interest pouring in even from outside of the conventional cryptosphere—billionaire investor Mark Cuban has announced he is a fan and has even invested in certain DeFi protocols.
Several prominent analysts expect the popularity of DeFi to continue to grow, in which case it is very possible that FARM will continue its current rally. The current price is $106.01, and give the graph below, this could seem like a bargain in the coming months.