Harvest Finance Collaboration With Rari Capital
One-stop shop for yield farming in decentralized finance, Harvest collaborates with Rari Capital— a decentralized finance (DeFi) project, plans to reimburse users who lost funds when almost $11 million in ethereum (ETH, +1.35%) (around 60% of users’ funds) was drained from its liquidity pool.
Harvest Finance introduced FARMstead, a Rari Fuse pool where anyone can deposit $iFARM and borrow popular stable-coins against it. With Fuse, you are able to deposit $iFARM and create your Borrow Limit by doing so. From here you can borrow any stablecoin that suits your needs and has enough liquidity.
This collaboration adds another use case for Harvest interest-bearing $iFARM token. Being able to borrow against it allows farmers to unlock extra capital on their assets to e.g. buy more $FARM (leverage) or purchase the latest tractor (a real one).
How to take advantage of $iFARM incentives as a USDC lender?
- Head over to FARMstead and supply USDC
- You will automatically receive a receipt of deposit in form of a FARMSteadUSDC token into your wallet
- Head over to harvest.finance and search for FARMstead
- Harvest will automatically detect your FARMSteadUSDC
- Stake FARMSteadUSDC into the vault and enjoy an extra $iFARM on top of your lending returns from Rari Fuse
Harvest Finance farmers who have deposited over $1.3M in $USDC via FARMStead USDC-24 Vault to get extra $iFARM rewards.
ABOUT FUSE
Fuse is a product of Rari Capital. It is an open interest rate protocol, where users can create their own interest rate markets with customized assets and settings. Pool creators can choose all the parameters they want: interest rate curves, oracles, etc., and then users can enter and exit positions in each of the pools. This is all done trustlessly and no longer requires lobbying to a DAO to list any given asset.
ABOUT RARI CAPITAL
Rari Capital was founded upon a principle whereby yield could be generated without speculation, and instead: utilization. Rari Capital is managed by the $RGT which manages governance over all of the Rari Protocol, a DeFi robo-advisor for maximizing yield.
ABOUT HARVEST FINANCE
Harvest is an asset management platform that maximizes yield for assets deposited by users. Harvest reduces gas costs and develops cutting-edge strategies to become the stop-shop of yield farming in DeFi.
RESOURCES
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