Hey yield farming enthusiasts! Sorry I missed a week in there (+1 day) but I better late than never! I just got wrapped up in Harmony yield farming that despite my love for yield farming on BSC… I just completely ignored my portfolio and chased my profits over there. I’ll share a little bit of my thoughts in the closing but I just wanted to also give you the heads up that the month of April will be very awkward for me. I have some prewritten posts but I am not sure that I will make these BSC updates until later in the month (like probably +3 weeks from now). The nice thing about BEEFY is that I don’t have to worry about harvesting! But yeah, work is a bit busy that I’ll be a way for a little while. With that being said… Here it is!
Again, I am sorry… I don’t plan on doing a lot of analytical this week. But as I was compiling my numbers I noticed that the “advertised” APRs are like double for a lot of these farms. Maybe they are factoring in the price of the tokens into the APR? Although that shouldn’t really matter… But maybe since CAKE is on fire the next days will be better? I’m not sure… But… Let’s compare BEEFY to AUTO!
Beefy 167% APR overall (vs 5% on week 1)
AUTO 17%(+2.235% from AUTO) APR overall (vs 19% on week 1)
Verdict: Clear winner for BEEFY! I am guessing there was a BEEFY Boost but that’s a huge difference!
BEEFY: Week 3 APR 29%
AUTO: 15% + .8%
Verdict: BEEFY again. I would have used overall but because BEEFY had that BOOST week 1, it was so heavily in favor for BEEFY. But even still, what a huge difference! AUTO just did not line up these last couple of weeks.
BEEFY 43% overall vs 39% week 1
AUTO 36(+ .59%) overall vs 32% week 1
Interesting enough, both groups did better but BEEFY is the clear winner again.
This one I found it kind of interesting to highlight just week 3s APR. With week 1, both BEEFY and AUTO were much higher but…
JETFUEL was much higher than the other two surprisingly.
Overall, I have been pretty satisfied with BEEFY and AUTO and JETFUEL. I have used them for two months straight now and I have earned some extra tokens which is greatly appreciated. Based on these weeks for these FOUR tokens, BEEFY is the clear winner. BEEFY has had some good developments and they got listed on Binance for free which helped their native token. Overall, pretty slick job BEEFY.
What I don’t like… I know APRs are fluctuating. I have seen them fluctuate as I look at my balances. But, this is my second time writing up an article and I see that the vast majority of my results is HALF of what is listed right now. Yes the market is in full swing right now but… You would expect APRs to go down over time and if the APRs are correct then they are doubling today vs my results for the last three weeks? I mean some of these APRs I guess could make sense… If CAKE is the reward for most of these pools… And it did go down pretty significantly so when BEEFY goes to sell the CAKE and buy my BTC which is pretty constant overall… I could see how I would get less tokens but it is something worth noting… Take the APRs at face value and don’t make your final decisions based on the listed APR.
I mentioned that I was getting into Harmony ONE DEXes in my BLOG and in DISCORD (see the footer for the discord link) but I think Harmony ONE is the next big thing for yield farming. There are only two DEXes that I know of that do yield farming on HARMONY. Viperswap and MOCHI. MOCHI which has been recommended a few times on this blog has had crazy price actions these last couple of days… Like x10 in the past couple of days. Anyways, long story short is that MOCHI on BSC launched on HARMONY as well and you can use MOCHI tokens and migrate them into BSC and yield farm over there. I have liked doubled my money over there in the past couple of days with yield farming on mochiswap. Viper as well has done really well, the VIPER token has x10 at one point. And take the fact that both are very EARLY tokens especially on HARMONY ONE with very little competition, I think these projects still can and will do a LOT more. I anticipate that I’ll come back in a month and there will be several good DEXes on Harmony ONE. Maybe even hundreds. A decentralized blockchain that offers basically free transfers and faster transfers than ETH or BSC? Sign me up. With the ETH and BSC bridge fully functionally, I think it will be huge. Read my articles to learn more or jump into discord. I’ll have limited time to respond over the next week but I’ll try my best.
Stay safe out there! Enjoy the bull market!