Most investors lack the knowledge, time, and spare Ethereum to yield farm for themselves. Thus, like with index funds and other “simple” financial products, innovators in the cryptocurrency space have created platforms that automate the process.<\/p>\n
Yearn.finance<\/a> is by far the largest of these products. After YFI launched months ago, capital flooding into the platform en-masse, to the tune of hundreds of millions of dollars. At one point, the platform had over $1,000,000,000 in deposits.<\/p>\n While that number has dwindled over recent weeks, other protocols are picking up the slack.<\/p>\n Harvest Finance just hit $1,000,000,000 in total locked value, making it only one of a select number of DeFi protocols to achieve that milestone. Other protocols that have achieved this include Uniswap<\/a>, Aave<\/a>, and Compound<\/a>.<\/p>\n On Wednesday, Harvest Finance, a yield aggregator that uses a farmer “Chad” as its mascot, joined the select number of DeFi protocols that passed $1,000,000,000 \u2014 $1 billion, in other words \u2014 in total locked value.<\/p>\n Getting close to 10 digits pic.twitter.com\/QMVmEjMrZm<\/a><\/p>\n — Harvest Finance (@harvest_finance) October 21, 2020<\/a><\/p><\/blockquote>\nHarvest Finance locks up $1,000,000,000 in deposits<\/h2>\n
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