Howdy there partner
Yeehaw, it's Farmer Phill checking in on this fine Sunday. Hope you guys have been having a fantastic weekend. The weather has been awesome, and the food has been even better. My coffee for today is 100% Columbian with vanilla almond milk. This is one of my favorite coffee combos because it's a more light blend. I normally drink dark roast, but I thought I'd switch it up a little today. It pairs really nice with Purple Punch electric lettuce. Anyway, I'll stop rambling about coffee and weed. Let's get to farming. As you probably know if you've seen any of my posts, I love experimenting with different blockchains and decentralized finance. I do 99% of my yield farming on Harmony blockchain as opposed to Binance Smart Chain or Ethereum for a number of reasons. If you want to learn why I choose Harmony as my blockchain of choice check out my guide here. In the guide I break down why I use Harmony and how to get started. Today, I wanted to share a new farming opportunity I discovered.
Welcome to MochiSwap
MochiSwap is a DeFi application built on the Harmony blockchain. It has yield farming pools, an exchange similar to SushiSwap, solo staking, and more. Let's take a look at the SOLO farming pools first. This is the first time I've seen a DEX that has pools where you stake just 1 asset and get a yield in tokens. Pretty fuckin awesome if you ask me. There's a pretty good selection of what appear to be mostly shitcoins, but there are a few I'd actually consider such as SUSHI. So, in this SOLO farming pool, you lock up your SUSHI and earn 227% APR in hMOCHI tokens. Holy shit. That's fucking incredible.
On to the liquidity farming pools. The old fashioned way here, you can provide liquidity betwenn 2 assets and earn LP rewards as well as farming rewards. I'm currently in the ONE-SUSHI pool earning 88% APR + LP rewards. Not too bad, but not the best I've ever seen. I'm going to be experimenting with SOLO pools next, but for now I'm playing with the good old fashioned, run of the mill, honest work yield farming.
Perhaps the most interesting feature I found on MochiSwap is xMOCHI. I assume it's similar to how xSUSHI works, but I honestly have no idea. I'm just a simple farmer. So the rewards you earn off yield farming and solo farming are paid in hMOCHI tokens. Right now, they're valued at about $0.013 which could increase. You can stake these tokens in xMOCHI and earn buybacks. The system will perform buybacks of hMOCHI tokens every 24-48 hours and distribute those rewards to people staking in xMOCHI. Very cool. I have only been doing this for a couple days so I'm curious how well this works. I will be updating later on.
Finally, the nerdy shit - analytics. If you're not a complete degenerate ape, you might want to check out the analytics page. You can get info about specific pairs such as liquidity, prices, and total value locked on here. There's even some charts n shit. The accounts tab can be used to track your wallet and see analytics for your portfolio.
I am not an expert nor a financial advisor so use at your own risk.
Well partner, time to hit the fields.
I hope you enjoyed reading and found it at least entertaining. Let me know what you think and if you have any other cool Harmony projects for me to check out.
Stay hydrated.
Peace.