What is the issuance price of Harvest Finance (FARM) coins?

During its ICO on September 10, 2020, Harvest Finance offered 8,000,000 FARM coins at $0.50 per coin, raising a total of $4,000,000 in initial funding.

Dec 03, 2024 at 01:09 am

Harvest Finance (FARM) Coin Issuance Price: A Comprehensive Guide

Introduction

Harvest Finance (FARM) emerged in the decentralized finance (DeFi) sector as an innovative platform enabling users to maximize their yield through automated yield farming strategies. The FARM coin, the native utility token of the protocol, plays a crucial role in the Harvest Finance ecosystem, facilitating governance, incentivization, and value creation. Understanding the issuance price of FARM coins is essential for investors and users seeking to comprehend the token's value and trajectory within the DeFi landscape.

Issuance Price: Unveiling the Genesis of FARM Coins

The issuance price of FARM coins refers to the initial price at which the tokens were offered to the public during the initial coin offering (ICO). This pivotal event marked the commencement of FARM's journey in the cryptocurrency market.

1. ICO Details: A Snapshot of the Initial Coin Offering

   Harvest Finance conducted its ICO on September 10, 2020, offering a total of 8,000,000 FARM coins to eager investors. The ICO price was set at $0.50 per FARM coin, representing the initial valuation of the project at $4,000,000.

   • Total FARM coins issued: 8,000,000
   • ICO price: $0.50 per FARM coin
   • Total ICO proceeds: $4,000,000

2. Distribution Dynamics: Allocation of FARM Coins

   The 8,000,000 FARM coins issued during the ICO were meticulously distributed to various stakeholder groups to foster a balanced ecosystem.

   • Public Sale: 50%, or 4,000,000 FARM coins, were allocated to the public through the open ICO.
   • Team and Advisors: 20%, or 1,600,000 FARM coins, were reserved for the Harvest Finance team and project advisors, ensuring their commitment and alignment with the long-term vision.
   • Reserve Fund: 10%, or 800,000 FARM coins, were allocated to a reserve fund to support future project developments, strategic initiatives, and contingencies.
   • Liquidity Pool: 10%, or 800,000 FARM coins, were dedicated to provide liquidity for the FARM token, facilitating seamless trading and exchange operations.
   • Strategic Partners: 10%, or 800,000 FARM coins, were allocated to strategic partners, fostering collaborations and expanding Harvest Finance's reach within the DeFi ecosystem.

3. Unlocking Value: Token Release Schedule

   Harvest Finance implemented a strategic token release schedule to ensure a gradual and controlled distribution of FARM coins, optimizing market conditions and fostering long-term token value appreciation.

   • Public Sale: 50% of the FARM coins offered during the ICO were released immediately, providing early investors with full access to their tokens.
   • Team and Advisors: 20% of the FARM coins were released over a 12-month period, ensuring the team's continued commitment and dedication to the project's growth.
   • Reserve Fund: 10% of the FARM coins were allocated to the reserve fund, subject to controlled releases as per the protocol's requirements and strategic plans.
   • Liquidity Pool: 10% of the FARM coins were utilized to establish and maintain liquidity for trading purposes, stabilizing price fluctuations and enhancing market confidence.
   • Strategic Partners: 10% of the FARM coins were released gradually to strategic partners, aligning their incentives with the long-term success of the Harvest Finance ecosystem.