About a week back, I had bought some $SUSHI as an experiment. The results were encouraging enough to continue my misadventures with yield farming in spite of sky rocketing Gas fee.
So after taking a short break of some days, I returned to market for some more shopping. I came across SHRIMP, TACOS, Spaghetti PASTA, KIMCHI etc.
All seems promising projects ...I mean, new and without any audited code. (You know, SUSHI got all its code audited today ...with at least 2 firms validating it by making their reports public. So it took away all the fun!😜). Umm... I think SHRIMP & HAM are already audited too ...so beware! 😛
Okay, I'd quote this meme from DegenSpartan
's tweet here:
So well, I got confused for what to buy with a very limited ETH left in my wallet. Honestly, the ETH I've is barely enough to pay for Gas fee I'll need to incur in retrieving my yield & pool tokens and cashing out. So how should I proceed to shop?
Well, I don't have so much time (& energy) to evaluate these many projects and compare their potential to find the best out of these. There seems to be a flood of new projects in DeFi space these days.
I've already earned more SUSHI tokens from my yield than I put in the Uniswap pool. So I decided to harvest my yield and stake them at Harvest.
Painting by Joseph-Marie Vien (1765), Remix by Fat Sam
Harvest is a cooperative farming society. It automatically farms the highest yield in DeFi. So I won't have to keep track of all new DeFi projects. But I think, they are distributing only 5% of the profit to FARM holders ...I need to check that again as that looks very low. But whatever that is, nothing bad in getting some free FARM tokens!
Harvest Finance's governance token FARM is already a day old now and its price has reached under $250 for the fist time. Whole market seems to be crashing down, so most prices seems very reasonable today. However, I don't have any money to invest in it. Therefore, I decided to harvest my SUSHI yield.
If you too are farming SUSHI then in my opinion, those SUSHI are sitting idle until the SushiSwap Exchange launches and you earn some share of trading fee. Since SUSHI token was voted up to be included in Staking at Harvest, you can just deposit your harvested SUSHI to earn some FARM rewards.
Not bad, na?...err, it only appears like that.
When I tried, I couldn't! I made 2 transactions to harvest my SUSHI but unfortunately both of them abruptly failed in want of more gas. I've wasted over $20 in failed transactions. I've always used the recommended Gas limit and input twice the auto-filled GWEI by Metamask wallet. Still, transactions failed.
May be, I'm feeling too sleepy at the moment and messed up a little. I should have put more gas ..and muster up some more courage for it.
May be, tomorrow. But I just wanted to share this as you guys can do it, if you don't want your SUSHI harvest to stink.
Happy FARMing!