What is GRAIN token

In Harvest Finance, GRAIN is a buyback token for USDC/USDT depositors that feeds a percentage of total weekly emissions to reparations pools. GRAIN was voted in by the community shortly after the attack. The community voted for up to 0.5% of total emissions to go to GRAIN buyback and Uniswap liquidity.

🚢 Over the last few weeks and weekends, we’ve been shipping updates to the core protocol and forming important partnerships in our mission to continue providing the best yielding opportunities for all our humble farmers. For example, we recently partnered with Badger and APYVision. During this period, Harvest deposits have successfully grown and recovered to over $550m in Total Value Locked.

💶 We are also devoting a significant amount of energy to carve out and build the path forward for reparations to users who were affected by the economic exploit that occurred a few weeks ago. This ensures that we can put the exploit behind us to continue on our path of growth and bountiful yields.

💻 We’re proud to announce that** the claims portal will go live on Monday, the 7th of December.**

We are helping previously affected users recover their balances through a blend of USDC/USDT reparations and the GRAIN token. $2.4m was returned by the attacker to the deployer contract. This will reduce the drawdown from 15% to ~13.5%.

In addition, the GRAIN token will entitle holders to 0.5% of total weekly emissions, in the form of GRAIN buybacks and GRAIN liquidity incentives.

Users whose balances were affected by the drawdown due to the economic exploit a few weeks ago will be able to receive their claim for USDT, USDC and the GRAIN token, starting Monday the 7th of December.

Based on the snapshot taken one block before the attack, we’ve calculated the claim amount for each user using the logic here:

https://github.com/harvest-finance/snapshot.

👇 Read on for further details on how GRAIN works and how to use the claims portal.

🌾 How GRAIN works

🌾 GRAIN is a buyback token for USDC/USDT depositors that feeds a percentage of total weekly emissions to reparations pools. GRAIN was voted in by the community shortly after the attack. The community voted for up to 0.5% of total emissions to go to GRAIN buyback and Uniswap liquidity.

🚜 In the spirit of the farming cooperative, the dev and ops funds will contribute towards FARM used for the GRAIN buyback. 10% of the buyback amount will come from the ops fund, and 20% will come from the devs. The remaining 70% will come from farming incentive emissions.

🗳️ The community also voted for incentivizing GRAIN/FARM as the base pair. Incentivizing GRAIN/FARM would be beneficial because it would create a FARM supply sink, while at the same time giving GRAIN holders who also own FARM the ability to get more FARM emissions by staking in Uniswap.

💱 This gives a market value to GRAIN, by using some emissions to incentivize a liquid market. After much discussion with knowledgeable horticulturalists, creating a liquid market is the preferred option, because it allows GRAIN holders to trade with buyers that are interested in the APY of GRAIN farming instead of only having the option to hold for many months or years.

🏦 We will also be using the strategic reserve for strategic GRAIN buybacks as needed to buffer price volatility. The following amounts have been saved up for this purpose:

Week 12: 1,798.98 FARM
Week 13: 658.95 FARM
Week 14: 465.3988850 FARM

💵 How to claim USDC and/or USDT

You can claim your pro-rata share of the $2.4m pool of USDC/USDT from Monday, December 7th through the following steps:

Go to https://claim.harvest.finance
Connect your Metamask.
Press ‘Claim USDC’ and ‘Claim USDT’ and follow Metamask to complete the transaction

🌾 How to claim GRAIN

You can claim your pro-rata share of the GRAIN token from Monday, December 7th through the following steps:

Go to https://claim.harvest.finance
Connect your Metamask.
Press ‘Claim GRAIN’ and follow the steps.
Add GRAIN to Metamask by clicking the link given on the page. You will then be able to see GRAIN in your wallet.

💱 Trading GRAIN

🌊 We will be launching an incentivized Uniswap pool with GRAIN/FARM as the base pair.

🗓️ The incentivized Uniswap pool will be announced on our Discord and Twitter on Monday, December 7th.

🌾 The pool will be kickstarted using GRAIN bought by the operations fund.

⏰ Claims will begin around Monday, 17:00 UTC and liquidity incentivization will begin 8 hours later, to make sure that there is sufficient GRAIN available for the operations fund to buy and deposit into the Uniswap pool for an orderly market to form, before turning on the rocket boosters.

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