# FARM token
In order to provide incentives to yield farmers using the Harvest platform, the `$FARM` token was released when Harvest (formerly known as Harvest Finance) launched on [September 1st, 2020](https://medium.com/harvest-finance/the-harvest-finance-project-338c3e5806fc). The token was launched without any premining, presale, venture capitalist, or investor funds, with 0 circulating supply at launch. Tokens were never sold at ICO / TGE or any kind of fundraising venture.
The FARM token is emitted on a weekly schedule over a four-year period from its launch date. Below is a breakdown of token emissions:
* 70% of the FARM tokens will be utilized as rewards for liquidity providers, liquidity provisioning on decentralized marketplaces, market-making services across exchanges, and for the creation & ongoing maintenance of any deployed strategies (Including any payments associated with strategy development). New emissions details are released weekly on the [Medium](https://yogafire-genuine.medium.com/) blog or Official Discord server.
* 10% of the FARM tokens will flow to the [Operational Treasury](https://etherscan.io/address/0x843002b1d545ef7abb71c716e6179570582faa40) to pay for contributions to the maintenance of the protocol, including community contributor rewards and business operation expenses, including any legal fees to support Harvest operations and/or its contributors.
* 20% of the FARM tokens will flow to the original founding [Development Team](https://etherscan.io/address/0x49d71131396f23f0bce31de80526d7c025981c4d).
The specific weekly distribution of incentives is monitored by the community contributor team with the goal of providing the greatest benefit to liquidity providers and FARM token holders.
### Supply
In Week 5, FARM holders [voted overwhelmingly](https://medium.com/harvest-finance/week-5-the-power-of-69-6c8346ec3d8d) to cap the maximum supply to **690,420** tokens by reducing the emissions of tokens by 4.45% every week until week 208 (27 August 2024) which is exactly 4 years from launch. As a result, token emissions were set to follow this curve:
At [07:46 PM UTC on September 6, 2024](https://etherscan.io/tx/0x8266d0ba33968684ff3474d26b7944457e86b607abf7ae165e3886559ef92104), the last FARM was officially minted and [emissions ended](https://medium.com/harvest-finance/the-end-of-farm-emissions-what-it-means-whats-next-32b51c898ce5).
### Notes on maximum supply
`$FARM` was launched with a hard-coded maximum supply of 5,000,000 tokens which would be minted over the course of 4 years.
In this initial period, it was noted that emissions were higher than needed for the growth of the project. As a result, a total of 14,870.23 `$FARM` tokens were burned irretrievably to [0xffffffffffffffffffffffffffffffffffffffff](https://etherscan.io/token/0xa0246c9032bc3a600820415ae600c6388619a14d?a=0xffffffffffffffffffffffffffffffffffffffff) to decrease the total circulating supply. Considering this amount to the maximum circulating amount of 690,420 `$FARM` is 705,290.23 `$FARM` which could be verified through the [totalSupply amount in the smart contract](https://etherscan.io/readContract?m=light\&a=0xa0246c9032bc3a600820415ae600c6388619a14d\&n=mainnet\&v=0xa0246c9032bc3a600820415ae600c6388619a14d#readCollapse11) of `$FARM`.
All `$FARM` tokens circulated in L2 networks are all bridged tokens from the Ethereum mainnet and are not tokens minted over the 690,420 cap.
### Governance
The FARM token was also used to determine voting power in Harvest governance proposals when originally launched. The snapshot governance page can be found here: .
Today the Harvest protocol has moved away from formal voting and instead comes to consensus through contributor proposal and discussion. **The FARM token does *****not***** give holders a vote on incentive distribution, strategy deployment/updates, addition/removal of vaults, etc.** When voting is utilized, it is used for higher-order strategic decisions, such as the above mentioned supply reduction.
### Spot Trading
`$FARM` is available for trading on several centralized and decentralized exchanges:
**Centralized Exchanges**
[Binance](https://www.binance.com/en-GB/trade/FARM_USDT?ref=37754157\&type=spot), [Coinbase](https://www.coinbase.com/advanced-trade/spot/FARM-USD), [Crypto.com](https://crypto.com/exchange/trade/spot/FARM_USD), [Kraken](https://pro.kraken.com/app/trade/farm-usd) and many more
**Decentralized Exchanges**
[ETH - Uniswap](https://app.uniswap.org/swap?inputCurrency=ETH\&outputCurrency=0xa0246c9032bc3a600820415ae600c6388619a14d\&chain=ethereum), [BASE - Aerodrome](https://aerodrome.finance/swap?from=eth\&to=0xd08a2917653d4e460893203471f0000826fb4034), [BASE - Uniswap](https://app.uniswap.org/swap?inputCurrency=ETH\&outputCurrency=0xd08a2917653d4e460893203471f0000826fb4034\&chain=base)
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