Reaper Farm

Yield Aggregator

Reaper Farm is a yield farming aggregator that maximizes user's yields through auto-compounding.

Risk Rating
Watch Out
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
What we like
Reaper is a yield aggregator native to Fantom that maximizes user's yields through auto-compounding.
What we like less
Limited protocol audits and info on multisig setup. Reaper is also not completely decentralized as it relies on Amazon Web Services (AWS) to harvest its vaults.
What it means for you
Offers you a simple user interface to deposit your LP tokens to start maximizing your yield.
Information
Exploit/Hacks
One
Info
  • Website
  • Token: OATH
  • Tags: Yield Aggregator
Key Metrics
  • TVL: $7.5M (Rank #154)
  • TVL Ranking by Yield Aggregator: #12
  • Blockchain: Optimism, Fantom, Binance, Arbitrum
  • Chain TVL
    • Optimism: $5.17M
    • Fantom: $1.73M
    • Binance: $645.85K
    • Arbitrum: $109.41
Risk Assessment
Watch Out
Protocol Code Quality
  • Code reviewed by at least one experienced auditor; Solidity Finance audited in May 2021
  • Anonymous team reduces transparency
  • One mitigated protocol hack since launch
Protocol Maturity
  • Core protocol launched in 2021; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Top 10% by total value locked reduces risk
  • Multisig wallet controls protocol upgrades
  • Multisig requires only one signer (EOA wallet) which implies the protocol is highly centralized as control resides with just one admin
  • Timelock is at least 48hrs, which provides users with sufficient time to exit if any malicious upgrades are approved
  • No governance token and/or contracts are fully immutable
Protocol Design
  • No death spiral concerns
  • This protocol is susceptible to risks related to yield optimizers which deploy custom strategies to automatically manage user funds
Things to know about Reaper Farm

How Reaper Farm works

Reaper is maintained by Byte Masons, a development collective specialized in DeFi security and ventures. When you deposit LP tokens into a Reaper Crypt, it will start to auto-compound your returns to maximize yield. This auto-compounding feature is performed by a Reaper harvest bot. Each Reaper Crypt is comprised of two smart contracts: a Vault contract and a Strategy contract. The Vault contract manages all deposits and withdrawals for all Crypt assets. The Strategy contract handles all transactions; it sells the rewards farmed from your deposits, swaps it for more LP tokens, and re-deposits them into the Vault contract. All gains remain in the Crypt and continue to auto-compound until the user withdraws.

How Reaper Farm makes money

The fee structure on Reaper differs between single-strategy and multi-strategy Crypts. Single-strategy Crypts take a 4.5% fee on the profit earned on each harvest and a 0.1% fee on all withdrawals. Of the 4.5% profit fee, 4.05% is sent to the treasury and 0.45% is paid to the user who called the harvest function. Some select Crypts may also have deposit fees but this will be displayed as a warning on the Crypt panel. Multi-strategy Crypts take a 10% fee on the profit earned on each harvest. There is no withdrawal fee.

How you make money on Reaper Farm

You generate yield by depositing your LP tokens in a Reaper Crypt. These strategies generally involve depositing the underlying assets to third-party DeFi platforms to earn protocol fees and rewards. Your yield can come from lending interest, trading fees, staking rewards, as well as savings on transaction fees from socializing gas costs across all pool depositors.