Harvest Finance

Rejected venues wait the longest for re-review; a rejection has to earn another look before the scheduled date.

Harvest Finance issues vault shares whose strategies deploy deposits into third-party lending, staking and liquidity venues, while Autopilots dynamically reallocate among Harvest vaults. The DefiLlama protocol API read on 2026-08-15 reported about $15.0M across Base, Ethereum, Arbitrum, Polygon and zkSync Era. The shared v1 delegated-allocation dossier controls because the client inherits the selected venues and strategy changes without retaining the advisor’s direct allocation control; this is not a judgment about Harvest’s implementation quality.

Kill criteria: the events that revoke this verdict
• Offers a product with an immutable advisor-selected venue allowlist, enforceable allocation limits, continuously verifiable per-venue positions, and no manager substitution

The research file

Mechanism applicability

Harvest documents vaults that issue transferable fToken shares and deploy the underlying into one or more third-party protocols through predefined strategy contracts. Strategies collect reward tokens, sell them into the farming asset and redeploy them. Autopilots add a further layer that actively reallocates deposits across Harvest vaults under predefined optimization rules, directly establishing delegated venue and strategy selection.

Current observation and look-through

The DefiLlama protocol API read on 2026-08-15 reported approximately $15.0M of Harvest TVL: about $10.7M on Base, $3.7M on Ethereum, $0.5M on Arbitrum, $0.08M on Polygon and a small zkSync Era balance, plus separately categorized FARM staking. Harvest’s current overview still advertises more than 100 strategies spanning lending, staking and liquidity provision. Adapter totals do not reveal a client’s live underlying venue mix.

Control and exit applicability

A vault owner can move underlying funds only into and out of the predefined strategy, and strategy replacement uses a 12-hour timelock. Users burn fTokens to receive proportional underlying, sometimes through a swap that Harvest warns can lose value from market moves; Autopilots state no lockup but may need to exit or reallocate underlying vaults. Timelocks and withdrawal access mitigate control risk without returning venue selection to the advisor.

Why the class rule decides

The shared v1 delegated-allocation dossier controls because Harvest selects or changes the third-party strategy stack that generates the client’s return, and Autopilots explicitly optimize allocation across vaults. Reopen only after a product exposes an immutable advisor-selected allowlist, enforceable allocation limits and continuously verifiable per-venue positions without manager substitution; then review each admitted underlying venue, contracts, incidents, fees, liquidity and stressed exit execution.

Sources

The claims above trace to these. Where a number could not be independently verified, the thesis says so.

• Harvest Docs — current product overview · primary · accessed 2026-08-15
  Supports: yield aggregator, third-party venues, automated strategies, supported chains, current product perimeter
• Harvest Docs — vault mechanism · primary · accessed 2026-08-15
  Supports: fToken shares, third-party strategy, compounding, strategy controls, withdrawal swap risk
• Harvest Docs — Autopilots · primary · accessed 2026-08-15
  Supports: dynamic allocation, vault selection, optimization rules, no lockup, liquidity screening
• Harvest Docs — strategy timelocks · primary · accessed 2026-08-15
  Supports: strategy replacement, 12-hour timelock, user opt-out, deployer control
• DefiLlama — Harvest Finance survey record · secondary · accessed 2026-08-15
  Supports: current TVL, chain distribution, staking breakout, yield-aggregator category

Inherited controls

The verdict above grades the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The least safe layer sets the position’s grade, and the position table names which one that is.