Top Farming-As-A-Service Assets Lose Over 30% This Week Despite DeFi Potential

The DeFi industry has given rise to some intriguing concepts that allow users to pocket a passive income. Farming-as-a-service is an appealing concept on paper, yet it seems interest in these protocol tokens drops off very quickly. The following FaaS assets have all lost over 30% in value recently, which doesn’t bode well for the future. 

Multi-Chain Capital (MCC)

Although the Multi-Chain Capital project is still going strong – depositing Ethereum tokens to farm earnings across multiple protocols and networks is appealing – the value of MCC is not doing too well. It is now over 92% down from the all-time high, primarily due to a 54.7% decrease this past week. Users need $MCC to earn rewards from the protocol’s farming on Ethereum and BNB Chain, yet demand for the token simply isn’t there today. 

Reimagined Finance (REFI)

The purpose of Reimagined Finance is to allocate capital across top DeFi yield farmings, staking, and rebase protocols over multiple chains. Moreover, the REFI token grants access to dividend payouts, governance, and has ongoing reflections. Although the token is rebounding slightly today, it is still down by over 45% this past week. The low trading volume isn’t helping matters either. 

Food Farmer Finance (FFF)

Positioning oneself as a high-yield tokenized DeFi Hedge Fund is a tall order and creates steep expectations. Food Farmer Finance provides numerous strategies for users to maximize their investment and return. FFF Tokens are needed to receive fractionated exposure to the treasury’s performance and access educational services, expertise, and discussion. Like other farming-as-a-service tokens, FFF is down by over 85% from its all-time high and notes a weekly decline of over 42%. FFF Hit an all-time low just a few hours ago. 

Scary Chain Capital (SCC)

Although the name might not be too appealing to fans of farming-as-a-service tokens, Scary Chain Capital leverages Fantom and its DeFi capabilities. Users buy on Fantom and, through the protocol, accrue earnings across multiple chains if they hold $SCC tokens. The concept is nearly identical to Multi-chain Capital, although the weekly decline of -37.1% is slightly more bearable. Unfortunately, the all-time high is 92.4% away, which may be too far to overcome. 

Roaring Twenties (ROAR)

Despite the somewhat unique name for a farming-as-a-service provider, Roaring Twenties seems to be of interest to some users. The protocol has a DAO treasury that acquires network nodes and enables multi-chain farming. Participating in the staking pool on Ethereum can generate revenue from the ongoing node acquisitions and the income it generates. However, the $ROAR token is down by nearly 90% from its all-time high and lost over 33% this week. 

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