UniFarm
UniFarm is a decentralized farming pool of DeFi’s top projects[1], founded in February 2021. Valued over $50 million as of September 2021, it is one of the largest decentralized farming pools and one of its kind “stake one, farm many” pools in India.
A bunch of good quality projects come together to create a reward pool at UniFarm. Token holders of any of these projects can stake one token and get all tokens as rewards with a minimum guaranteed APY with an unstake at any time option. Per project tokens worth $100K can be staked in UniFarm with a total prize pool of $10K per project where users can get a minimum APY of 36% which is variable with different pools and a maximum APY of 250%. UniFarm raised a $2 million investment[2] from leading blockchain funds including AU21 Capital, LD Capital, Rarestone Capital, Morningstar Ventures, NGC Capital, Alphabit, Moonwhale Ventures, Acheron Capital, Zokyo Ventures, and more.
History
UniFarm[3] is a multi-token reward staking program in which a number of projects collaborate to form a reward pool. Stakers may wager any token and get numerous tokens in return. Users get a minimum APY and there is no market exposure. Investors get a decent APY as well as a slew of reputable project tokens as a return, with no market exposure concerns. Projects get additional investors and have their tokens staked, allowing them greater space to build and flourish.
UniFarm partnered with over 20 startups and reputable businesses shortly after the launch to grow, and so started the development path of OpenDeFi[4] and the introduction of its governance token $ORO. It came up with solutions to common problem statements of raising money and having no actual value to a token and went out to experiment. UniFarm ran their first cohort using $ORO, $MATIC (now Polygon), $REEF[5], $CNTR, and $FRONT. This experiment was a tremendous success, with users locking in $500,000 worth of tokens in only a few hours. According to the plan, UniFarm has been successful in collecting a total value locked (TVL) of $10 million or more. The future scope in the roadmap involves strengthening the project's technical end as well as adding additional use cases for the token while making a good impact on the DEFI ecosystem.
Value Proposition
UniFarm is the first platform of its type in the DeFi[6] sector, demonstrating the community's desire to engage in farming methods that are simple to implement and dependable. UniFarm has performed an Initial Dex Offering (IDO) on Poolz, LaunchPool, and Duckstarter to debut its governance token.
The advantage of farming with UniFarm is that users are guaranteed a minimum annual percentage yield (APY) to the user/investor. This benefits both investors and projects joining the UniFarm cohort[7] since greater APYs result in increased demand for the token. Stakeholders' incentives are given in stages, where a user may receive the yield in one token (first phase) and then get all the tokens later on.
UniFarm's unique concept of allowing numerous tokens distinguishes it from other DeFi initiatives. In the case of projects, UniFarm assists in the development of a staking utility for their token. Apart from that, UniFarm helps sustain a token's high demand by raising or lowering the token's APY depending on supply and demand. This maintains investor interest in the project's token while simultaneously providing an incentive for them to invest. Users can un-stake anytime, however, un-staking will reset their clock back to zero. The total reward pool size is $50k, with $10k per project and per project tokens worth $100k can be staked. UniFarm[8] incentivizes users who stay longer on the platform. The system has an inbuilt compounding gamified framework - The longer you stay in, the more benefits you compound.
Token
The project's native token is $UFARM[9]. UniFarm has added a lot of value to this coin by including traditional DeFi tools in it. The most notable use case is governance, which implies that $UFARM token holders may vote on any protocol level modifications in the project. Aside from that, $UFARM is a token in all major pools. As a result, the $UFARM coin may also be used for staking on the platform. UniFarm is completely decentralized and does not charge any staking and unstaking fees, users only have to pay for gas fees.
To ensure supply consistency, 50% of the $UFARM tokens are allocated for farming and will be made accessible in the farming pools[10] over time. Aside from that, to guarantee scalability and the absence of external financial constraints, the project employs a 'buy-back & lock' strategy in which 25% of the cost paid by projects to join pools or cohorts is utilised to purchase back tokens. These $UFARM coins are then locked on the blockchain for a period of 12 months. Following this time period, the tokens are transferred to the project's treasury, which is designed to grow and support the project in the long term.
Investors
- Acheron Capital Ltd
- Acuity Capital
- Blocksync Ventures
- Chronos Ventures
- Okex
- Genblock Capital
- trueInfluence
- Zokyo
- NGCVentures
- Morningstar
- AU21
- Playcent
- Moon Whale
- Rarestone Capital
- Faculty Capital
- Spark Digital Capital
- 18 Ventures
Projects
69 marquee projects have deployed UniFarm’s solution which includes the likes of billion-dollar market caps like Polygon, Reef etc.
- Matic
- Reef
- Centaur[11]
- Frontier
- Nord Finance
- Router
- Terra Virtua[12]
- Zeroswap
- Paid[13]
- Plot
- Royale
- Mantra Dao
- Playcent
- HAPI
- Apyswap
- Multiplier
- YellowRoad
- JulSwap
- RioDeFi
- PolkaCover
- Umbrella
- Unido
- Cook[14]
- Polkaloki
- Quai Dao
- Dehive
- ArGo
- Bonfi
- ForTube
- Collateral
- OpenDeFi
- Polkally
- Idavoll Network
- ispolink
- Chromia
- BUSD
- Razor
- StackOS
- netvrk
- easyfi
- Elk.finance
- bluzelle[15]
- Ferrum Network[16]
- RAZE Network[17]
- wsbdapp.com
- Gamyfi Platform
- TeraBlock
- SingularityDAO[18]
- Peanut
References
- ↑ "UniFarm Raises $2 Million After Launching Innovative Farming Pool Featuring 17 Top DeFi Projects - Block Inventory". 2021-04-12. Retrieved 2021-09-13.
- ↑ "UniFarm Raises $2 Million After Launching Innovative Farming Pool Featuring 17 Top DeFi Projects - Block Inventory". 2021-04-12. Retrieved 2021-09-13.
- ↑ UniFarm (2021-04-29). "From the Team that Brought People Oropocket - UniFarm, One Farm to Rule Them All". GlobeNewswire News Room. Retrieved 2021-09-13.
- ↑ "From the Team that Brought People Oropocket - UniFarm, One Farm to Rule Them All". finance.yahoo.com. Retrieved 2021-09-13.
- ↑ Aniky, Princess (2021-02-01). "UNIFARM — One Farm To Rule Them All || Matic Network || Reef Finance || OpenDeFi by Oropocket ||…". Medium. Retrieved 2021-09-13.
- ↑ "Terablock's TBC Holders Can Now Earn Five DeFi Assets Through Staking On UniFarm". CryptoGlobe. Retrieved 2021-09-13.
- ↑ "SpaceSwap and UniFarm Unite for Upcoming Cohort 19 from 10th August at 13:30 UTC". Live Bitcoin News. 2021-08-10. Retrieved 2021-09-13.
- ↑ "UniFarm | One Farm to Rule Them All". OroPocket. 2021-01-28. Retrieved 2021-09-13.
- ↑ "UniFarm (UFARM) - All information about UniFarm ICO (Token Sale)". ICO Drops. 2021-04-15. Retrieved 2021-09-13.
- ↑ "UniFarm Announces $2M Raise to Expand Token Farming Pools and Governance". Coinspeaker. 2021-04-12. Retrieved 2021-09-13.
- ↑ Editor, Centaur (2021-01-28). "Introducing UniFarm — A Unique Way To Farm Multiple Tokens Through Centaur". Medium. Retrieved 2021-09-13.
- ↑ "Terra Virtua Announces a Farming Collaboration with UniFarm!". Terra Virtua Blog. 2021-02-10. Retrieved 2021-09-13.
- ↑ NETWORK, PAID (2021-03-05). "PAID Network joins Unifarm's Cohort 3 Farm pool". Medium. Retrieved 2021-09-13.
- ↑ Cook (2021-05-05). "Cook partners with UniFarm to join their 7th staking pool Cohort". Medium. Retrieved 2021-09-13.
- ↑ Bains, Pavel (2021-06-18). "Bluzelle Joins UniFarm Cohort-13, fuelling possibilities for $BLZ Holders". Medium. Retrieved 2021-09-13.
- ↑ Chijioke, Peter (2021-07-15). "Ferrum Network Seals Strategic Partnership with UniFarm". Smart Liquidity Network. Retrieved 2021-09-13.
- ↑ Network, Raze (2021-06-25). "RAZE Available on Polygon in Collaboration with UniFarm — #UniFarmCohort13". Medium. Retrieved 2021-09-13.
- ↑ "SingularityDAO in Pact With Unifarm". www.cryptonewsz.com. Retrieved 2021-09-13.
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