October 6th, 2021 at 2:01 pm UTC · 5 min read
UniFarm, a DeFi-backed decentralized farming pool, allows users to stake their bitcoin holdings and earn up to a 250 percent annual percentage return (APY). It is a farming strategy in which blockchain projects work together to create a reward pool. Users may stake any token and get a large number of tokens in return. Staking cryptocurrency is a process in which crypto assets are committed to the upkeep of blockchain networks and the validation of transactions. In the UniFarm idea, the business does not charge customers, but rather the projects and blockchain networks that are linked.
The current crypto farming methodology is very complicated, and regular investors are unable to benefit from this fascinating opportunity that has the potential to provide extremely significant returns. UniFarm streamlines the whole farming process by providing one-stop purchasing. You just need to stake one token to farm the rest. It aids in the generation of a passive source of income as well as the diversification of your assets.
UniFarm exposes buyers to a diverse range of tokens while also offering a very competitive APY. To create a pool, a collection of projects contribute their native tokens with the OpenDefi native token ORO. Users will then be able to stake any of the tokens included in this pool and earn weekly payouts for all five tokens in the pool.
This fascinating new idea enables users to earn popular tokens without directly investing in them, giving investors a new way to diversify their portfolios and opening up a whole new avenue for wealth growth. Users will be able to unstake at any time on the platform while the protocol is in testnet mode, but their staking clock will be reset to zero as a consequence.
UniFarm reduces the need for DeFi farmers to use several platforms at the same time in order to benefit from the yield of different tokens by enabling users of the platform to farm multiple tokens in one place with exposure to just a selected selection of tokens.
UniFarm pioneered the token farming pool idea, attracting $25 million in total value locked (TVL) and allowing users to earn up to 250 percent APY while farming numerous tokens by staking just one of the participating tokens. This idea of staking one token and farming all the others have really taken hold, with communities seeing the benefit of varied yields and participating businesses seeing value in forming cohorts with some of Blockchain’s biggest brands. Matic, Reef Finance, PAID Network, Frontier, Nord Finance, Router, Terra Virtua, and other startups have previously participated in UniFarm cohorts. The last cohort ended with more than $1 million staked in 15 minutes, indicating that the previous cohort was in high demand.
The fundraising drive coincides with the launch of UniFarm’s official governance token ($UFARM), which will be used across the network and will allow users to gain additional advantages by staking the token in premium pools. UniFarm is currently cash-flow positive, with half of the future profits scheduled to be used to buy back UniFarm and ORO tokens and lock them in for a year. Half of UniFarm’s total supply of 1 billion will be used for farming on the platform.
The UniFarm token is seeing a price rise that may drive it to $0.1 and beyond. If the bulls prevail, the currency may hit new highs. Prior to the current price spike, the UniFarm pricing chart shows a steady build-up in quantities.
UniFarm has secured a $2 million investment from notable blockchain companies such as AU21 Capital, LD Capital, Rarestone Capital, Morningstar Ventures, NGC Capital, Alphabit, Moonwhale Ventures, Acheron Capital, Zokyo Ventures, and others.
Mohit Madan, CEO, and Co-Founder of UniFarm, says:
“Following strong demand in our early cohorts, we are pleased to provide continuing optimal farming for token holders wanting exposure to several DeFi projects in one pool. Our goal is to reach $100 million TVL by the fourth quarter and to continue helping projects in managing their communities via the benefits offered by UniFarm. Increased exposure, reduced sell pressure, and, most importantly, the creation of long-term holders and value for Defi projects are among them.”
UniFarm is the DeFi sector’s first platform of its kind, showing the community’s willingness to participate in farming techniques that are easy to adopt and reliable. UniFarm will launch its governance token via an Initial Dex Offering (IDO) on Poolz, LaunchPool, and Duckstarter. Details regarding the IDO public auction will be made available soon. UniFarm’s 24th cohort is set to go online on October 1, 2021.
Tarusha Mittal, the platform’s co-founder and chief operating officer, said:
“At UniFarm, our aim is to help DeFi appeal to the people by being simple, smart, and delivering tremendous value.”
Mittal and his co-founder, Mohit Madan, identify themselves as long-term serial entrepreneurs in the blockchain sector, having both been in the industry for more than a decade. They co-founded one of India’s first Ethereum exchanges in 2015, and they now have a massive project in the form of OroPocket, UniFarm’s parent company, and another project called OpenDeFi.
The UniFarm ($UFARM) token just rose by 80% as of September 22nd, 2021. The UniFarm token had climbed to $0.05, and if the current price trend continues, the currency may soar much higher. The coin’s volume gradually grew, driving prices beyond the $0.02 mark. If the bulls decide to raise prices in the near future, the $UFARM token may be worth 2X or 5X. The currency is also volatile enough to attract short-term traders.
UniFarm is the most popular decentralized farming pool of major DeFi projects, where users may stake any participating token to farm all the others and earn up to 250 percent APY. Purchase $UFARM right now!