UniFarm is a DeFi mining aggregation platform that supports users to earn multiple token rewards with one token. UniFarm was founded by the OpenFinance (OpFi) team. OpenFinance was developed by the precious metal investment platform OroPocket based on the Ethereum sidechain expansion scheme MaticNetwork. A financial technology agreement.
UniFarm works like a normal staking scheme, with one difference - instead of getting just one token (usually a staking token), UniFarm distributes rewards in the form of multiple tokens.
A total of five projects were involved in the first version of UniFarm. These projects are – OpenDefi (ORO), Reef Finance (REEF), Matic Network (MATIC), Frontier (FRONT) and Centaur (CNTR).
How it works
UniFarm brings together a series of projects to create reward pools. Token holders of any of these projects can stake their tokens to receive all project tokens as a reward.
For example, consider a group with the following items: $ORO, $RAZOR, $PAID, $OM, $ROYA, and $PLOT. Users can stake any token and receive all rewards.
If you bet $OM, how the reward sequence will work:
Week 1: You will be rewarded with $OM.
Week 2: You will be rewarded with $OM and $ORO.
Week 3: You will get $OM, $ORO, $RAZ
Week 4: You will receive $OM, $ORO, $RAZOR and $ROYA as rewards.
From Week 5: You will be rewarded with $OM, $ORO, $RAZOR, $ROYA and $PLOT.
1.Stake ONE, Farm many tokens
Unlike traditional farming where you stake a token and get the same token, on UniFarm you stake a token of your choice and get a bunch of good project tokens. This means that returns are automatically diversified. We thoroughly review projects before adding them to the queue to maintain the integrity of the platform.
2. Minimum guaranteed APY
Each queue of UniFarm has its own APY limit. This allows stakers to ensure good returns on their tokens.
3. Completely decentralized
When users stake on UniFarm, they interact directly with smart contracts using their own custodial wallets (e.g. MetaMask, Coinbase, Trust Wallet, etc.). Decentralization eliminates single points of failure and provides users with confidence and security. To ensure complete security, we regularly audit our contracts.
4. Easy to use
Most DeFi applications out there are too complex to scale for the masses. UniFarm offers a simple user interface and great user experience with one-click staking and unstaking facilities.
5. Farming in one area
Users no longer need to go to various platforms or exchanges to farm different tokens. UniFarm enables them to farm tokens in one place. At the time of writing this white paper, UniFarm currently supports the farming of 17 top DeFi projects.
Total Supply: 1,000,000,000
Shrink: repo and lock
UniFarm collects fees from projects that join the group. 25% of this fee will be used to buy back $UFARM tokens and lock them on-chain for 12 months.
This not only ensures a stable contraction, but also provides the stability needed for expansion.
After 12 months, the tokens will be transferred to the treasury. Unlike the traditional startup world, where there are Series A/B/C/D rounds available for scaling, we need to ensure adequate funding to effectively scale the token economy. This ability is provided to us by locking tokens and then transferring them to the vault.
50% of $UFARM tokens are reserved for farming. This is how $UFARM is made available to various groups. This will ensure a stable supply of tokens over time.
An expanding economy will help us prevent any massive price swings or pump and dumps.
How to participate
1）Open the Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)) wallet and switch the network to Polygon;
2）Click [Browser], enter [UniFarm] in the search box, and click the search result;
3）Browse the Dapp information and click [Confirm] to enter the platform homepage;
4）Swipe to browse the pledge income of different projects, select a project, click [Stake], enter the amount of pledge, and confirm the pledge.