The Founder’s Perspective on The Future of Farming

UniFarm proved to be not only a bright but also a significant start to the month.

5 of the finest and most trustworthy projects joined together, joining forces to be a part of the project’s enormous success – UniFarm.

For those who were unable to attend this important event, here is a short recap of what founders think about the future of farming.


UniFarm is a great place to stake your assets and get the highest APY. We gathered the finest projects from the ecosystem to build a farming solution unlike any other.

In UniFarm, you invest one token but have the opportunity to farm MANY with up to 250 percent APY!

The platform’s goal is to provide investors with a dependable method to stake their holdings and earn a high income in return.

The Benefits of Staking on UniFarm

  • The UniFarm Pool lasts for 90 days.
  • The total prize pool size is $50,000, with $10,000 allocated to each project.
  • Tokens worth $100,000 may be staked per project.
  • Users may stake one or more of their token holdings.
  • Users have the option to un-stake at any moment. Un-staking resets their clock to zero.
  • Users will get a minimum APY of 40% and a maximum APY of 250% depending on how long they remain staked.
Future of farming

UniFarm Project

UniFarm was a collaborative triumph that brought together five of the finest projects in one place. 

It was a collaborative effort that reverberated throughout the internet and had a positive outcome.

The 5 of the most trusted projects include –

  1. Matic Network
  2. Reef Finance
  3. Centaur
  4. Frontier
  5. OpenDeFi

We had a great experience having them as part of UniFarm Cohort 1. We then asked these founders a few questions to get a better understanding of their various perspectives on the industry.

In this post, we shall get insights about the DeFi landscape from the founders of these four incredible teams, including:

  1. Frontier’s co-founder: Palash Jain
  2. Centaur’s co-founder: James Hong 
  3. Matic Network’s Marketing Lead: Arun Philips
  4. Reef Finance’s co-founder: Denko Mancheski

So, without further ado, let’s get started.

Future of Farming: Questions with the Founders

Q1. 2020 was the year of decentralized finance. Despite the concerns about COVID-19, DeFi dominated the discussion for most of the year. According to the Total Volume Locked indication, DeFi has grown by approximately 2000% since January of last year. So, what’s next? What DeFi trends may be expected in 2021?

Palash Jain, Co-Founder Frontier

For DeFi, 2020 has been akin to “Price Discovery.” The launch of $COMP and yield farming triggered a wave of Liquidity Mining/Yield farming, and many other initiatives followed suit. This aided procedures in obtaining larger TVL in a short period of time as well as exposure. Strong incentive plays. 2021 will be about figuring out what we can do differently in DeFi rather than duplicating traditional finance.

I am certain that L2s, NFTs, Option protocols, and user-facing solutions will be popular in 2021.

James Hong, Centaur Co-Founder

This year has seen an increase in institutional acceptance of cryptocurrencies as well as a surge in DeFi solutions focusing on financial products, most notably a rise in decentralized insurance, derivatives, and aggregators. These platforms are significant indications of maturity in the DeFi sector, as conventional players see the benefits of blockchain technology and cryptographic assets, while cryptocurrency aficionados get access to solutions that align with their decentralized ethos. The future market trends are very much in line with Centaur’s aim of serving as a bridge between DeFi and CeFi.

Arun Philips, Marketing Lead Matic Network

What matters most for DeFi protocols is composability, and I think that since L2 is 100% EVM compatible, this composability is carried over to L2.

The second key issue for DeFi protocols is gas fees: harvesting, staking, opening, and shutting vaults are all highly gas-intensive activities in DeFi contracts.

We’ve already seen users push for L2 versions of popular Ethereum DeFi protocols, and we’re sure that 2021 will be the year when a large number of DeFi protocols migrate to L2.

Q2. Farming has lately gained popularity, and many individuals have earned good profit from it. However, some people found it difficult to participate. So, should we expect to see more automated yield farming options to make things easier for newcomers?

Palash Jain, Co-Founder Frontier

Farming is a costly business. When it comes to protocols/AMMs that allow farming on Ethereum, it is almost difficult for tiny purses to participate. Interaction with SC (Smart Contracts) may cost hundreds of dollars in gas costs. The barrier may be removed by having:

  1. A stable APY throughout the farming time
  2. A farming solution that allows users to receive various asset returns or a vault-like approach.
  3. Protocols’ usage of Chi tokens as a default.

James Hong, Co-Founder Centaur 

As the industry matures, it is probable that a greater emphasis on excellent design concepts centered on user interface and user experience will really show through. Aggregators and automated farming platforms are seeing fast growth as a result of the inflow of new users, which I believe is a step in the right direction for the sector. However, striking a balance between simplicity and decentralization is always essential, since certain critical tasks, such as the need for permission prior to staking, remain core to DeFi solutions.

Arun Philips, Marketing Lead Matic Network

Yes, users with modest holdings cannot afford the $100 stake and unstake costs.

The way Aavegotchi delayed their Ethereum launch for Matic is a wonderful illustration of how Dapps can develop for their customers while saving a lot of money in fees.

  1. Integrations with Biconomy that do not need the use of gas
  2. Gamified Interfaces with Low-Fee/Auto Compounding and Harvesting

These are some ideas for attracting more entry-level users.

Q3. How can current DeFi Farming solutions be improved to increase uptake, in your opinion? What else would you want to see in future farming solutions?

Palash Jain, Co-Founder Frontier

  1. Stable APY over the farming period
  2. Max cap per address to stake
  3. Have a farming solution that allows customers to get various asset yields or a vault-like approach.
  4. Protocols use Chi tokens by default.
  5. Move projects to L2s or other chains where they can deploy dApps as quickly as feasible.

James Hong, Co-Founder Centaur 

As I see it, the UniFarm effort is a watershed moment for the industry, in which projects cooperate and use the assets of their respective networks and communities, while generating value for all parties involved. There is certainly an opportunity for improvement here, and I am confident that UniFarm will continue to grow and develop with each iteration.

Arun Philips, Marketing Lead Matic Network

  1. Finding fresh projects that are neither scams or rug pulls.
  2. Ease of use, auto harvesting, compounding, and so forth.
  3. Fiat on-ramps and off-ramps to Layer 2s such as Matic, resulting in an almost $0 gas fee from Fiat to Staked Position.

Q4. How did your participation in UniFarm Cohort 1 go, and how did your community react?

Palash Jain, Co-Founder Frontier

First and first, kudos to the OpenDeFi Team for creating UniFarm; the concept is unique in and of itself. When the OpenDeFi team first mentioned UniFarm, I thought to myself, “wow, this is fantastic.” Frontier was one of the initiatives, which also included Matic Network, OpenDeFi, Reef Finance, and Centaur.

When we revealed that $FRONT will be a member of the UniFarm Staking pool, the Frontier community was ecstatic. When the farm went well, the $FRONT pool was full in a matter of hours, demonstrating the community’s involvement. In summary, the community is pleased and has shown active involvement in UniFarm.

James Hong, Co-Founder Centaur 

It was a true privilege to be a part of something groundbreaking.

Arun Philips, Marketing Lead Matic Network

Our community gave us an amazing reaction! The idea of farming five tokens by staking one token is unique, and our community is excited about the forthcoming cohorts.

Q5. Where do you see Yield Farming heading in the next years?

Palash Jain, Co-Founder Frontier

Yield farming in its present form requires many upgrades. It has shown how simple it is to bootstrap a community and expand TVL in a short period of time with strong incentives to play, but this also makes it more of a whale game than a retail-friendly game. As more projects recognize the pain issues, they will move to L2s or other chains with liquidity, better developer tools, simple migration of dApps from one chain to another (say, EVM compatible chains), and network effects such as BSC and Polkadot.

James Hong, Centaur Co-Founder

As projects understand the benefits of collaborative staking campaigns, there will most likely be a rise in joint-staking initiatives. Platforms such as UniFarm may also be implemented on other protocols to optimize incentives, improve accessibility for non-ERC20 tokens, and reduce the effect of gas costs.

Arun Philips, Marketing Lead Matic Network

Non-whale friendly farming! Yield Farming is already including features such as low gas costs, auto compounding, and harvesting.

Composability will be an important element in successful DeFi protocols, and we anticipate a robust DeFi + NFT cooperation.

Future of Farming: Conclusion

It was great to have these brands on board for this one-of-a-kind project of the year. The major players have a clear vision for the DeFi landscape, and they have contributed significantly to the ecosystem. UniFarm cohort 18 is on its way. So remain tuned so you don’t miss out on anything!

One thought on “The Founder’s Perspective on The Future of Farming

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