Future Of Farming: Need For Better Solutions
UniFarm has had an incredible run so far. In a little over 10 months, we’ve had $35 Million crossed in All-Time Value staked on the platform. 90+ partners including projects such as Polygon, PAID Network, JulSwap, Razor Network, and many more have joined, and the feedback from the DeFi community at large has been fantastic, made clear by the holders of $UFARM increasing day by day. Tokens such as $ORO, $FRONT, $UMB, $HAPI, and many more have been staked, and users have reaped insane APYs such as this user who earned 6716.505% APY.
We thought we’d write an article to look back at WHY the market has responded in such a positive way, and why we think this is only the beginning—not just for UniFarm but Staking and Farming in general.
Today, everyone hears these as mere buzzwords–Staking and Farming. Without a doubt, staking and farming protocols are changing the face of finance. Passive income opportunities such as these have not really existed for the average investor in any market, and crypto investors are beginning to realize that trading isn’t the only way to earn life-changing returns on your crypto holdings.
Popularized by DeFi protocols such as Aave and Compound, Staking has quickly become the option of choice in the erstwhile debate between traders and HODLers. Why is this so, and why do we think this trend is going to continue?
The answer is simple: staking solutions are the best at helping and incentivizing BOTH projects and investors.
Crypto Projects & The Demand-Supply Conundrum
Every single crypto project faces the demand-supply conundrum upon launch:
- Their token represents ALL of the assets of the company.
- Investors are keen to sell and take profits.
- Since most crypto projects are true startups building for the future, the use case for their token is often not going to come into play for a while, at least.
- Incentives to HODL are few and far amid the bull market, while in a bear run investors panic sell even though it often means losses.
- Every project faces this problem of creating demand for a token that currently has limited use case outside of the profits to be taken—which can so far only be taken by selling, hurting the project.
This results in a cascade of problems for projects:
Token Price Fluctuations
Though the crypto industry is now more than a decade old, it’s still in its nascent stage and growing at a good pace.
The recent crypto plunge has given us a glimpse of how volatile the crypto market is.
With wild swings in investor sentiment as well as token price, the value reserves of each project are essentially unprotected—and their valuations can change by 100% in a matter of a single day. The lack of stability this makes project teams face is difficult to overestimate.
In bull runs, investors look to take profits. In bear runs, they panic sell, even though this often means losses.
The fact remains that it is humans trading and investing, and emotions get the best of even the most experienced investors.
Added to this, is the fact that the true use cases of most tokens are either far into the future, or not seen as enough of an incentive by most.
This means there is constant sell pressure for the token of each crypto project.
Due to the speculative crypto market, it’s hard to attract long-term investors. Thus, Pump-and-Dump schemes become common, attempting to boost a token price via recommendations based on false and exaggerated statements.
This also hurts not only novice investors who buy into the hype and lose when the inevitable dump comes, but also the projects themselves.
The solution is simple.
- Investors are constantly looking for as high a yield on their investment as possible.
- Projects need to build a robust system that moves liquidity away from trading markets and eases sell pressure.
- Token utilities need to be sought out and created to incentivise investors to HODL.
UniFarm is an attempt at solving these problems not just for our projects and tokens ($ORO and $UFARM), but the entire ecosystem.
Unifarm is a one-of-a-kind staking protocol that brings together various DeFi projects in a single space and helps in long-term holdings. It has a user base of 24000+ and has partnered up with numerous projects to form a reward pool of all their tokens combined; a user can stake one of these and get rewarded in all tokens within a given pool. It is a 100% decentralized system, where a user can stake or unstake any time. UniFarm is currently working on various features, including cross-chain farming, liquidity farming, Loans, Index Funds, etc.
Benefits that UniFarm Offers to Investors
- Users can stake any one or more of their holdings from the tokens available in the pool.
- There’s no lock-in. Users can unstake anytime.
- These holdings can be utilized in a non-custodial manner- UniFarm enables users to be able to connect to their MetaMask wallet, Trust Wallet or Coinbase Wallet.
- The UniFarm Pools last for a stipulated number of days, and we have multiple projects coming in for consecutive farms.
- A Minimum APY is guaranteed, meaning investors do not have to fear losing out in any kind of value appreciation.
- The principle is completely safe.
- All this happens on a 100% decentralized platform.
Benefits that UniFarm Offers for Projects
- It creates demand for the token of each project involved in the cohort.
- It reduces the trading supply, by removing a certain amount of liquidity from the trading markets.
- They get good exposure to new projects in the space.
- It eases the sell pressure.
- It creates long-term holders for the projects.
- Investors are incentivized to hold their tokens for a long period of time, as this increases their accrued rewards.
Creative Minds Behind UniFarm
UniFarm has been co-founded by Mohit Madan and Tarusha Mittal, who together lead the team of 30+ young aspirants proficient in their respective fields.
Mohit Madan: Co-founder
Mohit Madan is a seasoned professional with 10+ years of experience in software development, Enterprise Architecture, and Cloud Computing. He’s the brainchild behind UniFarm, a universal staking and farming platform.
A proficient investor and a committed programmer, Mohit carries a strong passion for innovation and technology which made him come up with a more secure and better alternative for investment, UniFarm, which is a win-win in all forms.
Besides UniFarm, Mohit is also a founder of OroPocket, which is also an investment platform that allows users to invest in Digital Gold and Silver – as a safe hedge against inflation and at the same time utilize these investments for day-to-day transactions.
He’s a true entrepreneur who sees a massive opportunity within this industry where there’s a strong need for one solution for the value of money and simultaneously making sound investment decisions.
Tarusha Mittal: Co-founder
A dynamic powerhouse and an award-winning entrepreneur, Tarusha Mittal is the visionary force behind UniFarm. She is one of India’s selected female entrepreneurs known for her commendable works done in the blockchain space. She has a demonstrated history of working with several projects in the Blockchain and DeFi space and done a remarkable job by previously building Ethx, OroPocket and Cloudrino.
Tarusha Mittal has a proven track record of making an impact in the field of Blockchain and has been contributing for 10 years with her Podcast – Living on Blockchain.
The team at UniFarm is equipped with young, passion-driven and creative people, who manage to get some fabulous work done with a whole lot of fun.
This is what Tarusha has to say about the team –
We have various departments that have a pile of work to complete. They are, however, more interested in finding flaws in others. And yet, at the end of the day, we have a great time – and even manage to get some fantastic work done!
UniFarm, a decentralized farming pool, had a $2 million fundraise from leading blockchain funds in the industry.
The investors include Moonwhale Ventures, Dach Capital, Playcent Capital, Alphabit Capital, MorningStars Ventures, NGC Capital, Blocksync Capital, Chronos VC, Aquity Capital, Crypto Dorm Fund, Genblock, x21 Digital, 18 Ventures, Inclusion Capital, MXC Capital, Okex Dream Fund, Lotus Capital, Spark Capital, Zokyo Ventures, Acheron Capital, Moonwhale Ventures, Alphabit, NGC Capital, Morningstar Ventures, Rarestone Capital, LD Capital, and AU21 Capital.
As part of this fundraise, UniFarm has also got its own governance token named $UFARM.
$UFARM Token Reserves
UniFarm is the product of OroPocket, formed on the concept of delivering financial freedom to everyone. We are constructing the future of farming in a totally decentralized and transparent manner with UniFarm. In that vein, we’d like to provide you with an update on $UFARM tokens as we take the necessary steps.
According to our whitepaper, we have now shifted $UFARM tokens to other wallets to fulfill certain functions. The following is a breakdown:
The Foundational Reserves will be used to cover the costs of the company’s operations and expenses. These will be locked for 6 months, with quarterly unlocks over the next 6 quarters.
Token Supply: 60,000,000 UFARM
Team reserves are locked for a year, with monthly unlocks from 13 to 24 months.
Token Supply: 100,000,000 UFARM
These are the tokens set aside for marketing outreach. Cliff for 3 months; monthly unlocking from month 4 to 24.
Token Supply: 50,000,000 UFARM
Strategic advisors should read this. These are locked for 6 months before being unlocked on a daily basis from days 181-360.
Token Supply: 50,000,000 UFARM
These will be used in the UniFarm pool farming system.
Token Supply: 500,000,000 UFARM
Token Allocation for Community
We have varying schedules for unlocking these tokens. Please see this section of our whitepaper for a detailed breakdown.
Token Supply: 50,000,000 UFARM
Seed Investors: 5% on TGE then linear unlocking from day 90-360
Private Investors: 10% on TGE, then linear unlocking from day 90-360.
Token Supply: 130,300,000 UFARM
How Does UniFarm Work?
By far, there have been 25 cohorts for UniFarm, and all of them proved to be successful, one after the other. UniFarm is the place where you stake your holdings and get maximum APY after the Cohort concludes. We have shared a few stories with you where users earned staggering returns for their investments.
This is a one-of-a-kind platform where several high-quality projects come together to create a common token pool for investors to farm from.
The incentive program is designed to offer value to investors, where they stake one token and get to earn all the others available in the pool.
It’s simple. You stake one token and farm all the others available in the pool. Let’s say you want to stake $UFARM tokens in UniFarm Cohort 29.
First, you should have $UFARM tokens available in your MetaMask. In case you don’t, you need to buy $UFARM tokens. $UFARM is listed on some of the top tier exchanges in the crypto space, such as Uniswap, Dfyn, MEXC Global and PancakeSwap.
You can use any of the mentioned exchange to buy $UFARM tokens and transfer them to your MetaMask’s BSC Network (because Cohort 29 is a Binance based pool).
Once you’ve done that, you can follow this How to Stake guide to stake on UniFarm effortlessly.
Once you’ve gone through the entire process and staked your $UFARM tokens successfully, this how your investment will be automatically diversified:
Let’s take an example: You stake $UFARM token in the UniFarm pool.
The first WEEK, you farm $UFARM
The second WEEK, you farm $UFARM, and $ORO
The third WEEK, you farm $UFARM, $ORO, and $HASH
The fourth WEEK, you farm $UFARM, $ORO, $HASH, and $CSS
And, this goes on for the entire duration of the Cohort.
UniFarm is a one-of-a-kind staking solution that is far superior to any other staking solution available to users. It is a win-win for both investors as well as projects where they can come and join hands to get value.
In addition, UniFarm is the best bet for projects and investors in the bear market too. It enables users to generate a passive income on tokens that they are holding. This also means that investors stay staked for longer, building demand for the projects involved in the available Cohort.
UniFarm is a one-of-a-kind staking solution where the best projects in DeFi space come together to provide value to investors. UniFarm allows you to stake one token but earn multiple high-value tokens, so in addition to a great APY, your returns are automatically diversified as well.