RioDefi joins UniFarm’s Cohort 6 Multi Tokens Farming Pool
We are excited to announce that RioDeFi will be part of UniFarm Cohort 6 scheduled to be live on Tuesday, April 27th.
UniFarm is an innovative farming solution developed by the OroPocket team which brings top DeFi projects together in Cohorts which consist of a Stake One, Farm MANY tokens rewards pool.
This unique pool will provide selected projects token holders the opportunity to stake their tokens while earning crypto from other participating projects with APY ranging from 36 to 250%.
Under UniFarm Cohort 6, RioDeFi will be joined by OpenDeFi, Polkacover and GamyFi. RioDeFi will contribute US$ 25,000 worth of RFUEL in a total liquidity pool estimated at US$ 125,000. RFUEL holders could stake any amount up to a value of US$ 25,000 and get rewarded in all the other tokens participating in the Cohort.
Unlike traditional farming, UniFarm offers token holders diversification. This strategy can help reduce volatility and potential risks while enhancing the overall return of a crypto portfolio. Each project is selected carefully by the OpenDeFi Finance team who analyse how sustainable the projects are by reviewing their whitepapers, tokenomics, tokens’ price history, market cap and ensuring they are not involved in pump and dump activities.
‘’UniFarm has lined up impressive projects for its Cohort 6 and we are grateful to be among them. The gamification of the platform provides win-win solutions for all participants and has proven to create demand even for the weakened tokens who will benefit from an inverse and thus higher APY to keep attracting liquidity providers’’ says James Anderson, CEO of RioDeFi.
‘’We met RioDeFi’s CEO last november at an online event we both participated in and we were impressed by the ecosystem he is building together with his team to make crypto accessible to all. RioDeFi keeps expanding its presence across the DeFi’s space through solid partnerships and by allowing new projects to build on its interoperable blockchain. Therefore we think UniFarm could participate in creating further demand for RFUEL from other liquidity providers’’ add Tarusha Mittal, COO of UniFarm.
Cohort 6 will be live on Tuesday, April 27th on UniFarm’s website where interested parties could start staking their RFUEL (or other supported tokens) for a period of 90 days. Users can redeem their rewards at any time and for no withdrawal fees, however the longer people stake the higher their APY will be. When liquidity providers cash out their tokens and decide to re-enter the Cohort, their clock will be reset.
Since the launch of UniFarm the project has US$9 million in Total Value Locked, with 20 DeFi projects listed in 5 pools and UniFarm aims to reach US$ 100 million in TVL by Q4 2021.
UniFarm is 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. Powered by OroPocket.
RioDeFi accelerates the mass adoption of digital assets by bridging traditional and decentralized finance. Our vision is a world in which everyone has access to decentralized financial (DeFi) services. We develop solutions that connect banking institutions with blockchain systems. Our applications enable lower transaction fees, faster confirmations, more efficiency, better returns for savings account holders, and global reach.