Unido joins UniFarm’s 7th Cohort to launch UDO staking on Binance Smart Chain
We are pleased to announce that Unido ($UDO) will be joining Unifarm’s 7th Cohort to launch single-sided $UDO staking on Binance Smart Chain (BSC).
UDO token holders will be able to stake $UDO tokens and farm multiple tokens in the UniFarm pool at a guaranteed APY ranging from 36% to 250%. This gives the Unido community an option to perform group farming, providing increasing rewards for long term UDO holders.
What is Unifarm?
UniFarm is a staking solution where the best projects in the DeFi space come together to provide value to investors. The platform allows you to stake one token but earn multiple high-value tokens. So in addition to a great APY, your returns are automatically diversified as well.
Unido will be joined by the following projects in Unifarm’s 7th Cohort:
- Cook Protocol ($COOK)
- OpenDeFi ($ORO)
- Umbrella Network ($UMB)
- UniFarm ($UFARM)
How does the UniFarm pool work?
Let’s take an example: Alice stakes $UDO in the UniFarm pool
The first week, Alice farms $UDO,
The second week, Alice farms $UDO and $ORO,
The third week, Alice farms $UDO, $ORO, and $UMB,
The fourth week, Alice farms $UDO, $ORO, $UMB, and $COOK
and so on.
Users can un-stake their tokens anytime from the UniFarm pool, but the clock will be set to Zero again i.e. if a user un-stakes in the third week, for example, the user has to start from the first-week cycle again.
The farm will be live for 180 days from launch.
How does UniFarm benefit Unido token holders?
Our objective is to continue adding utility to the UDO token, providing our supporters with a variety of options for holding and staking their UDO token.
Therefore, to augment our Unido Liquidity Mining Program which provides UDO rewards for providing two-side liquidity either to the UDO/USDC or UDO/ETH pools, we wanted to provide our community with single-sided $UDO staking option via UniFarm’s BSC pool.
In addition to receiving an attractive APY, we are excited to help our community gain exposure to fellow projects in our cohort and expand the network efforts across our joint communities.
We will be going live with the farm on May 11th at 1.30 PM GMT
Please follow the Unido Announcement Channel for further information and more detailed information on how to take part.
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.
Telegram Announcement Channel: https://t.me/myunifarm
Unido is an enterprise platform for decentralized capital markets. It enables institutions & corporate clients to securely store, manage and invest their crypto assets into decentralized finance networks. Unido is underpinned by proprietary key signing technology that provides enterprise-grade security for any transaction which utilizes it.
Founded in 2017 and with a market-ready product, Unido is led by an experienced team of ex-Goldman Sachs, ex-Macquarie and ex-Wipro with decades of experience in enterprise software development, financial services and agency blockchain development.