Singapore, Singapore, 26th February, 2021, // ChainWire //
Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
Unifi Protocol declares the launch of Unifi Farms. The most revolutionary a part of Unifi Farms is there isn’t a staking of the liquidity token required. The public beta launch of Unifi Farms V1 will happen on not one, not two, however six completely different blockchains directly.
Unifi is proud to announce the upcoming public beta launch of Unifi Farms V1 on Binance Smart Chain!
Unifi Protocol isn’t a clone of different DeFi initiatives, which has led to some very distinctive improvements. Unifi Farms will proceed this custom of shattering expectations and introducing options on Unifi Farms not being supplied anyplace else in DeFi!
Unifi Farms could have a number of benefits over old style DeFi farms. The one that can probably be probably the most revolutionary with Unifi Farms is there isn’t a staking of the liquidity token required! Welcome to the world of true auto-farming on Unifi, the place we discuss with it as No-Stake Farming.
Why is farming with out staking so revolutionary?
Savings! Everyone agrees the excessive community charges on Ethereum have a big affect on the farming rewards earned by liquidity suppliers. Even on low value networks resembling Binance Smart Chain, the community payment is a price that reduces the good thing about farming.
To take part in most farms, the consumer pays not less than 5 community charges. First – present liquidity, second – stake the liquidity token within the farm, third – declare the reward, fourth unstake the liquidity token, fifth – trade the liquidity token again into the unique liquidity.
Unifi Farms solely requires two community charges. First – Provide Liquidity, Second – trade the liquidity token again into liquidity. You might select to assert Unifi Farm rewards at any time, as typically as you want, which does value an additional community payment. But that’s non-compulsory with Unifi. You might select to let the rewards develop till you take away the liquidity, which is able to robotically declare your rewards with no additional community value!
Security! We consider that hacks are a prevalent and unlucky pattern within the DeFi house. They demoralize potential customers from taking part in numerous initiatives and create nervousness for nearly everybody entails. The largest danger of staking your liquidity tokens is that these tokens depart your pockets and go to the DeFi platform’s contract. This places digital belongings at excessive danger. Unifi Farms doesn’t require you stake your liquidity supplier tokens in any respect. Which means they keep in the very best place – your pockets! Unifi Farms doesn’t take liquidity tokens, by no means has management over your liquidity tokens, might not switch or lose them, and even have them stolen. Because you retain them securely in your pockets the complete time. Who do you belief probably the most together with your liquidity tokens, the farming platform, or your self?
Convenience! There are not any additional steps required to have your liquidity earn extra rewards by way of farming! Depositing liquidity on Unifi already earns you a share of the buying and selling charges in that pair. Now with Unifi Farms, earn much more with no extra staking motion wanted. Your liquidity robotically qualifies for accessible farming rewards. All it’s a must to do is declare.
It is that straightforward. Provide liquidity, earn farming rewards. No staking of LP tokens required.
Let’s break it down much more:
Deposit liquidity and robotically earn rewards on prime of rewards. This suggests zero transaction charges to start out farming – there isn’t a must stake or unstake any tokens to start out incomes rewards. Security is a big differentiator for Unifi Farms. Unifi Protocol by no means takes possession of your LP (Liquidity Provided) token at any time. They keep in your pockets the entire time, which suggests you might declare your UP or withdraw your liquidity at any time. Unifi Farms is non-custodial.
Beta Launch Promotion Event
The preliminary public beta launch of Unifi Farms is a promotional occasion that can begin within the very, very close to future and run for two weeks solely. At this time, there isn’t a dedication from Unifi for farming rewards past this promotional occasion, though it’s potential future assist can be introduced.
In order to take part on this alternative, it is suggested to deposit liquidity now in order that when the promotion begins, you’ll robotically start incomes farming rewards. It’s possible that the best yield farming rewards can be earned by early liquidity suppliers. See under for how one can take part.
Make positive to observe Unifi Protocol social media channels for bulletins relating to the beta launch of Unifi Farms.
Which uTrade uPairs can be taking part in Unifi Farms v1 – Beta?
Deposit liquidity into the UNFI/BNB pair. All uUNFI holders robotically earn a share of UNFI in rewards.
Deposit liquidity into the REEF/BNB pair. All uREEF holders robotically earn a share of UNFI in rewards.
About Unifi Protocol
Unifi Protocol is a gaggle of non-custodial, interoperable good contracts linking a number of blockchains collectively into one massive DeFi market. uTrade is the working proof-of idea buying and selling platform for harnessing multi-chain swaps and liquidity mining to energy UNFI, Unifi’s Global Governance Token. Unifi Protocol additionally options cross-chain swaps, sustainable utility, a robust rewards infrastructure. The tokenomics of Unifi Protocol balances an more and more well-liked multi-chain liquidity farming platform.
Head of Marketing
- Ryan Dennis
- Unifi Protocol