Frontier is excited to announce a collaboration with UniFarm by OpenDeFi to introduce group farming, enabling long term incentives for token holders. Users will be able to stake $FRONT and farm multiple tokens in the UniFarm pool.
What is UniFarm?
Developed by OpenDeFi, UniFarm is a staking pool where user stakes an asset and starts farming other assets over the staking period. The longer you stay in the pool, the more tokens you farm.
The UniFarm pool will support the following assets:
- Frontier ( $FRONT)
- OpenDeFi ( $ORO)
- Matic Network ($MATIC)
- Reef finance ($REEF)
- Centaur ($CNTR)
🤔 How does the UniFarm pool work?
Let's take an example: Alice stakes $FRONT in the UniFarm pool
- The first week, Alice farms $FRONT
- The second week, Alice farms $FRONT and $ORO
- The third week, Alice farms $FRONT, $ORO, and $MATIC
- The fourth week, Alice farms $FRONT, $ORO, $MATIC, and $REEF
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 user un-stakes in the third week, for example, the user has to start from the first-week cycle again.
🤑 UniFarm Rewards?
The UniFarm campaign has total reward pool size of 50,000 USD worth project tokens (10k worth tokens of each project) and maximum of 100,000 USD worth project tokens each can be staked in the UniFarm pool.
The rewards will range between 40% - 250% APY depending upon how long the user is staked in the farm.
⏰ When does the UniFarm pool start?
The pool starts from Feb 3rd, 7 PM IST | 1.30 PM GMT and the first batch of UniFarm will last till 90 days.
OpenDeFi COO Tarusha Mittal spoke on FRONT being added to the Unifarm Pool: “Frontier is a fantastic project and for the first cohort of Unifarm we’re very happy to have them onboard.”
OpenDeFi is a fintech protocol that enables custody of real-world assets on blockchains and enables developers to build applications on top of it. Being open in nature this protocol allows seamless integration of other on-chain apps, and can enable multiple chains to cross-share the asset classes.
Frontier is a Chain Agnostic DeFi Aggregation layer. Using Frontier, Users can Track and Manage DeFi positions, Stake Assets, Swap or Exchange Assets and explore more DeFi Applications in one single place. Frontier is also building Frontier chain, which is a Decentralized Key Management blockchain based on Cosmos SDK.