OpenDefi has been a part of 11 cohorts on UniFarm and the journey has been a great ride! So far, OpenDefi was available on Ethereum, Binance Smart Chain, and Polygon. With the launch of UniFarm’s Cohort 33, OpenDefi is now live on the 4th major blockchain, Avalanche, on UniFarm.
What is the Avalanche Chain?
Avalanche is a platform that allows you to build your own blockchain networks and decentralized apps (dApps). The Avalanche crypto platform, developed by Ava Labs, is one of several initiatives vying to dethrone Ethereum as the most frequently used smart contract platform in the blockchain ecosystem. Avalanche promises to be more scalable than Ethereum because of its high transaction throughput of 4,500 transactions per second (TPS). AVAX, Avalanche’s native token with a limited quantity of 720 million, is utilized not only as part of the Avalanche consensus process but also to pay network transaction fees.
Avalanche has sought to compete with Ethereum by establishing its own decentralized finance (DeFi) ecosystem, and a number of Ethereum-based DeFi applications, including bZx, SushiSwap, Reef, Securitize, and TrueUSD, have connected with its platform. Avalanche is also building a bridge to the Ethereum network, allowing users to effortlessly move assets between the two networks.
OpenDefi is Live on Avalanche Chain
UniFarm is launching its latest cohort on Avalanche, the 4th major blockchain and OpenDefi is proud to be a participating project in the cohort.
UniFarm Cohort 33 goes live Jan 7 @ 1:30 PM UTC on the Avalanche Network.
Projects Joining UniFarm Cohort 33 Alongside OpenDefi
We’re thrilled to announce that OpenDefi will be accompanied by 3 uber projects in the UniFarm Cohort 33.
AVME ($AVME)
As organizations and individuals rely more on technology to conduct business and carry out daily activities, so does the need for the security of the technologies they use. AVME was created to aid in detecting and removing such malicious software transparently, thereby disrupting the activities of cybercriminals worldwide.
AVME’s technology is powered by its token infrastructure. The AVME token is deployed as a contract on the Avalanche C-Chain, with a custom-built wallet to support the virus detection suite built into the AVME blockchain.
SpaceSwap ($MILK2)
SpaceSwap aims to create residual income through the best that DeFi has to offer. It has introduced two significant innovations which have the power to transform DeFi.
UniFarm ($UFARM)
UniFarm is a one-of-a-kind staking solution that brings together the greatest projects in the DeFi space to deliver value to investors. UniFarm enables you to stake one token but receive many high-value tokens in return, thus your returns are automatically diversified in addition to a terrific APY.
$UFARM Contract Address on Avalanche: 0xd60effed653f3f1b69047f2d2dc4e808a548767b
OpenDeFi ($ORO)
OpenDeFi provides 100% asset-backed banking without the insidious, hidden charges and time-consuming tedium that come with traditional banks. Through their Fiat on-ramp OroPocket, users can invest in multiple asset classes, grow their wealth, enjoy 100% liquidity — all on Blockchain, with a simple app.
$ORO Contract Address on Avalanche: 0x612B6F08d7A149a668EF9AB16EA3147969B2e85B
Here is where you can find liquidity added to Avalanche for trading $ORO: https://info.pangolin.exchange/#/token/0x612B6F08d7A149a668EF9AB16EA3147969B2e85B
How Does UniFarm Cohort 33 Function?
You stake one token and farm the rest of the tokens in the pool. Assume you have a stake in $ORO.
You farm $ORO for the first week.
The second week is spent farming $ORO and $UFARM.
The third week is spent farming $ORO, $UFARM, and $MILK2.
The fourth week is dedicated to farming $ORO, $UFARM, $MILK2, and $AVME.
And so on till 90 days have passed.
What is the Size of the Pool of UniFarm Cohort 33?
UniFarm Cohort 33’s total reward pool size is $100,000. The prize pool for each project is $25k, and each project may stake up to $250k in tokens.
Important Information for UniFarm Cohort 33
- Stake any ONE token and farm the rest.
- This cohort’s pool will be open for 90 days.
- For this cohort, we promise a minimum of 36% APY and a maximum of 250% APY.
- This pool is on the Avalanche Network and accepts ARC-20 Tokens.
- Users may unstake at any moment, however doing so resets their clock to zero. The technology has a gamified compounding architecture. The longer you remain, the more perks you will get.
Wondering how to stake? Don’t worry, here are the resources you need to successfully stake $ORO on the Avalanche Network.
