UniFarm AMA Recap
Unifarm is one of a kind staking solution where the best projects in DeFi space come together to provide value to investors.
Today we have Mohit Madan as Co-Founder / CEO & Tarusha Mittal as Co-Founder / COO of Unifarm joining us to answer our questions for the next hour.
Mohit Madan. I am the Co-Founder / CEO of TradeStars.
I have been in the crypto sphere since 2013 and have gone through the journey of mining, trading, building and I’m now a serial crypto entrepreneur.
In 2016 we launched one of the first ethereum exchanges in India.
With Unifarm we’re enabling users to get most value on their tokens without any market risks!
I am Tarusha Mittal . I am the Co-Founder / COO of Unifarm.
I am the cofounder of Unifarm, a group farming and staking protocol.
Been in the crypto space since 2013.
This is at my 3rd crypto startup.
Question from the CryptoRank team
#1. Can you tell us about UniFarm? What problems do you solve, both in the space and for the community?
Mohit: – Unifarm is an innovative farming solution.
It’s quite simple actually, users can stake one token and get a bunch of tokens as rewards.
So if you staked $ORO, you could have farmed all 5 tokens with a minimum guaranteed APY.
This benefits the users as:
– We guarantee a minimum APY
– There is no market exposure
– We’re completely decentralized
– There is no lockin period
So far 20 projects have launched their farming solutions on Unifarm and about 28 more projects are in queue to launch soon. We have a TVL of ~8million USD already.
Tarusha: – Unifarm is a group farming and staking protocol, wherein the idea is to create immense value for both the investors and the projects that are being a part of any of the cohorts.
The idea is to bring elite projects together to create a common reward pool, and once the farm goes live, then the end user can stake any one token and farm many tokens, in a non custodial way. There is no lock in, as well.
The projects benefit via cross marketing and leveraging each other’s networks.
We guarantee a minimum APY of 36% and it can go as high as 250%
We have had 5 farm launches so far, on ERC20 and BSC- plus have been blessed with partners like Matic, Paid, Mantra Dao, Razor etc.
#2. Could you shortly describe the milestones UniFarm have achieved, and about your upcoming plans?
Mohit: – Unifarm has launched farming solutions for 20 projects already including – Polygon, reef, Frontier, Paid Network, Razor etc.
We already have ~8 million USD in TVL
There are 28 projects in the queue who would be launching on Unifarm very soon.
We are live on both Ethereum and BSC
Our next milestone is to expand to Polygon.
We’re also working on adding support for several financial services such as staking tokens to farm stocks.
Imagine being able to stake your favorite token and farm Coinbase shares ($COIN) without any risks 🙂
Questions from Twitter
Mohit: – Thank you for the question.
Unifarm’s pools are completely decentralized already.
However I understand that you’re talking about a SaadS (Software as a Decentralized Service). We are working on it, and it’s already on our roadmap.
#2. Sir, can you please explain how stacking pool/farm work? How can we stack on the pool, with LP token with liquidity or other?
Mohit: – The beauty of Unifarm is that there is absolutely no market exposure. So you don’t have to stake Liquidity tokens.
All you need to do is stake the tokens itself, and you start farming a bunch of good project tokens with guaranteed minimum APY.
There are pools live of 20 projects already (and 4 more projects are launching tomorrow).
#3. What is the most ambitious goal of your platform? I would admire it if you could share with us any Upcoming Updates?
Mohit: – There have been several celebratory moments in the past
– The first million dollars in TVL was very special
– Crossing 5 million in TVL was very special
But the most special was that several projects farms got filled in minutes after launching. For example – PAID got filled in 8 minutes from launch, RAZOR in 10 minutes and OM a few minutes after that.
This kind of love from the community is what keeps us going 🙂
Regarding Upcoming updates:
– We have a launch on Uniswap and Pancakeswap on 4th May
– We are launching a new cohort tomorrow
– We shall soon be expanding to Polygon as well 🙂
Questions from Telegram
#1. One of the article of Coindesk.com titled “Decentralized Liquidity Is the Backbone of DeFi”
What can you say about this?
In regards with this
What problems in Defi able to solve by Unifarm?
Mohit: – I completely agree with this thought process.
In this spirit we’re working on several fronts:
– We’re working on launching liquidity farming
– We’re working on offering add on services such as index funds
– We’re working on adding more financial services such as taking instant loans against your stakes
#2. Adoption is one of the key factors that any blockchain project will focus on to become attractive to investors and users. So, what is UniFarm plan to apply for more adoption?
Mohit: – Simplicity is the key to adoption.
We have tried to keep the platform as clean and simple as possible to be able to offer an excellent user interface with a great user experience.
You can try this yourself on https://unifarm.co
#3. Can you tell us the motivation and benefits for investors to keep the $UFARM token long-term? Do you have a plan to help boost token demand and scarcity?
Mohit: – Building an economy that can scale was one of the most important and critical step when we were designing tokenomics.
We have tried to keep the economy as breathable as possible.
You can read more about it here: https://docs.unifarm.co/unifarm-token/tokenomics