PolkaCover joins UniFarm’s Cohort 6

CoverRangers! You can now stake your $CVR in UniFarm Cohort 6.

Joining with us in this process are three other innovative projects — $ORO, $GFX and $RFUEL

Date: 27th APRIL, 2021

Time: 10 PM IST / 16:30 GMT-UTC

The staking process –

Step 1: Click on “Connect Wallet” to select wallet options as MetaMask, Coinbase or TrustWallet and connect to your wallet. (Once connected, the UniFarm website will show your wallet address).

Step 2: Select the “Select Token” option and choose the token of your choice.

Step 3: In the following field, enter the amount of tokens you wish to stake. (The amount should not exceed the available token balance).

Step 4: Click on “Show Available Pools”. Active pools which contain the selected token will be displayed. (Along with other information such as APY, reward token & Lock-In)

Step 5: Click on the “Stake Now” button to see the 90-day return policy. (Staking is not possible beyond your wallet balance as well as the single user limit)

Step 6: Click on “Approve” to proceed or click on “X” to go back to step 2 to select another token.

Step 7: MetaMask will prompt the approval of tokens (Gas Fees are required in order to proceed with the approval). Click on “Confirm” to proceed.

Step 8: Once approved, click on “Stake” to stake the selected amount. You would be prompted again to confirm the transaction on MetaMask. Click “Confirm”.

Benefits of Staking in this Cohort –

  • Users can stake using one or more of the tokens mentioned.
  • Users can unstake anytime.
  • The Cohort 6 lending pool will last for 90 Days.
  • Users are entitled to a minimum APY of 36% and a maximum APY of 250%. Each project will contribute $25K worth of their tokens to the reward pool, with the total size being $125K.
  • Tokens worth $250K can be staked per project.
  • This pool is on Ethereum, with ERC-20 Tokens.

Let’s say you are staking $CVR tokens

Week 1 — You farm $CVR tokens only.

Week 2 — You farm $CVR + $ORO

Week 3 — You farm $CVR + $ORO + $GFX

Week 4 — You farm $CVR + $ORO + $GFX + $RFUEL

And so on.

LET THE STAKING BEGIN!

About PolkaCover:

PolkaCover is the First DeFi insurance marketplace for the global crypto ecosystem. Our aim is to lower transactional and administrative costs of insurance policies and coverage while providing high value, cost-effective insurance products for the crypto world.

Our platform will be connecting users with multinational insurance providers for all global insurance products such as crypto-related protection, health, life and travel policies. The platform will include a frictionless insurance marketplace experience that incorporates next-generation blockchain technology and tokenized incentives.

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The First DeFi Insurance marketplace for the global crypto ecosystem