PolkaCover partners with UniFarm
Hello there CoverRangers!
We are excited to announce that PolkaCover will be collaborating with UniFarm for the 6th Cohort of their staking protocol. We will be joined by OpenDefi, RioDeFi and GamyFi for this innovative Farming Pool.
UniFarm is a new staking product developed by OroPocket, allowing users to stake $CVR and farm not just $CVR but also $ORO, $RFUEL and $GFX, providing competitive APYs. UniFarm rewards users who stay longer on the platform as it has an inbuilt compounding gamified structure — The longer you stay in, the greater the benefits.
As part of the partnership, users will be able to stake $CVR tokens alongside three other tokens included in the staking pool — Stake $CVR; Farm all the others. This means users will be able to stake the native tokens of each project respectively and be rewarded. Users will have complete control over their tokens of any sort with the options of staking and unstaking being available at all times.
The staking pool is scheduled to go live on 27th April 2021 at 4:30pm UTC and the total reward pool size is $125,000 with the reward pool per project being $25,000. For every project, users will be able to collectively stake tokens worth $500,000. As for the staking period, the UniFarm pool for these four tokens will last for a period of one and a half months or 90 days. Stakers of this pool will be eligible for a minimum APY of 36% and a maximum APY of 250%.
The staking pools have no lock-in time; hence the users have the ability to withdraw their tokens at any time needed. However, this will result in their clock being reverted back to zero. In case, a user restakes after unstaking, their compound interested will be lower than a user who has staked continuously.
“We are elated to have Unifarm on board with PolkaCover. UniFarm is a new generation decentralized staking pool. The inclusion of $CVR in their staking pools is the first step to a long-lasting partnership between UniFarm and PolkaCover.”
— Kunal Sadani , CEO, PolkaCover
“PolkaCover is one of the fastest rising names in DeFi today and is truly aligned with our vision of making this space as safe and secure for users as possible, while also providing true decentralization. Welcome to the UniFarm!”
— Mohit Madan, CEO, UniFarm by OroPocket
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.
Telegram | Twitter | Medium |LinkedIn | Website | Whitepaper | GitBook
About UniFarm
By enabling users to farm multiple tokens in one place with limited exposure, UniFarm provides traders with the opportunity to reduce the need to use multiple different farming platforms.
Twitter | Website | Whitepaper | Telegram
