[Guide] Derived x UniFarm Staking is Live!
Stake $DVDX and farm $DVDX + $RAZE + $BCPAY + $STFI + $UFARM
Derived 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 $DVDX and farm multiple tokens in the UniFarm pool. The stake pool will be available from 1.30 PM UTC on 28th October, 2021 and will run for 180 days.
What is UniFarm?
Developed by OpenDeFi, UniFarm is a staking pool where user stakes an asset and starts farming other assets over the staking period. The longer you stay in the pool, the more tokens you farm.
The UniFarm pool will support the following assets:
- Derived ($DVDX)
- Raze Network($RAZE)
- StartFi ($STFI)
- Unifarm ($UFARM)
🤔 How does the UniFarm pool work?
Let’s take an example: David stakes $DVDX in the UniFarm pool
- The first week, David farms $DVDX
- The second week, David farms $DVDX and $RAZE
- The third week, David farms $DVDX, $RAZE, and $STFI
- The fourth week, David farms $DVDX, $RAZE, $STFI, and $BCPAY
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. The longer you stake the higher are the rewards.
🚜 How to Get Started
Step #1: Visit UniFarm
(Make sure you have $DVDX in your wallet, if not you can buy it from Pancakeswap.)
Click on “ Approve” to allow spending of $DVDX -> Once the Approve transaction is confirmed -> Click on “ Stake” and confirm the transaction.
You have successfully staked $DVDX and now start earning rewards.
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.
Derived is the Multi-Chain Synthetics Trading Platform that is available across multiple Blockchains. The Derived platform allows leveraged minting (up to 3x) to its platform users. It will also be the first platform that would allow its user unique features like, the ability to create Hybrid Tokens and access to features like Binary Options, Multiple native currency support, 0% Slippage, and Unlimited liquidity among many others.
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