Review Unifarm

Review: Unifarm

3.8

Unifarm, the farm that rules them all. Decentralized farming pool of DEFI's top projects.Stake one token and farm multiple tokens.

Pros
  • Asset auto-diversification with a minimum APY of 36% and a maximum APY of 250%
  • Brings a group of projects together to form a reward pool
  • The gamification architecture used by UniFarm is meant to motivate users to stake tokens and stay in the pool for extended periods of time
Cons
  • Several complaints of pump and dump were leveled against Unifarm in its initial phases
  • Being at the top might be a difficult task because there are thousands of other businesses battling for the same sector.

Business Score: 3.8/5

Branding

UniFarm bills itself as a multi-token reward staking technique that assures your portfolio is automatically diversified as well as a guaranteed minimum APY of 36% and a maximum APY of 250%. This distinguishes Unifarm from other coins and invites investment firms and the community to participate. Unifarm was able to obtain $2 million in seed capital from industry-leading crypto investment companies such as AU21, Alphabit Fund, Acheron Capital, LD Capital, Moonwhale Ventures, Morningstar Ventures, NGC Ventures, Rarestone Capital, Undisclosed Investors, and Zokyo as a result of its branding. Unifarm is still trying to stand out as its own blockchain and not blend in with other projects.

Team

Unifarm now employs 51-200 people, with Mohit Madan and Tarusha Mittal serving as co-founders. Unifarm is based in India, and the project’s co-founders adhere to a set of principles. Think actively, be really helpful, act with humility, appreciate quality, maximize efficiency, and keep your focus on the product, to mention a few. The team also emphasizes open communication, with weekly all-hands video sessions in which team members exchange project updates and acquire new skills from one another on topics ranging from internet marketing to sauerkraut making.

Road Map

Unifarm is continuously attempting to reach new heights. It states that any economy must experience both recession and expansion in order to exist. The majority of the world’s economies are based on this idea, which allows them to scale and last. Unifarm intends to follow the same path as its predecessors. UniFarm charges projects that join cohorts fees. A quarter of this charge will be used to purchase back $UFARM tokens and store them on the blockchain for a year. Not only will this provide a consistent contraction, but it will also give the necessary stability for scaling. Farming receives 50% of the $UFARM tokens. This is how $UFARM would be distributed to different groups. This will guarantee that the supply of tokens remains constant over time.

Technical 3.8/5

Product

Value proposition of UniFarm

The benefit of farming with UniFarm is that the user/investor is guaranteed a minimum annual percentage yield (APY). High APYs result in a larger demand for the token, which benefits both investors and projects joining the UniFarm cohort. Stakeholders’ incentives are dispersed in phases, starting with one token (first phase) and progressing to all tokens later on. UniFarm’s unique strategy of enabling various tokens distinguishes it from other DeFi initiatives, making it beneficial to both users and projects.

UniFarm’s $UFARM token

UniFarm’s native token is $UFARM. UniFarm has added a significant amount of value to this coin by including old DeFi tools. The most notable use case is governance, which implies that $UFARM token holders may vote on all project protocol updates. Apart than that, $UFARM is accepted in all major pools as a token. As a result, the $UFRAM coin may also be used for staking on the platform. UniFarm’s team is working to expand the project’s application cases.

To keep the supply stable, 50% of the $UFARM tokens are set aside for farming and will be made accessible in the farming pools over time. Apart from that, the project employs a ‘buy back & lock’ approach, in which 25% of the fee charged by projects to join pools or cohorts is utilized to purchase back tokens, ensuring scalability and removing external financial constraints. The $UFARM coins are then frozen for a year on the blockchain. After this period, the tokens are transferred to the project’s treasury, which is designed to expand and maintain the enterprise over time.

  • Governance

UniFarm’s governance token is $UFARM. We’re working on making it a stand-alone SaaS product so that developers and projects may create customized offers for the various pools. Voting using $UFARM coins will regulate all protocol-level modifications.

  • Staking

All key cohorts will include the $UFARM token, allowing token holders to invest $UFARM tokens and receive a variety of additional high-quality project tokens at a good APY.

  • Premium Pools

UniFarm plans to introduce multiple premium pools and offerings for $UFARM token holders, based on a TIER structure.

  • Premium Products

UniFarm is cooperating with a number of platforms, launchpads, wallets, and service providers to create synergies for ticketing and other services. A TIER structure would be used to make this available to $UFARM token holders.

  • Access to add-ons

UniFarm is developing a number of add-ons (such as on-chain insurance, NFT farming etc.). For a TIER structure, they would be made available to holders of $UFARM tokens.

Crypto-Related

UniFarm ran their first cohort with $ORO, $MATIC, $REEF, $CNTR, and $FRONT to confirm their unique model works. This experiment was a huge success, with consumers locking in $500,000 worth of tokens in only a few hours. UniFarm has been successful in acquiring a total of $10 million in total value locked, according to the plan (TVL). As previously stated, the roadmap’s next phases involve enhancing the project’s technology end as well as adding additional use cases for the token. The firm has observed so far that UniFarm’s suggested model has a lot of value for both projects and consumers, and core technology geeks recognize that a token is only as good as the project itself.

UniFarm is a project that is still moving forward according to its schedule. More significantly, the project’s creators (the same people that brought us Oropocket) are dedicated to making a good impact on the DEFI ecosystem.

Security

The gamification architecture of UniFarm is meant to motivate users to stake tokens and stay in the pool for extended periods of time while maintaining optimum security. They receive greater incentives the longer they remain. The structure also encourages new investors to participate in the tokens, resulting in increased demand and a decrease in the amount of tokens accessible for trade. UniFarm generates a token utility. Startups provide a new utility for their tokens by forming a pool using UniFarm, which means that they may now be staked to earn a lot of other tokens as incentives. Because tokens are now staked, they are removed from the trading supply, allowing businesses to concentrate on other things. Because the entire procedure takes place on blockchain with no secondary intermediary, the security aspect is also maintained.

UniFarm assembles a cohort of excellent companies. We aggressively advertise each TOKEN across the cohort’s numerous networks, ensuring that everyone has access to a fresher pool of investors. UniFarm’s gamification design assures that even if few users are staking, the APY is quite high (250 percent to 350 percent), motivating investors to stake more tokens and therefore building demand for it. UniFarm also guarantees a minimum annual percentage yield (APY) to ensure value generation for investors.

*Disclaimer* The project’s reviews are not financial advice. You are risking your own funds and you should do your own research on each individual investment. We only search for strong projects and are not looking for a get rich quick scheme.

*The review can contain referral links and is based on our internal guide that you can read here: Internal Review Guide*

Join our social channels for news and discussions on everything crypto-related. Want to discover more amazing projects? Check out the Reviews and Crypto World category. If you are new to crypto, visit the Education category and get started with your first project

We strive to educate, grow and help as a community with no borders. We support equality of genders, races, and colors and we want to touch the whole world.

Leave a Reply

Your email address will not be published.