Nord Finance on UniFarm 2.0 | Stake $NORD & earn upto 300% APY
Introducing UniFarm to Nord Finance’s Ecosystem
Nord Finance is excited to announce that it has united forces with OpenDeFi to unfold surprises for Nord Vikings by joining the 2nd Cohort of UniFarm.
Under this initiative’s purview, it will enable $NORD holders to farm multiple tokens by staking their Nord tokens through the multi-token staking program, UniFarm.
Understanding the nuances of UniFarm
Initiated by OpenDeFi, UniFarm is a staking program employing multi-token reward mechanisms for platform users. The $NORD token holders will be eligible to stake their tokens and earn rewards by utilizing Nord’s native token. As part of this collaboration, users will be exposed to popular DeFi tokens driving the current DeFi landscape.
The concept of UniFarm does not employ redundant mechanisms of distributing staking rewards. It promotes innovative attributes of distributing staking rewards to platform users by utilizing multiple tokens. Instead of just receiving rewards in one token, stakers can now employ their NORD tokens in staking initiatives to maintain a diversified reward portfolio.
This is the 2nd Cohort of UniFarm staking initiative, with participation from six projects. The projects constitute Nord Finance(NORD), Polygon (Previously Matic Network- MATIC), Terra Virtua (TVK), Router Protocol (ROUTE), Zero Swap (ZEE), and OpenDeFi(ORO).
For instance, if a platform user stakes NORD tokens on UniFarm, they will get rewarded in NORD tokens in the first week. In the second week, they will receive NORD and MATIC tokens. In the third week, they will get NORD, MATIC, and TVK tokens as staking rewards and so on. However, this is just a blueprint of how the framework works. The actual launch might be different in terms of token reward distribution.
The platform users will be eligible for a minimum APY of 56% and a maximum APY threshold of 300%, depending on the time period for which the tokens are staked on the UniFarm platform. The UniFarm staking pool will launch for 90 days. Platform users are eligible to unstake and restake their crypto assets at any time, depending on their interest. However, one thing to remember is that once they unstake, their clock cycle with reset to zero ( i,e starting all over again)
When will the UniFarm pool be launched?
UniFarm pool will launch on 13th February, 2021 at 7 PM IST | 1:30 PM GMT
Where to participate?
UniFarm Staking Program’s Reward Framework.
The total reward pool size aggregates to $150k with $25k as a reward pool cap to be earned per project. This initiative will allow $350k tokens to be staked per project. Platform users will be eligible to stake one or more holdings from the tokens, as mentioned earlier. While following a weekly phenomenon, platform users will be able to farm all tokens participating in the UniFarm program. All the above figures are in equivalents of USDT.
We will release more details on the UniFarm program in the following days. Until then, stay tuned for the latest updates and follow us on our social media platforms as we continue to unfold exciting surprises for our community.
About Nord Finance
Nord Finance, a blockchain agnostic platform, is an integrated decentralized financial ecosystem that simplifies decentralized finance products for users by highlighting traditional finance’s key attributes. Deployed on the Ethereum Network, it integrates multi-chain interoperability, thus proposing a plethora of financial primitives, which constitute savings, advisory, loans against assets, investment/funds management, and swaps.
At Nord Finance, we are building a one-stop advanced decentralized financial ecosystem to serve the rising needs targeting novice users and professionals to meet their financial goals.
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