Yield farming is one of the most popular ways to achieve sometimes downright stunning return on investmentIn 2020, platforms such as Compound came into the spotlight as leaders of the DeFi agricultural movement. The TVL (total value locked) in DeFi currently sits at over $ 26 billion, and with innovative new platforms making progress every day in the future of decentralized lending and lending, this will only grow in 2021.
OpenDefi, a fintech protocol created by Oropocket that enables custody of real-world assets on the blockchain, recently unveiled plans to launch Unifarm – a new stakeout protocol that will further incentivize people to use the platform and simplify DeFi farming benefits. Unifarm will include DeFi powerhouses OpenDeFi, Matic Network, Frontier, Centaur and Reef Finance.
OpenDeFi symbolizes real world assets such as gold and stocks that are 100% insured, backed by physical assets and held by a custodian, and the introduction of Unifarm introduces a new way for users to get involved in earning a variety of popular tokens without entering directly to invest, what an exciting addition to the range of services that the platform already offers.
Unifarm offers users exposure to a wide range of new tokens, with a very competitive APY. The feature will see an elite group of 5 projects, including layer 2 scale solution Matic and multi-chain smart yield engine and liquidity aggregator Reef, are contributing their own tokens in addition to the OpenDefi native token ORO to create a pool worth $ 50,000 USD. Users can then wager any of the included tokens in this pool and can earn rewards in all 5 tokens in the pool, subject to a weekly timeline.
This interesting new model means that users will have the opportunity to earn popular tokens without investing directly in them, opening a new way for investors to diversify their portfolios and unlocking a completely new avenue for wealth creation. The protocol is currently in the testnet phase and users can stake out on the platform at any time, but doing this will reset their stakeout clock to zero.
By allowing users of the platform to grow multiple tokens in one place with exposure to only a selected set of tokens, Unifarm gives farmers the ability to reduce the need to use multiple platforms at the same time to take advantage of multiple token yields .
OpenDefi’s ORO recently listed on Bitmax and ORO tokens are the inherent governance tokens of OpenDefi’s Open Finance Network. ORO tokens are compatible with ERC-20 and help users become part of the Open Finance ecosystem and protocol that serves as tools for governance and rewarding users for behaviors that benefit the Open Finance Network.
One platform, many possibilities
OpenDefi offers asset-backed banking without the long transaction times and hidden costs associated with traditional banks. OroPocket, the platform’s Fiat-on ramp, allows users to easily invest across multiple asset classes using a simple app, all while benefiting from 100% liquidity. By removing the current hurdles of price shifts and offering high liquidity and instant settlement, while at the same time offering full insurance and custody of physical assets, OpenDeFi plans to welcome a large number of new users from the traditional financial space.
Launched India’s first tokenized gold and silver assets on the Tezos blockchain last October, OpenDefi recently have announced their partnership with Bitdroplet, a platform that allows anyone to invest in small amounts in cryptocurrencies at regular intervals.