Pinknode is participating with OpenDefi’s UniFarm to introduce a group yield farming initiative.
Pinknode will be part of Cohort 16, alongside Kylin Network, PolkaBridge, and Polkafoundry. Cohort 16 is a Polkadot-centric pool, with all its participating projects being Polkadot natives offering farmers a fantastic opportunity to accumulate some ‘Polkadot’ tokens!
Introduction to UniFarm 🌾
UniFarm is a staking pool developed by OpenDefi, which allows users to stake assets for yield farming. The size of your token profit increases with the length of time you spend farming.
☑️Here is a list of the projects participating in UniFarm’s Cohort 16:
- Pinknode — $PNODE
- Kylin Network — $KYL
- Polkafoundry — $PKF
- PolkaBridge — $PBR
- UniFarm — $UFARM
How it Works ⛏
For farmers who are willing to participate over the entire course, they will be rewarded with all of the above five tokens! For example, a farmer begins staking their $PNODE in the first week, they will earn only $PNODE tokens. If they continue staking into the second week, they will earn $PNODE as well as $KYL tokens. Moving into the third week, they will earn $PNODE, $KYL and $PKF tokens!
UniFarm’s system has an in-built compounding gamified framework, staying longer will allow farmers to reap more rewards. Nevertheless, farmers will be able to unstake at any time, although this will cause their staking clock to get reset to zero.
For example, if a user who has made it all the way to Week 3 and is earning $UFARM, $KYL and $PNODE suddenly decides to un-stake their tokens, they go back to square one. Hence, they will only earn $PNODE if they decided to stake again.
There are Great Rewards to be Reaped 💰
Cohort 16’s UniFarm Pool starts 8th of July 2021 UTC 1:30PM and will last for three months or ninety days. The reward pool for each respective project’s native token stands at US$ 25,000, with the total reward pool of Cohort 16 being worth US$ 125, 000 in value.
Users can look forward to a guaranteed minimum annual percentage yield (APY) of 36%, with a maximum APY of a stunning 250%!💎
They urge you to take full advantage of this opportunity and reap a bounty of five high-potential tokens at the same time — all for the price of staking one!
About Pinknode
Pinknode is a Polkadot-specialized Infrastructure-as-a-Service provider with the goal of accelerating adoption and empowering innovators to build on the most promising Web 3.0 ecosystem. By providing API endpoints through a streamlined onboarding process and maintaining secure, reliable, and scalable node infrastructure, Pinknode helps innovators jumpstart development quickly and accelerates their product life cycles.
📰 INFO
https://medium.com/pinknode/pinknode-joins-a-polkadot-centric-unifarm-campaign-1c08c87043e6
