What is UniFarm

Unifarm is a farming platform with a unique design. You stake one of the four cryptos in the cohort and you earn your rewards in all five of the cryptos in the cohort. The first week you stake you earn just the coin you staked, the second you earn the original coin and one additional, the third week you earn three coins, the fourth week you earn four coins, and the fifth week onwards you earn all of the cryptos in the cohort. The cohort lasts 90 days and there is no lockup period, you can unstake at any time.

This post goes over UniFarm in detail and it does include some historical issues that have occurred with the platform.

What is the APY

Polygon Cohort 32 has a total of $100,000 of rewards that will be distributed over the 90 days staking period. Each of the four tokens will receive $25,000 of staking rewards. A maximum of $250,000 of each projects cryptos can be staked.

Unifarm does a unique calculation of APY. The APY is 36% to 250%. The APY value is calculated based on the token value the day that the cohort starts. That means if the value of some of the cryptocurrencies increases during the staking period you have the potential to earn a much great APY. It Cohort 18 I earned an APY ~900% due to two of the tokens having a large increase in value during the cohort. The opposite is also true, if all the tokens decrease in value the effective APY can be less than the 36% minimum promised.

Each cryptocurrency has its own portion of the staking proceeds. This means that the more people that stake a specific member of a cohort, the lower the APY in that portion of the cohort. It is not uncommon for staking one member of the cohort to earn 200%+ APY and another member 36%.

Members of the Cohort

UniFarm (UFARM)

The native token of the UniFarm platform. You can see my complete writeup of the platform.

Fractal Trade (FIT)

Fractal Trade is a crypto that promises returns each month based on the smart contract. It mission is "Hold $FIT from Fractal Trade and double your investment every month. Stable token growth secured by smart contract algorithms." It is important to note that there is a large difference between the buying and selling price

FABWELT (WELT)

FABWELT is a gaming, metaverse, in game defi dapp. It mission is "Fabwelt is a a revolutionary concept that brings blockchain technology into the core of high-quality games of all types or genres."

SwapMatic (SWAM)

SwapMatic is a dapp available on Polygon that searches different DEXs to find the best rate for a trade. It mission is "SwapMatic is a liquidity aggregator that empowers emerging token projects by providing them visibility and exposure in SwapMatic UI and liquidity farming opportunities in SWAM pools. Swapmatic provides a hassle-free interface 'for dummies' and always finds the best price for the user."

How to Use UniFarm

Like most DeFi protocols, UniFarm is very easy to use. You simply connect you wallet, choose the token that you want to stake, and then input the number of tokens that you want to stake. It will then show you the available cohorts.  You can do this same process, filling in a random number of coins, if you want to look at the APY being offered for the various different cryptocurrencies in the cohort.

I have had very positive experiences with using UniFarm and my last cohort provided an APY of over 900% factoring in the market gains of the tokens.