In an Interview With Tarusha Mittal, COO & Co-Founder of Unifarm

A short intro on UniFarm

UniFarm is an ecosystem enabler that acts as a one-stop solution for every problem that a DeFi startup will face right from the very onset from launching their IDO (to raise money) to providing utility to their token etc. to help them scale. Our platform is built on the most important Web3 pillars, i.e Community, Partnerships, and Collaboration which are essential for any project to succeed.

Being in the DeFi industry for the past couple of years the founders experienced the difficulties any new project meets upon entering the market and its associated struggles to establish itself wherein it needs access to new holders, a large community so that more people get to know about it, stabilizing the value of its tokens against market uncertainties, and many more crucial problems. We built UniFarm, with the sole purpose of strengthening the DeFi ecosystem by utilizing the power of Partnership and Collaboration, hence, the idea of creating a platform offering a ‘Group-Staking Protocol’ where projects help each other grow together.

We help the project with its growth journey through our end-to-end service offering:

• UniLaunch- Providing a Launchpad to enter the market with our IDO Launchpad
• Group Staking Platform- As a project grows, they need to attract and increase new holders and with our ‘Group Staking Solution’ they get access to new holders with the help of our unique framework of ‘Stake One and Farm Many’. In addition, we help them add an additional utility to their token with our ‘Stake & Earn’ feature. Also, to help them achieve token stabilization, we provide them with our locked cohort facility wherein their token are locked in a smart contract which in turn saves them market fluctuations.
• Liquidity Pool Farming- LP farming or Liquidity Pool Farming at UniFarm enables LP token holders to stake and earn a high yield in multiple tokens. 

In addition to the above services we also provide startups with opportunities to help projects to grow and focus on product development, while we manage everything else for them. This includes:

A strong marketing force to reach out to a larger audience

Cross-community activities to create noise about the project and an extensive partner community (currently 100+) to interact with each other and explore prospective collaborations

Give them access to exchanges to get more visibility

A strong partner ecosystem of 70+ investors, marketing partners, influencers, incubators & accelerators to help them with their growth journey

When you say bringing all startups together to support a project, most projects involve pre-vetted investments to raise funding. How is your project different? Can you explain?’

We help our partner projects at various stages of their growth:

• Startup stage: We help projects raise funding through our dedicated IDO launchpad ‘UniFarm Launch’. Here we partner we different projects to form a staking pool where users not only get the benefit of staking rewards and diversifying their portfolio but at the same time an add-on opportunity for them to get whitelisted for the IDO launch. At the same time, this also creates an opportunity for the newly launched projects to get additional utility for their tokens.

• Growth Stage: Our platform is built on the most important Web3 pillars, i.e Community, Partnerships, and Collaboration which are essential for any project to succeed. Hence, the idea of creating a platform offering a ‘Group-Staking Protocol’ where projects help each other grow together. Through our group staking platform, various projects come together to form a reward pool for users to ‘Stake One and Farm Many’. At the same time, we provide projects with carefully curated Cross community activities to create noise about the project. In addition, we also offer projects to our extensive partner community network (currently 100+) to interact with each other and explore prospective collaborations. Our innovative gamification framework helps create additional demand for the tokens. The APY works inversely with the pool strength. If there is a project that does not have a lot of stakers, it means the APY would be very high, making it attractive for the investors to buy and stake this token and also get multiple other tokens as rewards.

• Maturity Stage: We provide our partner projects with access to exchanges (centralized and decentralized) to get more visibility. We also offer them a strong partner ecosystem of 70+ investors, marketing partners, influencers, incubators & accelerators to help them with their journey.
• How have you planned to eliminate the chances of liquidation when the markets are volatile?

The current market conditions are volatile due to ongoing corrections. However, with our Liquidity Pool Farming feature, we offer per block multiple token rewards for a single LP staking, wherein one can claim the rewards on every new block added to a blockchain. Another lucrative selling point for the LP Farming pool is that the moment you stake at UniFarm, the staking position will be an NFT. You can directly trade your NFT on marketplaces such as OpenSea. 

Often LP tokens may lead to impermanent losses. To remove this fear for our users, we offer staking LP tokens on UniFarm with a minimum guaranteed APY of 96% that can help you gain more returns even after impermanent losses if any. 

Do you think that concepts like yield farming will sustain for a long since people are more or less moving towards gamified DeFi?

Evolution is the name of the game but I believe Yield Farming will continue to be a preferred choice of investment for those looking for a passive source of income on their investments. It’s ideal for beginners since it does not require any significant capital, to begin with. Additionally, it does not involve any major transaction or maintenance cost. Your returns are not reliant solely on short-term market fluctuations and volatility, helping you ride over rough market patches with relative ease. Also, Yield Farming is a good idea for projects wanting to get their tokens locked to avoid token price dumping.

With other platforms doing the same yield farming concepts with other tokens, what all things Unifarm will bring to make it unique from the rest?

We are at present not only the first but also the only group staking solution out there. Projects raise capital, all activities revolve around creating a demand for tokens – partnerships, product marketing, etc. Project tokens have no real utility during the building phase. UniFarm solves this by enabling the creation of a utility where their tokens can be staked and without any impermanent loss users can earn rewards in multiple tokens. Since tokens are locked they are no longer sold giving projects more room to grow and reduce sell pressure. Single staking doesn’t solve it as it creates further selling pressure.

How would you propose sustaining in the bear market since most of the token prices are down and perhaps yield farming isn’t as viable as expected at present?

Considering the current market trends, we are aggressively working towards building a new feature for our customers (Projects and end-users alike). We recently came up with V2 of our Yield Farming solution along with Liquidity Pool Farming dedicated towards increasing token liquidity. Yield Farming is nevertheless a better use of the tokens rather than selling them at a loss or leaving them in your wallets

Closing Note

As per our roadmap, we plan to launch our own bridge to help Web3 startup projects seamlessly adopt new chains. This will allow users to transfer their tokens seamlessly across multiple chains.