A Step-By-Step Guide on How to Stake on UniFarm Cohort 2

We are delighted to inform that UniFarm Cohort 2 is going live tomorrow – February 13, 2021 at 7 PM IST | 1:30 PM GMT.

UniFarm is a multi-token reward staking program initiated by OpenDeFi. Through UniFarm, users can stake their tokens and earn other popular DeFi tokens as reward.

In UniFarm Cohort 2, the participating tokens include $MATIC, $NORD, $TVK, $ROUTE, $ZEE, $ORO.

With UniFarm staking going live tomorrow, we have come up with the step-by-step guide to help you stake effortlessly.

Before we move on, make sure to take note of the following points –

  1. Please have a MetaMask account to be able to stake tokens on UniFarm.
  2. Instructions to set up and download your own MetaMask can be found here.
  3. Make sure that you have ETH in your Metamask to pay for gas fees.
  4. You can stake tokens using UniFarm.
  5. When a token is marked as locked with days, you will not be able to unstake that for mentioned days.

Once you’re ready with all points mentioned above, please follow the steps below to start staking.

Step 1:

Log into your MetaMask Wallet.

Step 2:

Open https://unifarm.co/ in your web browser and tap on Launch App.

Step 3:

Connect your UniFarm app with MetaMask wallet.

Connect wallet
Metamask option shows up, Connect

Step 4

Once it is connected, you will be able to see your wallet address.

Step 5:

From the “Select Token” drop down, select the token of your choice.

Step 6:

In the next field, enter the amount for selected token you would like to stake.

  • You will be able to view pool for the selected token, only if token is available to stake.
  • You will not be able to stake more then maximum staking limit for single user.

Step 7:

Click on “Show me Available Pool” Button.

Step 8:

Now, you will be able to view all the active pools of your selected token along with reward token information, APY, Lock-in etc. (Pool list will be displaying in descending order of APY).

Step 9:

Click on More Details to navigate to yield calculation page to calculate your estimated token earning for a 90-days lock-in period.

Step 10:

Click on “Approve” to proceed further.

Step 11:

MetaMask will prompt you to approve the token. Please note that the approval of any token will require gas fees. Click confirm to proceed.

  • If you have already approved token, UniFarm will allow you to stake directly (Infinite Approval).
  • You will not be able to approve staking, if your account balance is less than the stake amount (This is to prevent loosing gas fee).

Step 12:

Once “Approved“, click on the “Stake“, to stake the selected token.

Step 13:

You will be prompted again to confirm your transaction. Click confirm.

Step 14:

Congratulations! You have successfully staked on UniFarm!

Once you confirm the transaction, your tokens get locked over UniFarm where you can unstake and claim your reward at any point of time, unless the token has lock-in, which will automatically reflect (refer point 5).

Also, to stake another token, simply click on Stake New, and follow the same process again.

“You can stake more than one token in UniFarm and unstake & claim your rewards during any time of UniFarm Pool, which will last for 90 days.”

Please Note: Do ensure there is enough ETH in your MetaMask account for gas fees.




Share your vote!

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Leave a Reply