Unifarm and bZx launched new tokens – DeFi market wrap

Blockchain is still in a phase where technological innovations are appearing in the space almost daily. And every project brings in some kind of value. We have Decentralized Finance (DEFI) and Non-fungible tokens (NFTs), along with stable coins and other products that help solve a complex issue in the most decentralized way possible.

However, blockchain tech is relatively new, and there are still lots of obstacles to overcome before it reaches its whole potential. For instance, interoperability and one-stop solutions are one of the gaps that need filling. UniFarm decided to use its unique farming solutions to help solve these problems.

This staking solution unifies the best projects in the DeFi space to provide value to investors. Furthermore, the platform allows users to stake one token but earn multiple high-value tokens. As a result, investors get not only a great APY but automatically diversified returns, as well.

Farming means locking up your tokens to get a return on them. This process allows investors to earn interest on their saved or locked up tokens. The UniFarm stands out from its rivals as it partners up with many projects and forms a reward pool of all their tokens combined. As a result, a user can stake one of these tokens and get rewarded in all of the tokens within a given pool. These pools are called cohorts in the UniFarm ecosystem. There are several cohorts available on the platform.

Besides, UniFarm offers a minimum annual percentage yield (APY) which is guaranteed to the token holders. High APYs, on the other hand, result in a higher demand for the token. Thanks to its unique model of supporting multiple tokens, UniFarm belongs to a separate class of DeFi projects which is valuable for both the investors and the projects.

UniFarm is launching a $UFARM token today

UniFarm is launching its native $UFARM token on April 19, 2021. The platform has added classic DeFi utilities to the token, giving it a lot of value. The most noteworthy use case is governance: the holders of $UFARM tokens will be able to vote on all protocol-level changes in the project. Besides, the token takes part in all major pools. So, investors can use it for staking on the platform as well. UniFarm team stated that they strive to add more use cases to the token as the project grows.

The $UFARM token holders on UniFarm can use their tokens to get access to other tokens. The platform helps maintain a high demand of $UFARM by decreasing or increasing the APY of the token according to supply and demand.

UFARM token type is ERC20, and IDO price is 0.04 USD per token. A total of 1,000,000,000 UFARMs are available for sale. The IDO is happening on DuckSTARTER. 50% of the $UFARM tokens are reserved for farming to maintain the stability of the supply. They will be available in the farming pools over time.

Furthermore, the project uses a Buyback & lock model to ensure scalability and no external financial crutches. It means that platform uses 25% of the fee taken by projects to buy back tokens. These $UFARM tokens end up locked on the chain for 12 months. After that period, the tokens move towards the project’s treasury.

bZx DeFi Protocol is releasing multi-cross-chain governance tokens

bZx is a decentralized finance flash loan platform. It has made good progress since it migrated to Binance Smart Chain. The company tweeted today that it plans to release more governance tokens.

bZx announced on April 6 that it was launching yield farming on Binance Smart Chain, aiming to reward its new BGOV tokens to liquidity providers. The flash loan protocol reported an update on April 19 about progress from its new governance tokens’ farming on BSC.

The platform reached a $1b TVL after a week of launching on BSC. The protocol’s first native token BZRX has skyrocketed by 8% over the past 24 hours. It was trading at $0.78 on Monday. BZRX had soared by 30% over the last month. The protocol has a TVL of $948 million currently.

While BZRX serves as the primary ERC-20 compliant native token of the bZx ecosystem, the protocol also has a BEP-20 standard token – BGOV. It is also a fee-generating and governance token.

bZx will use both tokens for liquidity provision, one for the BSC ecosystem and the other for Ethereum. The platform also plans to launch a margin trading, lending, and borrowing product on Ethereum Layer 2, claiming to be the first DeFi protocol to do so.

Rakuten is creating Digital Fan Tokens specifically for prominent European soccer clubs

Rakuten announced on Monday that it plans to let customers in the U.K., Germany, and Spain redeem loyalty points for digital fan tokens of prominent European soccer clubs. E-commerce giant started a new partnership with the blockchain company Chiliz for that purpose.

Rakuten members can already shop online to earn points. They will be able to redeem these points for Fan Tokens that Chiliz has built for Juventus, FC Barcelona, Atlético de Madrid, Paris Saint-Germain, AS Roma, AC Milan, and Galatasaray. According to the company, its deal will expand to include additional worldwide markets, along with tokens from other Chiliz partners.

Rakuten plans to become the Chiliz blockchain’s official node validator. Chiliz will also work with Rakuten’s blockchain lab. Malta-based Chiliz announced that it is committing $50 million to create fan tokens for various teams across the five major U.S. sports leagues. The digital collectibles allow fans to vote in polls that impact club decisions and access sponsor promotions.

DeHive and Cere Network’s ICO starts today

DeHive is a decentralized protocol. It allows the investor to become a holder of the top DeFi tokens gathered into one index. The index represents important DeFi assets. The team uses them to evaluate the economic health of the crypto market.

DeHive platform offers users the opportunity to hold a single token which ensures a profitable portfolio for the owner – DeHive Index. The selected tokens serve as an indicator of the general direction of DeFi market development, and the index is composed of their price. The investor gets a portfolio holding the top crypto assets, all of them represented by an algorithmically driven index.

Furthermore, the platform implements a mechanism that purchases the underlying crypto assets to support its index. The DeHive protocol uses an in-built system of oracles to ensure the acquisition of the tokens at the best price.

DeHive platform is launching its native token – DHV today. The token gives holders access to the DeHive ecosystem. It also allows to take part in protocol governance through DAO mechanisms, issue the initial DeHive Indexes, as well as create a custom one, and participate in additional protocol features.

The IDO begins on April 19, 2021, and ends on April 20, 2021. A total of 20,000 DHV are for Sale, and the price is $3 per token.

What about CERE?

Cere Network also released its native token for ICO sale today. A total of 1,100,000,000 CERE are available for investors. Cere Network is part of the consortium of projects from Cosmos and Polkadot, united by the vision of cross-chain interoperability between blockchain networks.

This network is a Customer Relation Management blockchain ecosystem in a Decentralized Data Cloud (DDC). It is specifically optimized for data collaborations and service data integration, built on the scalable platform of Polkadot.

The DDC allows stakeholders to both own and manage their data with full custody. It is the first platform that gives them 100% control over any data use.

Both DHV and CERE tokens have a good potential to make a big splash in DeFi space. Speaking of splashes, Dogecoin is not sitting still and is moving up, defying the weekend trend that sank both Bitcoin and Ethereum.

While Bitcoin plunged by 15% on Sunday, Dogecoin, with its limited use and no fundamentals, skyrocketed last week to be worth about $50 billion at one point. Demand was so great for the token that users trying to trade it on Robinhood crashed the website a few times on Friday.