Binance has officially introduced Unifi Protocol DAO (UNFI) as the 8th project on Binance Launchpool, allowing users to farm UNFI tokens by staking supported cryptocurrencies. The project focuses on multi-chain DeFi solutions powered by smart contracts.
Through Launchpool, users can stake BNB, BUSD, or ETH into separate pools and earn UNFI rewards over a 30-day farming period.
What is Unifi Protocol DAO (UNFI)?
Unifi Protocol DAO is a decentralized finance (DeFi) ecosystem designed to provide cross-chain functionality, improved liquidity solutions, and decentralized governance. The protocol aims to connect different blockchain networks while offering staking and yield-generation opportunities.
UNFI Launchpool Details
- Token Name: Unifi Protocol DAO (UNFI)
- Total Supply: 10,000,000 UNFI
- Launchpool Rewards: 400,000 UNFI (4% of total supply)
- Initial Circulating Supply: 2,258,333 UNFI
- Farming Period: Nov 14, 2020 – Dec 14, 2020 (UTC)
Users can participate by staking supported tokens without any upper staking limit.
Supported Staking Pools & Reward Allocation
Binance divided farming rewards across three pools:
- BNB Pool: 280,000 UNFI (70% of rewards)
- ETH Pool: 80,000 UNFI (20%)
- BUSD Pool: 40,000 UNFI (10%)
Rewards are distributed daily and calculated based on hourly snapshots of users’ balances in each pool.
UNFI Trading on Binance
After the farming launch, Binance scheduled UNFI to be listed in the Innovation Zone with the following trading pairs:
- UNFI/BTC
- UNFI/BNB
- UNFI/BUSD
- UNFI/USDT
This listing gives early farmers the opportunity to trade their earned tokens once the market opens.
How Launchpool Rewards Work
Participants should understand these key mechanics:
- Hourly snapshots determine reward distribution
- Rewards accumulate continuously and can be claimed anytime
- Users can unstake their funds instantly without delays
- Staked BNB still qualifies for standard Binance benefits like airdrops and VIP perks
- Tokens and unclaimed rewards are transferred automatically to Spot wallets at the end of the farming period
