The explosive growth of the decentralized finance (DeFi) world in 2020 has brought a wealth of new opportunities, but also new challenges and far-reaching risks for cryptocurrency users. Due to its decentralized nature and short history, the industry is difficult to regulate and provide a safe environment for its participants.
Today, anyone with access to the internet can lend, trade, or borrow funds without the need for a third-party intermediary, and participate in the DeFi space with the help of next-generation financial tools and smart contracts built on the blockchain.
DeFi protocols include financial instruments developed to help investors maximize income and passive income, the following are the most popular:
- Staking refers to locking tokens for passive income through rewards or endorsements.
- Yield farming is a subset of staking and can be likened to earning interest on bank deposits.
- Liquidity mining is a subset of liquidity mining. In addition to transaction fees and interest on the platform's own tokens, liquidity providers can also obtain additional compensation.
However, high losses can result if the risks associated with these financial activities are ignored. Scams and canvassing can lure investors into fraudulent businesses, steal their funds and disappear. Hackers can also exploit smart contract vulnerabilities to steal user funds. Market risk resulting from highly volatile movements can damage the value of digital assets. Still, developers are working hard to bring safer and more secure investment opportunities to the blockchain.
Uno.farm is a cross-chain automated farming solution featuring automated strategies, smart analytics, and yield generator tools designed to reduce risks associated with DeFi while helping users maximize yield with the latest cutting-edge tools.
The platform helps mitigate risk by pre-vetting all revenue sources before they are offered to users. It also provides an anti-rug solution and an insurance fund to cover potential losses, and an inheritance mechanism to prevent loss of access to funds.
Uno.farm facilitates investments and saves participants time by combining complex technologies related to staking, liquidity farming, and liquidity mining into a few simple clicks. It aggregates trusted DeFi protocols across multiple blockchains and employs detailed analysis and statistics to automatically make decisions so that users don't have to manually search for the best yield opportunities. In order to better guarantee the maximum yield in the easiest way, Uno.farm has developed a feature called single asset entry and exit, which aims to simplify the user process. It was also its best result in the past 12 months. Initially, users can provide liquidity using both tokens held in the DEX, while LP tokens are transferred to the mining pool.
Uno.farm is now simplifying the process by adding the ability to enter and exit liquidity pools and Autostrats with only one token. The partnership with DeFi and DEX aggregator 1inch is critical to giving the platform an enterprise license for single-asset entry token exchanges.
Soon, adding a fiat currency gateway will allow fiat currency deposits and withdrawals. What's more, Uno.farm is also working on introducing single-token liquidity so that it can be brought into the platform from other chains. These measures are designed to lower barriers to entry and reduce the time invested in the process. In the next 12 months, Uno.farm will focus on updating Autostrats, the inheritance mechanism, and further simplify the user experience.
