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Capturing Value in ORO Token
$ORO is the governance token for OpenDeFi Finance.
Every action that we do is geared toward building an economy for ORO. It's very important for us to capture the value of $UFARM tokens in ORO.
To ensure this, we have designed a three-tiered strategy.
Short Term Strategy: Airdrop
We shall be rewarding ORO holders with $UFARM tokens. This will be further two-tiered and done every quarter for 4 quarters.
For the first quarter:
- Anyone holding 1000 ORO tokens or above from May 1 to May 16 will be eligible to claim 200 UFARM tokens.
- Anyone holding 5000 ORO tokens or above from May 1 to May 16 will be eligible to claim 1000 UFARM tokens.
Terms for the first quarter airdrops:
- The total reward pool is 5,000,000 UFARM tokens.
- Reward distribution would happen based on the top 5000 wallet addresses holding ORO tokens.
- The airdrops would be 100% unlocked.
- Users can claim their airdrops from May 17, 2021 by going on UniFarm.co.
- In order to be eligible, users need to ensure they're holding ORO for the entire duration (From May 1 at 12 PM GMT to May 16 at 23:59 PM GMT).
- Users need to hold these tokens in their own wallets and not on exchanges. Otherwise, they would not be able to claim it.
Terms for other quarter airdrops will be shared later.
Mid Term Strategy: High APY Yield
We will be setting up an exclusive pool for ORO token holders where they would be able to farm $UFARM tokens at a very high APY. The tentative date for this pool launch is the third week of May 2021. More details would be announced closer to the date.
Long Term Strategy: Buyback and Lock
UniFarm is already cash-flow positive. 25% of the revenue of UniFarm would be used to buy back ORO tokens from Uniswap and will be locked for 12 months. This shall be done after the launch of every cohort or on a monthly basis.
The locking would be on-chain and completely transparent.
Last modified 5mo ago