UNFI Staking on Ethereum — First-Come First-Serve: January’s Space is Limited!
By: Unifi Protocol
Tags: Latest News, Staking, Most Recent News, Unifi, Unfi

Earn up to 40% APR — Rewards for stakers increase as more UNFI gets staked

A maximum of 500,000 UNFI tokens can participate in this initial staking event, so be sure to have that UNFI ready for the new year!

Key Points:

**** STAKING IS OPEN *********

UNFI Staking on Ethereum — https://gov.unifiprotocol.com/my-dashboard

The 2000 UNFI loyalty staking bonus reward is underway! Please see this article for details on this giveaway.

UNFI staking on Ethereum begins on January 1, 2021.

During this event, the minimum APR on UNFI staking is over 10%. As the amount of UNFI staked increases, the APR on all staked UNFI increases with it. At the maximum of 500,000 UNFI staked, the APR will be approximately 40%!

The staking event with its associated promotions as described in this article are available from January 1, 2021 until January 31, 2021.

A maximum of 500,000 UNFI will be able to participate in the January Ethereum staking event. Once 500,000 UNFI are staked, no more UNFI can stake until someone unstakes and makes room!

As the amount of staked UNFI increases, staking rewards for all staked UNFI increase.

UPDATE:The Binance Smart Chain UNFI staking event is now complete. Claim your staked UNFI at https://gov.unifiprotocol.com/my-dashboard

UPDATE: Functions and utilities described in this article will go live in phases. Some features may be available prior to others. Transfers and Migrations must be processed before the balance will be displayed as pending balance. A pending claim displayed as zero means that UNFI for that address have not yet been processed.

UPDATE: The Binance Smart Chain BEP20 UNFI to Ethereum ERC20 UNFI transfer is now open for deposits. https://unifiprotocol.com/transfer/

UNFI Staking on Ethereum Begins January 1, 2021

As a special Binance Launchpool listing event, UNFI holders were able to earn promotional staking rewards on Binance Smart Chain. This BSC event will end in 2020 and be replaced on January 1 2021 with UNFI staking on Ethereum. Ethereum staking is the next step in preparation for the launch of the UNFI Proof of Stake Global Governance Model (GGM).

Limited Space is available!

There are often great things that come from being first, and being among the first into UNFI staking on Ethereum is no exception. But all good things also have limits, so for the month of January, only 500,000 UNFI will be allowed to participate. Once 500,000 UNFI are staked, no more UNFI can stake until someone unstakes and makes room!

Increasing Rewards as more UNFI is staked on Ethereum

With typical staking, as more tokens are staked, the rewards for each token UNFI staked decreases. This staking event on Ethereum will be the complete opposite — as more UNFI tokens get staked, the rewards for each UNFI staked will go up! Each additional UNFI staked earns higher and higher rewards for every UNFI staked.

For example, at 100,000 total UNFI staked, the APR per each UNFI staked is just over 10%.

By 300,000 total UNFI staked, the APR increases to almost 25%. Each participant in the event is now earning more UNFI as more total UNFI gets staked.

At the maximum total amount staked of 500,000 UNFI, rewards will have almost quadrupled to nearly 40% APR. It is in everyone’s best interest to ensure the maximum amount of UNFI is being staked on Ethereum.

Moving UNFI from BEP20 (Binance Smart Chain) to ERC20 (Ethereum)

To claim UNFI staked on BSC: https://unifiprotocol.com/staking/

UNFI official blockchain addresses:

ETH — 0x441761326490cacf7af299725b6292597ee822c2

BSC — 0x728C5baC3C3e370E372Fc4671f9ef6916b814d8B

At the conclusion of the BSC staking event, BEP20 UNFI on BSC will need to be moved to Ethereum if the user wants to continue to participate in UNFI staking.

ERC-20 UNFI holders will need a compatible Ethereum wallet where they hold the private key. Staking UNFI from a Ledger is available through the Metamask hardware wallet integration. The wallet address to be used for staking will also need some amount of ETH to pay network costs.

For those currently participating in the BSC staking event, or holding BEP20 UNFI on BSC, there will be two ways to move their UNFI to Ethereum.

Unifi recognizes that some UNFI holders may not wish to use the Binance exchange to transfer their UNFI from BSC to Ethereum. Unifi will be providing a utility to facilitate this transfer. There will be no transfer fee charged by Unifi for this process, however network fees may apply. https://unifiprotocol.com/transfer/

This utility will be available prior to the start of staking of January 1, 2021.

From January 1 to January 3, 2021, this transfer can take up to an average of 12 hours to complete. (Actual times may vary and could be longer.)

From January 3 to January 7, 2021, this transfer can take up to an average of 24 hours to complete. (Actual times may vary and could be longer.)

After January 7, 2021, this transfer utility may be available on a periodic basis as announced by Unifi.

The claim function for UNFI transferred from BSC to Ethereum will be the same as the claim function for UP migration. If UNFI is transferred to the same Etheruem address provided for the UP migration, both UNFI balances can be claimed at the same time with only one network fee.

UPDATE: These functions will go live in phases. Some features may be available prior to others. Transfers and Migrations must be processed before the balance will be displayed as pending balance. A pending claim displayed as zero means that UNFI for that address have not yet been processed.

2. For those who want a faster transition time, and are satisfied with Binance withdrawal fees, UNFI can be transferred to Ethereum via a Binance exchange account. BSC UNFI can be deposited as a BEP20 token into the Binance exchange, and then withdrawn as ERC-20 UNFI on Ethereum.

Select Ethereum as the Transfer Network

To use Binance exchange to transfer UNFI to Ethereum, login to your Binance account. Deposit the BSC BEP20 UNFI into your Binance account. On the wallet tab, click the withdraw button. Select UNFI from the drop down menu as the token to be withdrawn. Select Ethereum ERC20 as the transfer network. Enter the Ethereum blockchain address where you want to receive the UNFI. Be sure this address is associated with a Unifi supported wallet, such as Metamask or Mathwallet. Ledgers can be used to stake via Metamask. Information on supported wallets can be found here.

2000 UNFI January Loyalty Bonus

There will be 2000 UNFI up for grabs in a special loyalty rewards promotion. Subscribe to Unifi’s social media to ensure you get the details.

UPDATE: Please see this article for details on this giveaway!

GGM launch open for community input

As described in the Global Governance Model Launch Framework, the GGM will launch in phases. The order and process of this phased launch are still open for community input and discussion in Unifi’s subreddit.

Details and Conditions

APRs described are measured in the number of tokens issued as a reward in relation to the amount of tokens staked by an address. As used in this article, APR is in no way a reflection of any direct or implied value to the tokens.

All times mentioned in this article are approximate and based on an average amount of Ethereum blocks per month. All numbers provided in this article may be rounded for ease of communication and are for example purposes only and not a guarantee of actual results.

All terms or information described herein are subject to change, and this article may be revised at any time, without notice, to reflect the most current information. Participants in UNFI staking should confirm their information is current prior to participation.

UNFI staking, promotions, and BSC to ETH transfers are beta products and any result is not guaranteed. Unifi can not retrieve UNFI made claimable at an address where the user does not hold the private key. Unifi is not responsible for any loss associated with using Unifi Protocol or any of its utilities. All actions described are voluntary actions taken by the UNFI token holder at their own risk. In the event of any discrepancy or misunderstanding, decisions made by Unifi will be considered final and binding.