Saturday, October 23, 2021

UnoRe Launches Risk Averse Staking Program - EIN Presswire - EIN News

Last updated Friday, September 24, 2021 09:00 ET , Source: NewsService

The new staking pools will offer up to 20 percent APY in USDC

The new program satisfies a need in the DeFi sector of the blockchain industry to circumvent current issues such as currency risk, overly complex strategies, tedious staking processes, and volatile markets. While it is currently possible to stake stablecoins, UnoRe takes this solution a step further by rewarding stakers with truly stable assets as well. This eliminates the currency risk that is still present in most protocols where rewards are distributed using their volatile native tokens.

Currency risk is what stakers are exposed to when their staked asset fluctuates as well as the token they are rewarded with. Similar issues are present in the phenomenon known as “impermanent loss.” By relying on stablecoins to provide liquidity to its pools, UnoRe is never affected by the extreme volatility that characterizes these assets in regular programs.

Continuing with other drawbacks, it also prevents users from getting involved in complex operations where they are not privy to how their funds are being used. It is not uncommon for protocols to use staked funds to invest in other risky and volatile assets. UnoRe’s approach even prevents users from having to deal with the obscure task of buying wrapped and native tokens in order to participate in the program.

“DeFi services need to up the ante in terms of what they can do for stakers and and our risk management solutions are key to improving this. By giving stakers the...

Read Full Story: https://www.einnews.com/pr_news/552238807/unore-launches-risk-averse-staking-program

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