UMI Staking and Farming coming to Sora Network

UMI Staking and XOR/UMI Liquidity Farming will be available on Sora Network via the Demeter Dapp from team Ceres

On Friday 3rd June 2022, the first round of UMI staking and liquidity farming will become available to SORA community on the Demeter Farming Dapp. There will be a total of 3,000,000,000 UMI paid in rewards to farmers who stake on the Demeter dapp. 67% of the reward allocation will go to XOR/UMI Liquidity farming and the remaining 33% will go to UMI single side staking. Thus, users will have two choices to stake their UMI and gain rewards;

Option 1: Single sided UMI Staking

Stake UMI and earn UMI

Reward Pool: 1,000,000,000 UMI

Duration: 208.333 days

Option 2: XOR/UMI Liquidity Farming

Stake XOR/UMI Liquidity and earn UMI

Reward Pool: 2,000,000,000 UMI

Duration: 208.333 days

There are 14,400 blocks daily on SORA. Umi Digital will pay 1000 UMI tokens per block in rewards to Demeter farmers. That means a total of 14,400,400 UMI will be paid daily in rewards.

Calculating APR

The Annual Percentage Rate (APR) is the reward paid each year to farmers expressed as a percentage. APY can be calculated using the following formula below;

There is a total of 5256000 blocks (14,400 * 365) on the SORA network every year. Let’s work out the APR for the XOR/UMI Farming Pool with $10,000 usd Liquidity in pool and the current $UMI usd price:

This gives a APY of 301.442112%