$ORO Token Comes to Binance Blockchain
Binance continues to confirm its position among the top three cryptocurrencies. In fact, Binance is benefits immensely from the high gas fee of its two major rivals bitcoin and ethereum. The reason is that people opt for a cryptocurrency that has low transaction fee. Human beings are rational, thus whenever making investment decisions they weigh the expense side.
Posting on its website, UniFarm announced on 19 April 2021, that its major internal token ORO is coming to Binance Smart Chain. The company did not hide its major reason for that: it is the low transaction fee which Binance offers.
The UniFarm spokesperson said, “Now, gas fee won’t be the issue for you any longer. Moreover, this tie up makes $ORO available for Binance community as well.”
As a matter of fact, OpenDeFi introduced the ORO token way back, but it was on the Ethereum blockchain. Due to the ever-increasing gas fee on Ethereum, a change was made, something well-received by the growing Open DeFi community.
Maybe there is someone out there who does not know what ORO is. Here is additional information.
What is the ORO token?
ORO is a native token for OpenDefi. Especially, it is for its investment bank, OroPocket. Therefore, ORO powers the entire OpenDefi protocol.
OpenDefi: OpenDefi is a protocol that connects the decentralized financial services to centralized ones, opening great opportunities. Its main focus is to tokenize real world assets such as silver and gold. In essence, OpenDefi has got two main products, OroPocket and UniFarm.
OroPocket: OroPocket is OpenDefi banking platform which deals with various assets including Art, Energy & Oil, Wines & Whisky, Patents & IPRs, Equity Stocks, ESOPs & SAFEs, and ETFs.
UniFarm: UniFarm is a platform where investors can stake one token and earn many. Currently if someone stakes ORO token he/she earns five tokens. These include Matic, CNTR, REEF, ORO and FRONTIER. The different cryptocurrencies form a cohort, which is a group of projects that join together for a pool.
Therefore, UniFarm remains one of the most attractive investment opportunity in the crypto world. Its motto is: “Farm One, Farm All. “ In simple terms, if an investor stakes ORO token, he will receive FRONTIER, CNTR, REEF, MATIC and ORO itself.
This hedges the investor on price volatility. This is because it is highly unlikely that all the 5 will experience a down trend at the same time.
The good news
The best news the OpenDefi community received in 2021 is the migration of ORO to Binance Smart Contract. Apart from other incentives which Binance offers, ORO users benefit from low transaction fee.
I am Mashell Chapeyama, a crypto writer, analyst, and researcher. My burning interest for cryptocurrencies and the blockchain makes me willing to share the knowledge I have gathered over the past 10 years with crypto enthusiasts around the world.
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