Utopia Genesis Foundation is an organization focused on blockchain-enabled music Royalties platform. Utopia Genesis has announced plans to launch Genesis Yield.
According to reports, the proposed Genesis Yield from the Utopia Genesis Foundation is regarded as a next-generation blockchain initiative.
Objectives of Utopia Genesis Foundation
The foundation strives to make available the infrastructure, tools, and funding needed for the development, sustenance, and advancement of the music industry using blockchain-based technology.
The launch of the highly anticipated project follows thorough and strategic planning. Genesis Yield, the purported “next-generation” blockchain project is a staking/farming platform for its essential currency, $UOP token. Notably, the $UOP is a token offered by the Foundation to allow those in the music industry to increase their profitability. This is possible by removing conversion costs, middlemen, and other attendant expenses.
According to reports, the company will ensure that the new staking platform is introduced to its community in a way that can ease their efforts in accessing the service.
Why Is Genesis Yield Touted as “Next-Generation”?
Genesis Yield is the next ‘big thing’ in the blockchain industry expected to allow users to gain the highest possible APY on the $UOP token. The accumulation of APY is made easy with farming on the platform. It’s also much more than what traditional banks can offer with official legal tenders.
The platform facilitates earning for users staking and farming $UOP, and SLP tokens. Users at the same time get rewarded with additional $UOPs.
Staking and farming on this latest blockchain product allows users to accumulate APY on their $UOP tokens.
To participate in the $UOP Staking Pool:
- The token is available for purchase either by Bitfinex or by trading any other Ethereum-empowered token for $UOP at Sushi.com.
To engage the Yield Farming activities:
- Those who desire to be a liquidity provider; being a yield farmer, via the Foundation’s $WETH/UOP, can go to Sushi.com. Then click ” add liquidity” with Weth and $UOP, confirming the supply. Then they will get a blend of both called SLP.
At this point, users can connect both wallets.
On the $UOP Staking Pool, users can simply approve their wallet to the $UOP pool, and begin staking to earn more of this token.
With the SLP you now have through Yield Farming, on the Sushi platform, approve your wallet to the $WETH/UOP pool, and start yield farming to earn more $UOP.
Ledger previously integrated a decentralized finance (DeFi) platform, ParaSwap, into its Ledger Live app. This also allows the Ledger Live trading app give users the opportunity to access the DeFi markets using ParaSwap.
As of the time of publication, Utopia Genesis Foundation’s price was $0.196067 with a 24-hour trading volume of $22,047. UOP price also dropped 3.3% over the last 24 hours.
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