To help users renew their investments periodically, starting today 12/07, ONUS officially launched the Auto Renew mechanism applied to the Farming Pool feature.
*Please update the application to the latest version to experience the feature.
What is Auto Renew?
The Auto Renew mechanism is applied to some Farming Pools, allowing your Farming capital to be automatically deposited into the next farming cycle as soon as the old pool period ends. The new cycle will have the same specifications (time, APY, min/max stake,…) as the original Pool cycle.
At the beginning, the Auto Renew mechanism is applied to Farming Pools VNDC – VNDC. See details at the Farming feature on the ONUS app.
For example, Farming Pool VNDC – VNDC 365 days is being applied with Auto Renew mechanism and has a withdrawal period of 7 days for each cycle.
- With the old mechanism (not applying Auto Renew), after the end of 365 days, the pool will close and users need to access the Farming Pool and withdraw assets.
- With the new mechanism (applying Auto Renew), after the end of the 365-day period, the system will automatically rotate the capital you are depositing into the new 365-day VNDC – VNDC Pool.
- Withdrawal period: The withdrawal period of this Pool is 7 days. Accordingly, within 7 days from the start of the new Farming cycle, you can choose to withdraw or continue to maintain the capital in the Pool. After 7 days, you cannot withdraw assets, you can only withdraw at the end of the next cycle.
Note: Withdrawal time is averaged between deposits, please see details at the participating Pool.
Step 1: At the Farming feature interface, select the property you want to participate in Farming, for example VNDC.
Step 2: Select Farming Pool with Auto Renew mechanism applied.
Step 3: Monitor the details of the Pool and select Deposit.
Step 4: Enter the amount of assets you want to deposit and confirm.