Introducing Reunit
I am happy to announce the launch of the project : reunit.io
Reunit has the sole objective of simplifying the lives of users, who are increasingly lost in the management of their portfolio.
The rise of alternative networks such as Polygon, Avalanche, Fantom, Binance Smart chain etc… has divided not only the available liquidity, but also the different projects (DEX for example), which makes it difficult for end users to switch between different networks.
Let’s say you want to buy a token on Polygon via Sushiswap, but your funds are on Ethereum. You must either go through a centralized exchange or use a bridge. This can be a complicated and slow task for many users who just want to be able to spend the money they have. It is even more so if your funds are divided on several networks at the same time!
Whether it is to swap, buy an NFT, add liquidity or use any other application, using all of its available funds is currently slow and complicated to set up.
The arrival of LayerZero & Stargate has changed the landscape, allowing users to transfer USDT/USDC from one chain to another in a decentralized manner and with liquidity of over $2,000,000,000 at the time of this writing.
I am convinced that the future of decentralized finance is the provision of liquidity available on all chains with a single click, and in such a way that the user no longer has to manage the configuration of the networks, the transfer from one network to another etc…
We will probably see in the coming weeks and months, the rise of multi-chain DEXs with cross-chain swapping, unified liquidity pools and the rise of multi-chain tokens called “omnitoken”, all using LayerZero and Stargate.
But what about apps that will stay on a single network? Or who will be only available on a few networks ? Is it really up to the applications to update themselves, or is an alternative solution possible? What about token transfer between users?
Reunit : One wallet to rule them all
Reunit is intended to be a multi-network wallet from the start.
Thus, the user will generate an address, which will be automatically connected to: Ethereum, Binance Smart Chain, Avalanche, Polygon, Arbitrum, Optimism and Fantom.
You will therefore be able to receive funds on any of these networks without having to manage them, and the balance will be unified.
The most interesting is yet to come.
Let’s take an example: You want to buy on Sushiswap $1000 of a token.
You have, on your address: 500 USDC on Polygon, 250 USDT on BSC and 250 USDC on Avalanche.
Without the slightest manipulation, and without the slightest change of contract at Sushiswap, the Reunit wallet will offer you to consolidate all of your funds, to then carry out the transaction you want, all in a single and unique approval.
Of course, in the background, this will generate a transaction on each of the networks used and will go through LayerZero and Stargate.
Once on Ethereum, a Relayer contract will wait for all funds to be collected in order to complete the initially desired transaction.
Example of the transaction
Tokenomics
The model will be refined and evolve, a whitepaper will be available in the coming month, but here is an overview of the initial idea:
Low fees will be charged on each transaction made by Reunit Relayer (between 0.1% and 0.5%), 50% of the fees will be redistributed to future holders of the Reunit token, the remaining 50% will be sent to Reunit’s treasury.
