Sesameseed Develops the UniFi DeFi Protocol
A Protocol that Benefits SEED Holders and Developers
Key Points:
- Sesameseed is developing the UniFi protocols which will be an on-chain resource for any developer to use.
- UniFi protocols will benefit SEED holders in several ways.
- A portion of the fees generated by the UniFi protocol are automatically routed by the smart contract to market buy SEED.
- Users of the UniFi protocol will be turned into SEED holders, increasing the exposure to Sesameseed and SEED.
- Using the SEED swap feature as a bridge for cross-chain transactions creates an additional use for SEED.
- SEED is compatible with the ERC20 standard, meaning it could be used to connect the UniFi protocols with the Ethereum Blockchain.
Sesameseed’s innovative blockchain solutions naturally garner interest from parties outside the traditional scope of digital asset staking. One such project arising from Sesameseed’s unique value proposition is UniFi, the DeFi platform Sesameseed was awarded a grant to develop.
Sesameseed remains committed to its community as the foundational element in its mission for fair and democratic blockchain governance. Notably, holding SEED is how Sesameseed identifies blockchain addresses as members of the Sesameseed community. Providing increasing benefits for SEED holders is the motivating factor supporting the entire SEED rewards economy.
The UniFi protocol will benefit the Sesameseed community in several different ways.
Market Buying SEED and adding New SEED Holders
The SEED token plays a vital role in the UniFi ecosystem. A trading platform under development that will be using the UniFi protocol is uTrade. A portion of the generated revenue by uTrade will be used to automatically market buy SEED and subsequently reward that SEED to uTrade users. This feature has two distinct advantages for SEED holders.
- Sustained buy pressure for SEED on the market from a recurring revenue stream.
- Increased exposure to Sesameseed and SEED to all users of the uTrade platform. Exposure to additional digital asset holders and traders raises awareness of Sesameseed and SEED. This furthers the mission of Sesameseed and benefits the community.
Increased Demand and Utility for SEED
UniFi will be a bridge to connect the economy of Ethereum-based DeFi products to the growing DeFi markets on other blockchains. The use of SEED as that bridge for cross-chain swaps draws attention to Sesameseed and increases demand for SEED from a larger and more diverse audience. Creating varied use cases for SEED will broaden its appeal as a staking rewards token.
These benefits will occur on each blockchain
UniFi protocols are being launched on each of the current Sesameseed represented blockchains. Each platform will be connected through the SEED Bridge which is powered by the SEED swap within Sprout, Sesameseed’s staking wallet. Each blockchain will have differing tokenomics, and benefits to SEED will be included in each tokenomics plan.
It is anticipated not all features described in this article will be available at the time of the UniFi protocols’ launch. However Sesameseed looks forward to the expanded utility UniFi will provide to the SEED token, as well as additional opportunities the UniFi partnership may bring.
Read the Unifi Protocol white paper.
