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Sesameseed Blog

UNFI Joins the SEED Rewards Economy

The Sesameseed community is rewarded for their continued support

Key Points:

  • Sesameseed fulfills commitments made to the community
  • 5 tokens in the redeem value of SEED in 2020!
  • Unifi Protocol would not exist without support from the Sesameseed Community
  • At least 75,000 UNFI will be provided by Unifi
  • UNFI will be placed into the redeem value of SEED
  • UNFI will be placed into the redeem value over approximately the first half of 2021
  • UNFI in the SEED redeem value will be staked in the UNFI Proof of Stake-style Global Governance Model (GGM)

Sesameseed began as a social media post in April of 2018. The vision of assembling a community founded on collective trust, transparency, and community representation was unique in the blockchain space. Since its inception, Sesameseed has stood out as a trusted voice for leadership, innovation, and finding a way to align the interests of an entire community behind common goals. This community centered approach allowed Sesameseed to develop in ways other projects could not. Believers from the community became a core team, providing their broad range of skills to further that vision. Core community members became familiar friends, trusted advisors, and community advocates. Bonded together behind the tokenization of those aligned interests, the community all rallied behind SEED as it evolved into the embodiment of the trust established by the collective community.

The Sesameseed community has seen many achievements over its lifetime. Sesameseed has been an instrumental part of launching two blockchains and their governance systems (Tron and Harmony), redesigned a custom blockchain governance contract for yet a third chain (Ontology), became a Main P-Rep on ICON, launched the Ontology DEX, and created a multi-chain wallet and SEED utility (Sprout).

SEED has made advancements as well over the years. It expanded from only one blockchain, to become the one-of-a-kind multi-chain rewards token it is today. SEED is one of the most widespread and widely traded tokens on each blockchain where it exists. The Sesameseed community has shown that while most blockchain communities are limited to one chain, Sesameseed and SEED are able to bridge that gap and combine multiple blockchain’s communities together. The Sesameseed community has accelerated other blockchain projects, created community tools, and been a voice for blockchain education. This while providing a safe and family friendly environment, a rarity in the unregulated blockchain space.

In one its largest achievements to date, Sesameseed developed the still-expanding Unifi Protocol. Unifi has launched its AMM platform uTrade on 6 blockchains in just 4 months! The Protocol’s Global Governance token, UNFI, was also introduced to the world as a featured listing on Binance Launchpool! UNFI reached top 200 market cap status within a month of launch, and has made Sesameseed a well-known name in the blockchain world.

Unifi was a large undertaking and required a great deal of community trust and support as resources were dedicated to the project. As Unifi continues to expand, its success continues to benefit the Sesameseed community through introductions to great partners and creating opportunities that previously seemed unachievable.

UNFI will be Added to the SEED Redeem Value

UNFI is the Global Governance Token for the Unifi Protocol. Under the UNFI Proof of Stake ecosystem, candidates for the Unifi Council of Representatives will campaign for election as a Council Representative. Council Representatives will have the ability to propose or vote on changes to the Unifi DAO while earning Governance Rewards. UNFI token holders can earn Staking Rewards for staking their UNFI tokens, and may earn even more rewards from their chosen CR after delegating their staked UNFI.

Unifi recently announced it would be providing Sesameseed with allocations of UNFI tokens over approximately the first half of 2021. These tokens are not rewards for being a Designated Council Representative, but are a recognition of the support that enabled the development and launch of Unifi. Honoring its continuing commitment to transparency, Sesameseed is releasing additional information to the community about this allocation of UNFI.

Unifi has committed to provide at least 75,000 UNFI to Sesameseed during this timeframe. With extreme gratitude for the support shown over the last two and a half years, Sesameseed will be placing 100% of these UNFI allocations into the redeem value of SEED. The exact times and amounts of UNFI placed into SEED’s redeem value will depend upon the times and amounts of UNFI received from Unifi. This information is not yet available.

Adding UNFI to SEED’s redeem value will have a significant impact on the overall redeem value of SEED. The redeem value of SEED, and the balance of values of all native tokens, are components of the SEED Minting and Distribution System. The addition of UNFI will alter these values and is anticipated to change the number of SEED rewarded to stakers and SEED holders.

UNFI joins TRX, ONT/ONG, ONE, and ICX as the 5th token in the SEED rewards ecosystem.

Compounding Rewards

A portion of the UNFI in the redeem value will be staked in the Unifi Proof of Stake governance model and earn SEED holders compounding rewards, in a similar manner as the other native tokens in the redeem value. Sesameseed will evaluate if delegation of the UNFI in the redeem value to one or more CCRs is appropriate sometime after delegation is open.

SEED and the Unifi Token Economy

Adding UNFI to the redeem value benefits the Sesameseed community in other ways as well. The majority of traders on uTrade are earning SEED as a bonus reward. SEED will now become even more desirable as a token that earns compounding UNFI rewards from the Protocol’s GGM while also automatically compounding staking rewards from multiple blockchains.

All SEED holders on any blockchain will benefit from this addition of UNFI into the redeem value, aligning the Sesameseed community behind the continued success of the Unifi Protocol. Integrating 3 new tokens into the SEED rewards economy this year has been a tremendous accomplishment. Sesameseed is very grateful to its community for the continued faith, trust, and support. We all look forward to the year that is to come, the challenges and opportunities it will create, and the unexpected wonders it might hold.

Learn more about Sesameseed on our website. Connect with us on Telegram, Twitter, Reddit, Facebook, Instagram, LinkedIn, YouTube, and Medium.

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