Introducing $FUND
This was a long time coming and news that we had to keep under wraps while we verified our findings.
As the we approach the Genesis of the Unification Mainnet, the following actions will be executed to optimize the supply & utility of the network:
1 — Mainnet Unification will operate under a mainnet issued token named FUND. $FUND is the actual token for the project and $UND was the testnet token.
2 — $FUND has a Total Supply of 120million FUND. Details on distribution can be found here
3 — All UND in circulation (approx 45million) will be able to be swapped 1–1 for FUND — please see this article for details on how to swap UND
The reasons for this is that UND was minted as a test-coin but as it was ERC-20 and BEP-2 it was not functional on an active public network. Because of this we minted 2 Billion UND (split between ERC20 and BEP2) of these only 45,000,000 (approx) ever entered circulation with 1,955,000,000 forever sitting in cold wallets. For various reasons, including to make things very cut and dry to avoid confusion, the test-coin UND has been sunsetted and only FUND with it’s total supply of 120,000,000 will operate on mainnet.
The usage of the $FUND token is as follows: The Unification ecosystem is divided into Mainchain — the full public network and WRKChains which are independent enterprise chains that are able to properly scale at cost and resources. When a WRKChain produces a block, it will need to hash that block and send the headers to Mainchain for immutable public validation — For this they are required to submit the FUND token as tax.
With regards to current community members — practically speaking this is what you can expect.
a — as of right now we have Bitforex, Digifinex and Probit confirmed in the transition to FUND and token swap — Any UND you hold on these exchanges will automatically be converted to FUND at mainnet. Other exchanges will be announced as they are confirmed.
b- If you have self-custody of your tokens then you can perform the token swap with self custody by following these directions — all UND burnt will be issued the equivalent amount of FUND.
c — Coin Market Cap and Coin Gecko will likely not be updated right away as they always need a few days to review — although we expect them to update soon enough.
This all goes live on Mainnet- which is still scheduled for May 14th — Please get your token swap in or on one of the exchanges before then.
Note: For those looking to secure a Node on The Unification Enterprise Alliance, you can find out more info at https://unification.com/alliance/
(password: alliance)
