Why Most Crypto “Partnerships” are Vapor and How We Are Doing It Differently
Before we introduce our powerful new partnership with Finchains, we need to take a moment to set expectations clearly on what the word “Partnership” means at Unification.
Clear and dry, clear as day — when we say “partnership,” we mean:
this entity is going to be consuming FUND starting today and we will tell you exactly how much.
Think about that for a moment. In crypto, many people have been “trained” to believe that a partnership means adoption of the native coin, which means the “partner” will have to buy the coin off the market and make the price go up.
Not a bad meme. In fact, I’d even call it good. But as we have learned, I have not to this day heard of any “partner” on any project who has bought a significant amount of coins for any project off the market as a result of the partnership.
In its place, we get the spiel about “proof of concept” or “interoperability” or “one day this may happen” or, even better, “we are deploying on their cloud computing platform.”
But seriously — this stuff “makes the price go up” despite have absolutely zero to do with any fundamentals — Crypto for the most part is still in a world where we are betting on horse racing futures that never actually happen and value is gained from this speculation
And sure, for some, this is great — people gunna hustle and make money — never hate the player who plays the game well, as they say.
However at Unification — we are changing the game
We are, as of today, redefining what it means to create value in Blockchain. Remember, the entire reason we are here is adoption — people actually using the coin.
Yah — so we “missed” the big gold rush of 2017 and didn’t have people throw 30M dollars at us for a whitepaper and that’s fine. Having previous success in the tech industry, we didn’t show up to cash out — been there, done that — we showed up to change the world vis-a-vis revolutionary blockchain technology.
At Unification HQ, when we define our success criteria, our vision strives for the creation of a publicly adopted decentralized network that is the perpetual “Noah’s Ark” of data. We don’t believe in “more coins” or “partnerships” or getting “more exchange listings” (although that seems to happen naturally with adoption and community) for the sake of appeasing speculative traders.
We actually built FUND as a public blockchain that is to data what Ethereum is to DeFi — ie. the standard bearer.
So every single partner that we announce, and some may be big, some may be small, some may be very useful (as is the one today), we pledge to provide you with the following information:
1 — Who they are
2 — How exactly they are using a WRKChain/BEACON — including a link to public assets if these are available (not all of them ours, some keep their WRKChain data private- others do not)
3- Exactly how much FUND they are consuming STARTING TODAY and how and where they acquire this FUND.
We cannot expect other blockchain “projects” to do the same, but we hope by setting the standard — others will follow and raise the bar for the industry which will quickly expose the real players from the charlatans.
Remember that the FUND Public network has exactly 0% inflation and the foundation has the ability to mint and distribute in a locked format up to 10M FUND per year for 9 years.
This brings the maximum total lifetime supply to 210M in 2029. Any amount beyond 10M per year needs to be market bought.
The first partner, Finchains, is consuming 600k FUND per year. We are playing Moneyball here. Strap in.
Introducing FINCHAINS: The Fully Transparent and Decentralized Price Oracle for Quants and Arb Traders.
The first WRKChain called Finchains.io (best viewed on desktop) was deployed earlier today at 16:02:52 UTC on May 26th 2020 — and is the culmination of a collaboration with a collective of active Quant traders.
The purpose of Finchains it to provide transparent decentralized price oracle data for traders in a number of industries. Specifically the function
1- Take snapshots of certain price indexes across multiple exchanges
2- Compare these price for discrepancies and slippage
3- Maintain an immutable and historical on chain record of all of these prices.
How this can specifically be used is traders can query the smart contract and find historical slippages between exchanges and set their trading algos armed with this knowledge. The Price Oracle does offer near real time data, but is more focused on being a decentralized storing house for this data rather than trying to compete to be nano-seconds faster with current data feeds
For example see here
First thing you need to know is all the columns are sortable (just click) — you can see that there was around a $198.74 difference in price of BTC around 03.32 UTC between Bitfinex and Probit. This is not much to note after the fact, but by querying the smart contract and analyzing the data- then profitable trading bots can be built.
or see here for example:
Technically speaking how it works is that Finchains is an independent WRKChain — which is registered to the FUND Mainchain. WRKChains can be more or less private chains which gives them the advantage in scaling horizontally — however in order to maintain immutability, the WRKChain then will timestamp at a fixed interval to Mainchain — the current cost of time stamping is 1 FUND per stamp. There is a block produced on Mainchain every 5 seconds — however it is not required to stamp that often. In the case of Finchains they are stamping once a minute.
This comes out to approx 600k FUND cycled into the system per year. You can see the on chain enterprise purchase order and here is an example of the WRKchain paying 1 FUND into the ecosystem for a stamp on block 205068 mined by SatsangG
For the specifics of Finchains, we can say that this is still a day 0 release with many features and documentations to be added. For now it works on BTC and other top coins (including FUND) and the top exchanges and a few others for contrast. very shortly we will be adding more exchanges and pairs and there is a form linked on the page if you would like us to add your exchange or asset.
Furthermore — we are also in progress of adding separate sections for both energy and FX. We will dedicate another post to Finchains once the full feature set and documentation is released, however developers are able to query the onchain smartcontract — more technical details are in this article
WRKChains — Expectations and going forward
We tell people directly- we are not playing the “partnership” game for the news — we are focused on bringing usage onto the FUND Mainchain. As we stated earlier — this game is moneyball — meaning we don’t go for the homerun, but continually stack the odds in our favor through small and consistent wins.
Today we deployed FinChains — that is 600k FUND into the ecosystem,. Next week we have a BEACON release in the ticketing sector that will consume FUND on a daily basis.
The old saying goes, you do not need to outrun the lion- you just need to be faster than the guy next to you.
For more information on Unification please visit www.unification.com