Unifi Protocol is Launching on Ethereum
Liquidity Providers benefit from Lower Network Costs
Unifi is extremely excited to bring the cross-chain Unifi Protocol to Ethereum, starting November 30, 2020! Ethereum will put a spotlight on many of Unifi’s unique features other DeFi products can not match.
- Unifi’s liquidity providers are not required to make as many transactions, meaning more of their reward can be kept by them.
- Through the rise in UP’s redemption value, transaction fees are automatically distributed to UP holders. No network fee required!
- UP does not have to be staked once earned. No network fee required!
- Unifi promises to change the Ethereum DeFi governance landscape with its advanced tokenomics model, and Proof of Stake Governance.
- Tokenized rewards backed by an only-increasing amount of native blockchain tokens power the completely sustainable liquidity mining, trading, and governance ecosystem.
- “One of the key things about Unifi is that it is built to be a sustainable system. We believe this is a big reason why we have seen the market react negatively to some other DeFi platforms” stated Juliun Brabon, CEO of Unifi. “Once token holders realize that those rewards are not sustainable, their confidence evaporates. Unifi’s tokenized rewards structure, on the other hand, is an ecosystem that compliments each other and is built to last. Proof of Stake and a sustainable token economy allows Unifi to create a system of token holders who are all advocates, because they know if the Protocol succeeds, then so do they.”
- Unifi continues to expand and include more blockchain communities. This creates unlimited liquidity mining and a variety of products and services that can be built on the Protocol.
What is Unifi Protocol?
The Unifi Protocol is a suite of non-custodial, interoperable, decentralized, and multi-chain smart contracts providing the building blocks for the next generation of Defi development. Unifi is not a clone of Uniswap or any other decentralized automated market maker exchange. It features custom built smart contracts that solve many of the limitations of Uniswap clones. Unifi’s unique token economy captures real value with every transaction made on the Protocol, completely verifiable on chain.
uTrade, the trading platform built on the Protocol, is already live and operational on several blockchains (www.unifiprotocol.com), with an active community which only grows larger with each successive launch on a new blockchain. Unifi will provide a bridge to connect the expansive DeFi market on Ethereum to the growing markets on Ontology, Binance Smart Chain, Harmony, Tron and ICON. The blockchain industry is recognizing that interoperability is the future, and Unifi is way ahead of the curve due to their extensive knowledge of cross-chain token economics.
The Unifi Protocol was developed by Sesameseed, a multi-chain staking community with over two years of experience and knowledge in navigating cross-chain functionality. The staking rewards token SEED exists on several different blockchains and can be seamlessly swapped between those chains. As a result, Sesameseed’s development team has the expertise to rapidly expand Unifi in the complex multi-chain environment.
Unifi Token Economy
uTrade is the proof-of-concept for harnessing multi-chain and multi-platform liquidity mining to power UNFI, Unifi’s Global Governance Token. Other sources of information on UNFI tokens are the Unifi white paper addendum(introduction/concepts), Proof of Stake article (staking), Litepaper (UNFI tokenomics data) and the Guide to Unifi Tokens.
Trading Rewards Bonus
Unifi believes a well incentivized community of traders and liquidity providers will create a much more rewarding experience for all users of the platform. Traders will mine a bonus reward on every trade (excluding trades involving UPeth).
UP Liquidity Mining Token
UP is the blockchain-specific liquidity mining token of the Unifi Protocol. On uTrade, liquidity providers earn a portion of trading fees from every trade in every pair. No-fee yield farming is built right into the UP token.
Here’s how it works — Every UP token is backed by the native token of the particular blockchain on which it resides. For example, UPeth on Ethereum can be redeemed for Eth, while UPbnb on Binance Smart Chain is redeemable for BNB tokens. The amount of tokens each UP can be redeemed for can only increase over time, as a portion of each trading fee is reserved to increase that redeem value after every trade. This process is completely governed by smart contracts which have passed an independent audit. UP is a long-term and sustainable liquidity rewards token on each blockchain.
This all means Unifi’s liquidity provider rewards are greater than many other DeFi products. Liquidity providers are not required to make as many transactions, meaning more of their reward can be kept by them.
Through the raise in UPs redemption value, transcation fees are automatically distributed to UP holders. No network fee required!
UP does not have to be staked once earned. No network fee required!
UNFI Governance Token
UNFI is the first sustainable DeFi token to incorporate Proof of Stake elements into its powerful DAO representative governance model. Under the UNFI PoS 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.
The Global Governance Model is designed to be cross-chain, allowing liquidity miners and users on each blockchain to participate in community referendums and governance decisions, while earning UNFI as a result of their participation. UNFI’s highly rewarding Proof of Stake Global Governance Model drives the formation of entire communities that are incentivized to advocate for UNFI to be as successful as possible.
Additional Information and Supported Wallets
Website — https://www.unifiprotocol.com/
Information/volume — https://unifi.report/
Make sure to start staking your UNFI now! Earn UNFI rewards by staking at www.unifiprotocol.com/staking
Unifi Protocol’s website can be found at https://www.unifiprotocol.com/. You can also connect to the Unifi community on Telegram, Twitter, or Medium. Developers — check out our bounty list to develop on the Unifi Protocol at https://gitcoin.co/issue/sesame-seed/Quest/1/100023698