Unifi Protocol (UNIFI) is launching on Avalanche!
Unifi will link Avalanche and multiple blockchains together into one large DeFi marketplace
Unifi Protocol is coming to Avalanche!
Unifi Protocol is creating a decentralized platform for seamless interoperability of Web3 applications across multiple blockchains.
Unifi Protocol has launched products such as Trading (uTrade) and Staking (uStake) which in combination are already live on 8 other blockchains, including Ethereum, Binance Smart Chain, Harmony, IoTeX, and others. Other products such as lending and cross-chain bridging are in development. More recently, special edition NFTs were introduced on Unifi Protocol on Ethereum. Unifi will link Avalanche and these products across multiple blockchains together into one large DeFi marketplace, governed by the community through the UNIFI token.
Unifi will link Avalanche and these products across multiple blockchains together into one large DeFi marketplace, governed by the community through the UNIFI token.
Integrating with Avalanche will enable reduced gas fees, faster transactions, more staking options, and a seamless experience for Unifi users. Unifi will also benefit from the thriving ecosystem being built on Avalanche, making Avalanche a perfect environment for attracting developers. uTrade’s unique fee structure — 100% of trading fees goes to liquidity providers — makes it a more rewarding place to launch new tokens.
Continue reading to see how Unifi Protocol benefits all AVAX holders, even beyond the DeFi community.
Features of uTrade V2 on Avalanche
Unifi Protocol has already launched on eight other blockchains at this time. Testing for uTrade V2 on Avalanche has been completed and the trading platform is expected to go live in the coming weeks. Make sure to follow Unifi Protocol social media channels for updates on launch dates, and live product demos.
Make sure to follow Unifi Protocol social media channels for updates on launch dates, and live product demos.
At launch, uTrade on Avalanche will be compatible with Metamask. The base token in which all trading fees will be collected is AVAX.
The upgraded smart contracts for uTrade V2 showcase many new features. These include:
- Single side liquidity addition
- User added listings
- Token routing
- Developer-friendly, customizable smart contracts for launching new tokens and projects
All of these features and more are discussed in depth in our uTrade V2 Features article.
The UNIFI Global Governance Token will guide Unifi’s growth on Avalanche
The entire multi-chain and multi-product Unifi ecosystem is governed by the UNIFI token. The UNIFI token also grants special access to features and rewards only available to UNIFI holders.
1. For all Unifi services such as trading and blockchain node staking, or even lending and cross-chain bridging, UNIFI is the governance token. UNIFI holders can create and vote on community referendums as well as respond to UNIFI core referendums on Protocol development, forming the early stages of a UNIFI DAO. UNIFI holders govern the Protocol and is how Unifi recognizes and listens to its community. The goal is for Unifi Protocol to become a fully public and open-source DAO.
2. UNIFI Super Pairs are established on each uTrade V2 blockchain and are only accessible to UNIFI holders. This also means the UNIFI token will be bridged to each Unifi blockchain at future events hosted by Unifi. UNIFI Super Pairs farm liquidity rewards from the volume of the Super Pair, and a bonus percentage of fees collected from other pairs on that blockchain. Super Pairs can also receive bonus rewards from other Unifi actions or other revenue generated on that blockchain.
3. Staking UNIFI tokens provides access to some of the best staking rewards anywhere. Staking UNIFI has historically yielded as high as 39% APR, but is currently capped at 32% as a direct result of a recent referendum voted on by UNIFI holders. UNIFI staking also has the unique feature of a rising APR as more UNIFI are staked.
Unifi Protocol benefits all AVAX holders
- Tokenized Liquidity Rewards — 100% Backed and Immediately Redeemable
Unifi’s tokenized liquidity rewards model has the potential to benefit holders of AVAX since the liquidity reward token is 100% backed by an ever-increasing amount of AVAX tokens from trading fees on the platform. This essentially locks up more and more AVAX in smart contracts, removes them off centralized exchanges, and takes them out of circulating supply. This is very different from other platforms which do not provide this benefit to AVAX holders.
- Community Focus — 0% for the team, 100% for the liquidity providers
uTrade V2 has the unique characteristic of taking a 0% cut for the team. uStake, as well, offers 100% rewards back to its stakers whenever possible. For example, the Unifi Protocol node is offering 100% rewards on Ontology, IoTeX, and Tron, and 95% on Harmony, the maximum allowable rate on that blockchain. Meaning, Unifi is entirely community-focused, with the entirety of trading fees going to liquidity providers and almost all node rewards going to stakers. This results in very competitive rewards for liquidity providers and Unifi stakers on Avalanche, which encourages growth and increased usage on the network. By making use of Unifi Protocol’s customizable and developer-friendly smart contracts, the growing list of projects and tokens on Avalanche can integrate seamlessly with a flourishing DeFi marketplace.
More Information
About Avalanche
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don’t believe it? Try Avalanche today.
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About Unifi Protocol
Unifi Protocol is creating a decentralized platform for seamless interoperability of Web3 applications across multiple blockchains. uTrade is Unifi’s trading platform for harnessing multi-chain swaps and liquidity farming to power UNIFI, Unifi’s Global Governance Token. uStake is Unifi’s staking service on multiple blockchains offering 100% node rewards back to stakers wherever possible. Unifi Protocol is innovative, agile, and making Web3 accessible to everyone.
Website |Twitter| Telegram | Reddit | YouTube |GitHub| Documentation|Governance
Stake UNIFI, earn rewards, and be part of the Global Unifi Protocol DAO governance. https://gov.unifiprotocol.com/my-dashboard.
For additional information on forming partnerships, developing on the Unifi Protocol, or using Unifi Protocol to support your project’s goals, email us! contact@unifiprotocol.com
Communications from Unifi are subject to Unifi’s standard terms and conditions, which can be found here.
