UNION — UNN Sale, Geyser, Roadmap, Best Practices

UNION is thrilled to announce the official date of the UNN token sale — November 22, 2020. The sale utilizes a linear pricing model and invites the Decentralized Finance (DeFi) community to join us as we build the open asset protection platform on Ethereum that reduces risks, barriers to access, and costs for a wide variety of market participants.

UNN Sale + Preregistration

Details about the UNN Token Sale:

  • Expected Start Date: Sunday, November 22, 2020
  • 50M UNN tokens for sale (5% of total supply)
  • Starting price: $0.035
  • Ending price: $0.50
  • Minimum purchase: $100
  • Maximum purchase: $87k
  • KYC is required
  • You will need a Metamask account
  • Restricted countries: The United States of America, The Cayman Islands, New Zealand, Canada, People’s Republic of China, Singapore, Republic of Korea, Belarus, Burundi, Central African Republic, Cuba, Iran, Libya, Democratic People’s Republic of Korea, Somalia, Sudan, Darfur, Mali, Republic of Guinea, Republic of Guinea-Bissau, Syria, Venezuela, Zimbabwe
  • No UNN sale participant or token holder will be able to sell or transfer their tokens until the sale has concluded.

Characteristics of UNN

  • 300 million UNN provisioned for the network, ecosystem, and marketing. Examples include bug bounties, audits, community outreach, development of future products, etc.
  • 93.333 million UNN have been sold in the first round, sold at $0.0075 / UNN
  • 200 million UNN have been sold in the second round, sold at $0.0125 / UNN
  • 43.2million UNN have been sold in the third round, sold at $0.025 / UNN
  • 113.467 million UNN reserved for the treasury.
  • 50 million UNN provisioned for the November 22, 2020, UNN sale.
  • 200 million UNN reserved for the team and advisors.

Token Locks

UNN + pUNN + uUNN

Geyser

  1. The program will run for 1 year with 3-month phases.
  2. Phase 1: 20% APY for 3 months.
  3. Phase 2: To be announced.
  4. The launch pairs on Uniswap will be UNN/ETH and UNN/USDT.

Voluntary Lock Incentive

  1. The lock-up periods will be instituted based on limited windows of specific days. Locks will be offered in 30, 60, and 120-day terms. The goal is to encourage the alignment of incentives for the community in the long-term.
  2. The locked balance will be compounded daily and deposited (locked) into their wallet.
  3. Once the lock is lifted, the purchaser can exchange/send all tokens (original amount + interest).

Protection Writer (pUNN) Incentives

  1. 80% of the premium paid by buyers of protection offered by the protection pool. pUNN will receive the payment in whatever the premium token is. As per the whitepaper, we will start with accepting payments in stablecoin, like DAI.
  2. The remaining 20% will be split as such:
  3. 10% to a reserve fund for the pool, aka the “rainy day” fund.
  4. 10% as foundation operations and reserve pool.
  5. 50% of returns generated by reserve pools for the pUNN’s protection pool, which hold funds in excess of MCR for said pool.
  6. The remaining 50% will be split as such:
  7. 40% deposited back into the reserve fund.
  8. 10% as foundation operations and reserve pool.

Future Incentives

  1. Governance: in tandem with our products going live, we will launch our governance incentive where UNN holders can lock their tokens for voting power and boosts to staking and/or pool returns.
  2. Lending: to launch in tandem with our OC protection. People can borrow against their UNN holdings.
  3. Other: we will run discretionary incentives and governance voted incentives as suited for the benefit of the ecosystem.

Roadmap

Q4 2020:

  • UNN Sale
  • Private Development / Testing
  • DAO strategic partner acquisition

Q1 2021:

  • Production launch of Smart Contract Protection
  • Production launch of Over-Collateralization
  • Lending program
  • Governance launch

Q2 2021:

  • Production launch of Single-Step Gas Protection
  • Production launch of Layer-1 Protection (Protocol TBD)
  • A secondary market for protection

H2 2021 and beyond:

  • Advanced models for better risk management/pricing
  • New Protection: Multi-Step Gas, Bundled, Impermanent Loss (IL)
  • Expanded Protection coverage
  • Protection / Risk Management analytics for institutional entities

UNION Best Practices & Compliance Standards

  • Thorough KYC/AML is required for all UNN sales. This prevents wallet taint from funding not recorded on the blockchain prior to the token sale as well as validating purchasers during the token sale. UNN utilizes the expertise of 3rd party KYC/AML parties to ensure the security and sanctity of funds received.
  • Multi-Vector KYC/AML — Liveliness, documents, and mobile phone verification. We utilize a 4-point check, including liveliness, which detects whether the person in front of the camera is real or just a picture of a picture.
  • GDPR Compliance — We maintain data using Cayman Data Retention Standards with the view to meeting GDPR compliance requirements. We have invested heavily in network and server security infrastructure, including intrusion detection, and system/network monitoring for all systems that collect and maintain purchaser data as part of the sale.
  • Geofencing — Our token sales site is geofenced, meaning that connection (and participation) to the sale are blocked from restricted countries. These include:
  • The United States of America, The Cayman Islands, New Zealand, Canada, People’s Republic of China, Singapore, Republic of Korea, Belarus, Burundi, Central African Republic, Cuba, Iran, Libya, Democratic People’s Republic of Korea, Somalia, Sudan, Darfur, Mali, Republic of Guinea, Republic of Guinea-Bissau, Syria, Venezuela, and Zimbabwe
  • Wallet Check — We vet wallets to ensure they are not a party to illicit activity.

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UNN Finance

UNN Finance

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Building a set of tools to create a complete ecosystem, specifically designed for DeFi