Arbitrum, now you see me!
TL;DR Week of July 19
It has been more than 2 months since we passed UIP-4 to launch on Arbitrum and deployed our contracts there.
As our community knows, since we initially announced our plan to launch on Arbitrum, we have been focusing on three aspects of the protocol:
- Security,
- Tokenomics, and
- Cross-chain protocol design
Security
We went live at the end of June with our early warning intelligence and the TimeLock smart contract. This is implemented in partnership with Ancilia Inc, a Web3 cybersecurity company, whereby Ancilia monitors and provides early warning for any suspicious activities on all transactions on BNB Chain by any smart contracts owned and operated by Uniwhale. This is then combined with a TimeLock smart contract which prevents a potential attacker from withdrawing from the protocol. The combination of the early warning intelligence and the TimeLock smart contract thus protects our community from substantial unauthorized or exploit-driven withdrawals from the protocol. For more details, please visit https://docs.uniwhale.co/security/early-warning-and-timelock and https://ancilia.ai/ for more information.
The same security measures will also be implemented for our contracts on Arbitrum.
Tokenomics
We are in the middle of upgrading Tokenomics after UIP-6 was approved by our community.
UIP-6 addresses some of the key concerns our community has on the existing tokenomics and look to achieve a more coherent tokenomics with the following goals:
- Protocol revenue directly drives both esUNW and UNW.
- UNW and esUNW complement and create a positive feedback loop.
- Emission is used more effectively to drive revenue higher.
creating the following Flywheel:
An important point when it comes to Arbitrum launch is that,
- esUNW, as Uniwhale’s governance token, is native only on BNB Chain, and
- when the cross-chain Fee Vault launches, the accrued Fee Vault on Arbitrum up to that point will be mapped proportionally to all esUNW holders.
This means that the intrinsic value of each esUNW will map to not only the Fee Vault on BNB Chain, but also that on Arbitrum and all other chains we will be expanding to.
Further, staking will be supported only on BNB Chain, meaning UNW holders on Arbitrum must use Wormhole Connect to bridge over UNW for staking.
Cross-chain protocol design
The above design of esUNW means that a carefully designed cross-chain support is necessary and we have been working with Wormhole and other cross-chain messaging providers for a solution, which we hope will go live in Q3 of this year.
We also previously announced that we have been working with Wormhole on a cross-chain integration proposal, which will integrate liquidity across BNB and Arbitrum for traders on both sides. We expect the proposal to be presented to our community in as early as next week, which will set the direction of how Uniwhale will work across multiple chains going forward.
So wen Arbitrum?
Taking all these together, we hope you can feel we are getting very very close to officially launching on Arbitrum!
Yes, so given where we are, we are looking to launch officially on Arbitrum in the week of July 19, and are so much looking forward to it!
Join us!
To get involved and stay updated on all Uniwhale-related matters:
- Visit us on uniwhale.co
- Find our codes on Github
- Follow Uniwhale on Twitter
- Subscribe to the Uniwhale Medium
- Join the Uniwhale community on Discord
