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What is Unifi Protocol DAO (UNFI)?
UNFI——A Multi-chain, Smart-contract based Defi Solucion
1. Unifi Protocol DAO is a group of non-custodial, interoperable multi-chain smart contracts that aims to provide the tools for Decentralized Finance (DeFi) product development.
2. uTrade, a decentralized Automated Market Maker (AMM) and token exchange, is the first product built on Unifi Protocol DAO smart contracts.
3. UNFI is the native governance token of Unifi Protocol DAO. Users can stake and delegate UNFI to Community Council Representatives and earn UNFI as rewards. Community Council Representatives make governance decisions for the platform and are subsequently rewarded in UNFI. Details on platform governance can be found here.
4. UNFI tokens can be obtained by purchasing from the open market or by migrating UP tokens earned by providing liquidity on Unifi-based products.
Unifi Protocol DAO Key metrics
| Ticker | UNFI |
|---|---|
Token Type | BEP-20 and ERC-20 |
Initial Circ. Supply | 2,258,333 UNFI (22.58%) |
Total Token Supply | 10,000,000 UNFI |
1. What is Unifi Protocol DAO (UNFI)?
Unifi Protocol DAO is a group of non-custodial, interoperable, decentralized, multi-chain smart contracts providing the building blocks for DeFi development. The project provides a bridge to connect the economy of Ethereum-based DeFi products to the growing DeFi markets on other blockchains.
uTrade, a decentralized Automated Market Maker (AMM) and token exchange, is the first product built on the Unifi Protocol DAO smart contracts. uTrade is made up of a group of smart contracts called a uPair. Multiple token trades can be executed within one uPair, allowing a user to trade or fund liquidity in uPairs with an unlimited combination of tokens.
The UP token is minted as a representation of the revenue generated by the Unifi Protocol DAO ecosystem. The tokenomics of UP tokens may differ from one blockchain to another to customize the rewards provided and ensure a sustainable marketplace. The UP token has no max token supply, and can be swapped to UNFI based on dynamic market price rates.
UNFI token holders can earn UNFI rewards by staking and delegating to Community Council Representatives. Representatives and their communities across multiple blockchains forms the Unifi Global Governance Model powered by UNFI.
2. Recent news
- November 2020: Release of the UNFI Global Governance System and the UNFI token.
- November 2020: Unifi Protocol DAO launched on Binance Smart Chain.
- October 2020: Unifi Protocol DAO launched on Ontology and Harmony.
- September 2020: Launch of Developer Bounty program.
- August 2020: Unifi Protocol DAO launched on the TRON blockchain.
3. Economics and supply
UNFI Token sales data
| Token Name | UNFI |
|---|---|
Seed Sale Allocation | 650,000 UNFI |
Seed Sale Token Price | 0.15 USD / UNFI |
Seed Sale Amount Raised | 97,500 USD |
Private Sale Allocation | 1,200,000 UNFI |
Private Sale Token Price | 0.66 USD / UNFI |
Private Sale Amount Raised | 792,000 USD |
UNFI Token allocation
| Token Name | UNFI |
|---|---|
Binance Launchpool | 4.00% of the total token supply |
Seed Sale | 6.50% of the total token supply |
Private Sale | 12.00% of the total token supply |
Team | 15.00% of the total token supply |
Ecosystem Support | 10.50% of the total token supply |
Binance Smart Chain Ecosystem | 1.00% of the total token supply |
Community Development | 51.00% of the total token supply |
4. Unifi Protocol DAO's community overview
Unifi Protocol DAO will initially focus on community building across TRON, Ontology, Harmony, and Binance Smart Chain communities. As the project grows, it will gradually support other layer-1 infrastructure as well.
Current community growth strategies of Unifi Protocol DAO include:
1) Launching services on new blockchains.
2) Incentivizing the formation of a multi-chain community through UNFI staking.
3) Maintaining a Gitcoin repository for bounties on building community tools (such as yield calculator).
4) Conducting interactive seminars on Unifi, UNFI, staking, and governance.
5) Launching Ambassador programs for community members who provide value and contribute to the ecosystem.
6) Actively communicating with the public via social channels.
Future community growth strategies of Unifi Protocol DAO include:
- Enabling Community Referendums in platform governance as a part of the Global Governance Model.
- Conducting marketing promotions such as trading and liquidity provision competitions.
- Launching community leader boards.
- Incentivizing developers to build new DeFi products and services on Unifi.
Unifi Protocol DAO Community and social channels
Telegram (ANN)
