Unifi Protocol DAO (UNFI) announced by Binance as the eighth project about Binance Launchpool, a DeFi multichain solution, based on smart contracts.
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What is Unifi Protocol DAO (UNFI)?
Unifi Protocol DAO is an interoperable, interoperable group of multi-chain smart contracts with the aim of providing tools for decentralized finance product development (DeFi).
Unifi provides a bridge to connect the existing economy of Ethereum-based DeFi products with the growing DeFi markets on other blockchains. Unifi uses the time-tested SEED Bridge to connect any Ethereum-based DeFi product or EVM / NVM to other blockchains.
Unifi Protocol DAO is set up around a decentralized governance organization (DAO) managed through decentralized governance token (UNFI)
Project features and features
Unifi is a set of building blocks based on smart contracts that create and connect DeFi markets by enabling simple and low-cost cross-chain business.
UNFI token holders can earn staking rewards and can earn even more rewards from their chosen Community Council Representatives. The reward for sticking with UNFI and delegation encourages the community to contribute to the development of the protocol and UNFI.
Sustainable Unifi Utility
UniFi continues to expand and include more blockchain communities. This creates the possibility of exploiting unlimited liquidity. A variety of products and services can be built on top of the UniFi Protocol DAO.
Unifi provides an encrypted reward system that allows you to build yield farming. Removes restrictions created by offering native blockchain token rewards. Unifi captures the power of multi-chain and cross-platform liquidity exploitation in UNFI token, Unifi's global governance token.
What is UTrade (how is it related to Unifi Protocol DAO)?
- uTrade is a trading platform built with UniFi Protocol
- uTrade acts as an unlimited, decentralized liquidity AMM where one token is exchanged for another. Using the liquidity provided by the liquidity providers is recommended.
UP What is token?
The UP token is created as a representation of the revenue generated by the UniFi Protocol DAO ecosystem. The UP token's tokenomic may differ from one blockchain to another. Aim to customize the offered rewards and ensure a sustainable market. UP has no maximum supply and can be swapped for UNFI based on dynamic market rates.
What is UNFI token?
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. Later commended in UNFI.
Basic information of UNFI
|Token Standard||native, governance|
|Initial Circ. Supply||2,258,333 UNFI (22.58%)|
|Total Supply||10,000,000 UNFI|
Allocation of UNFI tokens
Token issuance schedule
UNFI token sale
|Seed Sale Allocation||650,000 UNFI|
|Seed Token Sale 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|
What is Unfi Protocol Dao (UNFI) used for?
- Stking reward: User can stake and delegate UNFI to Community Council Representative and earn UNFI as reward
- Governance: UNFI has linked all the platforms on the whole of Unifi Protocol Dao multi-chain into one governance token global system. Has exclusive opportunity access and protocol administration
How to earn UNFI tokens?
- As mentioned involved staking and protocol administration
- Join Binance Launchpool
- Buying on the exchange has listed
On which exchange is UNFI traded?
Currently only information Binance will then list UNFI into the renewal area on 19/11/2020 at 01:00 pm (Vietnam time) and open trading with trading pairs UNFI / BTC, UNFI / BNB, UNFI / BUSD and UNFI / USDT.
UNFI token storage wallet
ERC 20 token so you can choose from one of the following lists: Trustwallet, Ledger Nano X, MyEtherWallet, Dappradar.. Or you can store it directly on an exchange, where you bought that token. Remember to turn on full security.
Unifi Protocol DAO (UNFI) on Binance Launchpool
- Token name: Unifi Protocol DAO (UNFI)
- Launchpool Reward: 400.000 UNFI (4% of total supply)
- Original Circulating Supply: 2.258.333 UNFI (22,58% of total supply)
- Staking Terms: There is no upper limit. No KYC required.
Pool is supported
- Stake BNB : 280.000 UNFI (70%)
- Stake ETH : 80.000 UNFI reward (20%)
- stake BUSD : 40.000 UNFI bonus (10%)
- Time farm: 14/11/2020 07:00 AM (VN time) - 14/12/2020 07:00 AM (VN time)
Daily distribution of UNFI in pools
There are 3 time periods and the total number of daily UNFIs that are rewarded will be different and vary from pool to pool. Details are as follows:
|07: 00am - 07:00 am the next day||Daily bonus||BNB Pool||BUSD Pool||ETH Pool|
|14/11/2020 – 20/11/2020||33,333.33||23,333.33||3,333.33||6,666.67|
|20/11/2020 – 28/11/2020||10,000||7,000||1,000||2,000|
|28/11/2020 – 14/12/2020||7,500||5,250||750||1,500|
Instructions to stake BNB, BUSD and ETH receive UNFI coins
Step 1: If not, register for a Binance account: https://blogtienao.com/go/binance
Step 2: Have 1 of the tokens available: BNB, BUSD, BAND
Step 3: Access: https://launchpad.binance.com then select "Stake now"With the pool you want:
Step 4: For example, you use BNB, then click "Stake”And enter the amount of BNB you want to send to the pool.
Note when joining Unifi Protocol DAO on Binance Launchpool
- A snapshot of the user's balance and total pool balance will be taken every hour to calculate user rewards, also updated every hour.
- Users will be able to accumulate their rewards (calculated per hour) and receive these rewards directly into their spot account at any time.
- Annual yield% (APY) and total balance for each group will be updated in real time.
- Only one pool can be staked at a time. For example, User A cannot stake the same BNB in 2 different pools at the same time, but can allocate 50% of their BNB to pool A and 50% in pool B.
- Users will be able to withdraw their funds at any time without delay and join any other available pools instantly.
- Tokens are staked in each pool and any unclaimed rewards are automatically transferred to each user's on-premises account at the end of each farming phase.
- The BNB participating in Launchpool will still provide users with standard benefits for holding BNB, such as airdrops, Launchpad eligibility, and VIP benefits.
The future of UniFi Protocol DAO
Partner and Investor
Each UniFi investor, advisor and strategic partner is carefully selected based on their ability to support UniFi. UniFi's investors and strategy advisors include major blockchains, exchanges and media facilities. Please refer to the illustration.
Unifi Protocol Knives team
Unifi DAO is developed by Sesameseed, a multi-chain digital asset staking community. Started as a grassroots social media campaign in April 4. Sesameseed's vision of transparency and community representation has allowed it to stand out as a trusted voice for innovation and leadership in the space blockchain.
Team members include:
- Juliun Brabon: CEO of Sesameseed
- Kerk Wei Yang: Head of Smart Contract Development
- Daniel Blanco: Lead Developer, Software engineer
Community development strategy
Unifi Protocol DAO will initially focus on building communities on top of communities TRON, Ontology, Harmony and Binance Smart Chain. As the project grows, it will gradually support other layer 1 infrastructures.
Current Community Development Strategy of UniFi Protocol DAO:
- Launch of new blockchain services.
- Encourage the formation of a multi-chain community through UNFI staking.
- Maintaining a Gitcoin repository gives bonuses for building community tools
- Conduct interactive workshops on UniFi, UNFI, staking and governance.
- Launch Ambassadors programs for community members who provide value and contribute to the ecosystem.
- Actively communicate with the public through social channels.
Future community development strategy of UniFi Protocol DAO:
- Enable community referendum in governance of the platform as part of the Global Governance Model.
- Conduct marketing promotions such as trading contests and liquidity offers.
- Launch of the community leader board.
- Encourage developers to build new DeFi products and services on UniFi.
What is special about UNFI tokens?
- UNFI links all the platforms across the whole of Unifi Protocol into governance token global
- UNFI captures the potential of all UP tokens from all blockchains through migration within the protocol.
- UNFI is an ERC-20 token that only exists natively on the Ethereum blockchain.
- UNFI is the public face of Unifi Ptotocol that will be listed on major exchanges.
- Being on Ethereum allows UNFI to be listed in industry standard analytics tools like CoinMarketCap or Etherscan
Should you invest in UNFI coin?
Unifi Protocol's advisors and investors are very powerful. Along with that project features are also very rich. Hopefully, the overall evaluation of the project as well as the information provided from the project will help you get the best investment decision.