UniFi protocol has landed on the BSC; UniFi continues to innovate in the De-Fi space, incentivizing multi-chain participation.
What is UNIFI Protocol?
Unifi Protocol is a decentralized autonomous organization (DAO) governed via the $UNFI governance token. UNFI has continuously grown its awareness through partnerships with Binance (Launch pool) and PancakeSwap.
Unifi Protocol DAO consists of non-custodial, interoperable, decentralized, and multi-chain smart contracts providing the building blocks for the next generation of De-Fi development.
The UNIFI protocol was created by the team of SESAMESEED, which started in April 2018, so they bring a lot of expertise to the UNIFI project. Specifically, the multi-chain aspects, like the “SEED BRIDGE.”
Unifi provides a bridge to connect the existing economy of Ethereum based De-Fi products to competing blockchains.At the moment, UNIFI is present on the following blockchains:
Ethereum, Tron, Ontology, Harmony and Binance Smart Chain
The Unifi Protocol is designed to provide developers with functional De-Fi building blocks linking multiple blockchains together into one sizeable De-Fi marketplace.
uTrade is the official UNIFI Protocol trading platform or AMM (automated market maker) using its users’ liquidity. Liquidity providers share a portion of the revenue generated by the entire Unifi Protocol and are not limited to a share of fees earned solely from a specific trading pair. Traders are refunded a portion of their trading fees in SEED token, which will compound and grow in value over time. uTrade is the only platform to offer a trading rebate, which automatically stakes on multiple blockchains and earns increasing rewards.
Unifi utilizes their “seed bridge” to connect to EVM/NVM based De-Fi products to any compatible blockchain.
Unifi Protocol features; liquidity pooling, a fee sharing governance token, loyalty rewards token, lending platform, and cross-chain swap interoperability.
UNFI serves as the main protocol and global governance token. With this token, you can obtain rewards for staking, delegate to elect representatives for the DAO, and receive rebates for it.
It is the first sustainable De-Fi token to incorporate Proof of Stake (POS) elements into its representative DAO governance model.
$UNFI is the public face of the Unifi Protocol listed on major exchanges like Binance, HBTC, and Bibox, to name a few.
UP (Unlimited Potential) Liquidity Mining Token
$UP is the blockchain specific liquidity mining token of the Unifi Protocol. On uTrade, liquidity providers earn a portion of trading fees from every trade in every pair.
Each blockchain where Unifi Protocol operates will have a designated base token in which fees and revenue are collected. These will be ONG on Ontology, ONE on Harmony, TRX on Tron, ETH on Ethereum, and of course BNB for Binance Smart Chain.
$UP minting occurs in direct proportion to the fees and revenue generated by the entire UniFi protocol. This includes designated fees or revenue from all UniFi developed platforms and any projects developed by others that utilize the UniFi protocol. The minting process is designed to ensure the redemption value of all $UP tokens must go $UP every time a new $UP token is minted.
The $UP token creates a very unique and lucrative rewards structure for all holders, protocol users, and liquidity providers. Even after liquidity is withdrawn, liquidity providers continue to share in fees as long as they hold UP tokens.
As you can see, Yield Farming is built right into the UP token.
UniFi will be a bridge to connect the economy of Ethereum based De-Fi products to the growing De-Fi markets on other blockchains.
SEED is a multi-chain token, backed by an increasing redemption value generated by Sesameseed’s blockchain node rewards. SEED has the unique property of being equal on all represented blockchains, enabling cross-chain swaps utilizing SEED as a unique utility token.
SEED is a representation of the rewards created through community participation across all blockchains it operates. SEED can be exchanged at any time for its pegged value. Holding SEED earns more SEED every day.
uLEND is another excellent product by the Unifi Protocol. Through its platform, using the SEED Bridge, it is possible to take out a loan collateralized in one blockchain and use the resulting funds in another. This could be very useful for some people; they could do cross-chain trading, margin trade, and anything else you can think of.
The UNIFI project has a lot to offer between their cross-chain integration, lending platform, staking, and various tokens. The fact that you can earn and stack SEED as a rebate to every trade is impressive. The UP token also promises to accrue (a lot) value over time. It will give governance rights in the future, as its name suggests UNLIMITED POTENTIAL, which can be said about the whole project. Bridging across many chains will undoubtedly be very useful for many users and projects. This “unify’s” all projects on all chains, promoting a great user experience. It should bring new users to those chains, and people can choose the chain that works best and offers the lowest tx fees and time.
Source : bsc.news
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