Unifi’s uTrade V2 Boasts Successful Binance Smart Chain Launch and Gears up for Ethereum

The team has reason to celebrate following the successful launch of uTrade V2 AMM on Binance Smart Chain.

Unifi Sees Success and Prepares for More

Unifi’s V2 has provided BSC users with decentralized swaps and they prepare for an Ethereum launch. After launching on Binance Smart Chain (BSC), the team revealed via Twitter that the launch was highly successful. On June 1st, Unifi announced via their Medium the details of their uTrade V2.

According to their project website, Unifi is a “group of non-custodial, interoperable smart contracts linking multiple blockchains together into one large DeFi marketplace”.

Having successfully launched on Binance Smart Chain, the team revealed on June 15th via their Twitter that they plan to release their V2 on Ethereum next. The protocol has already optimized the V2 for Uniswap integration.

What is uTrade?

The Unifi Interface

uTrade is the trading platform of Unifi Protocol. It provides liquidity for cross-chain swaps thanks to the participation of incentivized liquidity providers. With V2 of uTrade, Unifi have ensured that their smart contracts are more easily integrated with Uniswap. This opens Unifi to potential integrations with Aave, Compound, ACS, and other projects.

Unifi Project Components

The project is supported by $UNFI, the native token of the ecosystem. UNFI incorporates Proof of Stake consensus into its DAO governance model. Candidates for the Unifi Council of Representatives can campaign to join the Community Council and gain the ability to propose or vote on changes to the Unifi Decentralized Autonomous Organization (DAO).

As described in the Unifi Medium post from June 1st, the main features of the Automated Market Maker (AMM) are:

Customizable fee structure per project

Customizable LP reward mint rate

Emphasis on sustainability

LP rewards token 100% backed by fees paid to the Protocol

Cross-chain compatibility

Other features — Watch Unifi’s developer documentation for additional opportunities and information

Concluding Thoughts

Unifi has set itself a mission to unify and unite blockchains through decentralized finance. The multi-chain smart contracts which power Unifi mean it is non-custodial, interoperable and decentralized. A smooth operating multi-chain token swap could be a game changer for the DeFi landscape. With the launch of uTrade V2 Unifi could have discovered the right ingredients for success.

Source : bsc.news

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