Unifi Protocol DAO (UNFI): A Revolutionary Approach to DeFi

What is Unifi Protocol DAO (UNFI)?

Unifi Protocol is laying the foundation for the next generation of DeFi development through a group of multi-chain smart contracts which are interoperable, decentralized, and non-custodial.

Unifi Protocol DAO is a decentralized autonomous organization (DAO) with the support of the $UNFI governance token, successfully raising its high profile through collaborations with Binance Launch Pool, PancakeSwap, and others.

• The platform acts as a bridge connecting Ethereum-based DeFi products and the existing economy of competing blockchains. 
• Unifi Protocol is also intended to offer developers functional DeFi building blocks that connect a wide range of blockchains into a large DeFi marketplace.

Originally built on Ethereum, Unifi has also launched on other blockchains, namely Binance Smart Chain, Harmony, Ontology, Tron, Avalanche, Polygon, IoTeX, and BitTorrent.

About UNFI token

UNFI is the first sustainable DeFi token to integrate POS factors into its DAO governance model.

Referred to as the “One Token to Rule Them All”, UNFI is the powerhouse token of the entire Unifi ecosystem. 

UNFI serves the following primary purposes:

1) As the global governance token for the entire multi-chain Unifi Protocol, UNFI allows holders to govern the Protocol by proposing or voting on community proposals and referendums and making important policy decisions accordingly.

2) UNFI grants UNFI holders exclusive ability to earn a bonus share of every liquidity reward minted on uTrade from trading fees on an entire blockchain just by providing liquidity to the UNFI Super Pairs.

3) UNFI allows users to acquire rewards for staking.

In addition to the UNFI governance token, the Unifi Protocol network also operates with the support of other tokens:

• UP (Unlimited Potential Token): The UniFi Protocol’s blockchain-specific liquidity mining token, providing holders, users, and liquidity providers with a one-of-a-kind and profitable rewards structure.
• SEED: A multi-chain token that represents the rewards generated by community participation.
• uL Token (Unlimited Liquidity Token): A token distributed to liquidity providers as proof that they have provided liquidity to a uPair (the trading pairs made up of a series of smart contracts). The liquidity provider can exchange uL tokens for UP.

How Unifi Protocol DAO works 

Aiming to bring modern technology to the financial world and unify the multi-chain DeFi world, Unifi Protocol DAO has introduced the following products: 

uTrade

uTrade is a decentralized, unlimited trading exchange and automated Market Maker (AMM) built on UniFi Protocol. It makes itself stand out among other renowned exchange platforms with the following differences:

• uTrade is made up of a group of smart contracts called a uPair within which multiple token trades can be executed.
• Liquidity providers (LPs) is given a portion of the revenue generated by the entire Unifi Protocol.
• If LPs have withdrawn their liquidity but still hold UP tokens, they can still get the fee sharing.
• uTrade offers a trading rebate program, which means that traders will be refunded a part of the transaction fees in SEED and earn more benefits for holding SEED. 

uStake

uStake (Unifi Protocol Staking) can be understood as the process in which Unifi Protocol allows stakeholders on multiple blockchains to take part in DeFi by staking and obtaining node rewards.

• Rewards: Unifi Protocol distributes 100% of node rewards to its stakeholder community. 
• Staking for DeFi participation: Stakers and liquidity providers all work toward the same goals and use the same tokenomics structure.
• Hassle-free staking: Staking should be as simple as possible for all participants with no special staking instructions needed.

uBridge

uBridge is the latest innovation from Unifi Protocol DAO, serving as a cross-chain bridging solution and resolving issues when transferring funds between blockchains.

• It enables users to connect UNFI directly to and from any of these chains without wrapping the token.
• uBridge provides true blockchain connectivity and addresses the issue of sacrificing capital efficiency by bridging only authentic UNFI tokens, providing users with an additional layer of security. 
• uBridge has the unique ability to transfer your tokens to and from any combination of supported blockchains at a low cost.

Features of Unifi Protocol DAO

Unifi Protocol DAO operates with the following special features:

• Cross-chain DeFi: Unifi connects DeFi marketplaces by allowing for low-cost cross-chain trading, including integrating them all to the existing multi-million dollar Ethereum economy.
• Sustainable utility: Unifi keeps flourishing and creating more blockchain communities. This results in unlimited liquidity mining and a wide range of products and services.
• UNFI Rewards: UNIFI token holders can earn staking rewards, and may earn even more rewards from their chosen Community Council Representative, contributing to the growth of the Protocol and its token.
• Tokenomics: Unifi provides a tokenized rewards system eliminating the limitations of offering blockchain token rewards as well as making the most of multi-chain liquidity mining.

Who is behind Unifi Protocol DAO?

Team

Unifi DAO was created and developed by Sesameseed, a multi-chain staking community starting as a social media campaign in April 2018. 

The global Sesameseed team from a large number of countries is a representation of the diverse community embracing Unifi:

• Juliun Brabon, CEO of Sesameseed, with 10 years of Executive Leadership experience.
• Kerk Wei Yang, Head of Smart Contract Development, with extensive experience in software and blockchain development.
• Daniel Blanco, Lead Developer, with more than 8 years of experience in software engineering.

Investors

The project has attracted multiple big names in the crypto market, including illustrious exchanges namely Binance, MXC, Huobi, and HBTC, allowing adequate token distribution and liquidity for the Unifi Protocol.

Other investors contributing to the development of Unifi Protocol DAO include Chain Capital (Polkadot, EOS, Algorand, OmiseGo, ælf), Signum Capital (Kyber, Wax, Zilliqa, ælf, Tomochain), Consensus Labs (QuarkChain, Bitforex), etc.

Outlook on UNFI

Unifi Protocol DAO is opening up a multi-chain world for DeFi, setting itself apart from other DeFi projects with outstanding features and an innovative token economy. 

Serving as the core and the public face of the Unifi Protocol, UNFI is demonstrating great potential. Especially, on June 8, 2022, much to the surprise of investors, UNIFI has been rocketing by 300%, after Unifi approved a massive upgrade to its sustainable and decentralized finance (DeFi) ecosystem.

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