Unifi Protocol is a revolutionary approach to blockchain economics. The concept is simple - the network will use a stablecoin as its gas token to remove transaction volatility and inflation.
The project aims to create the next class of blockchain, built on the principle of economic sustainability. Building a blockchain, not another cryptocurrency.
Unifi Protocol DAO is on a mission to make blockchain a solution to modern finance by building a sustainable blockchain economy predictable enough to run a business on.
Unifi Protocol DAO has been retooling blockchain economics with their innovative solutions since 2018. These include products such as a wrapperless cross-chain bridge (uBridge), a multi-chain AMM (uTrade) complete with advanced DeFi arbitrage strategies (DARBi), and a fully collateralized token integrated throughout the ecosystem ($UP).
UNFI is the governance token for Unifi Protocol DAO. UNFI holders have exclusive rights to propose and participate in referendums
Who Are the Founders of Unifi Protocol DAO?
The Unifi Protocol DAO was founded and created by an online staking community called Sesameseed.
Juliun Brabon is co-founder and CEO of Unifi Protocol DAO. He graduated with an English degree from the University of Buffalo and started a career in operations management. Later he became the president of several companies, including Jarrow Industries and Dr. Vita. In May 2018, he co-founded Sesameseed and started working on Unifi Protocol DAO.
Kerk Wei Yang is another integral part of the Unifi team, responsible for developing the smart contract capabilities of Unifi Protocol DAO. He graduated from Nanyang Technological University in Singapore and started working in data administration. He joined Unifi Protocol DAO full-time in October 2020.
Daniel Blanco is the lead developer of Unifi Protocol DAO. He has a solid background in information technologies and has worked for companies like Transparent CDN and Seedtag. He joined Unifi Protocol DAO full-time in October 2020.
What Makes Unifi Protocol DAO Unique?
Unifi Protocol DAO believes blockchain technology has a crypto problem and is striving to flip the script on the industry and build a blockchain without creating a native gas token. Their plan is to re-think what a blockchain should be, such as ripping apart the core tenets of why gas tokens need to be inflationary commodities. Or how subsidizing validators with network inflation may not be the solution which allows true blockchain adoption and businesses to thrive.
How Many Unifi Protocol DAO (UNFI) Coins Are There in Circulation?
The total supply of UNFI tokens is 10,000,000. Currently, there are about 5,800,000 UNFI tokens in active circulation on the market.
As UNFI is a multi-chain governance token for Unifi Protocol Dao, it is critical to its core function that it be both as decentralized and multi-chain as possible. In support of these initiatives UNFI is available on many blockchains as a native asset with governance rights. In support of this token economy, the DAO currently supports the liquidity of the token on these blockchains with full details found in Dev docs on the Unifi Protocol website.
In addition to multi-chain support, UNFI has been distributed freely to both Launchpool participants on Binance and through staking initiatives on Ethereum.
How Is the Unifi Protocol Network Secured?
Unifi Protocol is secured by a proof-of-stake (PoS) consensus mechanism. PoS relies on the fact that tokens are stakable to ensure the validity of nodes and secure the mining process. This means that nodes are selected based on their stake in the given token.
Unlike the proof-of-work (PoW) consensus method used by cryptocurrencies like Bitcoin, PoS is extremely scalable and can offer more flexibility to project creators. Not only that, PoS does not require vast amounts of electrical and computing power to facilitate the mining process.