One MonthWrap UP
Highlights and accomplishments of Unifi
It’s been one month since the Unifi Protocol was announced. Let’s take a look back and recap all the exciting accomplishments we have achieved together so far.
- Whitepaper has been viewed 3300 times since announcement
The Unifi Protocol was introduced by Sesameseed on August 16 and started generating some buzz early on with mentions of cross-chain interoperability and unique incentives for users. Sesameseed’s tokenization expertise and reputation as community-focused innovators brought immediate attention to the Protocol. The white paper was viewed over 1700 times in the first week!
- Unifi secured investment
The DeFi community weren’t the only ones interested in Unifi. During the ramp-up to the eagerly awaited launch of uTrade, Unifi was being approached by outside investors who saw the amazing potential in the Protocol. The strategic partnerships secured with a consortium of investors has already raised global awareness of the Protocol and solidified Unifi’s entry into the DeFi space.
- uTrade reached over $1M Total Locked Value in 24 hours
The Unifi Protocol officially went live on its first blockchain, TRON, only three weeks after being introduced. This rapid deployment was in response to the high demand from the community. And the community showed up! In under 24 hours, the amount of total liquidity on the platform surpassed $1,000,000 USD.
- Incredible returns for uTrade users, as high as 2,459,000% APY in some pools
One community member saw that Unifi had listed USDJ and decided to make some money! That person made an ROI of 280% per hour for several hours. That made their APY as high as 2,459,000 %. That is almost two and a half million percent APY. Since Unifi is all on chain, anyone can check on earned APY’s and see this for themselves on any block explorer.
- Market Cap of UP reached nearly $500,000
The total number of UP minted is heading towards one million (and likely climbing as you read), making the market cap for UP soar to almost half a million dollars already in just a few days, with more growth happening every day. As new people find the opportunities available at Unifi, this value should keep growing.
- Over 2000 community members voted for a total of 9 tokens to be listed
Unifi is community-focused and polling on our Twitter page has been the best way to allow the community to help make decisions on what they want to see listed this first week. The token listing polls have garnered over 2000 votes. It is important to Unifi to provide access to the tokens that the community wants to trade. In the span of 7 days, 9 tokens were added to uTrade, and there are many more to come.
As the Unifi Protocol token economy matures and the community grows, these kinds of decisions can be made by those who have the most interest in supporting the Unifi Protocol — UP and UNIFI token holders.
- UP token redemption value increased by over 12% , UNIFI token coming soon…
The redemption value of UP goes up after every trade. This value has already increased by 12% in only the first week, and can only go higher. (It probably went UP while you were reading this.) The community is once again buzzing about the soon-to-be released UNIFI token, the global governance token of the Unifi Protocol on all blockchains. Stay tuned for more information regarding the various interactions between UP and UNIFI!
Demonstrating yet again that eyes are on Unifi, UP token was listed on three exchanges within the first week of launch.
- Derivative Markets Announced
The announcement that derivatives trading will be available on uTrade is gaining Unifi even more attention from liquidity providers who can now mine more rewards on multiple platforms at once using the same liquidity.. JustSwap liquidity miners can earn more on Unifi — without even moving their liquidity. Once they see the power of UP, they will probably move it all!
All of these accomplishments, and that was only in one month, on one blockchain, with a few pairings available. There is still plenty of ongoing development. All Unifi smart contacts are currently being audited by the well-respected auditing firm, Slow Mist. Unifi is ramping up for launch on the next blockchains, steadily advancing towards our goal of providing a bridge to connect the existing economy of Ethereum-based DeFi products to growing DeFi markets on other blockchains. Watch for news on new listings, mobile support, APY calculations and more. Join Unifi on social media so you don’t miss out on the next huge Unifi opportunity.
