RECAP: Unifi Protocol x IoTeX AMA

In summer 2021, Unifi Protocol acquired validator nodes on multiple blockchains and optimized them for maximum staking rewards. One of those blockchain nodes was on IoTeX.

The Unifi Protocol node on IoTeX has since leapfrogged from a ranking of 40th position all the way to #6 validator at the time of writing! The reception from the IoTeX community has been overwhelmingly positive.

In order to celebrate such positive momentum, Unifi and IoTeX hosted a live AMA on Thursday, October 21. Larry Pang, Head of Business Development (IOTX) chatted with Unifi co-founder Juliun Brabon (UNFI). The conversation covered a wide variety of popular topics in the crypto world currently. The event was generally well-received, and the video has been viewed over 700 times.

You can watch it here:

The following are paraphrased quotes from Juliun Brabon during the AMA.

The Importance of DAOs
Ultimately for us, the reason that a DAO is significant is for two key things — security and sustainability. If it’s designed simply and correctly, it becomes a sustainable way to allow your ecosystem to grow and change over time.

“The only certainty in crypto is change.”

NFT’s and Innovation in Crypto

The only certainty in crypto is change. In the last 3 years, terms like “DeFi” came into existence, and NFT’s weren’t very popular. Now people confine the term DeFi to mean AMM, or the term “NFT” to mean a piece of digital art. But it’s not meant to be such a simplified concept.

When you take a look at NFTs, we are not even close to being aware of what’s possible there. NFT’s in the next 4–5 years won’t even resemble what we have today.

The space is starting to expand at a faster and faster rate. We’re on track to start seeing that ‘change methodology’ accelerate.

Cross-Chain DeFi

That’s a challenge. It essentially requires competitors to collaborate. So that’s the current roadblock there.
We’ve been talking about bridge technology for a year. It’s a target for this year.

TVL and Liquidity

TVL/Liquidity is king right now, but I don’t think that lasts forever. I think a smart person or team will come up with very creative solutions around that. We even see this happening in lending right now. People can write loans against things that maybe don’t require as much TVL, and I’d be very interested to see where the DeFi space goes as a result.

Unifi being a Multi-chain Community

Everyone wants to know what’s going on out there. They don’t want to be stuck inside of their one room. They want to be exposed to other concepts and ideas. We see it happening all the time in our Unifi community channel. The fact that we do mix all of our blockchain communities and put them all together in one room does make for a more interesting dialogue.
In the future, community focus is gonna be a big focus of what we do.

Q4 Plans

This past year, we focused on our own infrastructure (tax, regulatory, legal) — the not so fun stuff. Just wrapped up a developer summit in Madrid.

Now we are going to begin a pretty rapid expansion phase of our growth. Increasing our staffing throughout the rest of the year, on both the development and marketing side.
Big focus of those two teams is going to be community development. It’s critical.

“Unifi will be here in 5 years.”

Next 5 Years

In the last several years, we’ve seen giants completely disappear from the space. That’s going to continue to happen. Unifi will be here in 5 years. We have financially planned and structured our company to be here, and we have built our business around being adaptable and more change oriented. The only certainty is that we will be here and we will be active, and we will continue to grow.

Starting Q1 of 2022, we have a pretty big project that we are going to be taking on, and I hope to be able to provide more information later on in the year on what that is. As for partnerships, hoping to be able to speak about it before the end of the year too.

Bringing real world data to the blockchain. https://www.crowdsupply.com/iotex/pebble-tracker

Unifi Protocol and uTrade can be found at https://www.unifiprotocol.com.

Connect with the Unifi community on Telegram, Twitter, Reddit or Medium.

Stake UNFI, earn rewards, and be part of the Global Unifi Protocol DAO governance. https://gov.unifiprotocol.com/my-dashboard.

For additional information on forming partnerships, developing on the Unifi Protocol, or using Unifi Protocol to support your project’s goals, email us! contact@unifiprotocol.com

Communications from Unifi are subject to Unifi’s standard terms and conditions, which can be found here.

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