uTrade V2 Launch on Tron Opens the Door to New Innovations in DeFi Trading
Unifi Protocol will link Tron and multiple blockchains to provide a suite of products that push the boundaries of DeFi
Our upgraded trading platform, uTrade V2, is coming to Tron!
Features of uTrade V2 on Tron
The first version of uTrade on Tron was launched over a year ago. Testing for uTrade V2 on Tron is still underway. Follow our social media channels for all the latest updates and launch dates!
At launch, you will be able to seamlessly connect with your Tronlink wallet. The base token in which all trading fees will be collected will be TRX. Recall, our liquidity rewards token, UP, is backed by a value of TRX that increases after each trade!
The upgraded smart contracts for uTrade V2 showcase many new features, more in line with what users may be more familiar with from using other AMM platforms.
- Single side liquidity addition
- User added listings
- Token routing
- Developer-friendly, customizable smart contracts for launching new tokens and projects.
uTrade V2 is a critical component for our Unifi users to gain access to the full functionality of the Unifi Protocol ecosystem. This includes more feature-rich trading, UNIFI Super Pairs (described below), as well as the foundational infrastructure for future products and services we will be bringing to market.
For an in-depth analysis of all of these features and more, check out our uTrade V2 Features article.
Unifi Protocol’s History of Innovation on Tron
Our long-standing relationship with Tron dates back as far as 2018. Our team (Sesameseed at the time) minted the first-ever TRC10 token on the Tron blockchain. Like-minded individuals rallied around a vision for decentralized community participation, catapulting Sesameseed to #1 SR for nearly a year. The resulting community forged an unstoppable volunteer team, bringing a series of groundbreaking products to market, ultimately leading to the initial launch of uTrade in 2020. A legacy of forward-thinking innovation is the foundation of Unifi Protocol, a growing company at the forefront of cutting-edge Web3 technology.
The Tron network offers high-throughput and high scalability, with a total of $4.5B in TVL.
With the upcoming integration of uTrade V2 and all its functionality, Tron will be able to further improve its DeFi capabilities.
Our products are currently live on 9 other blockchains, including Ethereum, Avalanche, Binance Smart Chain, BitTorrent, and others! A combination of Trading (uTrade) and Staking (uStake) on your chain of choice is only a click away! We’re constantly working behind the scenes to develop exciting new products which solve many of the problems faced by retail and institutional participants in the Web3 space. The launch of uTrade V2 on Tron is an integral step towards bridging Tron with multiple blockchains together into one large DeFi marketplace, governed by the community through the UNIFI token.
The entire multi-chain and multi-product Unifi ecosystem is governed by the UNIFI token. The UNIFI token also grants special access to features and rewards that are only available to UNIFI holders.
For all Unifi services such as trading and blockchain node staking, or even lending and cross-chain bridging, UNIFI is the governance token. UNIFI holders can create and vote on community referendums as well as respond to UNIFI core referendums on Protocol development, forming the early stages of a UNIFI DAO. UNIFI holders govern the Protocol and is how Unifi recognizes and listens to its community. The end goal is for Unifi Protocol to become a fully public and open-source DAO.
UNIFI Super Pairs are established on each uTrade V2 blockchain and are only accessible to UNIFI holders. This also means the UNIFI token will be bridged to each Unifi-supported blockchain. UNIFI Super Pairs farm liquidity rewards from the volume of the Super Pair, and a bonus percentage of fees collected from other pairs on that blockchain. Super Pairs can also receive bonus rewards from other Unifi actions or other revenue generated on that blockchain.
Staking UNIFI tokens provides access to some of the best staking rewards anywhere. Staking UNIFI has historically yielded as high as 39% APR, but is currently capped at 32% as a direct result of a recent referendum voted on by UNIFI holders. UNIFI staking also has the unique feature of a rising APR as more UNIFI are staked.
uTrade V2 has potential benefits for all TRX holders
- Tokenized Liquidity Rewards — 100% Backed
Unifi’s tokenized liquidity rewards model has the potential to benefit holders of TRX since the liquidity reward token is 100% backed by an ever-increasing amount of TRX tokens from trading fees on the platform. This essentially locks up more and more TRX in smart contracts, removes them off centralized exchanges, and takes them out of the circulating supply. This is very different from other DeFi products which mint an unlimited supply of reward tokens with no inherent value. UP token opens the door for a truly decentralized finance ecosystem. Stay tuned for more details!
- Community Focus — 0% for the team, 100% for the liquidity providers
uTrade V2 has the unique characteristic of taking a 0% cut for the team. uStake, as well, offers 100% rewards back to its stakers whenever possible. For example, the Unifi Protocol node is offering 100% rewards on Tron and IoTeX, and 95% on Harmony, the maximum allowable rate on that blockchain. Meaning, Unifi is community-focused, with the entirety of trading fees going to liquidity providers and almost all node rewards going to stakers. This results in very competitive rewards for liquidity providers and Unifi stakers on Tron, which encourages growth and increased usage on the network. By making use of Unifi Protocol’s customizable and developer-friendly smart contracts, the growing list of projects and tokens on Tron can integrate seamlessly with a flourishing DeFi marketplace.
TRON is dedicated to accelerating the decentralization of the Internet via blockchain technology and decentralized applications (DApps). Founded in September 2017, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the acquisition and the ecosystem integration of BitTorrent, a pioneer in decentralized services boasting nearly 100M monthly active users. The TRON network has gained incredible traction in recent years, with over 76 million users on the blockchain and upwards of 2.8 billion transactions. In addition, The TRON network completed full decentralization in Dec 2021 and is now a purely community-governed DAO.
About Unifi Protocol
Unifi Protocol creates simple and innovative solutions for Web3 applications. Since 2018 the Unifi team has been bringing groundbreaking blockchain products to market, beginning as a volunteer team with a vision for a decentralized future. This legacy of forward-thinking innovation is the foundation of Unifi Protocol, now an established company at the forefront of Web3 technology.
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Stake UNIFI, earn rewards and be part of the Global Unifi Protocol DAO governance. https://gov.unifiprotocol.com/my-dashboard.
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