One of the largest cryptocurrency exchanges in the world, Binance, announces the introduction of the Unifi Protocol on its Launchpool platform. Unifi has partnered with Binance to introduce its native UNFI token to the large Binance user base (more than 15 million users in 2019) via the upcoming event held on Binance’s Launchpool.
The Launchpool platform was created by Binance to facilitate new digital asset farming for users, as well as to make it easier for exchange members to acquire rewards for staking BNB and other assets.
Binance Unifi Launchpool Details
Binance is inviting its members to the Unifi network via the Launchpool event, offering them an opportunity to take advantage of the Unifi Protocol, which is a “bridge” between the current Ethereum-fueled products of the DeFi economy and emerging DeFi markets on other blockchain networks.
Binance Launchpool users will be able to stake their tokens into liquidity pools to farm UNFI governance tokens, starting from 2020/11/14 at 0:00 AM UTC. The UNFI Launchpool is expected to run until 2020/12/14.
UNFI token has a circulating supply of 6.8 million coins and a limited supply of 55 million coins. The Unifi Launchpool token reward is limited to 400K UNFI tokens, which make up 4% of the total supply.
In addition, the Binance exchange will list the UNFI token on 2020/11/19 at 6 AM UTC, thus opening trading for the following pairs: UNFI/BTC, UNFI/BNB, UNFI/BUSD and UNFI/USDT.
What is Unifi?
Unifi Protocol is a group of decentralized, interoperable, non-custodial smart contracts that provide the building blocks for the next generation of decentralized finance development. Unifi uses the SEED Bridge to connect any Ethereum or EVM/NVM-build DeFi products to other blockchain networks.
Unifi’s native Unlimited Potential Token (UP) is at the core of the ecosystem. The minting of the UP token occurs proportionately to the fees and revenue produced by the whole Unifi Protocol ecosystem. UP tokens create a unique and highly beneficial reward structure for protocol users, holders, and liquidity providers.
Unifi protocol is currently live on the Tron Network, Ontology and Harmony Protocol, with ICON and the Binance Smart Chain Network going live this week.