Unido's Growth Potential: The Intersection of Token Utility and User Adoption
The blockchain technology industry has experienced tremendous growth in the past few years. Many retail and institutional investors are turning to the crypto market in the search for impressive returns. However, smart investors don’t just throw their money into random projects; they invest in well-researched projects with exceptional potential for growth.
That is where projects like Unido come in – a patented, enterprise grade platform offering seamless management of crypto assets, access to DeFi Markets with DeFi and crypto banking management tools. Unido is a deep tech solution with a patented Multi-Party Computation (MPC) core to protect user assets and offer a secure custody solution where users can trade without needing a centralised authority.
In the previous article, we explored some of the features that make Unido the best solution for the secure self-custody of digital assets. Read on as we explore how Unido's economic model and strong user adoption has set the project up for an exciting 2023.
Unido suprasses the $1m mark
Unido token ($UDO) is gaining traction with a $1.2 million market cap as of February 2023. A quick look at Unido’s tokenomics indicates that the project has potential to be one of the best-performing tokens in the future. At its core, the Unido ecosystem is designed to support continuous growth.
The process of gaining more users, developers and crypto-native businesses has started, and the platform seems set to grow significantly over the coming months. This is expected to have a positive impact on $UDO. It is common knowledge that a token’s utility positively impacts its price; the same is true for $UDO.
But there is another reason Unido is an asset to watch out for: the deflationary nature of token economics.
Deflationary and Exclusivity
Unido is a deflationary asset, meaning its supply gradually decreases over time. The token plans to reduce supply by at least 20% by burning a huge chunk of the consumption fees it generates.
Exclusivity is one of the main utility features distinguishing the Unido ecosystem from other tokens. Only those with the token can access its enterprise platform and core technology. The Unido Enterprise Platform (EP) is a product developed to help enterprises seamlessly supervise their crypto assets via a superior platform with built-in DeFi and crypto banking management tools.
Coupled with DAO governance, a consumption fee model to generate revenue for the token, and a liquidity mining token, the Unido ecosystem truly represents a project ready for growth. But growth is ultimately dependant on platform users, as we will see in the next section.
Unido users as a catalyst for growth
For crypto investors, buying and holding a token to benefit from the price swing is a common investment strategy. This buy-side investment method helps the Unido ecosystem, especially for applications seeking access to the Unido enterprise platform.
UDO, the native token, is needed for users to access the ecosystem. As the platform user numbers increases, there will be more demand for UDO to perform different tasks. For example, to secure an access pass, users must stake UDO on a per-user and per-enterprise basis. This means that as the Unido ecosystem grows, so does the demand for UDO, making it an essential part of the platform's success.
Unido has a total supply of 115,000,000 tokens, 14.3 million of which are dedicated to the Ecosystem Development Fund. These dedicated tokens will be used to expand the Unido ecosystem and increase adoption, ultimately providing more value for developers and investors simultaneously.
Based on recent observations* of the trading activity of the WETH/UDO pair on Uniswap, promising results have been noted. A modest net buy over a single day resulted in a significant 13% increase in the value of UDO, indicating a strong demand for the token. This positive signal suggests that UDO has great potential for future growth, and further increases in demand could potentially result in even greater gains in value.
The Unido team is devoted to improving and expanding the platform’s ecosystem. They strongly believe that their efforts will fuel its growth and bring about even greater success in the long run.
*Observations during the trading period on Uniswap from March 4-5, 2023, specifically from Mar-04-2023 11:07:11 PM +UTC to Mar-05-2023 11:47:35 PM +UTC.
User onboarding: a recipe for success
Users are at the core of any successful project.
The rate of new user acquisition is increasing rapidly with new users increasing by 174% in the last 3 months, compared to the last quarter of 2022. Also, the total number of wallets have increased by 171% in the same period.
Additionally, users have staked 5.1 million UDO since in-app staking began on February 1, 2023, indicating strong trust in Unido's ability to provide a leading platform.
Between January and February 2023, the coin’s market cap grew by 300%, setting the pace for unprecedented growth in the coming months.
The logic is simple: more users translates into positive price action, which in turn may provide returns for investors, especially those who buy and hold. Unido's potential for growth makes it an exciting option for institutional and retail investors looking to diversify their portfolio.
As the platform experiences an increase in demand, it’s evident that more investors would consider buying $UDO. The platform has experienced significant user growth month over month since the end of 2022. A continued growth in users will likely impact token volume due to consumption fees generated by platform usage when the billing system is implemented later in the year.
New features are in the works.
Unido is constantly working on new features to improve the user experience and boost the platform’s utility. Keep an eye out for subsequent articles where we will explore a series of innovative and important features coming to Unido throughout 2023. The new features will focus on adding new utility to Unido’s offering and bringing a lot more users to the platform.
If you’re looking for innovative cryptocurrencies with an explosive potential for growth, you're in the right place. Choose to look at the Unido ecosystem and be part of a crypto project that changes the future, one feature at a time.
The Unido Enterprise Platform:
- World Class Security
- Multi-user, Multi-signature
- Analytics and Reporting
- Interoperability and Multichain
- Decentralized Self-Custody
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