Unido’s Monthly Recap — May 2021! Joining of DeFi Forces
After a successful month of April, we are here to give you an update on the key achievements the team have delivered in May.
Let’s take a look into key milestones and check-in what the team has been doing in the past 30 days:
We are pleased to announce our brand New $UDO Token Burn Program. Unido’s native token, $UDO, has a deflationary price mechanism via “Burn & Recycle” model which is designed to capture the value resulting from increased adoption of all the products in the Unido ecosystem.
What this means: The revenue from all Unido products, be it cash or crypto, will be used by Unido to purchase $UDO on the open market on a regular basis. The price and order duration of the $UDO on market purchases will be at Unido’s sole discretion. The acquired $UDO will be transferred as described in the whitepaper under Token Emission Program — Burn/ Recycle Model, being in Phase 1, 60% of UDO acquired will be burnt, 20% paid to the EDF and 20% paid to the PAC Reserve, and once total UDO on issue is reduced to 92mm tokens, Phase 2 recycle will commence, being 50% paid to the EDF and 50% paid to the PAC Reserve.
We are delighted to announce our partnership with Hypersign, a cross-chain identity protocol that secures user data by combining Public Key Infrastructure with Blockchain.
What this means: Combining Hypersign protocol with UNIDO’s Trust technology will streamline multi-party authentication and workflow management of records. This would result in accelerated enterprise adoption of decentralized technology, and would help spread the secure trust network to more companies globally.
Unido is pleased to announce that we have joined Binance Smart Chain ecosystem. Together with ChainSwap we have enabled option to swap $UDO from Ethereum to Binance Smart Chain or vice-versa.
What this means: Ethereum gas fees have been a major challenge for many users wishing to participate in the Unido Liquidity Mining program. Thus, we are providing a solution that will enable our community to leverage Binance Smart Chain for a one-sided staking option that will allow for: Lower gas fees, Greater portability, Faster transaction speeds and Greater diversification in staking the UDO token to receive other tokens
We are pleased to announce that Unido ($UDO)has joined Unifarm’s 7th Cohort to launch single-sided $UDO staking on Binance Smart Chain (BSC). UniFarm is a staking solution where the best projects in the DeFi space come together to provide value to investors. The platform allows you to stake one token but earn multiple high-value tokens.
What this means: UDO token holders are be able to stake $UDO tokens and farm multiple tokens in the UniFarm pool at a guaranteed APY ranging from 36% to 250%. This gives the Unido community an option to perform group farming, providing increasing rewards for long term UDO holders.
We are excited to share that we have our very own Mutual Liquidity Pool (MLP), together with Bridge Mutual on the POP! Platform! In order to showcase the continued sincerity and commitment behind our partnership with Bridge Mutual, we’ve agreed to take the initiative of creating an MLP on POP! For those who are unaware, POP! provides projects with a unique approach to objectively display their devotion to their partnerships, while providing benefits for the partners’ communities.
What this means: UDO and BMI holders will have the opportunity to provide their tokens as single-sided liquidity onto the marketplace, and thereby enter the MLP as partnered farmers! By participating in this MLP as a farmer, you will receive rewards in 3 tokens, namely POP!, UDO and BMI. In addition, should you experience Impermanent Loss (IL), a portion will be mitigated through POP!’s unique Rebalancing Mechanism.
The month of May was productive in both Marketing and Development departments. Besides those key partnerships, the team has worked hard to deliver everything mentioned in Q2 Roadmap and we are pleased to say that everything is going according to schedule.
We are thankful for every bit of support from our community and are very excited for the month of June!
Want to support us?
Join the Unido TG Community for latest updates https://t.me/unidogroup
Join the Unido Liquidity Mining Program to get APY on your $UDO https://lm.unido.us/
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