The Unifi Protocol is a group of non-custodial, interoperable, decentralized, and multi-chain smart contracts providing the building blocks for the next generation of DeFi development. Unifi provides a bridge to connect the existing economy of Ethereum-based DeFi products to growing DeFi markets on other blockchains. Unifi utilizes the time tested SEED Bridge to connect any Ethereum or EVM/NVM-based DeFi products to other blockchains.
The Unlimited Potential Token (UP) is at the core of Unifi’s DeFi system. UP minting occurs in direct proportion to the fees and other revenue generated by the entire Unifi protocol. This includes designated fees or revenue from all Unifi-developed platforms, as well as from any projects developed by others which utilize the Unifi protocol. The minting process is designed to ensure the redemption value of all UP tokens must go UP every time a new UP token is minted. UP token creates a very unique and lucrative rewards structure for all holders, protocol users, and liquidity providers.
The Unifi protocol is designed around a decentralized autonomous organization (DAO) governed via a decentralized governance token.
The following are highlights taken from the full Unifi protocol whitepaper.
Read the complete introduction to Unifi on Medium here: Introducing Unifi
Read the complete white paper here: UniFi White Paper