AUSTIN, Texas--(BUSINESS WIRE)--Unifi Protocol DAO is set to launch a massive upgrade to their sustainable and decentralized finance (DeFi) ecosystem. Unifi’s blockchain products were first introduced in 2020, and have since expanded to include more services such as trading (uTrade), staking (uStake), and recently the addition of a cross-chain bridging solution (uBridge). With roughly $11.5M locked in the Unifi Protocol ecosystem, Unifi stated in their infrastructure improvement proposal that much of that value is currently being under-utilized.
The upgrade will see major changes rolled out to Unifi Protocol’s rewards token, $UP. This over-collateralized algorithmic token has been fully backed by an increasing reserve of cryptocurrency coins on each blockchain it is on since originally conceived in 2018. The new and improved UP will utilize the funds in this rising reserve to earn all UP holders passive returns by routing staking rewards into the backed value of the token, while...
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