Juliun Brabon, CEO of Unifi and a co-founder of Sesameseed, revealed on Nov. 12 to Hub, Cointelegraph China’s online interview show, that Unifi DAO is building a new paradigm of the DeFi multi-chain proof-of-stake governance model.
According to Brabon, Unifi’s global governance token, UNFI, will be the first sustainable DeFi token to incorporate PoS elements into its powerful DAO representative governance model.
Unifi Protocol DAO, a group of non-custodial, interoperable, decentralized and multi-chain smart contracts, provides the building blocks for the next generation of DeFi development.
The Unifi protocol is designed to provide developers with functional DeFi building blocks, linking multiple blockchains together into one large DeFi marketplace. To power UNFI, a working proof-of-concept called uTrade is used to harness multi-chain and multi-platform liquidity mining.
Brabon says that Unifi is probably the most complex protocol for token economy design in the field of DeFi. Its token economy model involves four tokens: UPcoin (XUP), Uselink Chain (UL), SeedCoin (SEED) and UNFI, which create a lot of profit opportunities for investors and liquidity providers.
Brabon stressed that all Unifi’s transaction costs will be used to mine UPcoin, which will be allocated to liquidity providers and is 100% redeemable.
In the future, XUP will be able to convert into UNFI. Some funds will be used to increase the redemption value of all UPcoin tokens, which will be effectively distributed to all UPcoin holders.
UNFI incorporates the development team’s tokenomics and representative blockchain governance expertise gained through operating nodes on multiple top blockchains.
UNFI’s highly rewarding PoS global governance model drives the formation of entire communities that are incentivized to advocate for UNFI to be as successful as possible.
Under the UNFI PoS ecosystem, candidates for the Unifi council of representatives will campaign for election as a community council representative, or CR. They will serve on the Unifi council of representatives and have the ability to propose or vote on changes.
There are two types of representatives who compose the Unifi council of representatives, says Brabon.
“The first designated council representatives are positions filled by the Unifi team or Unifi strategic partners. The second community CRs represent the voice of the overall community of UNFI holders. Community CR positions will be determined by receiving the most delegation from Elite Class 1 UNFI tokens and by the available number of CCR seats.”
UNFI integrates the whole UNFI ecosystem and community together and plays a governance role. According to the roadmap released in the UNFI white paper, UNFI tokens will slowly enter circulation within five years. This means that platform users and their governance participants will accumulate most of the UNFI tokens over time.
Brabon says the Unifi protocol provides a bridge between Ethereum-based DeFi products and other DeFi products based on other blockchain infrastructures. Unifi currently supports the Tron, Ontology and Harmony networks. In the future, more blockchain protocols, such as Ethereum, will be added. At press time, the Binance Smart Chain will have already been added.
Unifi is a decentralized team with members in China, the United States, Singapore, South Korea and Spain, among others. The Chinese community will continue to play an important role in the development of Unifi, says Brabon.
“What’s important is that Unifi has a global marketing strategy. In the future, the Unifi protocol will become more convenient, more diversified, more scalable and sustainable.”
Brabon also pointed out that DeFi has provided opportunities for decentralization that cannot be achieved in traditional industries. It also provides participants with the opportunity to benefit from digital assets. Yet DeFi is not a market where you can continue to get high returns.
Brabon added: “Communication between a centralized or minority-controlled system and the blockchain is an urgent problem that needs to be changed. If this problem cannot be solved in a decentralized way, it is not a good alternative solution. We are becoming a DeFi project that really takes cross-chain issues seriously and proposes a real solution.”
He believes DeFi has incorporated many solutions and that it will eventually prove to be a very sustainable way to reward people.