In September, Binance had released Launchpool service which enabled users to acquire new tokens in return for staking Binance coin [BNB], Binance USD [BUSD], and other tokens. The exchange has been adding projects to this list and the newest addition has been the Unifi protocol.
On 13 November, Binance announced the listing of Unifi’s global governance token, UNFI which marked the eight entry to Launchpool. UNFI was a multi-chain, smart-contract-based DeFi solution. The protocol is designed to offer developers functional Defi building blocks linking multiple blockchains into one DeFi hub.
As a part of this listing, 400,000 UNFI tokens will be available for mining on Launchpool, which was 4% of the total supply of 10,000,000 UNFI. The announcement added:
“Users will be able to stake their BNB, BUSD and ETH tokens into separate pools to farm UNFI tokens over 30 days, with farming starting from 2020/11/14 0:00 AM (UTC).”
Moving forward Binance will add the token to its innovation zone on 19th November at 6:00 AM [UTC]. The users will be able to trade the token against Bitcoin[BTC], Binance coin [BNB], Binance USD [BUSD], and Tether [USDt], as per the release shared with AMBCrypto.
Unifi’s native Unlimited Potential Token [UP] is at the core of the ecosystem and create a unique and beneficial reward structure for users, holders, and liquidity providers. Only within a few months upon launch, the protocol is currently live on the Tron network, Ontology, and Harmony Protocol. The project will be live on the Binance Smart chain within this week alongside ICON.
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