1st to build economically sus. blockchain w/o native currency, (stellar-unfi.digital) Issuser Address: GCIRWHUOSUZCBCAT3J4B36BF6QU6KUJQ5CE4ZSGJE5H5CVEOLAIG6EAF ICO On 18/11/2023 CB:175,000%
Project Aurora & Ukaz asset
Unifi Protocol is a community-founded organization, with the drive, passion, and ability to be disruptive in the most disruptive industry of our lifetimes
- Unifi, About Us section
Stablechain
Unifi Protocol challenged the standards of the crypto industry by being the 1st in the world to build an "economically sustainable blockchain" without creating a native currency. Unifi uses its SEED Bridge token (which was converted into UNFI and UP tokens in 2021) to connect any Ethereum or EVM/NVM-based DeFi products to other blockchains
In lieu of having its own "stablecoin", it is instead a "stablechain" consisting of a group of non-custodial, interoperable, decentralized, and multi-chain smart contracts providing the building blocks for the "next generation of DeFi development"
It relies on existing stablecoins to pay for transaction costs (gas). This means that where typical Ethereum-based blockchains burn ETH for gas fees, Unifi leverages a component of Ethereum's original Shanghai upgrade that later spun-off and became a separate upgrade called ERC-4337, deployed via a smart contract called "EntryPoint" (https://www.coindesk.com/tech/2023/03/01/ethereum-activates-account-abstraction-touted-by-founder-buterin-as-key-advance/). (https://www.coindesk.com/tech/2023/03/01/ethereum-activates-account-abstraction-touted-by-founder-buterin-as-key-advance/) As the "governance token" for Unifi Protocol DAO, UNFI token becomes the "stablechain represented as a pseudo-stablecoin", effectively wrapping all of Ethereum assets via ERC-4337 so that ANY and ALL ERC20 tokens can now be used as “stablecoins for gas fees”
The big really valuable and necessary thing that ERC-4337 provides for account abstraction is a
*decentralized fee market*
for user operations going into smart contract wallets
- Vitalik Buterin, 1 October 2022 Tweet (https://x.com/VitalikButerin/status/1576199517434949634?s=20)
With UNFI, 100% of Ethereum's blockchain, including all of its assets, are now UNFI's "stablechain of gas fees"
Passive/Residual Income
Unifi Protocol also boasts products such as a wrapperless cross-chain bridge called "uBridge", a multi-chain AMM called "uTrade" (complete with advanced DeFi arbitrage strategies called "DARBi"), and a fully collateralized token integrated throughout the ecosystem called "UP"
Just like MakerDao’s Liquitiy Pool "Smart Burn Engine" is used as a beta test for many bridges to create passive income, such as by pulling Bitcoin onto the Ethereum blockchain through Wrapped Bitcoin as a new collateral asset in the Maker Protocol DAO, (https://cointelegraph.com/news/makerdao-brings-bitcoin-to-the-ethereum-blockchain) the Unlimited Potential Token (UP) is at the core of Unifi’s DeFi system
UP tokens are minted in direct proportion to the fees and other revenue generated by the entire Unifi Protocol, as well as from any projects developed by others which utilize Unifi Protocol. The most interesting feature is that its minting process is designed to ensure the redemption value of all UP tokens must go UP every time a new UP token is minted. Therefore, UP token creates a very unique and lucrative rewards structure for all holders, protocol users, and liquidity providers through incentivized liquidity pools, a fee-sharing governance token, loyalty rewards token, lending platform, and cross-chain swap interoperability
This is one of many white hat examples explaining why “Revenues are increasing while activity is decreasing” (https://t.me/QuantumStellarInitiative/31014) -- because the revenue is being generated from wrapped asset AMMs and LPs
Thus, by combining UNFI, UP, uBridge, and uTrade together through the Unifi Protocol (prounounced "unify"), it is clear to see that Ethereum's "EntryPoint" upgrade is a critical component of ERC-4337's overall self-titled "SELF DESTRUCT (https://t.me/QuantumStellarInitiative/19088)" strategy
See links for further information:
Unifi White Paper (https://docs.google.com/document/d/1bEfk9xI3hbkZ_GIjRlIKOsjMKtsi_MAP3jnMqR5x-KE/edit#heading=h.1cxnsogz58o9)
ETH Shanghai (https://t.me/QuantumStellarInitiative/19088)
Account Abstraction (https://t.me/QuantumStellarInitiative/19257)
ERC-4337 (https://t.me/QuantumStellarInitiative/23264)
UNIFI declas:
Post 1 (https://t.me/QuantumStellarInitiative/31011)
Post 2 (https://t.me/QuantumStellarInitiative/31012)
Post 3 (https://t.me/QuantumStellarInitiative/31013)
Post 4 (https://t.me/QuantumStellarInitiative/31014)
Post 5 (https://t.me/QuantumStellarInitiative/31015)
Summary Post (https://t.me/QuantumStellarInitiative/31018)
Stellar Humanitarian Wealth Transfer:
? Passive Income Assets (https://t.me/QuantumStellarInitiative/22968)
? Project Aurora & Ukaz (https://t.me/QuantumStellarInitiative/21777)
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