In the ever-evolving landscape of DeFi, Unitus Finance emerges as the Next-Generation Multi-Chain Money Market. Through this article, we embark on a journey to unveil the essence of Unitus Finance, providing insights into its background, key features, token, and audit.
Continue reading to be at the forefront of those who grasp the future of financial markets, and don’t forget to follow for the latest updates!
Background and Context: the dForce X Plan
Active since 2019, dForce is a historical protocol that built a complete DeFi Matrix composed by its decentralized stablecoin USX, as well as by Assets, Lending, Trading, and Bridge. According to their latest Ecosystem Report, dForce boasts a TVL of $178.93 M spread among the nine blockchains it is operative on, namely Ethereum, Arbitrum, Optimism, BNB Chain, Polygon, Avalanche, Base, Conflux, and zkSync.
On October 7th, 2023, the dForce governance demonstrated unanimous support for the dForce X Plan. The X Plan empowers dForce with the capability to spin off its derivatives to create multiple specialized protocols, each with its own unique token and tokenomics. This strategic initiative is designed to bolster efficiency, elevate the DF token into a value-capturing governance asset, and align interests across the diverse segments of the dForce ecosystem.
As approved through DIP058, Unitus Finance is the very first protocol to take the opportunity given by the X Plan and emerge from dForce — in particular from its Lending protocol. At the time of publishing, Unitus Finance is spinning-off dForce Lending code and building on top of it to launch as an innovative Money Market.
Key Features of Unitus Finance
Money Markets play a pivotal role in the world of DeFi, empowering users to leverage their crypto assets to access different tokens or liquidity without having to sell their holdings, all while generating earnings. Since their inception, Money Markets have improved dramatically, and with Unitus they will reach a new standard of accessibility, efficiency and liquidity.
Let’s dive deeper into what makes Unitus Finance stand out.
1. Truly Multichain: Unitus Finance will soon enter the DeFi arena supporting six chains at launch day. This multichain approach is a significant leap forward in overcoming the fragmented liquidity issue that has long plagued the DeFi ecosystem.
2. Cross-Chain Lending: By integrating dForce’s native USX stablecoin, Unitus Finance unlocks a true multichain experience for its users, allowing them to secure omni USX liquidity with collaterals across different chains.
3. Novel Tokenomics: Unitus leverage its token UTS to introduce a fresh approach to tokenomics and liquidity mining mechanisms, encouraging long-term capital contribution and interest alignment for a more sustainable and robust ecosystem.
4. Maximum Capital Efficiency for LSD and RWA: With LTV ratios reaching as high as 99%, Unitus Finance excels in maximizing capital efficiency by supporting higher loan-to-value (LTV) ratios for peg assets, including prominent Liquid Staking Derivatives (LSD) assets like wstETH, rETH, and cbETH, as well as RWA yield assets such as sDAI and sUSX.
5. Customized Money Market for Long-Tail Assets: One of Unitus Finance’s standout features is its isolated market for long-tail assets. This tailored approach allows for flexible risk parameters, enabling the inclusion of a broader range of assets without compromising security or efficiency.
But it doesn’t stop here! DeFi is a very dynamic environment, and so will be Unitus in the years that come. Expect to see the addition of new assets and the introduction of thrilling features in the near future. Stay tuned for our comprehensive roadmap for more details.
The $UTS Token: Powering Unitus’ Decentralized Future
To better align our interests with those of our users, foster the decentralization of Unitus, and ensure the protocol’s success across the multiple chains we intend to deploy to, Unitus is excited to introduce the $UTS token. The $UTS token serves three primary functions:
- Reward Emission Catalyst: $UTS will play a central role in the emission of rewards, enabling UTS-DF and UTS-USX Liquidity Providers to boost their rewards emissions.
- Interest Alignment and Bootstrap: $UTS will serve as a tool to align interests with our users and bootstrap of Unitus. We will soon unveil a multi-chain liquidity mining campaign, powered by $UTS, designed to facilitate our ecosystem’s expansion.
- Governance Participation: $UTS holders will have the opportunity to actively engage in the decision-making processes of the protocol through our governance, ensuring that the community’s voice is heard.
The $UTS token represents our commitment to creating a more inclusive, decentralized, and rewarding ecosystem for our users.
Ensuring security: Unitus’ Audits
As a spin-off from dForce Lending, Unitus proudly inherits a code that is battle-tested since 2019 and that has been audited by leading web3 auditing firms like Trail of Bits, ConsenSys Diligence, Certora, CertiK, and MixBytes.
At Unitus, we take security seriously, and as part of our commitment, we pledge to conduct and publish audits for any code we develop in the future on top of the one inherited from dForce.
Final Thoughts
In conclusion, thanks to its key features, Unitus Finance is poised to be a game-changer in the world of DeFi, offering a new improved paradigm for multichain Money Markets. The future of DeFi has arrived, and it’s called Unitus Finance.
To stay updated on the latest developments, announcements, and opportunities, be sure to follow our social media channels.
