Following the positive feedback received by the DAO for our UIP004, Unitus is thrilled to announce today the upcoming deployment of our Lending protocol as well as the expansion of Liquidity Mining incentives on Base on Thursday April 4th!
Keep reading for an in-depth article about the details of our deployment and the rationale of this expansion!
Introducing Base, the Layer 2 built by Coinbase!
Built by Coinbase using the OP Stack, Base is an EVM-equivalent optimistic rollup chain that operates as a Layer 2 solution to the Ethereum network, offering enhanced scalability and efficiency while maintaining compatibility with Ethereum’s ecosystem.
One of the most notable selling points of Base is its close connection with the industry titan Coinbase, which has helped it attracting a multitude of partners and projects, numbering in the hundreds, facilitating the creation of a diverse and vibrant DeFi ecosystem. With a current TVL of more than $1 billion according to DeFiLlama’s data, Base is currently witnessing an exponential growth. Over the past 30 days alone, it has welcomed thousands of new users and witnessed an influx of hundreds of millions of TVL. Recognizing the immense potential of this ecosystem, we at Unitus are thrilled to seize this opportunity and announce our deployment.
The Only Lending Protocol of Its Kind on Base!
Unitus is proud to announce its imminent deployment on Base, where it soon will the only lending protocol of its kind.
In the upcoming Unitus V2, we plan to introduce a SuperCharged Mode, where the Loan-to-Value (LTV) ratio for assets of similar value (such as ETH, wstETH, cbETH, etc.) can be set very high, further improving capital efficiency for Unitus users. Unitus is committed to becoming the premier destination for LSD assets, providing unparalleled flexibility and efficiency!
Starting April 4th 2024, users will be able to use Unitus on Base to leverage money markets for WETH, wstETH, cbETH, USDC, and USX and earn UTS emissions from doing so!
Unitus introduces a novel tokenomics structure that favors rewards for those committed to long-term capital contributions over short-term, opportunistic liquidity. The BLP mechanism will be active on Base to ensure that those who contribute liquidity UTS/DF and UTS/USX (referred to as Bonded Liquidity Provisioning, or BLP) on our partner DEXes, such as Aerodrome on Base, will unlock UTS emissions for their deposits and borrowings!
Conclusion
Unitus’ expansion to Base signals our commitment to evolve our product and extend its accessibility to the main DeFi ecosystems! We invite you all to check out our new markets and participate to our liquidity mining campaign on Base at unitus.finance!
