Binance Announces: What Is The New Unifi Protocol?


The eighth project at Binance Launchpool has been announced as Unifi Protocol. Binance has announced that it will list its own cryptocurrency UNFI as it launches yield farming applications tomorrow to earn UNFI.

Binance, one of the world’s leading cryptocurrency platforms, announced the next project to be supported by Binance Launchpool. Unifi Protocol, which will be the 8th project of Binance Launchpool, is being introduced as a multi-chain DeFi solution based on smart contracts.

Binance users will be able to stake their tokens in Binance Coin (BNB), Binance USD (BUSD) and Ethereum (ETH) pools for 30 days to collect UNFI, the platform’s own cryptocurrency as of tomorrow. In the post he shared on the Binance official site, he stated that the total token supply for UNFI is 10 million; He said that the number of tokens to be distributed with Launchpool is 400,000 UNFIs, corresponding to 4% of the total supply.

Binance announced on November 19 that it will list the UNFI coin in the innovation section. Users will be able to trade on UNFI / BTC, UNFI / BNB, UNFI / BUSD and UNFI / USDT parities.

What is Unifi Protocol (UNFI)?

Unifi Protocol is an interoperable multi-chain platform that aims to provide product development tools in the decentralized finance area (DeFi). The first product based on the platform’s smart contracts is uTrade, a decentralized automated market maker (AMM) and token platform.

UNFI, a BEP-20 and ERC-20 token, is the governance token of the Unifi Protocol. Platform users can stake UNFI tokens or transfer them to Community Council Representatives for a certain amount of UNFI. Community Council Representatives can make some decisions about the strategies and future of the platform.

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