Harmony
Unite Finance Brings Gamification to DeFi on Harmony (ONE), Introduces UNITE Stablecoin
Not unlike Ethereum’s DAI and Terra’s UST, UNITE introduces algorithmic stablecoins to a novel high-performance EMV-compatible blockchain Harmony.
Unveiled by blockchain veterans in Q4 2021 and awarded by Harmony Grant, Unite Finance is an ecosystem of products on Harmony (ONE) designed to address the most crucial needs of the DeFi era.
First-ever truly decentralized stablecoin launched on Harmony: What is UNITE?
UNITE, an algorithmic stablecoin pegged to the price of ONE, the core Harmony’s asset, is a flagship product of Unite Finance’s array. UNITE:ONE peg is guaranteed by a sophisticated algorithm that leverages unique economic and game-theory concepts.
Happy first month anniversary! 🥂
— Unite Finance 👊💙 (@finance_unite) January 25, 2022
Unite Finance launched on Christmas Eve with the goal of establishing the first algo stable coin on the Harmony. I took a month to reach peg making $UNITE a mirrored, liquid asset to $ONE.
Stay tuned for so much more to come 👀
👊💙
UNITE works together with other two tokens of the Unite Finance’s stack: USHARE and UBOND. UNITE is intended to act as a medium of exchange, while USHARE is a governance token. Also, USHARE is utilized to define the ownership of newly-minted UNITE.
UBOND is used to create an incentive mechanism that stimulates the creation of new UNITE. Also, it preserves the UNITE peg to ONE token price.
Despite being a very young product, Unite Finance has already accomplished a number of impressive milestones. It has seen active investor interest, with at one point over $30,000,000 in total value locked (TVL) in its ecosystem.
All early investors of Unite Finance are enjoying an amazing APY of 400 percent; rewards are yielded daily and distributed between token holders.
DAO, gamification, massive adoption: What’s next for Unite Finance?
Besides building a game-changing product, the Unite Finance team and some enthusiasts are advancing the ecosystem of the Harmony (ONE) blockchain itself through creativity and innovation.
While switching to a DAO-based governance system, Unite Finance is going to release a launchpad for the most promising products on Harmony (ONE). This launch will make investing in Harmony-based flagship protocols as democratic and seamless as never before.
Unite also plans to invest in several promising early-stage teams to nurture the next generation of Harmony’s DeFis, GameFis and other decentralized applications.
Last but not least, Unite Finance is going to make its first foray into the segment of metaverses. Its DeFi elements will be gamified to make the process of interaction with its ecosystem immersive and captivating.The goal is to create a fun, engaging experience that can be enjoyed by both new and experienced investors alike.
In a nutshell, browsing through the DeFi ecosystem of Unite Finance with its staking, yield farming, and so on, will closely resemble fantasy-themed RPGs.
