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Unifi Protocol DAO

UNFI

4.1

Price
$6.21
10/2/2022, 1:19:08 AM
diamondHands

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Market

Market stats

Market cap

$28.0M

Volume (24h)

$7.5M

Circulating supply

4.5M UNFI

Typical hold time

5 days

Popularity

#164

All time high

$43.91

Price change (1h)

-0.55%

Price change (24h)

-1.99%

Price change (7d)

-5.05%

Trading activity

86% Buy0% Buy
14% Sell100% Sell

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Unifi Protocol DAO is on the decline this week.

The price of Unifi Protocol DAO has fallen by 5.05% in the past 7 days. The price declined by 1.99% in the last 24 hours. In just the past hour, the price shrunk by 0.55%. The current price is $6.21 per UNFI. Unifi Protocol DAO is 85.86% below the all time high of $43.91.

The current circulating supply is 4,515,405.427 UNFI.

About

UNFI is an Ethereum token that powers the Unifi Protocol, a platform for creating cross-chain DeFi (decentralized finance) applications. On Unifi Protocol, UNFI can be used to propose and vote on protocol upgrades and can also be staked to earn rewards. Note: Coinbase currently only supports UNFI running on the Ethereum blockchain (ERC-20).

What Is Unifi Protocol DAO (UNFI)?

Unifi Protocol DAO (UNFI) is a decentralized finance (DeFi) approach designed around a decentralized autonomous organization (DAO). The protocol is governed via a governance token, UNIFI. Unifi Protocol DAO aims to bring modern technology to the financial world. The protocol is a group of noncustodial, decentralized, and multichain smart contracts providing opportunities for the next generation of DeFi development. 

The protocol provides developers with functional DeFi blocks linking multiple blockchains together into one larger DeFi marketplace. DeFi is a term used for peer-to-peer financial services on public blockchains, especially Ethereum. In fact, Unifi utilizes the SEED bridge to connect the Ethereum-based DeFi products. SEED is a multichain token generated by Sesameseed’s blockchain node rewards. The features of Unifi Protocol DAO aim to be an incentivized liquidity pool, fee sharing governance token, loyalty reward token, lending platform, and cross-chain swap interoperability. Here, liquidity pool means a pool of tokens that are locked using smart contracts. A cross-chain swap is a process that enables traders to trade tokens across different blockchains without using an exchange service. 

UNFI is the ticker name of the Unifi Protocol DAO. The protocol uses UP token, i.e., Unlimited Potential Token, as the core for Unifi’s DeFi system. According to the UNFI whitepaper, every blockchain seeks to achieve the following functionality where UP token is transacted: 

  • Minting – creating new coins to increase supply 

  • Burning – to control the total supply 

  • Freezing – locking UP tokens to prevent them from transferring or burning

  • Voting – ability to vote on whether the UP token needs to be held or frozen

  • Proposal Creation – to present a limit of UP tokens to participate in certain governance functions

Unifi Protocol DAO combines blockchain and smart contracts secured under proof-of-stake (PoS) consensus mechanisms. Under the UNFI proof-of-stake ecosystem, users seek to campaign for elections of a Community Council Representative (CR). 

History of Unifi Protocol DAO (UNFI)

Sesameseed developed Unifi Protocol DAO. Sesameseed is a multichain staking community started in April 2018. Juliun Brabon, the CEO; Kerk Wei Yang; the head of smart contract development; and Daniel Blanco, the lead developer, are the core team of the UNFI community.

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Social

Unifi Protocol DAO on social media.

Unifi Protocol DAO was mentioned in 233 out of 1,810,058 social media posts on Twitter and Reddit on Sep 30, 2022. 187 unique individuals are talking about Unifi Protocol DAO and it is ranked #309 in most mentions and activity from collected posts.

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Key indicators

Contributors

187 people

Posts

233 posts

Dominance

0.01%

Volume rank

#309

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FAQ

What is the current price of Unifi Protocol DAO?

The price of 1 Unifi Protocol DAO currently costs $6.21.

What is the market cap of Unifi Protocol DAO?

The current market cap of Unifi Protocol DAO is $28.04M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Unifi Protocol DAO?

The all-time high of Unifi Protocol DAO is $43.91. This all-time high is highest price paid for Unifi Protocol DAO since it was launched.

What is the 24 hour trading volume of Unifi Protocol DAO?

Over the last 24 hours, the trading volume of Unifi Protocol DAO is $7.50M.

What other assets are similar to Unifi Protocol DAO?

Assets that have a similar market cap to Unifi Protocol DAO include XMON, Reserve, Merit Circle, and many others. To see a full list, see our comparable market cap assets.

How many Unifi Protocol DAO are there?

The current circulating supply of Unifi Protocol DAO is 4.5 million.

What is the typical holding time of Unifi Protocol DAO?

The median time that Coinbase customers hold Unifi Protocol DAO before selling it or sending it to another account or address is 5 days.

What is the relative popularity of Unifi Protocol DAO?

Unifi Protocol DAO ranks 176 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Unifi Protocol DAO?

Currently, 86% of Coinbase users are buying Unifi Protocol DAO. In other words, 86% of Coinbase customers have increased their net position in Unifi Protocol DAO over the past 24 hours through trading.

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