Unifi Protocol Creates Simple And Innovative Solutions For Web3 Applications

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Below is our recent interview with Steve Green, Project Manager at Unifi Protocol:

Q: Could you provide our readers with a brief introduction to your company?

A: Unifi Protocol creates simple and innovative solutions for Web3 applications. Since 2018 the Unifi team has been bringing groundbreaking blockchain products to market, beginning as a volunteer team with a vision for a decentralized future. This legacy of forward-thinking innovation is the foundation of Unifi Protocol, now an established company at the forefront of Web3 technology.

Q: Any highlights on your recent announcement?

A: uBridge is a fully audited EVM-compatible platform to bridge UNFI tokens from blockchain to blockchain without using wrapped tokens. This makes our bridge more secure and gives it more utility as compared to other bridges. uBridge is the next piece in the puzzle that officially transitions Unifi Protocol from being multi-chain to a cross-chain ecosystem, with UNFI as its governance token.

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Q: Can you give us more insights into your offering?

A: We’re a strong proponent of sustainable economic principles in the space and advocate for building blockchain tools that will last. These include our platforms for trading (uTrade), staking (uStake), and DAO governance. We believe uBridge is the most sustainable bridge for our token economy. Wrapping of tokens creates issues such as trusting the bridge operator, not being able to move wrapped tokens to other blockchains without first bridging back to your native token, and making the total supply more confusing. A wrapperless system allows funds to move more quickly and cheaper to many different blockchains, in a much less trustless manner.

Additionally, since UNFI is available on the most commonly used onramps for crypto (most notably Coinbase and Binance) this allows users on many blockchains and in many regions to easily buy UNFI and bridge it to the blockchain of their choice. They can then sell that UNFI for the native token they want – and just like that, Unifi Protocol has provided a globally-accessible onramp to that blockchain through UNFI and uBridge.

Q: What can we expect from your company in the next 6 months? What are your plans?

A: The next 6 months are going to be busy, and you can expect to see some major “UPgrades” to the entire Unifi ecosystem. Within the next few months you will be seeing referendums (since at our core we strive to operate as a DAO) to change the way UP works and create new incentives for community participation. UP is our fully-backed rewards token on each of the blockchains we are on. We want to ensure that our token economy is sustainable for the long term, not just a flash in the pan. We don’t necessarily build what’s trendy in the moment, but we build instead for the evolution and future of this space.

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Q: What is the best thing about your company that people might not know about?

A: Unifi operates over 400 smart contracts on 11 different blockchains, so we know our way around blockchain technology. We have been running nodes and advocating for sustainable solutions since 2018, and we aren’t going anywhere. Our partnerships – both strategic and regulatory – and vision for a decentralized future have enabled us to create a roadmap for Unifi Protocol that extends beyond the next 5 years. Very exciting times ahead!