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FAQ - Unit Network

Create communities, currencies and commerce

Unit Network FAQ

Why is Unit Network built with substrate and launching on Polkadot?
We believe Polkadot is currently the most advanced technology for building/connecting blockchains. Polkadot, and blockchain generally, provides the secure ground state that has been lacking in internet security since the internet’s inception. Costs for accounting, legal fees, and security are largely minimized because the security at the base protocol layer essentially eliminates the need for a series of hackable band-aid solutions that require significant and costly human and technology investments.
Polkadot is superior to Cosmos because it offers a better security model with the relay chain offering top down security for the network, as well as XCMP – cross-chain messaging protocol – offering inter-chain interoperability.
How does Unit Network generate value (“make money”)?
Unit Network's revenue model is very simple. Unit Network takes a 2% fee on all trades of all tokens across the network, equally split four ways:
  • 0.5% - To the user that invited / referred the exchanger
  • 0.5% - To the exchange pool and shared by the liquidity providers that facilitated the trade
  • 0.5% - To the UNIT treasury
  • 0.5% - To the traded token’s treasury
There is also a 1% fee on withdrawals/unwrapping from the network, of which:
  • 0.5% goes to the UNIT treasury and
  • 0.5% goes to the vault that processes the withdrawal/unwrapping.
What is the ecological imprint of the platform? How can it help/ease the global situation?
This is referring to environmental concerns such as Bitcoin’s Proof of Work energy use. Our platform uses Proof of Stake, which uses dramatically less energy, and our intention is to overtake Bitcoin.
What are the paid services and what services are free?
The only cost is token exchange (2% fee for each trade) and withdrawals. Messaging, sending, staking, all other services are free, except a very small amount of UNIT fees are generated from each write action to the Unit Network blockchain.