Unit Network
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What is Unit Network?

Create communities, currencies and commerce

About

Unit is powering the next economy by connecting providers and customers, digital assets, and building a global community. We believe that the power of meaningful connections is what drives and changes the world. With hubs in 200 cities globally, we connect entrepreneurs, experts, investors, innovators, among many more, across different industries. We help
  • millions of service-oriented entrepreneurs across different industries gain access to customers
  • entrepreneurs raise funds in a sustainable way
  • the ordinary person to understand, access and participate in the digital economy of the future
  • communities (industries, cities) to have their own (economic) value backed industry or city currency.
We create a more fair economy using tokens on the blockchain, with the potential to distribute value more fairly and transparently globally. We reduce inequitability in the world while creating a shared and token driven economy.
In essence, we are a technology- and community driven blockchain project focussed on serving the unaddressed segment of the long tail token economy within the nascent blockchain industry.
3 reasons scalable user interface funds on system
Unit blockchain built on Substrate and linked to the interoperable Polkadot ecosystem.

Why

More than one-third of the world's population is unbanked and is severely limited in access to capital investment and infrastructure to conduct business independently. In addition, currently, hub-based megaliths enjoy economic surplus, disregarding the many early and ongoing contributors to the establishment of overly monopolistic positions of power and inequitable wealth.
We believe that the big wealth inequity in the world due to the exclusivity of our prevailing financial systems is the main reason for many of the global issues.
In our view, a more decentralized allocation of wealth created through our collective human economic activity will help more people live a peaceful and fulfilled life.
New technologies (e.g., 5G, artificial intelligence) and financial instruments geared up for the new economic mode operandi will lead to a mass adoption of digital assets and acceptance and ubiquity across all countries and industries.
Over the recent years, blockchain technology has matured in a way that it is now able to reach scalability; advances in user interface designs are supporting the leap towards mainstream adoption. Lower platform fees and faster and reliable clearing will enable providers to enjoy fairer rewards in a trustless blockchain-based mechanism.
In addition, we are seeing funds inflow into blockchain industry on a global scale. Not only are retail investors driving the movement, but also more and more large institutional investors have started to invest into the economy of the future.
The latter is important, as it means that there are funds available for blockchain projects to advance their product and service offerings and thereby grow the ecosystem exponentially.

Vision

We answer to the quest for a shift from shareholder capitalism to stakeholder capitalism (e.g., the World Economic Forum DAVOS Manifesto 2020 quest).
The few hold most of the world's wealth, and Unit provides direct opportunities for the haves to share with the have-nots and all to be contented in a more sustainable and prosperous world economy.
We reduce inequity in the world, by creating a bigger economy, and provide mechanisms for the additional value created to be shared in a cooperative way across more stakeholder groups.
This means, that we move from a centralized, hub-based gig economy with megalith gainers to a more distributed economy where many contributors are rewarded for their participation in the economic value creation.
Ultimately, we think that each stakeholder should become a shareholder in the economy of the future. We use (utility) token economics to make this possible. Importantly, shifting from shareholder to stakeholder capitalism does not mean taking value away from large organizations, innovative leaders, or entrepreneurs who drive these organizations, but rather, we want to create a bigger pie and have users, customers, and employees also receive some of that value created.
In our vision, by 2030, millions of communities (organisations, industries, cities) and individuals will have issued their own tokens and transact with each other in a collaborative and competitive ("co-petitive") token economy and support each others' livelihoods in a sustainable and resilient way.

Mission

At Unit, we develop technology and products that help make the digital economy accessible to a wide audience. We do so in developing global communities, industry-focused marketplaces and incubating a highly selected portfolio of pioneering token economy showcase projects.
We work towards making the economic value-based (utility) token economy a reality. For us, tokens are not merely a store of value, but serve as a tool to spur and track fundamental economic value creation.
We're also focused on industries where there is a significant number of providers and employees providing valuable products and services. Each of these industries ranges from several hundred millions of dollars to tens of billions of dollars. All of this value has created products and services provided to customers. However, the majority of the value is merely going to a small number of people.
We believe that in the future, we can create a cooperative economy where these billions of dollars, whether it's in the fashion industry, or the current automotive fuel industry, or the real estate industry, don't just go to the landlords or fashion conglomerates but instead go to the employees, the customers were essential in, in being part of these organizations' successes.
Stakes and transaction payments may be without intermediary and with full provenance. They may range from the price of a haircut to the capital backing of a multi-talented team of art or property investors. Activities and transactions will be efficient, lower in friction and cost, and reach locally and globally.
We hope that through our offerings, people will progress from living in a world where they always worry about themselves, need to think about how to grow and thrive and develop individually to a world where they can support and help one another benefit and provide mutual support.

How It Works

We see technology, transparent, inclusive, and fair economic and community governance models to be major drivers to advance the economic system.
We make use of blockchain technology to create the infrastructure for an economic system, in which economic value can be tracked and allocated in a trustless and transparent way.
Airbnb or Uber have been extremely innovative projects that have created commerce opportunities for micro-entrepreneurs to rent out their apartment or become drivers and provide services in the form of rides or apartments to customers.
Our main difference from Airbnb and Uber is that both of these organisations are worth and generate billions of dollars, but none of this value goes to the drivers or the Airbnb hosts, who are so essential for that value creation.
Unit creates marketplaces like Airbnb or Uber, however, with a new economic model where the providers and the customers are rewarded for all this value creation and growth, not just the founders and the investors.
Finally, we make education about the digital economy and entrepreneurship a priority - we create conferences & 6 week master programs for our stakeholders to understand how to benefit from the technology of the future.

Values

We believe that the combination of our strong and growing global community with our innovative approach will be a substantial factor to solving inequity in the world.
Our community is composed of creators who push boundaries, service providers, leaders that initiate and drive change, including some of whom have built billion-dollar companies that transformed our daily lives and the world.
UNIT is a global ecosystem which brings together individuals to collaborate, support one another, and create solutions to pressing problems in the world. Our values are:
  • zero-exclusivity
  • radical transparency
  • courageous innovation.
We create the technological infrastructure and service offerings that enable participation and rewards collaboration.
We have provide clear metrics that help participants in the token economy understand the underlying value of a token issued in the Unit ecosystem.
We encourage the pioneering mindset and foster zero-to-one innovations within our ecosystem. We also make it incredibly seamless to book a product or service within one of our marketplaces by connecting stakeholders to experts and match customers to options that serve their needs best.

Priorities

Our portfolio of offerings includes four main categories:
Unit Chain: our native blockchain built on Substrate and linked to the Polkadot ecosystem. The Unit Chain serves as the basic infrastructure for millions of projects to issue their own tokens and participate in the Unit Ecosystem.
Unit Products: In the Unit Ecosystem, there are three main products: Unit Conferences, Unit Masters, and community-based Unit Tokens (industry, city, stable tokens). Unit Tokens are tokens that are a series of carefully selected priority projects driven by Unit Core Team and with own fundraising structure.
We have identified 200 cities around the world which have a very high population density, as well as a sizeable population so that we can build these thriving communities and industry-related marketplaces in an economically sustainable way.
In addition, if a member wants to start a business, Unit will support these various projects. By further analyzing financial data, we can ensure that these resources are allocated efficiently and ensure growing and thriving organisations within Unit ecosystem. In order to support expansion of Unit ecosystem projects, we provide following features:
Unit Features: Our technology is built with the aim to empower value-creation within and across communities and has three main features: wallet, chats and profile.
Token Features: With our tokens and the tokenisation of transactions, we create a new cooperative economy, where the founders, and the investors have aligned incentives with the customers and the employees. In order to understand, assess and grow the value of each token issued on the Unit Chain, we provide a range of token economics transparency metrics (e.g., bank, treasury, community), growth (e.g., staking, stores, competitions) and community-based governance options (e.g., searches, polls, posts).

Economics

The economics behind UNIT are fundamentally very simple and very similar to other platforms and organisations which provide value to society - whether it's Uber, which is connecting drivers and customers or Airbnb connecting hosts with guests.
We believe that by connecting providers and customers in different industries, we're able to create value for the customer, for the provider who has a product or service to sell and by taking a small service fee, we're able to grow and scale this ecosystem. But we're doing one thing differently. Instead of all this value being created, simply being shared by the founders, and the contributors who have put in their time and energy in growing the service. We believe in supporting all the different users whether it's providers, customers, and people who have grown this ecosystem.
Contrary to most token projects, we believe that by creating this economic value, we'll be able to back these tokens with real inherent value that is created.
Unit ecosystem participants are rewarded for their contribution through indirect allocation of transaction fees that are generated through real economic value transactions that occur on Unit Chain.
The revenue generated through transaction fees is divided in 4 equal parts to reward different 4 stakeholder groups within the platform:
  • 0.5% to the Treasury of the token being exchanged
  • 0.5% to the liquidity pool
  • 0.5% to the user who invited the exchanger
  • 0.5% to the UNIT Treasury

What is the Token Economy?

At Unit Network, we strongly believe that the world needs a more fair and equitable economic system, aligning incentives between customers, employees, founders and investors.
Tokens lay the foundation for a better system by applying blockchain technology to enable better ways for value to flow and be distributed. That’s why we built Unit Network – the fastest, easiest, and most advanced token builder.
Similar to how Google changed Search, Facebook transformed social networks, Apple led the way for smartphones, Unit Network revolutionises tokens/value – bringing the token economy to the mainstream. We believe that Unit and the token economy are going to change the world more than search, social networking and smartphones put together.

What is tokenisation?

Tokenisation represents a mind shift in how business can be conducted and incentive mechanisms to organically drive growth. It is a system of digital cooperation, where ownership is shared for an economic, political or social purpose. Incentives to cooperate are built into a token by nature.
From its inception Unit Network has served as a community owned tokenisation and financial infrastructure built with Substrate and launching on Polkadot. We have long committed to the ideals of permissionless access, distributed security and immutability as the essential components for accelerating access to financial and community building services without concern of discrimination or counter-party risk.
We believe that fundamentally all people share similar wants and needs; safety and stability, purpose in life, and connection. With Unit Network, we aim to create impactful connections throughout communities and marketplaces, creating a cooperative economy powered by tokens.
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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.