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An understanding of Unit token, their uses, tokenomics, and the distribution conditions.
UNIT is a fixed supply utility token native to the UnitChain, our layer one blockchain created with Substrate and purpose built to scale the token economy. As UnitChain is a sovereign blockchain, independent from other ecosystems like Ethereum, Solana and Cosmos the UNIT token currently can only be used within the Unit Network application.
Fees - An explanation of what to expect from the network fees that are attracted from using Unit Network.
Network fees are an important part of any decentralised protocol and Unit Network is no exception. A big difference is that compared to other decentralised exchanges is we charge a flat fee on all exchanges and withdrawals, but there is no cost or commission to transfer, stake / unstake or bond stake.
- 0.5% to the UNIT Treasury
- 0.5% to the user who invited the exchanger
- 0.5% to the liquidity pool
- 0.5% to the Treasury of the token being exchanged
Every withdrawal on Unit Network incus a 1% withdrawal fee split in half:
- 0.5% to the UNIT Treasury
- 0.5% to the Vault who is processing the withdrawal
- Securing the UnitChain: Power the Unit Network operating system and securing the Unit Network blockchain
- Reserve asset: Used to purchase and/or back industry, city, agency, stable, project, personal, and other tokens
- Operating Nodes: (network fees for running nodes which go to network node operators)
- Liquidity Pool Staking: Provide trading liquidity to the UNIT-USDU pool by staking to receive up to 0.5% of every trade
- Vaults: The reserve asset for crypto loans and facilitates decentralised wrapping / unwrapping
- Bond Staking: Earn additional UNIT tokens by locking up your UNIT holdings
- Community Incentives: Used to pay out rewards and tips
- Platform Currency: Used to purchase items for the stores
- Ticker: UNIT
- Total Supply: 1,000,000,000 UNIT
- Sale Supply: 500,000,000 UNIT (50%)
- Bond Staking: 200,000,000 UNIT (20%)
- Core Team: 200,000,000 UNIT (20%)
- Operations: 100,000,000 UNIT (10%)
The UNIT token is backed up by several cryptocurrencies like BTC. ETH, BNB etc. that buyers must use to purchase the token. The backing is created by locking 90% of all crypto raised through UNIT token sales into the UNIT treasury.
- 1.This crypto provides immediate, transparent and real value to the UNIT token
- 2.The crypto can be redeemed by UNIT token holders at anytime if they burn their tokens
- 3.UNIT becomes an index of the entire crypto economy while also growing in value by receiving 0.5% of every exchange on Unit Network
A token with these fundamentals has never existed before.
200,000,000 UNIT tokens are distributed as rewards to users who lock their UNIT into the Bond Staking pool. 10,000,000 UNIT is paid out each year for 10 years after which a halving begins each year until the supply is depleted.
200,000,000 UNIT tokens are distributed between 200 people (1,000,000 UNIT per Core Team member) with a 3 year cliff and a 5 year vest from start date of signing the Pioneer Cooperation Agreement.
100,000,000 UNIT tokens are gradually paid out as operational bonuses to Core Team members and Advisors who who's referrals purchase UNIT from the sale rounds.
- 20% of USD sale value in UNIT credited to Core Team
- 10% of sale value in UNIT credited to Advisors
Please note: UNIT Token sale rounds are not live for public sale. If you wish to purchase UNIT please do so from the UNIT / USDU exchange. When the sale tab is live for public sale you will be able to follow the process below to make a direct purchase.
Get invited to unit.network, then send btc/eth/dot to deposit address, or use credit/debit card to use a service which does the onramp like moonpay/ramp.network and buy UNIT.
Deposit crypto to your Unit Network wallet and buy UNIT using the instructions below ⬇️
How to deposit crypto to Unit Network:
- 1.Log in to unit.network.
- 2.Click the Wallet tab.
- 3.Click Address.
- 4.Select from the TOKEN dropdown which token (BTC, ETH, DOT, etc.) you want to deposit.
- 5.In the “YOUR TRUSTED ADDRESS” field, copy and paste the personal wallet address from which you will send your chosen token. Please make sure this is your personal receiving/sending address, and not an exchange address.
- 6.MAKE SURE TO SEND FROM YOUR PERSONAL WALLET, NOT FROM AN EXCHANGE. If you don't have one, try www.exodus.com.
- 7.Click Add Address.
- 8.Click Deposit.
- 9.Select from the TOKEN dropdown which token you want to deposit.
- 10.Type in the quantity or dollar-equivalent amount of your chosen token you want to deposit. Your deposit address should already be populated.
- 11.Click “Deposit”.
- 12.On the next page, copy the address under “DEPOSIT [Token] ADDRESS” (second field) into the wallet from which you are sending the funds (first field). You can use the QR code as an alternative to copying your "deposit [token] address".
- 13.Send the amount of the token in the “[Token] AMOUNT” field.
- 14.After sending, copy the Transaction ID/Hash and paste into the “TRANSACTION ID/HASH” field. Click UPDATE.
- 15.Under “STATUS”, the deposit status will be “pending” until it turns to “completed”. You can hit the refresh button to see updates. Blockchain transactions can take some time.
- 16.Once the deposit is complete, click on the WALLET tab. Your wrapped token will be there.
Once wrapped tokens (e.g. BTCU) are in your wallet, two ways to buy UNIT:
A - buy on sale
- BUY UNIT on the UNIT token Sale page using one of the reserve assets (BTCU, ETHU, DOTU) https://www.unit.network/t/UNIT/sale
B - buy on exchange -buy USDU on the USDU token Sale page using one of the reserve assets (BTCU, ETHU, DOTU) https://www.unit.network/t/USDU/sale
- buy UNIT on the exchange page of the UNIT token. https://www.unit.network/t/UNIT/exchange_buy
There is a "push" and a "pull" way to value the UNIT token:
a. Push. The current and expected future capital flowing into the UNIT treasury “pushes” up the UNIT price like a “discounted cash flow” because capital that flows in is like a dividend to UNIT holders and the treasury itself is a “dividend-repository” accessible to token holders in a trustless way. Capital to the UNIT treasury comes from three sources:
i. Trading fees. 0.5% trading fee on millions and then billions of DAOs/tokens created across Unit Network to represent the value captured by an industry, city, business, brand, personal identity, idea, or anything else one can imagine. ii. Withdrawal fee. 0.5% fee is assessed on withdrawals from the platform. iii. Token sales. UNIT token sales, which bring deflationary capital onto the network and into the UNIT treasury, build a stronger and stronger sun-like center of gravitational pull around which the global token economy can revolve.
b. Pull. Circulating UNIT token has multiple uses that lock it up to create a supply shock and “pull” the price up through the various sales rounds and bring in more capital to the UNIT treasury to back the token economy. i. Other Project Banks/Treasuries. UNIT can be used to buy into other project tokens, and much of that UNIT will go into treasuries and will stay there as long as the project token sports an above-book valuation (i.e. token owners believe it the project has a future). ii. Bond Staking. UNIT can be staked to earn bonding rewards, similar to DOT bonding rewards by DOT holders who stake DOT tokens on the Polkadot network iii. Vaults. UNIT can be locked by UNIT owners in vaults they create. Deposits to the network of BTC, ETH, DOT, etc. by other users are i. wrapped by these vaults to the Unit Network in a decentralized way as BTCU, ETHU, DOTU, etc., and ii. loans to vaults, whose UNIT is locked until the loan is completely repaid, making UNIT the pristine global reserve asset for the world’s “decentral bank”.
UNIT’s decentralised treasury is backed by reserve assets BTC, ETH, DOT, MATIC, SOL, BNB, ADA, ALGO, AVAX, ONE, NEAR, XLM, ATOM, TON, CRO, and USDU. These assets (total value in the treasury divided by total token supply) represent the floor price of the UNIT token.
There is a token bonus specifically for the UNIT core team, which includes a combination of UNIT tokens (20%) and cash (10%). After the 10% cash bonus, 90% of funds raised in private token sales are not to be used for runway or operating expenses but simply to back up the network/protocol value, creating the floor price of the UNIT token.