Unite Finance offers the first decentralized algorithmic stablecoin on the Harmony Mainnet. The mechanisms, underlying the protocol, are designed to ensure that the UNITE:ONE anchor is reached, and once it is reached, it is maintained to establish $UNITE as a mirror liquid asset to $ONE. The protocol achieves this by introducing unique economic and game-theoretic dynamics to the market with its three tokens.
About Unite Finance
The Unite Finance protocol runs on a series of complex interactions, with the behavior of multiple stakeholders, driving the pricing dynamics of multiple ecosystem tokens.
Some features:
| 1 | When the UNITE price exceeds the peg, new UNITEs are minted to lower the price. These new UNITEs are distributed to USHARE holders in the boardroom, so placing USHARE in the boardroom makes the most logical sense during this period. |
| 2 | When the price of UNITE is at a fixed level, UNITE holders can use UNITE-ONE LP to increase their returns. |
| 3 | When the price of UNITE falls below the anchor, the investor's strategy should be to buy UBOND, using UNITE. The UNITE, used to buy UBOND, will be burned, which will reduce UNITE's supply and bring its price back to a peg, after which investors can sell UBOND for a profit. |
In the short term, until pegging is achieved, UNITE will focus on optimizing the protocol and creating wealth for our early investors through Farms and Boardroom.
A portion of the proceeds from this process goes to a community-owned DAO fund that plans to create a new Harmony incubator and launchpad to provide new opportunities and growth for the entire Harmony ecosystem.
Additional information about defi app
An introductory document has been published on the site. Thus, each user can study the project in more detail. The RoadMap section marks future updates.
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The audit of the smart contract has been verified and can be found at the link.