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Unifty Launches Community Governed Dual Token Model Kick-Starting the Creator Economy

Tuesday, August 3, 2021 10:00 AM

BERLIN, GERMANY / ACCESSWIRE / August 3, 2021 / The leader in the NO-Code NFT creation and management platform space Unifty is launching its dual token on Wednesday 3rd of August. The new UNT Token will become available to everyone via NIF Token staking on the Unifty website.

Unifty is the "One-Stop-Shop" for all NFT creators and enthusiasts, the UNT token acts as the utility token of the Unifty Ecosystem and will be used throughout the entire ecosystem to unlock features, deploy services, pay fees, or use DAPPS (decentralized applications). The NIF token will now be used exclusively for governance purposes and proposal voting rights.

Alongside the dual token launch, the Unifty team are also unveiling their new, revamped website which allows anyone to easily access a continuously growing collection of powerful tools, services, and Dapps, learn more about the Unifty ecosystem, and stay up to date with all the latest news and developments.

These include the new, unique dual token model that separates governance from utility and empowers the Unifty community and stakeholder network in an expanding number of ways.

NIF token holders act as the network administrators of the ecosystem and can participate in governance and voting on grants/proposals. The Unifty network incorporates four types of governance proposals, including Grant, Vault, Internal Governance and General Resolutions.

The four respectively cover proposals that involve the minting and distribution of UNT via grants or activities such as liquidity mining, and the modifying of smart contract parameters associated with any particular grant.

Furthermore, single issues regarding proposed changes to default parameters of the Community Governance contract, such as minimum staking amounts, and time limits for governance actions are covered. As are simple text-based proposals that do not affect smart contract code, and are useful for polling and deciding on complex decisions that cannot be easily turned into code.

In addition to participating in governance, NIF holders also receive passive distribution of the new UNT token as a result of staking their NIF, and UNT rewards are increased for activity in proposal voting.

The UNT can be used to pay for network fees and smart contract deployments, and cleanly separates the functions of governance and utility across the ecosystem.

The dual token model represents a new era for NFT creators and enthusiasts by placing them in control of all Unifty decision making, and aligns with the platform‘s core values of 100% contract ownership for creators, 100% platform agnosticism, and 100% decentralization.

Markus Bopp, CTO of Unifty states "Decentralization should always be the answer in crypto. Maybe not right at its start, when the project is still young and its success is heavily reliant on great execution and the founding team's vision, but it should be the ultimate goal."

"This is why I'm incredibly excited to launch the Unifty Community Governance project and be able to ‘walk the talk.' The Unifty community is amazing and we owe our success to them, it's only natural to give them the control they deserve."

With multiple deployments on Ethereum, Binance Smart Chain, Polygon, Celo and others, Unifty is the true cross-chain NFT ecosystem featuring hundreds of creator-owned custom NFTs and NFT farms. Unifty's no-code approach for minting NFTs, the NFT Bridge Service, the NFT Swap Service and NFT Marketplace make it into the only complete ecosystem currently live.

About Unifty

Unifty is a no-code NFT ecosystem with a continuously growing collection of tools, services and Micro Dapps for the fast emerging Creator Economy. Unifty provides creators with a no-code solution to build powerful NFT based Dapps. Unifty paves the way for creating a stronger bond between Creators and their customers, community, fans and/or followers. With Unifty, Creators can access new revenue streams from their audience and provide the Creator`s audience value in form of digital assets and new engagement propositions with the Creator.


Dan Edelstein
[email protected]

SOURCE: Unifty

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