Unifi Protocol Token Migration Announcement
In April, Unifi posted its first Core Referendum to be voted on by UNFI holders. The topic of the referendum was UP to UNFI migration. Migration is a critical part of the Unifi ecosystem as it allows liquidity providers on Unifi blockchains to participate in Unifi’s Global Governance Model (GGM).
With information gained in the Core Referendum, Unifi began a series of UP to UNFI migrations. Each migration in this series will test out different styles or processes of migration that have been suggested by the community.
TOKEN MIGRATION ASSESSMENT AS FOLLOWS:
Migration #6 will open on May 24th, 2021 and close on May 28, 2021.
There will be 2000 UNFI available for this migration.
The UP to UNFI ratio will be discovered based on a fixed amount of UNFI allocated to UP from each blockchain.
Each UP to UNFI migration is unique. Potential migration participants should read and understand the entire document, all terms, conditions, and attachments before proceeding. Participating incorrectly or violating the terms and conditions can cause a loss of tokens.
Why is migration needed?
UP is the blockchain-specific liquidity farming token earned as a reward for liquidity providers. $UP earned can then be migrated to UNFI to give access to the UNFI Proof of Stake ecosystem. This includes $UNFI holders having a meaningful voice in the GGM and earning UNFI staking rewards. UNFI will be claimable after the close of the event and the results are processed.
ABOUT UNIFI
Unifi Protocol is a group of non-custodial, interoperable, decentralized, and multi-chain smart contracts providing the building blocks for the next generation of DeFi development. Unifi provides a bridge to connect the existing economy of Ethereum-based DeFi products to growing DeFi markets on other blockchain. UNFI is the first sustainable DeFi token to incorporate Proof of Stake elements into its powerful DAO representative governance model.
