Phemex Will Delist Unifi Protocol DAO (UNFI) on October 30th

Unifi Protocol is designed to revolutionize blockchain economics by using a stablecoin as its gas token. This approach eliminates transaction volatility and inflation

Phemex is set to delist Unifi Protocol DAO (UNFI) on October 30th. Here's a closer look at UNFI and the reasons behind its upcoming delisting from Phemex.

UNFI Protocol Overview

The Unifi Protocol is designed to revolutionize blockchain economics by utilizing a stablecoin as its gas token. This approach eliminates transaction volatility and the inflationary nature of gas fees, aiming to build a sustainable blockchain model.

The protocol operates across multiple blockchains and provides a range of decentralized finance (DeFi) products, including a cross-chain bridge (uBridge), a multichain automated market maker (uTrade), and DeFi arbitrage strategies (DARBi). By integrating a stablecoin as the gas token, the protocol seeks to reduce reliance on inflationary gas tokens and create a more stable blockchain economy.

The network utilizes a proof-of-stake (PoS) consensus mechanism for security, which is known for its scalability and energy efficiency compared to proof-of-work (PoW).

UNFI Token

UNFI is the governance token for the Unifi Protocol DAO, allowing holders to participate in the decentralized governance of the protocol. Holders can propose and vote on changes to the protocol, including updates to gas tokenomics, DeFi product parameters, and network governance rules.

The token is crucial for decentralization and governance across multiple blockchains. It has a total supply of 10 million tokens, with approximately 5.8 million currently in circulation.

UNFI is distributed through Binance Launchpool and staking initiatives, and liquidity for the token is supported across various chains.