UNIT, a DeFi startup building on the Polkadot blockchain, has closed $2 million as the second round of Initial Offering closed smoothly amidst the recent cryptocurrency market crash. UNIT Platform was finally live for the ICO purchases featuring Trusted Addresses – secure addresses to withdraw/deposit/borrow via vaults, Deposits – converting BTC/ETH/DOT to BTCU/ETHU/DOTU, Withdraws – converting BTCU/ETHU/DOTU to BTC/ETH/DOT , and Sale – using BTCU/ETHU/DOTU to buy tokens.
Hoping to enable anyone in the world to participate in and benefit from all token-based economies, Unit Network provides a free, simple and secure pathway for businesses, projects and individuals to create their own tokens, which can be ‘community’ or ‘social’ tokens. Like WordPress for web pages, Unit provides easy-to-use tools to seamlessly create and manage a token value ecosystem that digitally represents value captured by industry, city, business, brand, personal identity, idea, or anything else one can imagine.
UNIT token is meant to power the Unit Network and secures the Unit Network blockchain and act as reserve token to purchase industry, city, agency, stable, project, personal, and other tokens. Another feature that’s coming soon is Unit Vaults, in which anyone can use UNIT token as collateral that will allow for decentralized/wrapping of networks.
Funds raised from token sales have gone straight into UNIT token’s bank, which is accessible and completely transparent in real-time fashion. 90% of this fund is planned to be moved into the treasury soon to increase the floor value of the token.
After the second-round sales of 10,000,000 UNIT tokens were successfully completed. Staking and Exchange features were immediately made available to be able to provide liquidity to the pool. USDU as a stable coin in UNIT platform is now also available for exchanges using selected ‘blue chips’ tokens, which are BTC, ETH, DOT, SOL, MATIC, BNB, and KSM.
From the total supply of 100,000,000 UNIT token, the early first and second round of offering only has released 20,000,000 UNIT so far, which means 46,000,000 UNIT token is still available for the next rounds of sales. From the third round of sales and so on, 1,000,000 UNIT tokens will be sold in each round with an increase of price between each round according to the Fibonacci formula.
The third round of sales is expected to begin in the following week to raise another $320,000 by selling UNIT token at $0.32 per UNIT token, compared to the price of $0.2 per UNIT token on the earlier round. The 4th round is planned to be immediately opened as 1,000,000 UNIT token allocation of the 3rd round is sold out, and will be sold at $0.52 per UNIT token to raise another $520,000.
As the whole cryptocurrency market is slowly recovering from the recent crash toward the end of the year, UNIT token is firing up to also complete the 5th and 6th round of sales before the year of 2021 is ending, which means a total of $6,000,000 is expected to be raised very soon.