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Unifi Protocol DAO is a group of non-custodial, interoperable, decentralized, multi-chain smart contracts providing the building blocks for DeFi development. The project provides a bridge to connect the economy of Ethereum-based DeFi products to the growing DeFi markets on other blockchains. uTrade, a decentralized Automated Market Maker (AMM) and token exchange, is the first product built on the Unifi Protocol DAO smart contracts.
uTrade is made up of a group of smart contracts called a uPair. Multiple token trades can be executed within one uPair, allowing a user to trade or fund liquidity in uPairs with an unlimited combination of tokens. The UP token is minted as a representation of the revenue generated by the Unifi Protocol DAO ecosystem.
The tokenomics of UP tokens may differ from one blockchain to another to customize the rewards provided and ensure a sustainable marketplace. The UP token has no max token supply, and can be swapped to UNFI based on dynamic market price rates.
UNFI token holders can earn UNFI rewards by staking and delegating to Community Council Representatives. Representatives and their communities across multiple blockchains forms the Unifi Global Governance Model powered by UNFI.