Unification Project to Access Billion-Dollar Market
• Unification is launching a Liquid Staking Derivative (LSD) on the Ethereum blockchain network that will allow users to earn ETH staking rewards and liquidity pool yield.
• The Shiba Inu community can participate by purchasing FUND tokens through several exchanges, including Uniswap, Ploniex, BitForex and MEXC Global.
• The launch of Shibarium has been delayed due to the development work on its Oracle of Oracles (OoO).
Unifying the Shiba Inu Ecosystem with Utility
The operator of the FUND validator for Unification recently shared plans of how their blockchain tool provider could create a liquid staking derivative (LSD) for FUND on the Ethereum blockchain network. Samuel McCulloch, the operator of the BigBossCapital validator, authored the entire proposal. This would involve employing FRAX's dual token model which would require creating two tokens along with a Curve liquidity pool. Pegged to FUND, one token called aFUND will be used to earn rewards in return for providing liquidity on a proposed aFUND/FUND pool while sFUND will be received when depositing aFUND in the staking vault and accruing staking rewards.
Voting Power Secured by Fund
The fund has already secured 33% of DAO voting power with an overwhelming 98.8% voting YES in favor as of February 17th. This level of support indicates strong enthusiasm from investors towards this project and its potential utility for Shiba Inu ecosystem participants.
Participation from Shiba Community
The Shiba Inu community can participate by purchasing FUND tokens either from Uniswap, Ploniex, BitForex or MEXC Global although it is not currently available on ShibaSwap yet which is set for launch soon on version 2 running on Shiba's Layer-2 scalability platform Shibarium. The platform was originally scheduled to launch earlier this month but was delayed due to development work being done on its Oracle of Oracles (OoO).
Can SHIB Hit $0.01?
With so much utility being added to the SHIB ecosystem through this project and its promise to access billion-dollar markets, it remains uncertain whether SHIB prices can reach $0.01 or higher even after taking into account any possible price fluctuations in ETH or other crypto assets making up part of this project’s offering. Only time will tell if these efforts pay off or not!