Binance has announced that it has made the token of the UNIFI protocol available in its programme called Launchpool, allowing it to be staked with BNB, Binance Coin, the official currency of the exchange.
— Binance (@binance) November 13, 2020
What is Unifi?
The Unifi Protocol DAO (UNFI) is a group of interoperable, decentralized, multi-blockchain, non-custodial smart contracts that can be used to create a decentralized finance (DeFi) marketplace.
Indeed this is a platform that allows obtaining good margins thanks to the governance token that is UNFI, based on PoS (Proof of Stake) so it can be locked in the relevant platform to receive rewards.
On Binance Launchpool users can stake their BNB, BUSD or directly Ethereum (ETH) tokens to be able to farm with the UNFI token.
This will be available from tomorrow, November 14th, while the token listing on Binance will start on November 19th.
The Unifi team is excited as they will be able to use the Binance Smart Chain platform for their protocol, commented the CEO of Unifi Protocol, Juliun Brabon:
“Trade on Binance Smart Chain is the latest addition to Unifi’s multi-chain collection of DeFi smart contracts. We’re excited to expand our unique, completely on-chain solution to trustless trading, liquidity mining, and proof of stake governance. UNFI is the Global Governance Token at the top of the ecosystem for Unifi Protocol on Ontology, Harmony, Tron, Icon, Ethereum and now BSC, designed to represent the contributions of our growing cross-chain community. We’re looking forward to premiering UNFI’s best staking rewards during the Launchpool event.”
A warm welcome also came from Binance CEO Changpeng Zhao:
“We are glad to support Unifi Protocol’s progress through Launchpool. It’s also great to welcome more multi-chain projects to Binance Smart Chain”.
Binance, BNB staking and DeFi
Surely this is good news for Binance which is gradually attracting more and more projects, in many cases focused on the decentralized finance sector.
In fact, some time ago Binance launched its own programme to attract new startups in the DeFi sector, making Binance Cloud available.
It is also worth noting that it is possible to do staking directly with the BNB crypto and also that the Pancake Swap project is dominating the new protocol.