Unifty launches UNT token to jump-start the creator economy

Unifty, a pioneer and leader in NO-Code NFT creation, announced it is launching its dual token today, Invezz learned from a press release. It will become available on the official website to everyone via NIF Token staking. The NIF token will be used solely for proposal voting rights and governance purposes, while the UNT token will serve as the utility token of the entire ecosystem. It will be used to deploy services, use DAPPS (decentralized applications), pay fees, and unlock features.

A new, community governed dual token model and other novelties

The dual token model places NFT creators and enthusiasts in control of all Unifty decision-making, ushering in a new era. It aligns with Unifty‘s core values: 100% decentralization, 100% platform agnosticism, and 100% contract ownership for creators.

The Unifty team’s overhauled new site, www.unifty.com, lets people stay up to date with all the latest news and developments, such as the unique dual token model. This model separates utility from governance and empowers the platform’s stakeholder network and community in new ways. The site also allows people to learn more about the Unifty ecosystem and access a continuously growing collection of DAPPS, services, and tools.

Markus Bopp, CTO of Unifty, stated:

NIF token holders can take part in governance and vote on grants or proposals. The governance proposals incorporated by the network include Internal Governance, Grant, Vault, and General Resolutions. They cover proposals that involve modifying smart contract parameters associated with any particular grant and the minting and distribution of UNT via grants or activities such as liquidity mining.

Uses and benefits of NIF and UNT tokens

Apart from taking part in governance, NIF holders can stake their tokens in exchange for passive distribution of the new UNT token. UNT makes the clear distinction between the functions of utility and governance across the ecosystem and can be used to pay for network fees and smart contract deployments.