Unifty launches UNT token to jump-start the creator economy

By: Daniela Kirova
Daniela Kirova
Daniela was born in Bulgaria, grew up in Chicago, and then moved to Michigan to attend the University of… read more.
on Aug 3, 2021
  • New token will be used to deploy services, use DAPPS, pay fees, unlock new features
  • The dual token model places NFT creators and enthusiasts in control of all Unifty decision-making
  • NIF holders can stake their tokens in exchange for passive distribution of the new UNT token

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.

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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:

“Decentralization should always be the answer in crypto. Maybe not right at its start, when the project is still young and its success is heavily reliant on great execution and the founding team’s vision, but it should be the ultimate goal. This is why I’m incredibly excited to launch the Unifty Community Governance project and be able to ‘walk the talk.’ The Unifty community is amazing and we owe our success to them, it’s only natural to give them the control they deserve.”

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.

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