United DAO Set To Be The Upcoming Favorite In DeFi
We’ve come a long way from 2009 when Satoshi Nakamoto launched Bitcoin right after the economic recession, and a handful of forward-looking investors got into it, but the rest of the world was skeptical. Fast forward to today, those investors are probably some of the richest people on the planet and everyone else is just frantically trying to claw their way into the crypto space to make some of these gains. There are so many offerings in the cryptocurrency market now, from revolutionary platforms like Ethereum, Solana and Polkadot to P2E gaming to yield generation protocols like Olympus DAO and TIME-Wonderland. Currently, the DeFi market has a 245 billion market cap, which means there is still a lot of potential for growth in this sector.
Q1 2022 brought new excitement into the crypto market when United DAO, a DAO protocol stemming from Singapore, had its soft launch and announced its V2 launch on 1st April 2022. United DAO is an all-new protocol based on their native token UTD that aims to become a truly decentralized currency, governed on the blockchain and led by industry leading experts. The protocol aims to build a DAO-led decentralized protocol that is accessible to all as a store of value. Taking learnings from its predecessors and current DeFi protocols in the market such as Olympus and TIME-Wonderland, the UTD protocol has built a free-floating currency reserve protocol, backed by yield-generating digital and growth assets. By focusing on growing the supply of the treasury rather than emphasizing on the native token’s price appreciation, the protocol can maintain its value regardless of market volatility. The tokenomics incentivize holders to pledge their UTD via the aUTD offering, and also include mUTD, a deflationary and reward token that will encourage users to burn their UTD to keep prices stable.
United DAO aims to take what the world of DeFi knows and improve it with their core principles of Establishing True Credibility, Strong On-chain Governance and Active Risk Management for their stakeholders. They exhibit this through having a personally identifiable founder and team of advisors who are extremely capable and experienced in the areas of finance, economics and blockchain. A quick look at the website will reveal the entire team’s identities and credentials, that are also easily found on LinkedIn or through a Google search. This reduces the risk of a rug pull or being able to hide behind anonymity and not take responsibility of the treasury, which is one of the biggest setbacks of DeFi 2.0 despite all its benefits. With a wealth of experience, the team will also be able to handle the treasury well which is especially important considering the high treasury goals set for the protocol.
Lastly, they also have an affiliate program – the United Allies Program – that is designed to grow the protocol in a sustainable way and target the TradFi market. This will be done through referral benefits that encourage holders to bring their friends and family in, also effectively creating a flow of passive income for holders where they get to earn up to 2.5% of referrals’ bonding with no cap on how much they can earn.
Put together, the United DAO protocol definitely has what it takes to become the new favorite, taking all the benefits we already know of DeFi and leveling that up by addressing the biggest problems involved in it.[/vc_column_text][/vc_column][/vc_row]