Units Finance x Satoshi Club AMA Recap from 11th of November.

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Units Finance and our guest was @UnitsMu. The AMA took place on 11 November.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Units Finance! Welcome to Satoshi Club😀

@UnitsMu welcome to Satoshi Club 😀

MuMu: Hi All, the UNIT protocol team is honored to be here and answer your questions.

Robocop | Satoshi Club: We are very excited to have you here today, how is going your day?

MuMu: Hey, Great, Busy day as you can guess😊

Mary | Satoshi Club: More work, more profits😉

Robocop | Satoshi Club: well then Let’s start!

Please Introduce yourself and your team. How did you get to be involved in Cryptocurrency & Units Finance?

MuMu: Sure, we have assembled together about 5 months ago imagining and developing this project.

We are an anonymous team, composed of two senior and well experienced blockchain developers, a financial crypto expert and a top crypto strategist, so we believe we have combined well financial expertise and well experienced blockchain developers.

Mary | Satoshi Club: Why did you decide to stay anon? Any reasons?

MuMu: The anonymity purpose was to keep the developers private life, private. We have seen in the past non-anonymous teams defrauding investors (SquidGame…), we believe trust is built over time and hard work and not just by names or titles.

Mary | Satoshi Club: It has sense 🙂

Robocop | Satoshi Club: yes we understand the reason

Mary | Satoshi Club: What about Units Finance goals? Why crypto needs your project?

Robocop | Satoshi Club: can you introduce a little about UNITS Finance before we go to community question

MuMu: The UNITS protcol is about creating new UNITS of exchange.

The first unit we have created is muBTC (Make Bitcoin Accessible!)

The muBTC token, like fractional shares in the traditional stock market is a more accessible unit of Bitcoin, each muBTC will always be equal to: 1/1,000,000 Bitcoin

At its core, muBTC solves two problems:

1. The price of a single BTC is too high in USD terms. muBTC token allows its holders to be exposed to BTC in a more accessible and convenient way.

2. Bitcoin price does not enable a convenient quote for day to day payments, imagine you would like to buy a cup of coffee for $1.99 with BTC at $500,000 you will need to pay 0.00000398 BTC while the same purchase is quoted as 3.98 muBTC.

MuMu: Another exciting unit is the: MAU – Multi-Asset StableCoin

MAU is a unique and revolutionary multi-asset stable coin.

Unlike other stable coins which are pegged to a single FIAT currency, the MAU stable coin combines different types of assets, creating a more stable and broadly diversified stable coin.

The MAU token value is derived from the value of the following assets:

USD : EUR: Gold

This diversion creates a more stable coin, better hedged from inflation due to its diversity and having the gold price index as part of it.

MuMu:

muBTC Image

Robocop | Satoshi Club: we have some question about this later from our community 😉

MuMu:

MAU Stablecoin Image

Sure.

Robocop | Satoshi Club: Thanks for the intro. We still have a lot of questions

to learn more about Units Finance.

Ready to proceed with our first community question?

MuMu: Yes, of course.

Q1 From telegram user @meml97

It caught my attention that I read that UNITs has a “new and revolutionary” way to perform better token presale called “Bonding”, can you tell us more about it? How does this new and revolutionary way exactly work? What kinds of new features or mechanics makes it so revolutionary and different from everything we know so far? Also, how is this Bonding Pre-Sale system more suitable to investors than the token Pre-Sale systems we already know and use? What benefits and advantages can investors get from this Bonding that other ways of token Pre-Sales can’t provide to them?

MuMu: Hi, Bonding itself as not a new concept, Bonds were first introduced by Olympus DAO and gained tremendous success. The UNITS protocol took it even further, by introducing a bond with an auto stake mechanism:

The supplied USDC is converted into UNIT tokens according to the discounted UNIT price and automatically staked in order to boost the rewards. So, by bonding you benefit both from a predefined discount and boosted rewards for auto staking.

Bonds are locked up for a period of 5 days, with an auto stake mechanism which is highly effective in boosting the rewards.

MAU unique and revolutionary multi stable assets coin.

Get staking rewards while keeping your exposure to Bitcoin.

MuMu: What are the benefits of Bonding?‌

Bonding is an active short term investment with high ROI based on predefined discount for the UNIT tokens. The auto staking mechanism is rewarding investors with high APR in addition to the short term bond profit.‌

Mary | Satoshi Club: Is it live?🙂

MuMu: Yes, it is, we have Bonds running for BSC and Polygon networks.

For now you can bond with USDC on Plygon and BUSD on Binance Smart Chain and we are adding now a bond with BNB for the BSC network.

https://app.units.finance/#/bond

Robocop | Satoshi Club: How much UNIT token allocation for Bonding Pre-Sale ?

Mary | Satoshi Club: Cool👏👏👏

MuMu: We have allocated 10M UNIT tokens for the presale.

Mary | Satoshi Club: Awesome! Thank you for your answers! Ready to proceed?🚀

MuMu: Sure.

Q2 from Telegram User @MasterfulAstil

Units states that Bitcoin price dies not enable a convenient quote for day to day payments providing a great example of coffee price converted to muBTC. Does that mean that the price of muBTC is related directly to the price of BTC? How do the fluctuations of BTC impact muBTC?

MuMu: The muBTC will be always worth 1/ 1,000,000 of Bitcoin, so if the price will move in terms of specific pair it will create an arbitrage opportunity for the Arbitrager to buy it in a discounted price and convert it back to WBTC, this mechanism is well known and is used by Maker Dao for their Dao token.

Mary | Satoshi Club: How the process of convertation happens?

MuMu: We forked the Yearn smart contract which is used for the same concept of fractionalized token. Yearn smart contract have created the Woofy token, which is 1 / 1,000,000 of the YFI token.

Woofy token already have around $6M market cap, imagine the possible market cap that can happen to a fractional Bitcoin.

Mary | Satoshi Club: Got it! Nice move! 👍

Robocop | Satoshi Club: can you give reason why UNIT Finance create muBTC? what problem its try to solve?

MuMu: At its core, muBTC solves two problems:

The price of a single BTC is too high in USD terms. muBTC token allows its holders to be exposed to BTC in a more accessible and convenient way.

Bitcoin price does not enable a convenient quote for day to day payments, imagine you would like to buy a cup of coffee for $1.99 with BTC at $500,000 you will need to pay 0.00000398 BTC while the same purchase is quoted as 3.98 muBTC.

Robocop | Satoshi Club: Thank you, thats really clear and detail answer, so do you want to add other comment or we can move to next question?

Mary | Satoshi Club: True, may be one day we will start fractionalize even one satoshi🤣

MuMu: Hi, Yes, I would like to mention another point in this matter of muBTC.

Robocop | Satoshi Club: sure

MuMu: Staking of muBTC on the UNIT farming pool, creates outstanding rewards opportunity while keeping your exposure to Bitcoin, while usually good yields for Bitcoin in the current DeFi market.

Mary | Satoshi Club: Nice opportunity 😉

How can i get muBTC? What is the process?

MuMu: You can convert WBTC for muBTC in the UNIT App interface and you can always convert it back with the same ratio, so your original funds are kept at their original deposit sum.

Mary | Satoshi Club: So easy! Thanks!🙂

Q3 from Telegram User @Jamesxmen

In relevant to $UNIT tokenomics, Pre seed- 0.75%, Seed- 2.25%, community reserve- 72% were decided by Unit Protocol to raise the initial fund & Recently You have conducted the pre sale of unit protocol. Did you provide the $UNIT token allocation for the pre sale from seed or Pre seed or Community reserve? How was the presale, What amount did you obtain from presale? Please tell me about the Pre seed, Seed & community reserve? So how will the community buy $UNIT tokens from Community reserve allocation?

Mary | Satoshi Club: A lot of questions in one🙂

MuMu: Sure, we will answer it one by one:

1. The presale allocation is part of the 4% liquidity allocation, the auto staked rewards are from the community reserve.

2. Presale so far have raised 35% from our minimum goal in 3 days for the first bond.

Mary | Satoshi Club: How long will it last in total?

Robocop | Satoshi Club: btw, can you share the detail of Tokenomics from $UNIT ?

MuMu: 3. The community reserve, will be fully distributed to the community as rewards for staking, farming and bonding.

Hope it answer this question in full.

Yes, the full Tokenomics details can be found here:

https://unitsprotocol.gitbook.io/unitsprotocol/tokenomics

Robocop | Satoshi Club: Thank you

Q4 from Telegram User @yellowchamp

I found out that the UNITS Finance protocol is DAO-governed in which all decisions are formed by community members on the forum and made by token holders through snapshot voting. So,could you enlighten us more about the snapshot voting? What is the process of snapshot voting and where it is being held? Since all the decisions are formed by community members and token holders,what will be the responsibility or duty of your team in the decision making and in snapshot voting. For community and token holders who will be part of the decision-making and snapshot voting,do you intend to incentivized them for their participation? Thank you

MuMu: As a fully decentralized protocol, the UNIT protocol token holders should be involved and be part of the protocol decisions, so each token holder will be able to participate and help shaping the protocol future.

Robocop | Satoshi Club: so there is no minimum token hold to participate into UNIT DAO right ? thank you for the answer

MuMu: That will be our first proposal to decide with the help of the community.

Mary | Satoshi Club: When do you plan to start with governance?

MuMu: Governance proposal will be enabled Several days after the token listing which will be after November 22, 2021.

Q5 From telegram user @Orlemys

Your stable coin MAU is pegged by three different assets, US Dollar, Euro, and Gold in equal parts. What is the advantage of this multi-asset backing over other stable coins like USDT, USDC, BUSD, and DAI? I’ve heard rumors saying that stable coins like USDT are meant to drop in price over time since there is no real backing of the coin. Does MAU solve this? Are you completely transparent about this? Can investors be sure that MAU will remain stable over a long period of time, even with inflation and its effects on dollars, euros, and gold?

MuMu: As you are aware of stable coin is a huge market, but we have identified these coins has two problems, the first one is lack of diversity, almost all of them are pegged to a single asset which is the US Dollar.

and the second core problem in this market is lack of inflation hedging and by creating a multi assets stable coin which is both diversified and includes an asset as gold which is known to be an inflation “hedger”, we believe we can disrupt this huge market with this new UNIT of exchange.

Also, the MAU is fully decentralized and backed by tokenized USD / EUR / Gold locked in smart contract.

Robocop | Satoshi Club: thats really great info for solve stablecoin problem😀

Mary | Satoshi Club: It will be always backed by this currencies? 🙂 Or it can be changed somehow?

MuMu: Yes, always backed by this currencies.

The UNIT protocol in general was created in order to offer UNITS of exchange, so as additional opportunities for new tokens with different structure are met, we will with the community confirmation, consider creating new tokens, but the MAU token should stay stable as the current declaration.

Robocop | Satoshi Club: where we can get MAU token ? any link that you can share?

Mary | Satoshi Club: Gotcha! 👏

MuMu: We have fully developed so far the UNIT token, the MAU token is still under development and was not released yet, you can view our full and detailed roadmap here:

https://unitsprotocol.gitbook.io/unitsprotocol/roadmap

Q6 From telegram user @Asela1112

According to Your Roadmap, Units Protocol hope to launch Buyback smart contract on Testnet in second quarter of 2022. Can you give a sneak peek about this upcoming deflationary function on $UNIT tokens & your testnet? Will this Buyback smart contract be only for Units Protocol’s testnet or Will it be implemented on the Mainnet also? What will be the Buyback percentage that you hope to incur through the transaction fees? How will the Buyback smart contract be controlled the inflation rate & sudden price dumping of $UNIT tokens?

MuMu: Yes, the UNIT Protocol revenues model is The UNITS protocol is built over investing the WBTC collaterals in major DeFi protocols which offer the best yields for WBTC.

The smart contract based algorithm will optimize and manage the investments.

80% of these revenues are used for buy back of the UNITS protocol governance token in order to distribute the profits to the UNIT token holders.

Mary | Satoshi Club: Now you can share links to your channels 🙂

So, our community won’t miss them!

MuMu: Thanks You, it was pleasure so far and we will be happy to answer more questions.

Docs: https://unitsprotocol.gitbook.io/unitsprotocol

Tech: https://github.com/Units-DAO/units-dao-contracts

Telegram Announcements Channel: https://t.me/joinchat/xPtcEH3TCFdhZDk0

Twitter: https://twitter.com/units_protocol

Telegram Group: https://t.me/unitsprotocol

Medium: https://medium.com/@UNITSDAO

Website: https://app.units.finance/

Robocop | Satoshi Club: Dont Forget to join Satoshi Clubber 👏🥳

Part 2 — live questions from the Telegram community

Q1. from telegram username @Asela1112

Initially Units Finance Protocal has been developed on Polygon & BSC networks. Will you stay remain with Polygon & BSC networks forever?

MuMu: Hi, Additional networks will be added in the coming year, please view our fully detailed roadmap, please check Q4 2022 about other planned networks:

https://unitsprotocol.gitbook.io/unitsprotocol/bond

Q2. from telegram username@Xusuo

So can you mention in here about what are utility for $UNIT token and $MAU token? Why we should have both token?

MuMu: The UNIT protocol governance token utility functions are:

Governance token

Community rewards.

Buy back.

Staking

Q3. from telegram username@cenkkargin0666

Is there a feature of the UNITS protocol that it realizes first in the DeFi market, what does UNITS bring to DeFi? What is the most unique aspect of UNITS?

MuMu: We believe the unique bonding mechanism create a new and exciting opportunity for the defi market, the UNIT protocol Bonding Mechanism works supplied USDC which is converted into UNIT tokens according to the discounted UNIT price and automatically staked in order to boost the rewards. So, by bonding you benefit both from a predefined discount and boosted rewards for auto staking.

Bonds are locked up for a period of 5 days, with an auto stake mechanism which is highly effective in boosting the rewards.

MAU unique and revolutionary multi stable assets coin.

Get staking rewards while keeping your exposure to Bitcoin.

Q4. from telegram username @jazzmuxic2000

Can you tell us about the benefits of staking the muBTC token? Do you have different stake plans? How long is the lock-in time? How much would be the reward for stake muBTC?

MuMu: Yes, you can get outstanding rewards while keeping your exposure to Bitcoin. The muBTC staking pool is where you can stake your muBTC tokens and earn rewards in UNIT tokens.

Staking UNITS DAO Tokens is a passive, long-term strategy. Keeping UNIT tokens staked is the most effective way to maintain the token value, which is in the community’s best interest. Consequently, the UNIT staking pool includes high rewards for community members that acknowledge the importance of keeping their tokens staked.

Q5. from telegram username@coinerman

Since strong partners enable projects to gain trust and develop faster, can you tell us about the partners your team has/will include in your ecosystem and your future partnership strategy?

MuMu: We are working with several leading wallets, exchanges and Defi protocols in order to implement the UNITS protocol medium of exchange.

A first big announcement will be shared with the community soon.

Q6. from telegram username @barisbektas1

Does UNIT protocol have its own wallet, or which wallets will you support? Is there a work around UNIT protocol to provide an exchange environment?

MuMu: Currently, we support Metamask and Wallet Connect, Next and soon to be is “Binance Wallet” and many more will be added in the coming weeks, we are also working on a better mobile experience.

Q7. from telegram username @kimzyemma

For instance if UNITs token is bond, how many days will it take to be redeemable? What is the calculation behind the ROI?

Thank you

MuMu: The ROI is the gap between the UNIT token discounted price at the date of purchase and its listed price.

In addition to the ROI, staking gains APR rewards, the APR is calculated this way:

Staking Pool TVL= The staking pool amount of staked tokens (muBTC OR UNIT) multiplied in the USD token price.

APR = (Rewards per second / TVL) * (86,400 sec per day * 365 days)

Q8. from telegram username @roche01

what is the way that generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?

MuMu: The UNITS protocol is investing the WBTC collaterals in major FeFi protocols which offer the best yields for WBTC.

The smart contract based algorithm will optimize and manage the investments.

80% of these revenues are used for buy back of the UNITS protocol governance token in order to distribute the profits to the UNIT token holders.

Q9. from telegram username @mobilejii

✅✅ will there be any possibility of your team to be public in future? How can we trust on your project is safe from investment purpose?

MuMu: The anonymity purpose is to keep the developers private life, private. We have seen in the past non-anonymous teams defrauding investors (SquidGame…), we believe trust is built over time and hard work and not just by names or titles.

Q10. from telegram username@itsMelissa3

A few days ago the UNITS team shared with us the launch of the first DeFi Friend-Referral program. The steps to participate are quite easy, we just have to refer a friend, and the UNITS bond smart contract will automatically credit our wallet address with 10% commission. Will this program be running for a limited time? Until when will we have the opportunity to earn through the referral program? You mentioned that each deposit made by our referral link will credit our wallet in 10% of the deposit’s value. Does each link have a maximum number of referrals allowed? Does our referral link have an expiration date?

MuMu: Hi, no, our “Refer a Friend” mechanism has no expiry date, you can join here:

https://app.units.finance/#/referral