Good monday morning. 😁
This is the Unibar Prototype, we built this in 3 weeks and probably spent 200+ hours on the project. It is frankly ridiculous what was delivered both conceptually and in product.
It is an API-first decentralised finance (DeFi) product on Hedera Hashgraph. It allows you to mint and transfer tokens as well as creating permissioned pools with liquidity provider receipts.
The pool mechanism that has been built cannot be understated. It enables anyone with a token to mint a pool and receive any token in return, you have a single platform to mint a token and eventually fundraise. This is a game changer even when compared to Uniswap where the requirement is to have a "pair" of tokens to contribute to a liquidity pool.
This will enable separate parties in the future to create locked liquidity pools as new markets through a collaboration of tokens without having to previously interact.
Put it this way.
- I have ETH
- You have BTC
- We both create a pool.
- We can create a decentralised financial market by depositing our receipts in to a new market pool.
- From their Unibar will automatically calculate the price of assets through a AMM process, similiar to Uniswap.
After the creation of a pool, a user gains receipts, these can be used to return the initial stake and any deposit swaps have been made from external parties.
In Unibar liquidity receipts control the distribution of value over time
This system allows for logic to distribute value over time with a link to accountable and proven actions – (hint hint) Hedera scheduled transactions 😉
Some extra icing on top, it also has:
- 1-click access to DeFi through Metamask.
- A gasless experience to mint, exchange and create pools with no friction.
- Baked in key management for securely encrypting secrets.
- It is completely serverless, anyone can spin up their node for free.
- All swaps for assets are atomic swaps.
- All rewards are sent to liquidity providers in one transaction.
- Reward pools will be configured to be multi-sig, giving more control for the distribution of value.
No solidity, just a REST API with a frontend. Stop, I said that correctly – this is the level we are at. Any product or business that wants "blockchain" included in offered can plugin to our tools.
An update on Trust Enterprises
Those tools in themselves are highly disruptive. We are so ahead of the curve we have the time to build quality products.
The ability to interact with the decentralised world with no friction for learning new tech, infrastructure requirements, over a simple interface, and the Laravel client does all that in 3 lines of code. 🔥🔥🔥
Literally someone could take our API, run a free node and connect it to a no-code tool like zapier. Let me say that clearly. No-code blockchain logic. 🤯
It doesn't stop there.
Yesterday we launched our new blog, we've had a number of updates to the Unibar prototype over the last week, and the feedback on Twitter has been absolutely incredible.
The Unibar Design Non-Fungible Token (NFT)
If you've made it this far and for those that have been following along we will be offering an NFT of our Unibar designs and sketches. Strictly speaking we've created a new type of NFT called dynamic NFTs (dNFTs) but we will go into that another day!
Think of it as a digital collectible, imagine if you had the first sketches for Bitcoin or Ethereum, how much would it be worth in 10-20 years?
NFTs are a huge business at the moment, look at NBA Top Shot as an insane example.
People have offered to buy them from me, no all of you beautiful people will get them for free – don't want anyone to have a tax liability at this stage. 🤗
There will only be a finite amount of these NFTs tokens minted, my mailing list size at 02/03/21 plus 10 for my own collection.
I have yet to confirm how these tokens will be distributed but it is likely we will use the IV wallet, another hackathon project to distribute them but we may look at minting some on ethereum or binance markets. Talk to me.
Either join my list on this blog or sign up to Unibar Exchange landing page before the deadline.
Until next time.