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WHITEPAPER

UNIT

We at UNIT develop global communities and marketplaces while creating a shared and token driven economy. With hubs in cities globally, we connect entrepreneurs, experts, investors, innovators, among many more, across different industries. Our community is composed of creators who push boundaries, service providers, leaders that initiate and drive change, including some of whom have built billion-dollar companies that transformed our daily lives and the world. UNIT is a global ecosystem which brings together individuals to collaborate, support one another, and create solutions to pressing problems in the world. With our marketplaces, we will simplify the process of finding work, providing services, and selling/buying products. If you're a provider of products or services in one of the UNIT marketplaces, we make it easy for you to wake up in the morning and find customers. All in exchange for a small service fee. This fee is further shared and distributed with the ecosystem to promote continuous growth. UNIT deploys and supports tokenized ecosystems on the Polkadot blockchain for various industries. Each industry has stakeholders, including service providers, consumers, and investors, contributing fairly in activity and stake, and being rewarded equally. With our tokens and the tokenization of transactions, we are also creating a new cooperative economy, where the founders, and the investors have aligned incentives with the customers and the employees. We believe that the combination of our strong and growing global community with our innovative approach will be a substantial factor to solving inequity in the world.

 

Vision & Mission

Our mission is to move the hub-based gig economy with its megalith gainers to a more decentralized and fairly rewarded mix of participants. Each stakeholder is a shareholder; hence this project provides an answer to the quest for a shift from shareholder capitalism to stakeholder capitalism (e.g., the World Economic Forum DAVOS Manifesto 2020 quest). Stakes and transaction payments may be without intermediary and with full provenance. They may range from the price of a haircut to the capital backing of a multi-talented team of art or property investors. Activities and transactions will be efficient, lower in friction and cost, and reach locally and globally. Activities and transactions will be efficient, lower in friction and cost, and reach locally and globally. More than one-third of the world's population is unbanked and is severely limited in access to capital investment and infrastructure to conduct business independently. The few hold most of the world's wealth, and UNIT provides direct opportunities for the haves to share with the have-nots and all to be contented  in a more sustainable and prosperous world economy. Currently, hub-based megaliths enjoy economic surplus, disregarding the many early and ongoing contributors to the establishment of overly monopolistic positions of power and inequitable wealth. Lower platform fees and faster and reliable clearing will enable providers to enjoy fairer rewards in a trustless blockchain-based mechanism. New technologies (e.g., 5G, artificial intelligence) and financial instruments geared up for the new economic mode  operandi will lead to a mass adoption of digital assets and acceptance and ubiquity across all countries and industries.

 

UNIT Economics & Value Proposition

The economics behind UNIT are fundamentally very simple and very similar to other platforms and organizations which provide value to society. Whether it's Uber, which is connecting drivers and customers or Airbnb connecting hosts with guests. We believe that by connecting providers and customers in different industries, we're able to create value for the customer, for the provider who has a product or service to sell and by taking a small service fee, we're able to grow and scale this ecosystem. But we're doing one thing differently. Instead of all this value being created, simply being shared by the founders, and the contributors who have put in their time and energy in growing the service. We believe in supporting all the different users whether it's providers, customers, and people who have grown this ecosystem. Have an economy and contrary to most tokens, we believe that by creating this economic value, we'll be able to back these tokens with real inherent value that is created.

UNIT is valued in three different ways.

  1. Transactions generate value from service fees for both the providers and customers and share some of that value with the platform.
  2. Staking occurs when people stake UNIT tokens. They can benefit from the exchanges between UNIT and other different tokens within the ecosystem and the token driven economy.
  3. Liquidity pools provide a way for people to exchange UNIT with other tokens, whether for an organization, a business, or a movement.

UNIT generates revenue through transaction fees linked to the transactions that are created through and within the portfolio platforms (marketplaces). The marketplaces are invite-only platforms.

The revenue generated through transaction fees is divided in 4 equal parts to reward different 4 stakeholder groups within the platform:

  1. Direct: The one, who brought the customer onto the platform
  2. Direct: The one, who brought the provider onto the platform
  3. Indirect: The UNIT community (that is, everyone who owns a UNIT token)
  4. Indirect: The marketplace community (that is, everyone who owns a token of the respective platform, where the transaction took place)

In sum, every of the 4 above listed stakeholder groups benefits from 25% of the revenues generated through Unit and the associated portfolio marketplaces.

Direct: the respective amount of token is credited directly to the user wallet.

Indirect: the fee is used to fund maintenance and operation of the platforms (e.g., technology, marketing).

 

Transaction fee percentage %

Value (in USD)

20% - up to 1,000 USD

10% - 1,000 to 5,000 USD

5% - above 5,000 USD

 

Solutions provided by UNIT

UNIT is powering the next economy by connecting providers and customers, digitizing assets, and building a global community.

  • Communities - bringing people together Marketplaces - connect for business
  • Tokens - cooperative economy Platform to initiate and support business
  • Glocalizing Search for Prospective Business
  • Investment can be deep, distributed and liquid Hub Taking all Wealth - platform costs, trust, and privacy
  • Independence, Mobility, Efficiency and Empowerment of producers of value in the gig economy
  • Appreciation of token shared across all stakeholders
  • Redistribution of wealth and power in networks
  • Denationalization and Global Market Efficiency
  • Modern day bartering
  • Freelancing and adaptability to new trends in economy – reputation can be maintained and broad reaching
  • Not just technology - Hybrid of technology and operations
  • Reduce cost of operation - marketing, transacting, selecting
  • Risk of unfulfilled or delayed payments
  • Trust mechanism through community - no scam projects, fraudulent payments

 

Target market and opportunities

We've identified cities around the world, which have a very high population density, as well as a sizable population so that we can build these communities and marketplaces and thrive. We're also focused on industries where there is a significant number of providers and employees providing valuable products and services. Each of these industries ranges from several hundred millions of dollars to tens of billions of dollars. All of this value has created products and services provided to customers. However, the majority of the value is merely going to a small number of people. We believe that in the future, we can create a cooperative economy. An economy where these billions of dollars, whether it's in the fashion industry, or the current automotive fuel industry, or the real estate industry, don't just go to the landlords or fashion conglomerates but instead go to the employees, the customers were essential in, in being part of these organizations success. It does not mean taking value away from large organizations, innovative leaders, or entrepreneurs who drive these organizations, but rather, we want to create a bigger pie and have users, customers, and employees also receive some of that value created.

 

COMMUNITY

UNIT Community and Network

Our UNIT communities are the core of meaningful connection for people from all walks of life and different industries world-wide. Whether you are an entrepreneur, artist, investor, student, service provider, we are creating an economy in which the community supports each other. A community enabling meaningful relationships and connections where an up and coming entrepreneur can get mentored by an investor who has built billion-dollar companies. In over 30 cities across the world we have hosted live and online events, with tens of thousands of people. We are excited for these UNIT communities to grow and thrive in 200 cities globally.

 

UNIT Cities

We are currently active in about 30 cities across Asia, Africa, Middle East, Europe, and the Americas. Our goal is to have a presence and support local economies in 60-70 cities in Asia, 30 cities in the Middle East and Africa, and 50 cities each in Europe and the Americas. The reason for us, focusing on several global economies and targeting multiple cities at once is that all people share, fundamentally, similar wants and needs; safety and stability, purpose in life, and connection. With UNIT we aim to create impactful connections throughout communities or marketplaces and create a cooperative economy using tokens. We're excited to create a world where whichever city you go into, you can plug into the local ecosystem and community and find a way to collaborate, support one another, as well as sell products or services that you're passionate about.

 

UNIT Conferences

UNIT Conferences, or Unconference, whether live or online, are open format sessions where members can be the host or the participant; No set agenda or preset schedule. Our active and growing community of over 15,000 active members simply come together to showcase, discuss, and exchange ideas, products, findings, perspectives and opinions. Members simply sign up to host or join on topics of interest, whether it's about consciousness, the future economy, health care, or their passion about what they're doing and why they believe it's going to do good and change the world. During an Unconference, six to ten sessions are going on at once with up to one hundred available time slots. We have held live events in twenty-six cities hosted over one thousand sessions with our Unconference globally.

 

UNIT Global

The collective of all local UNIT communities, such as UNIT London, UNIT Hong Kong, UNIT New York, etc. form UNIT Global. UNIT Global is one additional channel where all our members from across the different communities are coming together, either physically or virtually. So far, we've held a Global UNIT Unconference with over 900 individual sessions and will expand them as our community grows.

 

Clubhouses

With Parq, our village in Bali, we are essentially creating a space to bring together some of our brightest micro-entrepreneurs within the UNIT ecosystem and create a micro-economy where we believe the future global economy will resemble. Members of the ecosystem within the village are all stakeholders with aligned interests. We're building 300 villas and apartments. We have outstanding facilities from a 90-meter pool to a co-working space with a capacity for 350 people, five restaurants, music studios, a spa, meditation room, and much more. Parq, as a micro-economy, will serve as an additional physical manifestation of our cooperative environment to showcase how the future token driven economy can be applied globally.

 

MARKETPLACES

UNIT Marketplaces

Our UNIT marketplaces create jobs and help people find work by connecting providers and sellers with customers and buyers. With our community-based marketplaces, we make it easy for service providers and product sellers to generate leads and new customers, whilst providing the community access to first-class services and products. Through location-based search we offer a range of providers who support purchases to finalize transactions. In exchange, we take a small service fee which is shared amongst the community, and the value created by this community is also distributed amongst the different stakeholders.

 

UNIT Micro-Entrepreneurs

We believe that the economy is powered and driven by entrepreneurs with ideas and the ability to take the risk in pursuing their vision. We empower all providers of products and services within the UNIT ecosystem to become entrepreneurs. With current business models, the risk, responsibility, and stress lie primarily with the founder/s. Often questions like, “What if I'm not able to bring enough business?”, “Am I able to keep going?”, ”Can I pull this off?", "How can I make sure to pay my employees?", "How am I going to scale my business?" arise. Such worries make it difficult to scale one's business. One of the unique advantages of the UNIT platform and our various UNIT Marketplaces is that we developed an environment where all participants benefit from each transaction. The providers/sellers benefit because they can keep the majority of their earning (80-95% of each transaction.) Customers can interact and work with the provider of services and sellers of products directly without intermediaries or as middlemen in terms of how the service platforms usually work in the ecosystem. We allow the entrepreneurs to build organizations with hundreds or even thousands of different providers and not worry about scaling or raising funds to build the agency business. The different community members also benefit from success. To grow a high-quality network of sellers/providers, we also incentivize member referrals. By referring providers of products and services onto the platform, members get a percentage of the service fees on any successful transaction providers/sellers to make. This approach allows virtually everyone to get the lifetime value of the people they bring to the service.

 

UNIT Seller/Provider

Become a UNIT Seller/Provider on UNIT marketplaces via a simple three-step process:

  1. Get invited by an active UNIT member
  2. Fill out a short interview questionnaire
  3. Create your profile

Once approved by the committee, you will be receiving messages and inquiries from potential customers and clients. This streamlined application and review process is important to ensure an inclusive and high-quality network.

 

UNIT Member/Customer

Become a UNIT Member on UNIT marketplaces via a simple three-step process:

  1. Get invited by an active UNIT member
  2. Add credit to your UNIT wallet
  3. Send inquiries to one of the UNIT Providers/Sellers about the products or services of interest

Example: If you are interested in getting a lesson in Spanish, or yoga class, or even buying a car or property, we make it easy for you to connect and speak with qualified sellers/providers to finalize your transaction.

 

TOKENOMICS

Cooperative Economy

The predicament with the current economic system is its unequal bipolarity; investors and the founders on one side and customers or employees, of which most survive and live paycheck to paycheck, on the other. The value of billion-dollar companies like Uber or Airbnb, is created by their providers and customers. However, only a fragment of that value goes back to drivers, passengers, or renters. We at UNIT see and understand the essential value customers and employees contribute to organizations, businesses, and movements and are excited to create a cooperative economy that benefits all sides. We systematically will balance this inequality with our token-driven and collaborative community and distribute the value creation amongst the value creators.

 

Issuing Tokens. How & Why?

In a three-step process, one can issue a token either for oneself, projects, events, companies, and alike.

Step 1 – Issuance

Choose the name, the symbol, and set the number of the total token supply.

Step 2 – Distribution

Distribute your token to your community, fans, friends, or clients by sending, selling, or exchanging them for advice, products, services, etc.

Step 3 – Trade/Token Exchange

Once tokens are issued and distributed, the token holder can exchange them for offered products and services.

Example:

A musician chooses to name the tokens MUSIC and set the total supply to 10,000 tokens. This up and coming musician can sell the MUSIC tokens to raise funds, exchange them for recording hours in a studio, and later in the career used by fans to attend concerts, or even offer them in exchange for mentoring. As the musician develops over time, the tokens increase in value, and everyone that supported the musician in the early stages will benefit from the increasing value of the MUSIC.

This approach will solve the difficulty of raising funds via crowdfunding. Unlike traditional crowdfunding campaigns, we include everyone in the success of a project, a person, or a company. For example, Oculus, which Facebook acquired for billions of dollars, early investors who believed in Oculus's future success received a product in exchange for their investments and did not benefit from the actual acquisition because they did not hold any Oculus stakes.

 

UNIT Token

UNIT tokens are the fuel and engine that's driving the UNIT ecosystem and economy. Every transaction that happens within the UNIT network and blockchain interacts with the UNIT tokens through service fees. A percentage of the service fees get converted to UNIT tokens, which are then burned and removed from the ecosystem. The UNIT tokens also allow for different tokens to talk to one another and be exchanged. Over time, as the UNIT communities, ecosystems, and network grow, we can reward various members of our network's ecosystem with more tokens. UNIT Tokens are currently listed on some exchanges, and we've also built our own internal token exchange. The UNIT ecosystem and roadmap's goal is to offer a seamless exchange and use of UNIT tokens to reach the point where the interaction and transaction of tokens become second nature and don't feel like using technology. We're continually working on providing more liquidity, usage, and distribution of the UNIT tokens. We want to ensure that our providers, customers, communities, and the team feel comfortable, motivated, and grow with our UNIT community, the UNIT token, and the UNIT ecosystem.

 

Industry Token

The industry tokens are capturing value within the marketplaces or industries. The transactions involving industry tokens take 25 percent of the service fees, and the UNIT tokens and platform takes 25 percent of all the different platforms and service fees. The UNIT token is like an index of all the other tokens, while the industry tokens capture the value created within those marketplaces and platforms. Providers and customers within an industry would recognize that the exchange and token are very much like going to different countries and using foreign currencies or going to hotels and using various loyalty programs.

 

Organization Tokens

An organization can issue tokens for their communities, ecosystems, conferences, or organizations to UNIT them towards a common goal. By assigning a set of rules to the tokens on its usage, exchange, particular behavior, and actions is encouraged. As the token holders perform these actions, they are rewarded, and incentives are aligned between all of the ecosystems' members.

 

Business Token

A business can use a token similar to how a gift card or loyalty point programs are issued. It is merely a way to get more customer retention or engagement. Customers feel that they're not going to switch to another better product; they're essential stakeholders in their business. And in using these tokens, they can exchange it for actual products. If they're an early supporter, they can benefit more than the latest supporters who receive maybe a lesser stake than ones who supported and aided in the ecosystem growth early on.

 

Fisher’s Equation of Economic Monetarism

M x V = Sum of Pi x Qi

M - Total Value of UNIT Token

V - Annual Trading Frequency of UNIT Token

Pi - Price of Service (i) or Product (i) on Platform

Qi - Transaction volume of Service (i) or Product (i) on Platform

i - individual service or product transacted through the network

Total Economic Value of UNIT platform = Sum of Pi x Qi

M = (Sum of Pi x Qi) / V

If the growth rate of the platform trading frequency does not exceed the growth rate of the platform economy, the price of UNIT will increase. Staking methods will be introduced for early stakeholders to reduce V and remove volatility in UNIT token price. In order to encourage the participants of the UNIT ecosystem to cooperate and toreward the nodes for maintaining the network’s integrity, UNIT Chain uses incentive mechanisms. Central to this economic model is UNIT Fuel (UFUEL), which is a UNIT that compensates for the computational resources used to execute operations on the UNIT Chain.

 

FINANCIAL MODEL

Financials

With low capital expenditure, we don't require to invest significantly and allocate funds for our growth. We benefit from developing transactions between providers and customers and raise $25 million to allocate towards our different city growth and various marketplace platforms. The funds crowdfunded through the sale of UNIT tokens will create millions in dollars of transactions for providers and customers and support the creation of tokens within these different industries. If a member wants to start a business, UNIT will support these various projects. By further analyzing financial data, we can ensure that these resources are allocated efficiently and ensure growing and thriving organizations within UNIT.

 

Circulating Supply

With tokens, there are three concepts:

  1. Total supply
  2. Circulating supply
  3. Distribution

Total supply determines the maximum number of tokens that can be issued. In the case of UNIT, we have issued a total of 100 million total UNITs which will be sold in five rounds:

  • $0.10 for 10mil UNIT total of 1mil USD at 1mil market cap
  • $0.20 for 10mil UNIT total of 2mil USD at 4mil market cap
  • $0.40 for 10mil UNIT total of 4mil USD at 12mil market cap
  • $0.80 for 10mil UNIT total of 8mil USD at 32mil market cap
  • $1.00 for 10mil UNIT total of 10mil USD at 50mil market cap

 

Alongside that, we have 50 million left of the total UNIT supply. 20 million UNITs go to our core team and extended team, where each of our co-founders and partners receives 100,000 UNITS with a three-year cliff and a five-year vesting period. After the first three years (vesting period), 60,000 UNITS can be sold, distributed, or exchanged. After five years, 100,000 UNITS will be fully available.

The remaining 30 million UNITs are in the Treasury, which is what we hope to use as the foundation and for our pools to ensure that UNIT can maintain a level of stability and not be susceptible to volatility and the fluctuations that most tokens face currently.

 

UNIT token peg

‘Peg’ means to tie the value of one token to another. Pegged tokens are generally useful for payments, treasury management, exchanges, and wealth preservation. A Pegged Token network defines a set of pegged tokens, which reflect real market assets such as currencies, precious metals, other cryptocurrency assets, commodities, etc. For example, a token pegged to USD can be used to make USD purchases, and both the buyer and seller can be assured that the payment with the pegged value will be very close to equal to the dollar equivalent. For companies holding cryptocurrency assets, the ability to convert parts of those assets into a dollar peg can help to preserve capital when the cryptocurrency market is low. Exchanges that deal only with cryptocurrencies can use values pegged to real-world currencies to create pegs to USD or EUR without having to deal with the traditional banking system to hold those assets. Tokens pegged to other assets like precious metals allow users to hold Gold or Silver values on a cryptocurrency exchange. Pegging to cryptocurrencies can facilitate transactions representing Bitcoin or other cryptocurrency values without the transaction limitations that might exist on those blockchains. Pegging values to other commodities or assets are possible, expanding the use cases for a Pegged Token Network.

 

 

UNIT Token Listed

UNIT Tokens are currently listed on some exchanges, and we've also built our own internal token exchange. The UNIT ecosystem and roadmap's goal is to offer a seamless exchange and use of UNIT tokens to reach the point where the interaction and transaction of tokens become second nature and don't feel like using technology. We're continually working on providing more liquidity, usage, and distribution of the UNIT tokens. We want to ensure that our providers, customers, communities, and the team feel comfortable, motivated, and grow with our UNIT community, the UNIT token, and the UNIT ecosystem.

 

Liquidity

Cash is the most liquid form of financial payment forms, as it can be exchanged for any service and products almost instantly. However, if you want to convert the ownership (full or parts) of an apartment, there is limited liquidity and longer processing time. This is not a limitation to tokens. By issuing a token for the sale or an apartment, a car, or even yourself as an individual, you can access this value in liquidity right away and use it towards something else.

 

Staking

Staking is where you stack your tokens and leave them in a pool. You get rewards similar to interest in compounding your tokens. Stakeholders get these rewards from the exchange fees generated when people convert one token to another token.

 

Token Pools

Traditionally, token exchanges are traded by pairing separate buy with sell orders, which can lead to highly fluctuating prices. Through token pegging we try to eliminate such drastic fluctuations in price.

 

Token Burning

Token burning is very similar to stock buybacks. It reduces the number of stocks or additions. By reducing the number, the demand for such a token increases while reducing the supply, which ultimately increases the value. In many token-driven projects, there is a system by which tokens are being burned.

 

Use of Funds

We ensure that all funds are allocated to ensuring the growth of our ecosystem.  Over time, we want to make sure that we grow organically, sustainably, and holistically where all value creators are rewarded accordingly (marketing and growth performance-based rewards.)

 

Exit strategy

Our exit strategy with UNIT, our platforms, and marketplaces are very different. We do not hope to get acquired by a conglomerate or become a publicly-traded company. UNIT and our various marketplaces are built, operated, and run such that there is no need to get acquired or to be publicly listed. We are providing a utility for different providers of products and services and customers and token holders to be able to continually grow and support in the platform development and be rewarded in doing so. We aim to have organizations, startups, and companies focused on sustainability and work from one funding series to the next to continue operations.

 

BLOCKCHAIN

UNIT Blockchain

UNIT has its own UNIT Chain built on a protocol and technology called Polkadot, with Substrate as a blockchain building framework. Polkadot allows different blockchains to be interoperable, which means they're able to talk to one another. The inventor of Polkadot is one of the co-founders and creators of Ethereum. We believe that by building on this network and protocol, we can be leaders in driving forward this token-driven future.

Click here  to get more information on Polkadot.

 

UNIT Blockchain - Features

The UNIT blockchain is built specific to our needs and is upgradable to evolve with future developments in blockchain and Polkadot technology. We have features to support providers and customers in transacting with one another and allow these service fees to be distributed across the different ecosystem members. We also enable people to issue tokens on the UNIT blockchain quickly in which people can realize their project and start-up ideas by issuing a new token. We also have other unique features on the UNIT blockchain, like staking liquidity pools.

 

Blockchain for Mass Adoption

Compared to other blockchains, UNIT Chain represents a shift in network design and development philosophy. Below is a breakdown of the key features of the UNIT network and their respective benefits for developers and end users.

  • Transparency: By entering a public address in the UNIT Block Explorer, users can see holdings, transactions, and network data related to that account. On-chain activity is open for all to see.
  • Block Creation Time is 2s
  • Interoperability: Projects built on UNIT Chain can be compiled using a separate client to communicate with other chains.
  • Client Requirements: Light nodes, rather than full nodes, do not need to run 24/7 or read and write a lot of information on the blockchain. Users can work locally via mobile devices.
  • Upgradable Chain: Separation of runtime components, allowing easy runtime upgrades; UNIT Chain can easily be upgraded without requiring a hard fork.
  • Flexible Consensus: On UNIT Chain, thanks to the Aura consensus algorithm, finality is reached with each new block created.
  • Efficient Deterministic
  • Sandbox WebAssembly
  • Runtime: Virtual machine interpreters with available toolkits; using WebAssembly, dApps can be built using different smart contract languages.
  • Seamless Client
  • Upgrades: Updates that affect consensus are compiled using WebAssembly, and developers can store as many versions of consensus code as they want to compile with native code. UNIT Chain handles this complexity to ensure that the native code being executed is consistent with the currently deployed WebAssembly code.

 

UNIT Roadmap

Our roadmap has several different parts. We are focused on continually building our communities. We are hiring and working with leaders in various cities and industries who understand and have connections within the local markets to grow, thrive, and maneuver around cultural differences and barriers, and set new trends in industries that traditionally have strong gatekeepers. We're also improving our technology, artificial intelligence layer, messaging interface, and blockchain layer. All are crucial to increase the UX, UI, and, most importantly, how our community interacts, works, transacts, and grows. The UNIT chain is powered by a Polkadot protocol, one of the most exciting breakthroughs to happen in the blockchain industry. By building on top of a strong foundational technology and combining it with societal progress, and education on a cooperative economy, UNIT will be a pioneer in this movement.

 

May 2020 - Global Unconference to Launch Project and Application

September 2020 - Launch UNIT Chain on Polkadot - core data level of blockchain for UNIT tokens

November 2020 - Launch of UNIT Master’s Program, launch of UNIT and parachains for each app tokens

February 202 - Launch of UNIT HQ Bali, Parq

August 2021 - Launch Parachains for Tokens for 200 UNIT Cities

 

Polkadot Substrate

Substrate blockchain has this unique protocol that lets different blockchains talk to one another. It is built on a substrate that allows many projects to create their own blockchain seamlessly using building blocks like Lego. Currently, almost every blockchain is exceptionally fragmented and separated, and there is a need for centralized exchanges to switch between tokens or talk to one another.

UNIT takes very much the opposite view to chain maximalism. We believe the idea that one blockchain should prevail, to the detriment of all others, is a hindrance to innovation in the space and negatively impacts the broader adoption of distributed ledger technologies. On the other hand, we acknowledge that the coexistence of different blockchains requires developing mechanisms for those networks to interoperate. Over the past three years, inter-chain protocols that facilitate sharing of information and the execution of smart contracts across blockchains have emerged. The blockchain industry is also in dire need of middleware, tools, and frameworks that developers can plug into easily to build blockchains and decentralized applications more efficiently. One notable initiative that addresses both issues is Parity’s Substrate.

Substrate is a software development framework to build blockchain technologies. It can be used to create standalone blockchains or to build (native) parachains. Since its release in 2018, Substrate has quickly become one of the most popular blockchain templates. It also became an obvious choice for our team when we decided to build the UNIT Chain in 2019. It has now been launched on the public blockchain according to schedule and already has $4b market cap already.

Existing blockchains are too slow, too rigid, and too foreign to traditional digital infrastructure to be used by most organizations. Our core belief at UNIT is that distributed software solutions must meet businesses requirements in order to be successful. UNIT Chain’s characteristics reflect this philosophy, especially with regard to scalability, interoperability, and upgradability.

 

Bitcoin

Peer to peer payments and transfers without a need for a trusted party is revolutionary because traditionally, the entire economic system depends on banks or financial institutions. Bitcoin allows people to transact peer to peer without these institutions' needs. Unfortunately, though, there are not enough products or services offered or traded using Bitcoin, and we believe that UNIT can help drive actual usage and adoption of digital currency in the mainstream.

 

Ethereum & ERC 20

Ethereum was an incredible invention because it supported smart contracts. Smart contracts allowed people to build dApps - decentralized apps. One of the inventions created on top of Ethereum were tokens. ERC 20 tokens allowed anyone with an idea for a project to issue a token and enabled a community to support a crowdfunding campaign through the tokens.  It showed the future where projects can be structured more cooperatively, where everyone benefits.

 

Bubbles

Bubbles in the economy happen when assets or investments get driven by speculators who start driving up these assets' prices until it reaches a point where it becomes unsustainable. People start selling these assets, and unfortunately, because there's no underlying value, the price starts dropping. We have seen this happen with the internet in the year 2000. We've seen this happen with cryptocurrencies and ICOs in 2017 and with the property market in 2008. What needs to change to prevent these bubbles with tokens is to create real underlying value, and we believe with UNIT we can do this.

 

ICOs - Initial Coin Offerings

ICO's provided a really incredible and disruptive way to crowdfund or finance a project, whether it's developing a movement,  a protocol, or a piece of software. Tens of billions of dollars have been allocated towards different projects in ICO's between 2015 and 2018. In 2017, it went to a peak where there was a bubble that ended up bursting. The reason for the bubble was because these projects, with too few users, were getting unbelievable valuations. People were buying these tokens solely to speculate and where other people would buy from them for a higher amount and generate a return. The tokens were not backed by any economic activity, products, or services created through these tokens. ICOs are fundamental because they've shown how fundraising can happen so fluidly and how many different community members and ecosystems can be incentivized to support and grow and be rewarded when an organization or project becomes a success. However, what needs to happen is there need to be frameworks in place where projects get fair valuations backed by how they are progressing. Many ICOs raised hundreds of millions of dollars, and then the creators or the founders of teams were not incentivized to build these projects and make this a success. So we believe that the future is where tokens start with an extremely low valuation. They raise just about enough money for them to grow and scale. And over time, as these projects become a success, the founders, team members, stakeholders, users, employees, customers, and providers all benefit from the growth of this ecosystem, aligned with the different metrics that support these tokens' growth.

 

DEFI - Decentralized Finance

DEFI creates a new system where these financial systems do not need to operate in a trusted way the same way. The big problem with the decentralized finance movement is that there are many leaders and innovators in the space. However, they are significantly overvalued. The amount of actual value created by these DEFI protocols and systems is not where they really should be to match their valuations. Many institutional investors, people from the current economy look at DEFI protocols and DEFI projects and are amazed about the possibility of something being several hundred millions of dollars while creating little value. To solve this, UNIT creates real-world value on these DEFI platforms and protocols.

 

KYC and AML

KYC stands for Know-Your-Customer, and AML stands for anti-money laundering. Governments, financial authorities, and other organizations put these systems in place to prevent money from being moved around the economy illicitly or being used for trading illegal products like drugs or supporting human trafficking. We do KYC and AML to ensure that the people working within our ecosystem and platforms are not doing anything illicit or partaking in illegal activities and providing safety to our community. Because fundamentally, safety is our prime concern. Our members' privacy is of utmost importance, and we ensure that sensitive documents (i.e., identification cards, passports, proof of address, etc.) are securely held. We guarantee that none of this information gets sold to third parties, accessed, or used for reasons which aren't supportive of our community.

 

 

TECHNOLOGY & PLATFORM FEATURES

UNIT Search

The search on UNIT and our various marketplaces is a straightforward process. You type in a location and are provided with a list of providers. You get a chance to review the profiles, and then you send a message to who you're interested in buying a product or service from.

 

UNIT Instant Messaging

Once a member has found a provider/seller of interest, our messaging tool enables direct communication and alerts on inquiries and messages from clients.

 

UNIT Bot

The UNIT Telegram Bot is our preferred platform. It allows Telegram's community, with over 400 million users, to utilize the UNIT platform and network, whether searching for a provider, looking at their tokens' portfolio, exchanging tokens between different networks, the telegram bot supports that. We have also built an effortless and easy-to-use messaging and text-based system to make it easy for people within the telegram ecosystem to utilize the UNIT’s value.

 

UNIT Teams

UNIT teams are the way by which providers move towards becoming micro-entrepreneurs. As they bring onboard customers and other providers to the platform, they help to grow the ecosystem and community while building an agency-like business where they receive a percentage of service fees that the platform makes. Unlike other platforms where incentives are a one-time benefit, we share the lifetime value of what these providers make or what the customers spend with the team leaders. We are doing this because as we grow and scale this UNIT movement and UNIT platform, we want to make sure that the people who are part of creating this change and growth are the main benefactors from this economic growth.

 

UNIT Digital Wallet

The UNIT wallet stores all of your tokens and makes it easy for users, customers, and community members to hold different tokens within their portfolio, exchange for others, execute token purchases, create tokens, and browse for available tokens.

 

How to sign up?

By getting an invitation from a current member, we create an effortless sign-up process for one of the UNIT platforms and curate a high-quality network, where members of our community can vouch and bring onboard other members. The power of connections is what drives and changes the world. Over time, people will progress from living in a world where they always worry about themselves, need to think about how to grow and thrive and develop individually to a world where they can support and help one another benefit and provide mutual support.

 

Invite Program

We believe in the power of invitations or referrals; when you get invited to the community, you are essentially vouched for. Like a close friend or expert's recommendation, this process creates an ecosystem where people trust one another, independent of each other through introductions and connections. By creating this invite-only system, we can gradually grow and develop our network to bring together the best people in different industries and markets through the power of introductions and connection.

 

Why do providers offer their services and products?

Providers will have access to a global community and seamlessly build their client base. They don't need to worry about marketing or promoting themselves to customers. Every day, they wake up and get inquiries from people to provide products and services.

 

Providers Issuing Tokens

Providers should issue tokens because fundamentally, it increases the chance of them succeeding. Their fans, followers, friends, and community will be incentivized to help them grow, as well as reduce the risk on their entrepreneurial or project journey. This will enable moving away from projects that are created with the sole intent of getting acquired or going public, and rather allowing tokens to provide the needed liquidity for founders and the teams to succeed.

 

Customer/Members Buying Tokens

Customers/Members should buy tokens to incentivize their interests with the founders and the team members pushing for the project. We live in a very fragmented society, where we have the founders and investors on one side. On the other side, we have customers and employees. We believe in creating an economy where the customers, the users, the employees are also stakeholders and motivated to drive and grow these organizations, businesses, movements, protocols, and projects, as much as the founders and the team, which, whereby the rewards are shared and distributed much more equally.

 

STRATEGY

Marketing Strategy

Unlike most businesses that hire a marketing team to build a sales and marketing strategy, we have a community-driven approach to grow and thrive. Instead of just determining the customer lifetime value and customer acquisition costs within each of these industries or cities, we're allowing our community to onboard members, providers, and customers to the platform and network and get rewarded for it. Members will benefit from adding value to the organization for a lifetime.

 

Sustainable Development Goals

The UN Sustainable Development Goals work was created by the United Nations to solve some of the world's most pressing issues. We'll focus on Sustainable Development Goal number eight, which focuses on economic growth, whereby we want to provide a way for everyone in the world to be taken care of economically and to be provided a financial buffer so that people don't need to worry about how they're going to pay their bills support themselves or their family.

 

Partnerships

With UNIT and our marketplaces, we're focused on powerful partnerships. We want to get the insight, expertise, and advice from individuals who understand industries and have been around for much longer than we have. We also believe that it is essential to get the credibility and reputation of those who have earned it over countless years and work with them rather than aim to disrupt them the same way. We enhance, digitize, and provide a cooperative approach to innovating within these fields, improving it and growing it, and helping the existing incumbents benefit from the utility and technology that we're providing.

 

Viral and Influencer growth

UNIT focuses on working with influencers, as well as micro-entrepreneurs who can support viral growth. Instead of merely depending on our marketing team and marketing strategy, we focus on ensuring that we have a strong viral coefficient. Every person who comes onto the platform is motivated to invite and refer other people so that they benefit from the value being created and ensure the growth of the community and ecosystem.

 

UNIT Master’s Program

The UNIT Master's Program is a program where we allow experts and providers or even people with a vision to come into our program. We guide them with our mentors and advisors' support to help them become a successful provider within the ecosystems and become a micro-entrepreneur, where they're mentoring and supporting others who are providing real products or services. We do these batches, which run from a few weeks to a few months. During members gain from personal and professional development.

 

COMPETITION

Comparison to Airbnb or Uber

Airbnb or Uber have been extremely innovative projects that have created commerce opportunities for micro-entrepreneurs to rent out their apartment or become drivers and provide services in the form of rides or apartments to customers. Our main difference from Airbnb and Uber is that both of these organizations are worth and generate billions of dollars, but none of this value goes to the drivers or the Airbnb hosts, who are so essential for that value creation. UNIT will create marketplaces like Airbnb or Uber, however, with a new economic model where the providers and the customers are rewarded for all this value creation and growth, not just the founders and the investors. We also make it incredibly seamless to book a product or service within one of our marketplaces by connecting you to experts and match you to options that serve you best.

 

TEAM

UNIT Team

Our team for UNIT is exceptionally talented. We have people from a broad range of industries, from fashion, finance, science, art, property, and many more. We believe that bringing talented people together with a passion for UNIT‘s mission and vision can drive colossal change together. With its diverse understanding of and across industries, our team helps us grow within those fields and are community leaders who have a strong network within cities and different industries. We will have a core UNIT team, and each of our platforms will have sub-teams. We will bring together 200 people within our platform and marketplace who will focus on having us be the leading solutions platform.

 

Advisors and Mentors

We welcome top advisors and mentors and are very grateful for having you here. The point of bringing together all of you experts, visionaries, and those that have helped play an integral part in creating the present that we live in, is to enable mentoring support to the members of our ecosystem and the leaders of the different Unit marketplaces. We believe that with your insight, advice, and feedback, we'll ensure that the direction and vision we are moving towards are positive and supporting different people within the ecosystem.

 

LEGAL

Legal Implications of Token Launches

UNIT Fuel (UFUEL) tokens are functional utility tokens within UNIT Chain, which is a fully functional, Substrate-based blockchain with a digital currency wallet, node explorer, and dApps. UFUEL tokens are not securities. UFUEL tokens are non-refundable. UFUEL tokens are not for speculative investment. No promises of future performance or value are or will be made with respect to UFUEL , including no promise of inherent value, no promise of continuing payments, and no guarantee that UFUEL will hold any particular value. UFUEL  tokens are not participation in the Company and UFUEL  tokens hold no rights in said company. UFUEL tokens are sold as a functional good and all proceeds received by Company may be spent freely by Company absent any conditions.

 

Licenses and Approvals

Licenses and Approvals Licenses and approvals are not assured in all jurisdictions. UNIT DeFi intends to operate in full compliance with applicable laws and regulations. The views and opinions expressed in this whitepaper are those of UNIT DeFi and do not reflect the official policy or position of any government, quasi-government, authority or public body (including but not limited to any regulatory body of any jurisdiction) in any jurisdiction. This whitepaper has not been reviewed by any regulatory authority.

 

Third Party Data

This whitepaper contains data and references obtained from third party sources. While the management believes that the data is accurate and reliable, they have not been subject to independent audit, verification, or analysis by any professional legal, accounting, engineering, or financial advisor. There is no assurance as to the accuracy, reliability or completeness of the data.

 

Translations

This whitepaper and related materials are issued in English. Any translation is for reference purposes only and is not certified by any person. No assurance can be made as to the accuracy and completeness of any translation. If there is any inconsistency between a translation and the English version of this whitepaper, the English version prevails.

 

Disclaimer

No content of this document, nor any link is a public offer of a security or any other financial instrument in relation with any company including the UNIT team or any of its associated companies including (without excluding any other) UNIT Technologies. This white paper or any other associated content does not constitute any advice to buy, sell, or any solicitation of any offer by the provider of the UNIT tokens (the "token provider") to purchase any UNIT tokens nor shall it or any part of it. The fact of its presentation does not form the basis nor is to be relied upon in connection with any contract or investment decision. The sale and transfer of the UNIT tokens will be performed by the UNIT team. The proceeds of sale of the UNIT tokens will be deployed to fund the herein described cryptocurrency projects, businesses and operations. No person is bound to enter into any contract or binding legal commitment in relation to the sale and purchase of the UNIT tokens. Any agreement as between the token provider and yourself as a purchaser and in relation to any sale and purchase of UNIT tokens (as referred to in the white paper or this website) is to be governed solely by a separate set of documents setting out the terms and conditions of such agreement. In the event of any inconsistencies between the Terms and Conditions and the content of this website or the white paper, the Terms and Conditions shall prevail. You are not eligible to purchase any UNIT tokens in the Initial Sale Offer (as referred to on this website or in the white paper) if you are a citizen, resident (tax or otherwise) or green card holder of the USA, China, Singapore, Iran, North Korea or Syria. No regulatory authority has examined or approved of any of the information set out on this website or in the white paper. no such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of any content of this website, the white paper or any linked content does not imply that the applicable laws, regulatory requirements or rules of a specific country have been complied with. The sale of UNIT, website or white paper, any part thereof and any copy thereof must not be taken or transmitted to any country where distribution or dissemination of the white paper is prohibited or restricted. There are risks and uncertainties associated with the UNIT token sale that should be taken into account. The companies of the UNIT team and/or the token provider and their respective businesses and operations, the UNIT tokens, the initial sale of UNIT including the loss of value of the issued token which can result in a complete loss of value.

 

Disclaimer of Liability

To the maximum extent permitted by the applicable laws, regulations and rules, the companies of UNIT and/or the token provider as operator of this website shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance of the pre-sale, initial token sale or the white paper or any part thereof by you.

 

Jurisdiction and Law

Any claim or legal conflict arising from the sale of UNIT tokens, this white paper or any associated material or link included or information offered or given access through this website or any associated material shall be governed by the laws of Singapore and the courts of Singapore shall have the sole and exclusive jurisdiction.