UniDex

Dec 11, 2021

4 min read

Roadmap Update: UNIDX

Intro

It’s been a short year for us at UniDex! So many things have changed since the first iteration of the token, such as fee percentage votes, liquidity migrations, and supply changes. Many may not know, but the original supply was 20 million, and 16 million UNIDX tokens got burned over time. This is just an example of how the UNIDX token has changed over time this year, good or bad. We want to highlight some of our upcoming plans for the UNIDX token for 2022. Let us get to some of the subjects we’re ready to discuss with the community without further ado.

Rewards distributions

We have been going more aggressive in our marketing approach for the past month by seeking influencers across youtube, and other social media where the terminal can be adequately showcased. We’ve lined up press releases, advertising, and other paid marketing efforts in order to get the word out. This was more of an experimental change, and so far, the numbers do look good in terms of our growing user base on the platform. It’s time to default back to payouts after this trial period ends. However, we still believe the majority of the community thinks this change in the short term is a good move and thus want to put it to an official vote. In the future, assuming the vote passes, we would like to be more transparent and have more community involvement to increase the effectiveness of the promotional marketing. Our first community vote on the matter will take place next week with a proposal to use collected fees for marketing until 1 Million daily transacted volume is reached. We believe this is enough for the team to help steer opportunities ourselves.

Staking options

We want to incentivize more reasons to hold rather than buy news events or ride volume waves. We’re introducing a lock-up staking mechanic where users can lock their UNIDX for a certain amount of time and receive UNIDX from fees coming from our cut of fees ( people not staking are unaffected! ). This allows holders who share the long-term vision to lock their UNIDX and get more UNIDX as a reward with two different tiers of locking. Staking rewards get generated through a percentage of the team’s fee cut used to buy back the token on the platform and then shared to holders. We want to make sure that UNIDX continues to keep healthy market activity, and we think this is an excellent system to reward those for holding. Naturally, in our upcoming volume dashboard, we want to highlight the extra incentives those staking are collecting in addition to stats on these buybacks.

CEX opportunities

Recently we have been exploring listing on a centralized exchange, and we do have a few options. For starters, we do have one in mind that has been listing a few of our partners already. Thus we want to explore the same possibilities after reviewing the opportunities presented. Naturally, we can’t discuss any particular names for NDA reasons, but we do have a chance close to home soon. A fantom-specific CEX powered by Binance cloud is launching soon for projects on the chain. In addition to our other opportunity, given the circumstances are still the same as when it was originally unveiled.

Stay on Fantom?

The ETH rollup future is expanding, namely one of our recent additions to the terminal being the BOBA network. With our upcoming changes on the terminal for cross-chain trading, this shouldn’t fundamentally make any difference where the liquidity resides since they can buy from the source network on any chain they’re connected to currently. Boba network has recently been one of our recent additions exploding in usage and an ecosystem growing alongside ETH and the rollup overall. This is a thought for the future, but sometime in Q1, we will introduce a vote to migrate liquidity onto the L2 once the ecosystem sees more extensive growth. We have also been in contact with a team building a new DEX on the Boba network ( that isn’t uniswap/sushiswap based ) that wants to join under the UniDex Forge program using our charting and trading tools.

While their project is still being built, and the discussion can change in the future, it could mean more farming opportunities and working more closely with a DEX of the UniDex ecosystem than we could on FTM.

Let us know your thoughts on some of these changes, and we expect the chat to get pretty active over the next few weeks. Remember to respect everyone’s opinions, and let’s discuss in the most respectful way possible. Not all of these changes will be enacted as some are up to discussion from the community, so let us all come to the best outcome together. In other news, our Perpetual protocol integration has been completed and deployed live today, in addition to some more excellent updates to the terminal.

Socials

Discord permanent invite link — https://discord.gg/WzJPSjGj4h
Twitter — https://twitter.com/UniDexFinance
Telegram group — https://t.me/unidexfinance
Telegram ann channel — https://t.me/unidexapp
Website -https://www.unidex.exchange/
Trading Platform — https://app.unidex.exchange/
Business inquiries — marketing@unidex.finance