MXC AMA Recapitulation-Unification(FUND)
Yity@MXC
Guest: Neyma Jahan, the CEO of Unification
Host: Molly
Introduction:
Thank you very much for having us today. my name is Neyma and I am the CEO of Unification, our team has been working together as Enterprise Development consultants for nearly 10 years and in 2018 took this experience and decided to enter the blockchain industry.
Unification is a hybrid blockchain ecosystem that brings the best of both worlds. public and private. The Assets on the chain are FUND which is a native mainnet token currently trading on MXC and soon to be released xFUND, which is a validator emission whose supply starts at 0 and can only be captured by collecting FUND and staking on-chain.
This hybrid system of governance allows the ecosystem to grow towards perpetual decentralization.
Voice link: https://t.me/MXCEnglish/427122
Questions from community:
Molly: Q1.Why did you choose MXC as primary exchange listing partner, what collaboration do you foresee FUND and MXC having in the near future? From @shinichiconan214
Neyma Jahan:
Great question. one thing we love about MXC is ease of use and depth of liquidity. While we have been trading for over 1 year, MXC is the first exchange where it offers proper depth of market. This means that someone can come in and buy or sell $10,000 worth of FUND without drastically moving the price.
This is very important because the way our structure is setup is that our bizdev department is buzy at work signing enterprise clients and when they come into our ecosystem, they will need to buy large amounts of FUND. Because of the liquidity on MXC, they can come do their 5 and sometimes 6 figure market buys of FUND to aquire the FUND needed to operate their WRKChains and BEACONS (fund ecosystem tools)
For the future, there are many possibilities, many of our commnuity have asked for margin trading of the FUND asset, that is one product that I know MXC offers, but that would be their decision. Also with the imminent release of xFUND (similar to yfi for context) that will be an ERC-20 so there may be a possibility of a dual listinf of FUND and xFUND. However these are still all in the realm of posssibility. Right now FUND is in the assement zone on FUND so we need your support to keep trading it, increase the volume so we can upgrade to moon rocketship level
Molly: Q2.What are Public Accountability Chain (PAC) platforms used for? What happens when someone adds wrong / inappropriate data into the PAC? From @Shaa93
Neyma Jahan:
great question . and for context, this is what they are asking about. www.pac.foundation
\https://medium.com/unificationfoundation/public-accountability-chain-pac-a-framework-for-distributed-data-828372f64095?source=collection_home---4------1-----------------------
So PAC is a decentralized record keeper chain in the Unification Ecosystem.it is a BEACON and I guess the best way to descrive it would be similar to like a "Dapp" is on the ETH network.
PAC can theoretically be used to store ANY DATA that people want to have permanently stored in a public matter. So one of the first use cases of PAC was to store permanent records of police misconduct reports. This is an important social issue in the united states. The development of PAC was funded by an anonymous source (we don't take sides politically we just build the tech) and is setup in a way that all data on there is distributed so that even if we received a takedown notice, the data would live in other locatins.
now to the last part where they are asking if questionable data was uploaded, well- we can consider that akin to a blockchain. Anybody can broadcast a block on ETH or BTC or FUND networks but others are not required to record it.
Molly: Q3.Currently "Staking" is a very popular topic. Can you please explain the detail about the $Unification staking plan and the benefits of adding "staking"? From @guuadunbi
Neyma Jahan:
Ahh , yes. . for those that don't know- FUND is a native blockchain based on tendermint and we allow up to 96 validators to run nodes and stake - - currently interest rates are around 8-9% per year. But what is very interesting is that you do not need to run your own node in order to capture block rewards, our chrome wallet for FUND actually lets you stake from inside the wallet (while you maintain full custody) This allows users to HOLD and receive great returns. For info on Staking returns you can see here https://medium.com/unificationfoundation/easily-forecasting-potential-earnings-for-unification-stakers-validators-376317dc37f4?source=collection_home---4------0-----------------------
our web wallet is here btw https://chrome.google.com/webstore/detail/unification-web-wallet/mkjjflkhdddfjhonakofipfojoepfndk/related
The next 2 questions are from FUND community:
Molly: Q4.I have heard rumors about the coming of xFUND, can you get explain how xFUND helps Unification enter into DeFi?
Neyma Jahan:
xFUND is a revolution of DeFI.So right now we have FUND which is a naitve coin and used for on-chain governance and staking and tax.but then we have xFUND, which we learned alot about how to design from our friends at yfi and curve.
what it is, is it is an emission captured by validators on the network. So if you stake FUND and run a node, in addition to getting blockrewards, you may "hit the lottery" and capture some xFUND.
what makes it amazing is that supply starts at 0. And there are a max of 24 generated per day. Making it very scarse. It of course is an erc20 and used for on-chain governance. We think there will be a relation between FUND and xFUND. As people will need to buy FUND (on MXC hopefully) in order to capture xFUND. This is all very new news being released and we expect the debut to start in 2 weeks where the entire industry will be trying to capture xFUND.
Molly: Q5.I am very excited about the price oracles on Unification, can you tell us how you developed this and what are your plans for your partner platform?
Neyma Jahan:
Great question - PRICE ORACLES are a hot topic in the industry = and I should say that FUND is not a "price oracle project" Honestly we are more like Ethereum - where nearly anything can be built on us, including which one thing is in fact price oracles . and was build here with www.finchains.io.
That is a tax paying WRKChain and is used by ARB traders to find price discrepencies in high cap tokens across different exchanges. For instance you may be able to see in real time (or historically) that LINK is trading cheaper on MXC than some other exchange and make a quick ARB trade. This is just one of many products in our ecosystem and one of the most valuable and used daily by many traders.
Free-asking Session
Q1. You don't experience any inflation, you could say 0%, how can I benefit from your concept? Do you use the concept of Sharia?@JhnMax
Neyma Jahan:
Really good question John . For those are are not Familiar, Sharia law is Islamic law that gives certain stipulations for money and interest. I cannot say that Unification follows this, because I am not an Iman, however I can say that when we designed the system with 0% inflation we designed with attempting to be compliant to Sharia law in mind. Later this year we are actually beginning a collaboration with the computer science department of a major Islamic university to continue to study the feasibility of this. Our goal of course would be opening the unification ecosystem to the Billions in the Islamic world
Q2. In a video Unification CEO mentions that they are working in a testnet to simplify the access to the data of patients in healthcare systems of developing countries by having the data in one place with the blockchain technology, what is the paper of blockchain, and specifically unification in this use case? and to which other situations do you expect to adapt it?@sangmark1
Neyma Jahan:
Great question SANG and I think you are referring to the project in Brazil we started in 2019 where began to put health data on the blockchain. Currently we are stamping 3 BEACONS and estimated to consume almost 1million FUND per year on this iniative. You can read more about it here actually https://www.forbes.com/sites/darrynpollock/2019/04/26/brazilian-medical-records-getting-blockchain-boost-may-be-the-route-to-digital-identity-adoption/#1d73c867b868
you can also see further details in this video https://www.youtube.com/watch?v=lBFtJ_Y-co0&t=3s
Q3. Is there any relationship between XRP and UND? I've seen something as regards their common interests, is that true?@eylem201
Neyma Jahan:
Not exactly, but there are some interesting correlations. 1 - our CPO Maziar Sadri used to be on the same team at Yahoo as Brad Garlinghouse (CEO of RIPPLE) 2- One of our Biz dev guys Larry Gandt used to do BIz Dev for RIpple before coming to FUND 3- our main investor and market maker yellow.com (also is behind AVA) the founder of this is the founder of GSR who was the primary market maker for XRP 4 - like Ripple is focused on fintech, we are focused on enterprise. However.. there is a little difference between FUND and XRP in that we do not have the ability to mint more tokens. our total supply is our total supply 😊 great question again. hope this gives you some good stuff to research.
Q4. What is the structure of the company, is it a decentralised, open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?@Momjk
Neyma Jahan:
Voice link: https://t.me/MXCEnglish/428730
Q5. FUND logo and collor are so unique,Can you share the idea or the meaning of Funds logo?@pok990
Neyma Jahan:
Great question POK. Our logo is actually based on the legend of the Minitour from Greek mythology. It is focused around finding the center of the labyrinth, to solve the mystery. In practical technical terms this means that we are coming to the heart of decentralized data and slaying the beast of centralized power and wealth to give it back to the people https://en.wikipedia.org/wiki/Labyrinth
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