The rise of cryptocurrency and subsequent attention brought to blockchain technology has prompted nearly every industry to evaluate the benefits of integrating the technology into their operations. One such firm at the forefront of blockchain innovation is TOKENUNION and they are building a platform that automatically rewards you for holding Ether or ERC20 tokens.
WHAT IS TOKENUNION
TokenUnion is a decentralized application that automatically rewards you for holding Ether or ERC20 tokens.
A BETTER WAY TO STORE CRYPTO
The distribution of rewards is completely autonomous.
After storing the tokens in their Tenancy Agreement, users agree to pay UNI’s static rates, our original tokens, when they want to withdraw. When a user pays a fee, smart contracts programmatically distribute the costs among all network participants as a reward, proportional to the percentage of the Total Value of the network (TNV) they represent.
The team allocated the balances on which user tokens are stored in a separate contract and isolated it from the interface controlled and used by individual users, so you can update the interface in order to implement more advanced features in the future without access to tokens.
In addition, this branch significantly limits partner risks and protects user tokens from potential break-ins. Only users who own private keys can display tokens. Since the Reward DAO contract contains only UNI rewards, user tokens are isolated from potential vectors of centralized attacks. The team took all precautions to ensure the security of contracts, and added this last security feature in the event of an unforeseen vulnerability. Before deploying a decentralized application to the core Ethereum network, the team will find a professional audit firm to conduct the protocol check.
TokenUnion Network does not depend on the central authority to operate. It works completely alone, based on conditionalities that have been specified written in the code. This will work as planned during the existing block chain of Ethereum. Absolute decentralization and demonstrable justice. The TokenUnion network does not rely on any central government in its work. It functions completely independently, based on predefined conditional constructs inscribed in the code, and will work as expected, as long as there is a blocking Ethereum. In TokenUnion, the rewards a user receives get converted to the same tokens they hold in their Holding Contract via Bancor. For example, if you receive 1,000 UNI as a reward and hold 60% BAT and 40% OMG, 600 UNI worth of BAT and 400 UNI worth of OMG will be deposited back into your Holding Contract, thereby increasing your underlying position size.
HOW IT WORKS
Joining the Network
The TokenUnion Token
UNI is an auxiliary token used to pay a commission for withdrawal of funds in the TokenUnion network. Given the relationship between UNI’s utility and capabilities in the market, it is likely that demand for UNI will increase as a result of rapid market developments. UNI does not grant its holders the right to any income or rewards. The only option is to pay a commission for withdrawing funds.
Distribution of rewards
Every time the commission is paid, 100% of the amount received is distributed among users through tokens stored in storage contracts in the TokenUnion network; Token Union is not transferred any part of the commission for withdrawal. TNV is the total, expressed in Ether, value of all tokens in the TokenUnion network. Awards are given in accordance with the percentage of TNV, which is the contributions of individual users. For example, a user who owns a total of 1.8% of TNV will receive 1.8% of the commission for withdrawal, however often it is paid. TNV is constantly recalculated in Ether taking into account the change in the rate of embedded tokens.
TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT
FOR MORE INFORMATION PLEASE VISIT THE LINKS BELOW;
Website – http://tokenunion.io
WhitePaper – https://docsend.com/view/hj4tdrk
Github – https://github.com/TokenUnion/
Twitter – https://twitter.com/tokenunionio
Telegram - https://t.me/tokenunion
Bitcointalk Username: Brainerdpaul
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=1680409
ETH Address: 0x1461b1E13ac15B849B8fa54DcFa93B3961992642