Metamorphosis: Unification DAO 2.0

Since the genesis of Unification in 2017, the goal of the Unification Foundation has been to increase sovereignty, personal and community ownership, and bring evolution to technology for a decentralized world.

To best serve the blockchain world and the decentralized vision that we believe is the future we are progressing towards, we have taken many steps to serve this mission.

Our growth has spanned across the growth of the blockchain world, in tools of self sovereignty, (such as the Original Babel, utilized in Private insurance and banking consortiums across the world), Enterprise Blockchains (such as Beacon, utilized by over a dozen government and private enterprise) Decentralized Finance (DeFi), (such as Oracle of Oracles (OoO), used across many Dapps & Decentralized exchanges such as ShibaSwap & API3) the NFT Space (such as VOR) , and all that is to come, in the Web 3 world and future metaverse.

Evolution

We are proud to say that at this time, with the immense growth of the blockchain space, and support from the ecosystem, the mission of the Unification Foundation has grown beyond the original team, and will therefore be served best by the next evolution of the Unification DAO 2.0.

We have reviewed and adapted elements since the origins of DAO’s, & while the original Unification Blockchain enables voting by FUND delegators — which served as an initial DAO (1.0), it came with a need for certain individuals to take a leadership position to bring us to this place and make decisions for the community.

At this time however, as Unification has grown Beyond us, we will serve by best serve by shepherding in this next evolution of Unification. In order to do so, Unification is joining the rank of top leaders in the Defi space such as Shapeshift & Polygon to migrate further into a a Decentralized Autonomous Organization. The Unification DAO 2.0 will allow full ownership of the decisive future to all those who support and utilize the network.

While Unification has served the Enterprise and DeFi world by making the decisions to develop the tools that the leadership saw best fits for, such as WRKChains, Beacons, side chains, as well as tools serving DeFi in the ERC-20 world, such as the Oracle of Oracles, VOR, and more to come, we recognize that the future is far beyond merely the understanding of a few in the leadership and the best lays in the hand of all of those who wish to take a stake in progressing DeFi and the future of blockchain together.

A New Era: Unification DAO 2.0

It is therefore, the best decision to progress by forming the Unification DAO 2.0, as the genesis foundation team will continue to support the development decisions of the entire community.

Within the DAO 1.0 model, this decision will be at the hand of validators, while we expand to bring the option to all of those who take a stake and interest in the future of xFUND, and the Unification ecosystem.

Among the first steps of these decisions will be a community vote to increase the supply of xFUND emissions from the original 8,888 to a final supply of 10,000. The decision is now live to validators and can be voted on in the next weeks, concluding on October 11th, 2021. In case that the vote does not pass, the halving schedule will be adjusted to retain to original supply of 8,888 and in the case it passes, the new date for the halving will be 6th January 2022 with the final supply of 10,000 xFUND.

As xFUND has proven to be one of the most valuable utilities in the DeFi space by preventing price hacks and providing a truly open randomness model for the VOR/Gaming & DeFi space, the expansion to 10k serves to broaden the utility across all holders & participants.

While we believe that this decision will be beneficial for the ecosystem by normalizing the availability of xFUND, the ultimate decision will be to our validators in the original DAO 1.0 model.

In order to vote, you need to own FUND and have it staked to a delegator who you believe to serve the best interest of the network. For those who already have FUND delegated, we encourage you to let your preference be known to your validator and make sure that their decision aligns with yours. The validator can vote on your behalf, or you are free to have your own say and vote your own way. Validators can use their entire stake power and vote on behalf of delegators. Delegators will inherit their validator’s vote, but they can also vote themselves to override this with more details available here.

While all fund holders are eligible to participate in the vote through the node operators they have delegated to (who will be casting the final vote), we recognize that there is certainly room for improvement for this model hence the creation of wFUND and DAO 2.0 which will allow all wFUND holders to participate directly in the voting process.

Introducing wFUND: Cross-chain Wrapped Governance

Given that the current voting mechanism is only available to network validators we will seek to expand future voting rights for decisions critical to the success of the foundation and ecosystem by creating Wrapped FUND (wFUND).

wFUND will be a wrapped ERC-20 version of the original FUND seamlessly interchangeable with a 1:1 swap between the Ethereum and Unification Blockchains. In this way, the Unification Blockchain will continue to serve Enterprises as well as the ERC-20 ecosystem, which will serve for governance capabilities for all Beyond validators who wish to participate.

Rather than voting through delegators (who may or may not always align with all their delegation’s interests), wFUND holders will be able to vote directly with their holdings.

wFUND will be available following the upgrade of the original Unification Network to Cosmos v.0.42.9 in order to support tools such as the Gravity Bridge, reduce network requirements for validators, bring additional stability, as well as additional Network Tools which DAO participants will be allowed to vote on.

The Cosmos SDK upgrade includes many benefits to validators and users, including but not limited to:

• Increased security and stability from the bundled Tendermint core upgrade and Cosmos SDK updates
• Faster sync times for new nodes — hours rather than days for a full node sync
• Better node software upgrade handling — which will be handled, verified and executed via governance proposals
• A single application binary to handle both the node and REST (light client) applications
• Bring FUND in line with the Cosmos Stargate releases
• A full list of benefits can be seen here — https://github.com/cosmos/cosmos-sdk/blob/release/v0.42.x/CHANGELOG.md

wFUND will also enable seamless liquidity for those who will choose to participate in supporting the network as well as future votes on development and changes in additional token pairs for exchanges and assets added to Oracles of Oracles as well as other Unification tool kits.

The Mission Continues

Oracle of Oracles will also be supported much more deeply with the creation of wFUND, given the increased possibilities and accessibility of FUND to be available beyond the original centralized exchanges. In the spirit of decentralization, FUND (in the form of wFUND) will soon be available across all DEXs who wish to support and integrate it in the future.

The DAO mechanism will also allow votes on Foundation grants to support development of new projects for the DAO, the inclusion of new tokens to OoO & Finchains in an ongoing/perpetual manner, as well as new proposals brought by all and any wFUND holders in the future.

The Foundation team continues to be at work to support critical elements such as the upgrade of the network, supporting development of new meaningful projects serving the DeFi space such as Revest Finance, CIV, ShibaSwap, our private enterprise and government partners and many more to come.

We will continue to unveil the details of the new DAO mechanism in the next months with the anticipated launch of wFUND in Q4 of 2021.

We look forward to growing, supporting, & seeing the growth of Unification in the future as it continues to evolve far beyond our original vision.