Unit protocol Announcements

Hi everyone, limits for minting $USDP have now been increased for the following tokens when used as collateral:

YFI 1M
KEEP 200K
FTM 2M
CRV 1M
KP3R 50K
ETH 1M
AAVE 1M
RGT 100K
WBTC 1M
SUSHI 1M
ALCX 200K
ARMOR 50K
UNI 1M
LINK 1M
HT 100K
GRT 200K
BADGER 200K
NEXO 20K
MKR 1M
HEGIC 100K
REN 1M
WOO 200K
COMP 100K
renBTC 200K
ANY 100K
SNX 550K
STAKE 100K
MANA 200K
renFIL 50K
BAND 200K
OCEAN 200K
FTT 200K
PERP 200K
DPI 100K
AUDIO 500K
UMA 200K
CVX 1M
LDO 100K
SHIB 100K
DNT 100K
CRO 200K
ZRX 200K
POND 50K
OKB 100K
GNO 1M
BAL 1M
SPELL 500K
OMG 200K
TRU 200K
SXP 200K
ORN 200K
REPv2 200K
INJ 200K
OXT 200K
OGN 200K
BAT 200K
ENJ 200K
LRC 200K
1INCH 200K
MATIC 200K
ANKR 200K
NU 200K
EDEN 200K
OCC 200K
BZRX 100K
NMR 100K
KNC 100K
ANT 100K
RARI 100K
AKRO 100K
BOND 100K
ALPHA 100K
BOR 50K
GTC 50K
AXS 20K
HOT 20K
TEL 20K
SLP 20K

Mint $USDP at https://unit.xyz

Swap $USDP at https://curve.fi/usdp

Stake your DUCK at https://unit.xyz/stakingv2

On October 22, 2021 at 04:55:12 + UTC, a transfer of 2,392,917 DUCK was made from the team's wallet to the address 0xbadbcd423ed08e99305cf806b0025c316c2b087c:

https://etherscan.io/tx/0xc42c5db859360000906692d95998ca0dbb8ea000443018b42dc70968d1ec9b67

This was a planned investment event which had been in the works for a year. As such, there was no suspicion that the individuals involved were scammers.

As soon as the tokens were transferred, the recipient began to sell them on the open market, making roughly 60 trades.

Due to low liquidity in the pools, the sales volume dropped as DUCK reached almost 0, and, as a result, liquidation on the following CDP was triggered:

https://etherscan.io/tx/0xaed4b98a3a4acd49f0c80f7abb319f83a3f5a1d25710a58fe5764bbf5d7caec6

The initial buyout price for the liquidated CDP was in the region of 0. This allowed a user to buy out a CDP position worth about US$ 3 million almost free of charge:

https://etherscan.io/tx/0x205657c84400412febd16bd1b36eb22e7187e5b39404a496f27aab359076bd78

The liquidated CDP belonged to the treasury team (unlocked tokens to date).


Conclusions

(1) The system was functioning correctly. No errors were found during a thorough investigation.

(2) As yet, we have been unable to establish a connection between the scammer (0xbadbcd423ed08e99305cf806b0025c316c2b087c) and the user (0x2FBb88EC97C4fFC513c837C566d801B368AA671E) who bought out the liquidated CDP. We will continue to investigate this.

We will also continue to work on Unit Protocol. We hope that this loss will have minimal impact on our long-term plans.

Ave Quackolytes! Don’t forget to claim your $USDP rewards if you staked your DUCK. Next distribution in one week 🦆 https://unit.xyz/stakingv2

Starting at 18:00 (UTC), October 28, 2021 the oracle for YV tokens will be replaced. yvcrvFRAX, yvcrvBUSD, yvcrvUSDN, yvcrvUST, yvcrvHUSD, yvcrvTUSD, yvYFI, yv1INCH, yvWETH, yvWBTC, yvSNX, yvLINK, yvUNI, yv3CRV, yvUDST, yvUSDC, yvSUSD.

We recommend withdrawing these collaterals from the Protocol before the system update.

Unit Protocol on Fantom will have its own (and entirely independent) governance token. The token will be used for voting on:

- adding new collateral
- managing the limits for one collateral
- changes to stability and liquidation fees

Both stability and liquidation fees (on Fantom) will be distributed to holders of the new governance token.

The token will be distributed among DUCK token holders, who will stake their DUCK for 2 to 4 years on Ethereum https://unit.xyz/stakingv2

Get a piece of the quacktion. Stake your DUCK.

100% of the stability and liquidation fees that Unit Protocol collects go straight into the pond to be distributed to DUCK stakers. When you stake your DUCK, you can choose how long you want to lock it in the pond so it can eat up the fees and bring you back delicious rewards in the form of $USDP.
Unlike Unit Protocol’s previous staking model, you don’t have to unstake your DUCKs to claim your rewards – you can do that any time the fees are distributed by hitting CLAIM.

Here’s how to stake your DUCK:

- Go to unit.xyz/stakingv2
- Choose how much DUCK to stake, or hit Max
- Choose how long you want to lock up your DUCK (from 1 week up to 4 years)
- Check how much veDUCK you’ll get for the amount and lock time you’ve chosen
- Hit Approve
- Confirm in your wallet
- Hit Lock
- Confirm in your wallet, again
- Congratulations! Your DUCK is locked in the pond. You can claim your rewards any time you see there’s been a distribution.

Ave Quackolytes – Good times down at the pond. APR for the current distribution stands at a whopping 92.21%. A well fed duck is a happy duck 🍞🦆https://unit.xyz/staking-usdp

Thank you all very much for participating! Winners, please write to the club on the wall here: https://www.chess.com/club/unit-protocol
Club owner https://www.chess.com/member/unitprotocol will contact you via chess.com for ERC20 address.

Dear Unit community! We are pleased to announce the winners of our first chess tournament! The winners are the participants who scored the highest number of points in the games.

https://www.chess.com/tournament/344193/player/danil_rudenko - 1st place
https://www.chess.com/tournament/344193/player/andrewkh330 - 2nd place
https://www.chess.com/tournament/344193/player/lance5500 - 3rd place

We're pleased to announce single-staking for our USDP stablecoin. Half of the stability fee goes straight to the staking pool. Stake/Unstake whenever you like. Crumbs! 🍞

https://unit.xyz/staking-usdp

Stability fees for all collaterals on BSC now at 4.9% for new CDPs.

Mint $USDP with https://bsc.unit.xyz , swap via https://bsc.component.finance

Starting from 23.09.2021, stability fees for all new CDPs with all collaterals on Unit Protocol are coming down to 4.9%. Existing CDPs remain as they were when opened. Snap. Quackle. Pop.

Dear community members,

Today, we're (finally) announcing the start of our marathon championship. Although it's starting today, there's no hurry. You just need to participate in chess matches with other club members.
The highest-scoring player will get $1000. Second and third places – $500 and $250, respectively.
The number of wins and losses, as well as the number of games, will be taken into account when deciding the winners.

For more info on the club:
https://www.chess.com/club/unit-protocol

Hi Everyone!

Regarding our plans to change the stability fee from 1.9% to 10%, please note that:

– All CDPs that are already open will remain at 1.9%. However, if you withdraw part of your collateral, or mint $USDP from this particular CDP then the rate of 10% will apply;

– The 10% stability fee will be in effect for all new CDPs;

– We plan to lower the fee again once the peg has stabilized.

Hope that’s all clear, but let us know if you have any questions.

Quack on

Hi everyone,

After thinking for some time about what we can do to bring us all together bit more, we're stoked to present the Unit Protocol chess club♟️

If you're up for joining us in a tournament, you can find some info here: https://www.chess.com/club/unit-protocol

If you can think of a suitable prize, let us know

Hi Unit, 🦆

We’re happy to announce that we’ve just rolled out buying for DUCK stakers!

Tx: https://etherscan.io/tx/0x2ac1d48cf65e1bbf5faf9607c7a1e0b9950697f05d66612df0347fd882a42885

We’re planning to redeem once a day for 1/30 of the current treasury volume – that’s approximately 30 thousand per day.

Treasury: https://etherscan.io/address/0x3f93de882da8150dc98a3a1f4626e80e3282df46

Stay tuned for updates. You can read up on our documentation at docs.unit.xyz !

We've just launched our CDP explorer! Now you can search all the CDPs on Unit Protocol by collateral or owner. Super useful for those who want to gain some insights into the risk appetite for different collaterals. Check it out at https://explorer.unit.xyz.