Unifi Protocol has just stated that it intends to purchase SesameSeed’s assets for $10 million. With the addition of uStake to its ecosystem, Unifi Protocol becomes the first DeFi platform to include blockchain node staking payouts.
The SesameSeed Purchase
The acquisition of multi-chain staking provider SesameSeed and its assets has accelerated the development of uStake. The Unifi protocol will acquire multiple blockchain nodes on Harmony, Ontology, Icon, IoTeX, Tron, and Waves due to its acquisition of SesameSeed. Over 250,000 blockchain addresses have pledged $13.1 million to the nodes, giving them a total stake of $13.1 million. Before starting to run these nodes, Unifi will rebrand them.
Unifi has also announced that it has acquired the SEEDGerminator Fund, which has a $1 million valuation and will be used to fund Unifi’s future development. SesameSeed’s acquisition aids the protocol’s expansion and emphasizes the importance of UNFI Community Governance.
Unifi will also gain valuable experience in running blockchain nodes, developing smart contracts, managing multi-chain staking, multi-chain wallet integration, and token swaps resulting from the acquisition.
Holders of UNFI Tokens Are Important
The acquisition emphasizes the significance of UNFI token holders, who have the last say on whether or not to accept the deal. The acquisition was approved by 99.7% of token holders. UNFI token holders will be entitled to claim 2% of the conversion value of the token as part of the arrangement.
The agreement allowed the protocol to add millions of dollars in assets and access to the $1 million SeedGerminator funds, which will enable the protocol to motivate developers to build on it. The holders of UNFI tokens also voted to include the SesameSeeds market cap in Unifi’s token economy.
Holders of the UNFI and UP
Unifi’s acquisition strategy will also feature a four-phase event to see $8.5 million in blockchain assets converted to UNFI and UP in the SEEd token’s redeeming value. 275,000 SEED token holders will be able to participate in the Unifi ecosystem and become UNFI token holders due to this procedure.
When it comes to the UP mint rates for projects and trading pairs, the Global Governance Model (GGM) also provides advice and oversight. Unifi would absorb $8.5 million in value from native blockchain tokens as part of the SesameSeed transaction. Through the conversion process, these will be integrated into the UNFI and UP token ecosystems.