Hi Guys, Welcome back. Today I’m covering very interesting project, Token Union.
TokenUnion is a decentralized application that automatically rewards you for holding Ether or ERC20 tokens.
Let’s learn more about the project and the ICO details together.
A better way to store crypto.
Users send tokens into their Holding Contract and earn rewards in the denomination of the same tokens they hold. Set it and forget it.
Fully autonomous reward distribution.
Upon storing tokens in their Holding Contract, the user agrees to pay a static fee of UNI, token union’s native token, when they wish to withdraw. When a user pays the fee, a smart contract programmatically distributes the fee amongst all network participants as a reward, proportional to the percentage of the Total Network Value (TNV) they constitute.
Get rewarded in the same tokens you hold.
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.
Completely decentralized and provably fair.
The TokenUnion network does not rely on a central authority to function. It operates entirely on its own, based on predetermined conditionals written into the code. It will function as intended for as long as the Ethereum blockchain exists.
You can check how it works on the website if you were interested in. I’ll say that their website is really simple.
I would suggest attempting to read the white paper.
Now time to check who is behind token union.
Their CEO is Shayne Coplan.
Shayne Coplan is a New York City based cryptocurrency entrepreneur who has been in the industry for 5 years. Starting in 2013, he began mining Litecoin and buying Bitcoin, quickly discovering the ease of use of cryptocurrencies. As an active member of the crypto community, Shayne discovered the Ethereum project in early 2014 and went on to participate in the Ether presale in July of 2014 with the investment thesis that if the blockchain was ever going to be adopted for the use cases people speculated it would, something like this would need to exist. From then on Shayne had a financial incentive to support Ethereum’s progress. 2 years later, he moved to San Francisco for the summer to intern at Chronicled, one of the first venture-funded Ethereum startups. At Chronicled he was immersed amongst a team of blockchain-obsessed tinkerers, and it was there where his eyes were opened to the vast possibilities of decentralized applications. After, he began attending NYU as a computer science major. Half way through Shayne’s second semester at NYU, the price of Ether began its mega bull run. Shayne recognized that the time to build was now and, fortunately, the price rise had given him the financial stability necessary to live on his own, so he left school to pursue blockchain projects full time. Shortly after, he began working on TokenUnion.
Lead Solidity Developer
Originally from Naples, Florida, Ryan moved to NYC to attend NYU where he received a BA in Psychology while studying pre-professional medicine. He spent the next few years conducting research and coordinating educational conferences. While working on a Master’s degree in finance he started a small tactical-trading fund that used algorithmic trading to profit from divergences in volatility in similarly-priced indices. He became interested in crypto after watch BTC go from $12 to nearly $1000 and knew that the future had in store great potential for these digital currencies. Having been writing code since elementary school, he was able to get back into coding rather quickly following his departure from the fund manager role and focused mainly on Solidity for the EVM. He enjoys writing new code and sharpening his DevOps skills in addition to auditing existing code for projects such as DomRaider for example. Maintaining working knowledge of the latest changes as well as any new exposed security flaws in Solidity are part of his daily routine. His attention to detail and push for quality are two of the many ways he ensures any project with his involvement is a shining example of where the bar should be set.
Samuel Mlodozeniec is a native New Yorker who is heavily influenced by his artistic upbringing. Samuel’s approach is inspired by Bucky Fuller’s definition of the Comprehensive Designer. Samuel builds projects from the ground up – taking them from idea, through design, into implementation, maintenance and promotion. Over a five year span, he has worked on and developed applications for iPhone, Web, & Amazon Echo in verticals including Game Design, Active Aging, E-commerce, and Marketing & Social Networking. Most recently he has been working on building dApps using Truffle, Web3, and Solidity.
Web : Token Union
WhitePaper : Token Union White Paper