TokenUnion - this is a decentralized application that automatically rewards you for storing your ERC20 or ETH tokens
Good afternoon, dear friends, today I would like to consider topical for all question everyone related to the financial sphere. Every working person sooner or later thinks about how to save and, if possible, increase their earned money. Someone has the opportunity only to live from salary to salary, someone tries to save and, if possible, accumulate some kind of deposit, well, someone wants to increase this deposit in several times.
To multiply capital in fiat, you can use different ways. The most common of which is to put money on a savings account at interest. But the whole point is that in this case, you cannot be sure of a 100% increase in the deposit since the following troubles are possible:
- at any time the organization with which the contract is concluded can change the rules prescribed in advance and the changes will clearly not be for the better for you. So the interest rate can be lowered, which will not cover the growth of inflation;
- you need to carefully choose the place to store your money, as there are a lot of banks and similar organizations and at any time they may end or be revoked a license, which again will play against you;
- if you want to bring back money earlier than the due date, then a commission will be charged from you, plus possible be on hidden payments or insurance;
- no one is immune from the next financial crisis, which can break out at any time because of the instability of fiat money and you can lose all your savings.
This is just the edge of the iceberg in the problems under consideration of the existing financial system. The existing financial system is full of problems and does not hurry to solve them. Many influential people first of all try to keep their deposit and do not even dream about the possibility to increase it and start thinking about crypto-currencies.
A huge innovative leap occurred with the advent of crypto-currency. I think everyone knows the advantages that can be obtained by keeping their savings, not in fiat money, but in the cryptocurrency - the main ones being:
- the first and significant is the fact of the anonymity of the owner of the crypto-currency portfolio, which is important for many people;
- the ability to quickly transfer money to anywhere in the world without intermediaries, spending minimal commissions or even without them;
- when you store money on his own wallet and securely hide your password, you will never lose your money and will be assured of the safety of your assets;
- your wallet will not be arrested and will not block the money on it. You are your own bank with your own rules, the main thing is not to lose your passwords;
- and of course one of the advantages is the fact that it is impossible to forge or modify existing transactions and other operations in the existing block system using blockchain technology.
So we have found a stable and profitable way of storing money and obtaining guarantees for the safety of our capital, but now it remains a question whether it is possible using blockchain technology not only to preserve its capital but also to increase it without taking part in deliberately risky operations such as trading and etc. In which you have a chance both to increase and lose all your capital. the answer is probably and it is very easy with the help of TokenUnion!!!
What is TokenUnion?
TokenUnion is the next logical step in the evolution of the existing banking sector using decentralization technology. To understand how TokenUnion works, you need to understand the essence of the normal banking system. From the name of the company, it is clear that TokenUnion is not a bank as a whole and here the system of storage of your crypto-currency assets stored in smart contracts created by you is used.
Upon reading white papereveryone can easily understand the essence of the project and start making profits by simply putting tokens into storage through the TokenUnion platform. The most interesting thing is that the platform rewards for storage, not for the movement of tokens. In addition to the fact that over time the value of the assets themselves will grow, so for HODL you will receive additional coins. The longer your savings will be on the account, the more profit you will get.
What is the minus you ask? There is no minus. Let's first understand the features of TokenUnion:
- tokenUnion network is not connected with centralized structures - it works completely independently, based on pre-written conditions recorded in a special code. While there is a blockchain etherium, there will be a TokenUnion network;
- to maintain the network in working order, TokenUnion uses its own UNI token, which is used as a commission when withdrawing your funds and rewarding other members of the system who continue to keep their HOLD tokens;
- putting ERC20 tokens on holding contracts, you will in the future receive a reward in the same tokens, thanks to the cooperation of TokenUnion with BANCOR (a service that allows you to convert one crypto currency to another without an intermediary at an automatically calculated price);
- you can follow in real time for your contract using a web application or mobile application.
If you go deeper into the question of where the remuneration for the long-term holding of the tokens is taken, because they are just as likely to be in the usual wallet, but do not bring money, the answer lies in the commission for withdrawing funds. In simple words, if the user decides to withdraw his money from the contract, he will have to pay a commission of 2.5% of the value of his deposit in UNI tokens. For example, if you received 1000 UNI as a reward and you hold 70% of your deposit in ETC and 30% in NBAI, then 700 UNI will be deposited in ETC and 300 UNI respectively in NBAI. This way you will be rewarded as a long-term holder. When paying a commission for withdrawal, a smart contract programmatically distributes the fee among all network members as a reward, in proportion to the percentage of the total cost of each member's network.
How it works?
Team
I would also like to dwell on the members of the team who are responsible for the development and promotion of TokenUnion. The team includes specialists who have participated in building dozens of large products from Stanford, Columbia, the University of California and New York and have worked in such corporations as Amazon, Goldman Sachs, JP Morgan, Coindesk, and AngelList. The list of people working on the project is impressive, but let's take a closer look at each one.
- Director - Shayne Coplan, an entrepreneur from New York. Since 2013, I began to mine litecoin and buy bitcoin, discovering all the advantages of crypto-currency. As an active participant in the crypto community, he participated in the pre-sale of ETH in July 2014. In 2016, he studied at Chronikled, one of the first successful start-ups on ETH. Soon he thought about own project and created the project TokenUnion.
- The main developer - Ryan Hendricks, a native of Naples, has a bachelor's degree in psychology, experience in master's in finance and his own trading fund, which used algorithmic trading. Characterized as a first-class specialist who knows how to achieve the set goals.
- Blockchain developer - Samuel Mlodozeniec, originally from New York, has experience working with applications for the iPhone, Web and Amazon Echo in verticals, including game design, e-commerce, marketing and social networks. Most recently he worked on creating dApps using Truffle, Web3, and Solidity.
- The software Director - Jared Madness, is also an early investor in cryptocurrencies, also headed the international Department of special projects for Mohawk group Inc, an AI + e Commerce startup with Google support.
- The software developer - Sean Park, a designer who studies Information Systems and human-computer interaction at Carnegie Mellon University. He worked as a design engineer in Maya BCG, where he played an important role in 6 client projects. You can find more of his work on https://seanpark.xyz.
- Blockchain developer - Terry Li, graduated from the Columbia University in mathematics. Prior to joining TokenUnion, Terry was a developer at Consensys, working on projects such as AdChain and Grid +. He also worked as a trader at Royal Bank of Canada.
- Security Engineer - Mark Barrasso is an avid computer programmer with a focus on the security of smart contracts, data integrity for all users. The main goal is to make security priority number one.
If you are not completely sure of the project team and think that they do not have enough experience to implement the plan, then let's dwell on the advisers who help and guide the team to follow the right path.
- The architect of ETH - Steven Nerayoff, the man who took part in the development of such projects as Ethereum, Lisk, Bancor, tZERO, ZenCash, ZCash, Ripio, Aion and Storm. He is also the chairman of the public listed company Global BlockchainTechnologies. Steven introduced such concepts as "utility", in particular, using for legal purposes the concept of "gas" and "fuel."
- The VoIP developer- Jeff Pulver, an entrepreneur known for his work as founder and head of pulver.com and co-founder of Free World Dialup, Vonage, MoNage, and Zula. Pulver was named the pioneer of voice communications over the Internet protocol and created VoIP telephony standards.
- Co-founder of CryptoOracle - Lou Kerner, is a partner of CRYPTOORACLE, VC and a consulting firm focused exclusively on companies that use blockchain technology smart contracts and decentralization. Lou invested in Facebook and wrote the first Wall Street Style report on the company in 2010, also holds a bachelor's degree in U.C.L.A. and a Master of Business Administration degree from the Stanford Graduate School of Business.
- Co-founder of CryptoOracle - James Haft, has 30 years of experience, accompanied and was a mentor in more than 500 start-ups, 7 ICOs, and 50 venture enterprises. He has a bachelor's degree in Vassar College and a bachelor's degree from Emory University.
- Former SEC prosecutor - James Dix has more than 20 years of experience in the banking and securities sectors. He worked at Deutsche Bank as a Senior Legal Counsel in the SEC, also specializes in securities analysis through his role as a leading analyst in Wedbush and Deutsche Bank.
- The founder and CEO of Lawnmower (Acq. CoinDesk) - Pieter Gorsira, an entrepreneur and an active investor in the block space. More than ten years professionally develops the software, creating products in such firms as Amazon and JPMorgan. Pieter received major prizes in the world's largest hackatons, including Money2020 and Salesforce.
Conclusion
In conclusion, I want to say that at the moment there is no information about carrying out tokensale, all the necessary information will appear in the near future. If you want to know now about the possibility of purchasing tokens, then you need to write to e-mail presale@tokenunion.io.
The project itself is characterized by interesting ideas that can be fully implemented and that is not unimportant - this project should well interest long-term holders of crypto-currency assets that are really ready for HODL. And if the project can properly conduct an advertising and ICO program, what awaits us another turn in the development of the crypto-currency revolution and the ordering of the financial system as a whole. Thank you for your attention friends!
Official site - http://tokenunion.io
White Paper (eng) - https://docsend.com/view/hj4tdrk
Github - https://github.com/TokenUnion/
Twitter - https://twitter.com/tokenunionio
Telegram - https://t.me/tokenunion
Автор: Bitcointalk - lesnik_utsa
Telegram - bullsandbears
ETH: 0xdd5dD6e0933ae626133C55a2395BfEEA2cD77D42
This publication is informational in nature. Article should not be considered as an investment recommendation or advice. Readers of this review article must make decisions based on their own judgments, taking into account financial circumstances, investment objectives and the risk limit before investing funds.