UniPower (symbol: POWER) is a decentralised finance (DeFi) token and social experiment designed around the concept of a fully liquidity-based token model. It is the first token to utilise a Proof of Liquidity (PoL) mechanism, with its entire fixed supply of 1,000,000 tokens added to Uniswap's liquidity pool at the time of launch. UniPower aims to explore new models for token distribution and liquidity provision while addressing challenges in creating sustainable and fair token economies.
UniPower operates on the Ethereum blockchain as an ERC-20 token. It inherits Ethereum's consensus mechanism, which is transitioning from Proof of Work (PoW) to Proof of Stake (PoS). Its design eliminates the ability to mint additional tokens, ensuring a fixed supply. UniPower relies on its liquidity-based model to drive value, with its tokens primarily traded and utilised within the Uniswap ecosystem. While specific details on its smart contracts are unavailable, its functionality is integrated with Ethereum's DeFi infrastructure.
UniPower has several use cases within the DeFi ecosystem, including:
These use cases primarily target the decentralised finance, cryptocurrency trading, and blockchain R&D sectors.
UniPower was launched on June 3, 2020, as a social experiment exploring fully liquidity-based DeFi models. Its defining feature at inception was the addition of 100% of its token supply to Uniswap liquidity, a significant milestone for the project. Though little information is available regarding updates or partnerships, the project has influenced other DeFi initiatives, such as Growth DeFi, through its innovative approach to liquidity provisioning and token sustainability.