What is UNION Protocol Governance Token?
The UNION Protocol Governance Token (UNN) is the governance token of the UNION platform, a technology platform designed to provide risk management solutions for decentralised finance (DeFi) participants. UNION combines bundled protection and a liquid secondary market with a multi-token model, aiming to make DeFi more accessible and secure for both retail and institutional investors.
How does UNION Protocol Governance Token work?
UNION operates on the Ethereum blockchain and leverages its governance token, UNN, to empower community participation in protocol decision-making.
Key features include:
- Multi-layer risk management: Protects DeFi participants by managing risks across smart contracts and protocols.
- Bundled protection: Offers comprehensive solutions to address multiple DeFi risks within a unified framework.
- Liquid secondary market: Enables trading and liquidity for risk management products.
- Governance: UNN token holders influence decisions regarding protocol upgrades and operations.
The platform utilises smart contracts to ensure transparency and efficiency in governance and protocol operations.
What are the potential use cases for UNION Protocol Governance Token?
Applications:
- Governance participation: UNN token holders vote on protocol upgrades and changes.
- Risk management: Provides tools and solutions to mitigate risks in DeFi environments.
- Ecosystem development: Supports the scalability and functionality of the UNION protocol.
Industries:
- Decentralised Finance (DeFi)
- Cryptocurrency
- Risk management
What is the history of UNION Protocol Governance Token?
Key Milestones:
- March 20, 2021: Reached an all-time high price of $0.1259.
- September 4, 2024: Recorded an all-time low price of $0.0001296.
UNION Protocol Governance Token plays a critical role in improving the security and accessibility of DeFi by offering innovative risk management solutions and enabling community-driven governance.