Unifi Protocol, a multi-chain smart contract platform, recently announced the opening of Unifi Labs, an initiative to investigate and create new ideas in blockchain innovation and address the industry’s difficulties. 

Unifi Labs is a new company that has just launched.

In a public announcement last week, Team Unifi launched its new blockchain innovation and development department, Unifi Labs. According to the release, the new effort would collaborate with community members, contractors, consultants, students, and an active open-source developer community to focus on blockchain teaching, research, experimentation, and innovation. Unifi Labs also hopes to serve as a forum for experimenting with blockchain ideas that can be used to the Unifi Protocol and contribute to its development. 

“Unifi Labs is without borders, without limits, and will evolve over time to fit the changing blockchain landscape. Unifi Labs may involve the community to help ensure thorough exploration and testing of new ideas. All Unifi Labs projects, discussions, and ideas should be considered concepts in progress, which may or may not result in future changes to the Unifi Protocol.”

The UTrade V2 Launches With Unifi And IoTeX

Unifi Protocol is on a mission to unite the world’s most popular blockchains into a single DeFi marketplace. Earlier this year, the protocol obtained a development grant from the IoTeX blockchain to give IoTeX users safe, dependable, and on-chain DeFi solutions. Then, in August, the IoTeX network introduced the uTrade v2 to enhance the system by lowering gas expenses and speeding up transactions. Traders and liquidity providers will have a better user experience as a result of this. Unifi’s future initiatives, such as the launch of the uStake, will keep bringing innovative DeFi projects to the IoTeX network. 

Larry Pang, IoTeX’s Head of Business Development, stated

“We believe in a multi-chain future, and Unifi’s commitment and steady progress towards connecting the top blockchains in the industry will drive DeFi innovation for years to come.” 

The SesameSeed Purchase 

Unifi Protocol announced its plans to purchase $10 million worth of SesameSeed assets shortly after the launch of uTrade v2 on IoTeX. Unifi Protocol will acquire a total stake of $13.1 million from the blockchain nodes Harmony, Ontology, Icon, IoTeX, Tron, and Waves as a result of the transaction. Unifi will also buy and rename the aforementioned nodes before adding uStake’s blockchain node staking incentives into its ecosystem. The SEEDGerminator Fund, with a $1 million valuation, has also been gained by the team to fund its development.

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