Welcome to the inaugural State of the UNION issue. This biweekly (that is, every two weeks, not twice every week) will recap the happenings across all UNION’s layers (technical, partnership, social, etc.). It may be long, short, forward looking, or backward looking but its purpose remains the same: provide transparency.

Prepping the Geyser

As shared on December 3rd, UNION will distribute all 50 Million UNN tokens that were originally set aside for the token sale as rewards for Uniswap liquidity providers of UNN/ETH.


With UNION’s first and revolutionary product, C-OP, successfully deployed to mainnet on May 5th and pool opened on May 6th, UNION has completed an important milestone.

This past week has been an eventful one indeed for UNION and its community.

On May 5th, C-OP contracts were deployed onto Mainnet:

  1. C-OP USDC/ETH Asset Pool: 0xf330951BD4FcFE714558f7Ca84357B04d8408048
  2. Protection Token (uUNN): 0xEB7D9d972788Bc942c509859c55Fd33B185E41A8
  3. Pool Token (pUNN):0xf330951BD4FcFE714558f7Ca84357B04d8408048
  4. app: https://c-op.unn.finance/

The team then did additional security checks overnight before opening the USDC/ETH pool front-end on May 6th, coordinated with our Chainlink integration announcement.

UNION tested liquidity adds, protection purchases, and validated that UNION’s risk control correctly prevented…


UNION is delighted to announce our partnership with Curvegrid, a MultiBaas blockchain middleware platform for developing dApps between multiple blockchains using a familiar REST API. UNION will provide bridging protection for a cross-chain bridge to Binance Smart Chain (BSC) using Curvegrid’s multi-blockchain platform, and tap into Curvegrid’s suite of enterprise tooling to build, explore, and manage smart contracts relevant to UNION’s products on various blockchains.

“Curvegrid has a true expertise and understanding of reasonable, yet effective, abstractions for gaining technical leverage across multiple distributed ledger technologies,” says Michael Beck — UNION’s Project Lead. “They carry these abilities to their work…


UNION, the DeFi protection protocol, is thrilled to announce our integration of Chainlink on mainnet to calculate pricing and risk parameters for our collateral optimization product (C-OP), solvency capital requirement (SCR), and minimum capital requirement (MCR) protection pools. By sourcing data through the industry-leading decentralized oracle network, Chainlink enables UNION users to get strong assurances that coverage risks are accurately measured and the solvency of capital pools is securely maintained.

UNION will begin by integrating the following Chainlink Price Feeds: ETH/USD, BTC/USD, DAI/USD, and USDC/USD. These decentralized price oracles will be referenced by UNION smart contracts during SCR and MCR…


With C-OP going live on May 5th, we now share our plans for increasing liquidity in the first pool C-OP ETH and for having UNN holders share in the success of the project.

TLDR

UNION Geyser for C-OP Liquidity Providers: 5 Million UNN over 90 days.

UNN C-OP Reserve Fund Shared with UNN Holders: 100% for first 90 days, 50% after 90 days, and 10% after 180 days.

C-OP Liquidity Provider Geyser

In addition to the premiums received from C-OP protection buyers, UNION will enhance rewards for the early liquidity provider through a Geyser program:

Reward Amount: 5 Million UNN tokens

Program Length : 90…


UNION is delighted to announce that David Namdar, GP at Coral Capital and CEO of NFT.com, is joining UNION’s growing advisory team. David brings a wealth of high-profile experience to UNION’s project vision with a background spanning entrepreneurship, international business development, venture capital, derivatives, foreign currencies, and investing in the cryptocurrency and DeFi market.

“The rapid growth in the DeFi space has exceeded many expectations in a short period of time, and the solutions that UNION is providing will be essential to address the new risks that come along with new markets, as well as bridging the decentralized world with…


TLDR

UNION’s public bug bounty program for C-OP begins today at 12pm US Pacific Daylight Time (UTC-7), April 26th, 2021.

As part of the process, bounty hunters will work directly with C-OP code on the ImmuneFi network to identify critical vulnerabilities.

Initial target of 5 days for initial identification and remediation. PRODUCTION LAUNCH OF C-OP WILL COMMENCE ON BASIS OF VOLUME AND QUALITY OF PUBLIC AUDIT FEEDBACK.

Defects confirmed and addressed by the team will be logged and reported to the community.

UNION has developed C-OP as a mechanism to make DeFi less risky and less expensive. We have completed…


Today UNION is announcing its partnership with Mattereum, the Ethereum-based digital provenance platform of physical goods. As part of upcoming work together, Mattereum will provide asset protection to Mattereum Asset Passports, an authentication mechanism that will initially verify the authenticity of physical memorabilia, collectibles, and other goods requiring blockchain-based provenance tracking.

UNION will allow for future asset protection for NFTs issued on Mattereum that will protect purchasers from issues of provenance and authenticity associated with the underlying real-world goods asset passports represent. …


A very short update this week as team has been heavily engaged with auditors.

C-OP: Audit Changes + Live Bug Bounty

The team received and addressed all changes recommended from both Sanctum and external auditors last week. We are wrapping up final questions from the auditors, as C-OP is moving closer to production.

In taking these next steps, we have organized an “in the wild” audit, in the form of a bug bounty program. Coordinated in conjunction with Sanctum and an external vendor, the bounty program will launch this week, and continue into the first month of our live deployment on mainnet.

Details will follow shortly.

U-CDS

Testing…


UNION is pleased to announce the onboarding of our newest advisor, Bill Yialamas. Bill is an experienced executive with over 20 years of experience in banking, structured finance, consumer lending, and venture capital.

Bill is currently the Co-President and CFO of Liberty Lending — a leading fintech platform for personal loans — and is a Partner at Common Ocean, a hybrid VC firm based in New York City. Prior to his current roles, Bill performed roles at major investment banks including UBS, Deutsche Bank, and Lehman Brothers. Bill holds a Bachelor’s degree from Columbia University.

Bill’s wealth of experience in…

UNN Finance

Building a set of tools to create a complete ecosystem, specifically designed for DeFi

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