UNION FINANCE ACQUIRES MOAR LABS

TLDR;

• MOAR Labs is being re-integrated into UNION Finance, providing UNION with direct access and control over a full lending venue where it can test and distribute its offerings.
• UNION will continue to offer its products as DeFi primitives to the broader DeFi community, including to existing lending partners.
• Given delays in the rollout of a number of UNION integrations, it is believed this is the most practical way to ensure UNION distribution moving forward.
• Projects will continue to be independent tokeneconomic systems, but a roadmap will be introduced to ensure continuity to a single working model between the two projects. TBD.

UNION TO RE-ACQUIRE MOAR LABS

After careful consideration, UNION Finance has announced that it will re-acquire MOAR Labs. Absorbing MOAR will provide UNION with better coordination and service as a testing ground in order to strengthen UNION’s suite of DeFi protection products. UNION had hoped through its initial divestiture that MOAR would be better positioned independently to service the consideration of UNION’s ecosystem needs; however, given the lifting of jurisdiction concerns and practical considerations in dealing with the accumulation of capital to the MOAR platform, it has become abundantly apparent that a more integrated offering is the best solution for both efforts going forward.

Effective immediately, Michael Beck, UNION Project Lead, will assume the role of Interim Project Lead at MOAR. UNION will gradually take over operational responsibility from the current MOAR team. John Liu, who never drew a salary from MOAR, will be resigning his roles at both UNION and MOAR, but will continue to serve as an advisor to the ecosystem. We are continually thankful and ever-grateful for his gracious and innovative contributions to our efforts.

Over the coming weeks, MOAR will finalize its deployment to Polygon and UNION will launch a U-CDS MOAR Protection Pool. UNION will publish a dedicated article on the U-CDS MOAR Protection Pool once it has been deployed.

UNION will also be deploying a custom oracle to MOAR to help prevent future flash loan attacks. Concurrently, Sanctum will be performing an independent audit of the MOAR code. UNION, as with its other products, is also planning a public bounty to further ensure security of its code. MOAR borrows will be turned on once this new oracle and additional steps have been taken.

MOAR’s acquisition is not foreseen to impact either project’s Q4 2021 Roadmap.

MOAR, originally ULend, started as an internal platform at UNION to test the optimization economics that UNION’s Collateral Optimization (C-OP) could enable. The platform quickly expanded into a reference architecture for other lending platforms seeking to integrate UNION’s offerings. C-OP is a Defi derivative primitive that when integrated with a lending platform, allows a borrower to increase collateral factors to 100%, while also providing a lender the ability to greatly increase TVL with minimal downside.

It became apparent MOAR (being derivative-aware) was a first-of-its-kind platform. Going forward, under the direct supervision of UNION, MOAR will focus its efforts on market-facing strategies that express CORE PRODUCT VALUE:

• Multi-asset: Not only will multiple cryptocurrencies be supported, but also multiple asset types of those currencies. Starting with option asset types in the form of C-OP, MOAR will expand to other derivatives, such as rate swaps, bringing even more TradFi instruments into DeFi.
• Optimized: In a nod to our roots of C-OP (Collateral Optimization Protection), MOAR is about optimizing capital efficiency. The platform is built to be compatible and with consideration for UNION products day-one. The platform seeks to optimize collateral utilization, return streams, gas efficiency, liquidation protection, and more.
• Automatic: Smart contracts have enabled disruptive automation in finance and other industries. However, those automations are still split across different projects that for the average DeFi consumer, make them inaccessible. MOAR leverages composability to create a one-stop, one-click experience for mass adoption.
• Return: Finance is about enabling returns for both people with capital and those seeking capital. People with capital earn income by lending or investing to people seeking capital in order to build new sources of returns. MOAR provides decentralized money-market lending pioneered by projects such as Compound, enhanced with sophisticated financial tooling.

Benefits to UNION and UNN Holders

The acquisition of MOAR unlocks multiple benefits for UNION:

• MOAR expands the ecosystem reach of UNION. The success and sustainability of a DeFi project rests in not just the technical or financial innovation, but also in the size of its ecosystem — the total value locked (TVL), projects integrated, and users. All users of MOAR, and all cryptocurrencies deposited in MOAR, automatically have access to UNION products such as C-OP and UNION’s recently announced Crypto Default Swap. In short, MOAR is an amplifier of UNION products.
• UNION can focus on introducing innovative protection products. The opportunity of DeFi Protection is massive and UNION has an ambitious portfolio of products in its pipeline. With the reintegration of MOAR, resources of UNION can concentrate on realizing these products, without partner timelines and coordination overhead peripheral to UNION priorities. MOAR will provide the testing-ground and help push innovation on the lending front.
• Continued support of existing partners and integration commitments under new model. Projects will continue to be independent tokenomic systems, but a roadmap will be introduced to ensure continuity to a single working model between the two projects. TBD.

More Information:

Website: https://www.unn.finance/
Twitter: https://twitter.com/unnfinance
Telegram: https://t.me/UNNFinance
Telegram ANN: https://t.me/UNNFinanceANN

Disclaimers:

• This announcement is for informational purposes only and is not an offer to participate.
• Never send virtual assets to a smart contract you cannot afford to lose. This announcement does not constitute financial advice.
• UNION is not an insurance company and UNION does not sell policies of insurance.
• UNION is not an issuer of CDOs.
• We are in rapid development phase, and the screens may or may not look like these in final product. Some of the numbers shown are placeholders.