UNION Finance to Deliver Protection and Lending Services to IoTeX Community

UNION Finance is thrilled to announce its partnership with IoTeX, the fastest, most secure and scalable blockchain platform on the market, specializing in IoT, GameFi, and MachineFi applications. The IoTeX platform hosts an ever-growing ecosystem of projects and products that have been developed to take advantage of this blockchain’s unique abilities. Its award-winning research and technology currently leads the world’s premier industry consortiums and standards bodies. With the support of the IoTeX team, UNION will deploy its protection and lending services on the IoTeX chain for broad availability to the IoTeX community.

UNION’s deployment of its Collateral Optimization (C-OP) and Smart Contract Protection (SCP) and Crypto-Default Swap (U-CDS) offerings, in conjunction with MOAR Lending Platform are expected to bring IoTeX community the following advantages:

• Borrowing 1:1 instead of 40% — 80% of collateral value when using ETH , BTC, DOGE and other digital assets.
• Protection against falling asset prices using UNION’s C-OP.
• Protection from smart contract hacks, economic exploits, and malicious actors using UNION’s SCP/U-CDS offerings.

Additionally, UNION will work with the IoTeX team to develop specialized versions of UNION Crypto Default Swap (U-CDS) architecture to support parametric policies triggered by the IoTeX Pebble.

The IoTeX Pebble is a decentralized asset tracking device built in partnership with Nordic Semiconductor, one of the world’s largest chip manufacturers. Pebble collects, cryptographically signs, and transmits real world data directly to the blockchain in a verifiable fashion for use in smart contracts.

Pebble is perfect for developers looking to use real world data in blockchain smart contracts. Pebble’s built-in security features, cellular connectivity, diverse sensors, are reinforced by built-in security hardware, cellular-IoT connectivity and Bosch sensors and ThingsBoard industry-leading data visualization.

“We are delighted to welcome Union to the IoTeX ecosystem. The intersection of real world machine data from IoTeX and on-chain parametric protection markets from Union will spark exciting new MachineFi use cases that will expand what is possible with Web3,” shared Larry Pang, Head of Ecosystem at IoTeX.

By integrating UNION’s suite of bundled protection products, IoTeX will increase security across multiple protocols and incorporate protection in both technical and economic risks.

“We’re really excited to bring UNION’s protection and lending offerings to the IoTeX blockchain. Work with IoTeX brings many unique opportunities and opportunities for partnership that come from their strong focus on MachineFi and GameFi,” said Michael Beck, UNION’s project lead.

IoTeX:

Website: https://iotex.io/

Twitter: https://twitter.com/iotex_io

Youtube: Whiteboard Crypto Channel

Union Finance:

Website: https://www.unn.finance/

Twitter: https://twitter.com/unnfinance

Telegram: https://t.me/UNNFinance

Telegram ANN: https://t.me/UNNFinanceANN

Disclaimers

1) 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.

2) UNION is not an insurance company and UNION does not sell insurance policies.

3) UNION is not an issuer of CDOs.

4) We are in a rapid development phase, and the screens may or may not look like these in the final product. Some of the numbers shown are placeholders.