UNION’s ULend spins-off as MOAR
We are thrilled to announce the spin-off of the ULend prototype as a sister project of UNION and will be rebranded as MOAR : Multi-asset Optimized Automatic Return.
ULend is rebranded as MOAR and will donate a portion of its tokens back to UNION foundation.
MOAR will offer UNION products from day 1, starting with C-OP, serving as a powerful driver of UNION products and value into the UNION ecosystem.
John will serve as project lead of MOAR and continue as UNION’s CPO under UNION project lead Michael Beck
ULend becomes MOAR
ULend started as an internal platform to test the optimization economics that C-OP could enable. The platform quickly expanded into a guide for other lending platforms to utilize C-OP. In the past few weeks, it became very apparent in our discussions with other projects that ULend (being derivative-aware) was a first-of-its-kind platform that is strong enough to stand as its own project pushing the boundaries of DeFi adoption.
After much consideration, the foundation decided to spin-off ULend as a sister project, known as MOAR (Multi-asset Optimized Automatic Return).
- 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 1. 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.
With the initial heavy lift of product definition done, CPO John Liu will lead the MOAR team. He will continue to serve UNION as CPO, advising Michael Beck and ensuring that MOAR roadmap is optimized for UNION’s upcoming products, and vice versa.
Benefits to UNION and UNN Holders
The spin-off as 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 spin-off, resources of UNION can concentrate on realizing these products, while MOAR pushes innovation on the lending front, driving value back to UNION.
As a sister project, MOAR will operate with a tighter level of collaboration with UNION than other projects, ensuring that the success of one benefits both. Considerations include:
- A portion of MOAR tokens will be donated to UNION, to be held in reserve by UNION. These tokens will follow the same vesting schedule of MOAR team tokens (12 month cliff with an additional 12 month vesting schedule). In addition to tokenomic benefits, UNION and holders of UNN by proxy, will have a voice in the governance of MOAR.
- MOAR will offer incentives for holders of UNN, in the form of optimized borrow factors, lower charges, and joint Geyser rewards.
Details of these considerations and timing of MOAR launch will be announced in the coming weeks. Stay tuned!
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- 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.