Unitas Protocol Launches Second Phase on Mainnet, Introducing Insurance Provider and 4REX Token

TAIPEI, Sept. 18, 2024 /PRNewswire/ -- Unitas Foundation announced today that the second phase of Unitas Protocol is now live on the mainnet. This phase introduced insurance providers (IPs) who will lend their USDT to the Unitas Protocol to support its over-collateralization. Concurrently, the 4REX tokenomics system has begun its operations, including auctions, profit sharing, and IP-related benefits.

"This milestone completed the first iteration of the Unitas stablecoin ecosystem— a  USDT-backed unitized stablecoin mechanism," said Sun Huang, Co-founder and Chief Technology Officer of Unitas Foundation. "Now, anyone can 'unitize' USDT into one local currency unit, including USD91 (INR-pegged), USD971 (AED-pegged), USD84 (VND-pegged), and USD1 (USD-pegged) with the over-collateralization provided by IPs."

The concept of reserving USDT as a store of value while dealing in the local unit of account is designed to address dollar shortages in emerging markets, improving both transactions and cross-border payments.

"We are thrilled to complete the USDT-reserved Unitas system," said Wayne Huang, Co-Founder and Board Director of Unitas Foundation. "The real-world applications in developing countries will be the main focus of the next stage. Meanwhile, our team is building the second Unitas ecosystem which will be backed by Tether Gold (XAUt). The transition from USD to Gold represents an exciting development for the stablecoin movement, and we are pleased to collaborate with Tether, the world's largest stablecoin issuer on this project."

Unitas Foundation, Tether, and XREX Group, a blockchain-enabled financial institution, will work together to launch XAU1, a USD-pegged unitized stablecoin over-reserved with XAUt, providing customers with a stable alternative and a hedge against inflation.

Unitas Foundation will unveil more exciting details at the second edition of the Stablecoin Summit, held on 20 September at Andaz Singapore as a side event of TOKEN2049.

About Unitas Foundation

Unitas Foundation is a non-profit organization founded in 2022. Unitas Protocol operates exogenously over-reserved stablecoins pegged to emerging market currencies. These stablecoins unleash emerging market potentials by facilitating foreign investment, cross-border payment, global market access, DeFi participation, efficient USD liquidity, and more.

To learn more about Unitas Foundation, visit its official website, Wiki, Telegram, X (formerly known as Twitter), blog, or email team@unitas.foundation.

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** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Unitas Protocol Launches Second Phase on Mainnet, Introducing Insurance Provider and 4REX Token

JINAN, China, Sept. 19, 2024 /PRNewswire/ -- This is a report from the Shandong Office of Hong Kong Business Daily. Intangible cultural heritage is like a clear spring, crossing the long river of history and nourishing every corner of this city, becoming a cultural bond connecting the past and the future. With the in-depth exploration of the documentary series "Encountering Jinan", we have welcomed the second issue - Intangible Cultural Heritage of the People. This time, we will follow in the footsteps of French student Elaine to explore the intangible cultural heritage treasures hidden in the daily lives of the people, and feel their charm and warmth that transcends time and space.

Shadow puppetry is not only a cultural calling card of Jinan, but also a crystallization of the wisdom and creativity of the people of Jinan. For centuries, it has attracted the attention of countless people with its unique artistic form and rich cultural connotations.

Under the introduction of Ms. Li Juan, the inheritor of intangible cultural heritage, the long history and cultural charm of Jinan shadow puppetry deeply touch the hearts of every explorer. Gently pulling the joystick, the shadow puppetry jumps and flips in her hands, and every movement reveals the exquisite skills and deep emotions of the shadow puppeteer. Elaine also deeply experienced the ultimate pursuit of skills and respect and inheritance of tradition in the intangible cultural heritage of shadow puppetry through personal experience.

As soon as they stepped into the hall of cross-talk, laughter and joy flooded in like a tide. The cross-talk masters stood on stage, telling humorous and witty stories with their heroic and delicate performance styles, allowing the audience to feel the ups and downs of life through laughter. Elaine was fortunate enough to have face-to-face communication with the master of cross-talk, Yan Dong. She learned a few simple jokes and, under Yans guidance, gradually understood the profound traditional culture and strong human touch behind cross-talk. These seemingly simple language fragments are actually a profound insight and embodiment of wisdom from the people of Jinan towards life. From exquisite shadow puppetry to humorous cross-talk performances, from delicate Lu embroidery techniques to authentic Jinan snacks, every intangible cultural heritage skill is the crystallization of the wisdom of the people of Jinan, their pursuit of beauty and love for life.

Video: https://youtu.be/Fxzt9is6pVE

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

The second issue of the documentary series "Encountering Jinan" - "Intangible Cultural Heritage of the People"