There are 3 things you can watch forever: a water flow, a quack of a lovely duck, and a burn of $70 million. Tokens burning is complete.

https://etherscan.io/tx/0x75303111531e6c2d71a4ac9b4e85b29326e3a04081d29fd38eb0a4d33582e11a

We are happy to share that we have finished integrating the Keep3rV1 oracle solution, and now it will be used for all current token CDPs. It reduces the price of opening CDP for users to only $4(20 Gwei)! This is quacking awesome. Try it right now https://app.unit.xyz/

Quackonomy update
As you may see in the updated dapp https://app.unit.xyz/, there are no requirements to deposit COL as additional collateral. Now you can mint USDP with selected collateral in just a few clicks. It significantly simplifies user experience and allows the Unit protocol to grow much faster. But what's about the token economy?
Unit protocol collects stability fees and liquidation fees, which will be distributed into the COL token ecosystem.
During the first year, 100% of all fees will go to the protocol ecosystem directly.
We propose 2 efficient ways how to relocate it to protocol token holders:
— use fees to buyout COL from the open market and burn it. 70% of total fees
— distribute fees to governance pool stakers. 30% of total fees
The governance pool will play a significant role in Unit Protocol decision-making system and add stability to the system, so it is essential to incentivize COL stakers and help them be involved in the voting process. We are working on the governance pool, but the infrastructure is not ready yet.
Before the moment when it is operational, all the allocated fees will be used to buyout COL from the open market and burn it. After the governance pool is ready, part of those fees (30%) will be distributed amount stakes. Future changes in governance pool part of fees proportion will be subject to governance decisions.
We think it will help Unit protocol userbase grow faster, and eventually, the total amount of fees distributed to token holders will increase. It will provide better adoption, security, and utility of Unit protocol.

We take care of our community's safety and put many resources to prevent any mistakes in contracts. There is no risk for funds in the Unit protocol, and the COL token is safe. Everything works as planned so far.

We have reviewed the community proposal (Pink Duck: An implementation for vastly superior memonomics and quackonomy) and found a critical bug in it: https://github.com/banteg/pink-duck/blob/master/contracts/Duck.vy#L60-L63

There is a vulnerability in the contract Duck.vy
The attack vector is provided below
1. User deposits his total COL balance to Duck.vy contract calling quack_quack function and receives divided by 100 amount of DUCK's
2. User transfers the minted DUCK's to another address leaving 1e-18 DUCK's on his balance
3. User withdraws previously packed COL amount calling pussy_out function, the contract burns the dust of DUCK on the user's balance
The packed COL is redeemed for the dust of DUCK
All of the previously minted DUCK's stays on another address except the burned dust.

We can't risk compromising our users' safety, and soon we will make the community vote about token rebranding. Be good duck - be alive duck. Stay quacking safe.

We are ready for community vote about Unit protocol ticker. You can vote with a snapshot of your balance here. No need to send any transactions, you will need just to sign the vote.

https://snapshot.page/#/unitprotocol.eth/proposal/QmYSRbD3YFFasDwLLpBeU7B8eMnCcc6YDhFb2XpNvw69gB

We have the first community initiated vote about the token split ratio. You can vote here: https://snapshot.page/#/unitprotocol.eth/proposal/QmaqKLBF43a9DuNXqVs7aY5GpQ28PWgz3sWo6Va5FpEJ8p

Recently 2 community votes have been finished https://snapshot.page/#/unitprotocol.eth . We are ready to publish the result of the Ticker vote. 105 people participated in the voting and 87.06%(2.43 billion $COL tokens) voted for migration to the $DUCK ticker. Also, the community voted for the split, total supply will decrease 100 times. COL will be swapped to DUCK 100:1, for 100 COL you will get 1 DUCK. We will prepare everything necessary for smooth migration and publish instructions in the upcoming days.

Be careful, there is no DUCK token yet. We heard many projects try to copy DUCK, don't get scammed.😉

Quackers gonna quack.

Now you can mint USDP for UNI, AAVE, COMP, SNX, LINK, UMA, renBTC, HEGIC, and their LP Uniswap ETH pairs. With this update, you can also use the COL-ETH Uniswap LP token as collateral. Also, we increased limits for every asset. Full list of available collaterals and limits you can find here.

We are happy to announce that the migration app is ready https://migration.unit.xyz/ . You can swap your $COL to $DUCK here. For 100 COL you can receive 1 DUCK. Legit DUCK token contract is https://etherscan.io/address/0x92e187a03b6cd19cb6af293ba17f2745fd2357d5 (don't send your tokens there, use dapp). No need to hurry up.

We are happy to announce $DUCK listing on Gate.io https://twitter.com/gate_io/status/1338434644581232642

We want to announce about team tokens' plans: all team tokens will be locked for 5 years with linear unlock. The lock contract will be deployed within a month. We will announce when everything is ready. Smart duck - long-term quack.

Unit Protocol core token $DUCK is fully integrated in app.unit.xyz . Now you can mint $USDP with the most quack collateral 🦆

Trustwallet, WalletConnect, MEW is now available in the migration app https://migration.unit.xyz/

Now main dapp
https://app.unit.xyz/
and migration dapp
https://migration.unit.xyz/
have mobile interfaces. You can use Unit protocol directly from your phone😉

To balance the peg, we have updated stability fees and make it market average. We have also updated some risk parameters, such as the Initial collateral ratio, to make them less strict. For DUCK token, now you can mint USDP up to 49% of collateral value, but be careful and control your risks.

We have created the proposal to add USDP Metapool in the Curve ecosystem and need our awesome community support. If you have some locked veCRV, you can vote "For" here: https://signal.curve.fi/#/curve/proposal/QmTFhJtP1s2WvW32EuQaGzDuWuypD5y6yiJW7y2H1Hqhwo

And here you can see the full text of the proposal: https://gov.curve.fi/t/scip-26-add-a-usdp-tripool-metapool/1301

Hey folks 🦆
We are happy to announce that Unit Protocol smart contracts have been audited by Level K (https://www.levelk.io). You can read the audit report below.

SushiSwap LP ( https://sushiswap.fi ) tokens are integrated as collateral in Unit Protocol. Now, if you stake tokens in SushiSwap and need short-term liquidity, you don't need to withdraw base tokens from a liquidity pool and sell them. Instead, you can directly use the SushiSwap LP tokens to mint USDP (https://app.unit.xyz). It will let you avoid some gas expenses and still provide the opportunity to keep collecting trading fees for the pool.

Unit protocol liquidation DApp is now live.
https://liquidation.unit.xyz/


Unit protocol is a decentralized borrowing protocol that allows you to mint USDP stablecoin using a variety of tokens as collateral.
https://app.unit.xyz/