Proposal Discussion - Crypto’s S&P500, a Decentralized Benchmark

We believe that a currency can never achieve the status of Universal Currency, but a pure unit of value can. We are building that unit of value: The Unit.

We are creating a crypto-native community-managed indexed unit of account to replace “stable coins” in the long term. Currently, we use The Unit to benchmark portfolios. Later we will also launch a gamified fund pegged to The Unit.

Defi projects now use USD as the unit of value. However, USD is a fiat currency foreign to our space. So why are central banks’ currencies continuously used as a measure of value even in our space?

Right now, USD is the glue that brings all projects together. But should a closed source currency be the focus of our attention? We think it shouldn’t. Instead, an indexed unit of value that’s not a currency is needed to unite all of our networks.

Even though there will be a The Unit DAO aiding the development of The Unit, The Unit will be able to be replicated and maintained by everyone. The Unit is an index including the most significant portion of the crypto market. Our newly redesigned website, https://www.theunit.one, describes what we are doing in more detail.

We propose a token swap to help fund the development of The Unit and tighten our partnership. We can discuss the details of the token swap below. You are also able to join the whitelist for our IDO here The Unit.

Benefits to COMP hodlers:

  1. COMP holders participating in this proposal will receive an airdrop from The Unit governance.
  2. Compound governance will be swapping tokens with an earlier stage project like ours, opening itself for potential gains.

Join The Unit Community through our whitelist page: The Unit