DeFi stablecoin protocol, Unitas, has made strides with the successful deployment of its testnet on Sepolia on July 17, 2023. Following an extensive security audit carried out by Sherlock, a leading smart contract coverage protocol and audit marketplace, the testnet is now open for participation.
Any minor issues that arose during the audit competition have been diligently addressed. To partake in the Unitas Protocol testnet, users can join the dedicated Unitas Testnet Telegram Channel to receive test tokens. The mainnet is scheduled for launch on July 31, 2023.
As a commitment to the highest standards of security and stability, the Unitas Foundation collaborated with Sherlock to organize a public smart contract audit competition. This contest saw active participation from over 200 global security professionals, making it a significant engagement for the Web3 security communities.
Unitas' Co-founder and CTO, Sun Huang, stressed the importance of a security-first mindset in the Web3 space. He believes that the high standards upheld by Unitas will ensure the protocol's ability to serve emerging markets with its unitized stablecoins like USD91, USD971, USD84, and others.
The Unitas team expressed gratitude to Sherlock, and Lead Auditors, weiss.eth and ctf_sec, for their invaluable support throughout the smart contract audit process. With the successful completion of the security audit, the team is ready to move forward with the mainnet launch and invites everyone to partake in the testnet, currently available only on desktop.
Unitas Protocol introduces a novel category of stablecoins called unitized stablecoins, which serve as Units of Account representing emerging market currencies. Users of Unitas stablecoins can enjoy ease of transaction and efficiency, especially those who are comfortable with emerging market currencies and price quotes. Unitas Protocol is essentially a value translator between USD and other currencies, guaranteeing that each Unitas stablecoin can unconditionally convert back to a USD stablecoin.
