Unity Ingot - Ethereum Smart Contract Token Backed By Mining, Bitcoin And Gold

Hey there! I recently stumped upon a brand new token that came out on May. This token grabbed my attention due to it's particular characteristics, being the first one that it's designed for long-term investment and growth. 

This is perfect for my recent decision to invest for long term because I don't want to be stressed looking all day at CoinMarketCap. And as I am pretty sure many of you don't like this as well so this post will be useful for you.

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What is the Unity Ingot?

The Unity Ingot was created from an Ethereum Smart Contract Token. It was designed with the whole purpose of establishing a store of value that is reliable and strong to last for decades. This is done by backing the token with 3 valuable assets which are Bitcoin, gold bullion and crypto currency mining.

As they describe in their webpage their purpose is the following.

 This token was created to be an aggressive store of value. With the world economies in flux and uncertainty, we wanted to provide a token that the world can have confidence in and stand behind without being faint of heart. Thus, the name, Unity!  

Backing Up The Token

The secret to fulfill their purpose of becoming an aggressive store of value that raises overtime lies on the mathematics of their plan. They invest the funds rasied by the sale of the tokens on crypto currency mining. The daily earnings of mining cryptocurrencies are then used to buy Bitcoin, gold and to expand the mining operations.

The earnings of the mining operations are distributed in the following way:

• 50% of the earnings are destined to buy Bitcoin and gold to back the token,
• 15% goes to buying more mining servers and increase the mining operations,
•  15% is used to maintain the market value of the token stable in the exchanges,
• and the last 20% is spent on giving maintainance to the mining facilities.

Mining Operations

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The detalis of the mining operations of Unity are the following.

Currently Unity is connected to three different mining pools for safety and being diversified. They have 500 mining servers that are spread in different locations. The locations of the mining facilities are kept in secret and in places were the electricity is cheap while having good internet connection.

To ensure the greatest return on the operations the mining is planned in a daliy manner. Each day the team will mine the cryptocurrency that offers the greatest amount of return. The ROI of the mining operations is on average 240 days, so from then on there is only profit.

There will only exist 10,000,000,000 Unity Ingot tokens. For each 5,000,000 tokens sold in the exchanges 1 server will be added to the operations. The total amount of the resulting servers will be 2,000 returning $880,000 per month after electricity costs.

As you can see Unity is designed to increase it's value exponentially the more tokens are sold through the exchanges.

Importance Of A Gold-Backed Token

The fact that Unity is backed by Bitcoin and gold is pretty awesome. However the gold aspect is much more important in my opinion. 

As I mentioned above, 50% of the earnings of the mining are used to buy Bitcoin and gold bullion. This is made to create a reserve to back the tokens. The reserve of gold is used as an insurance in case the whole cryptocurrency space collapses, allowing users to be safe with the investment of the token.

Appart from the growth of the mining facilities, the price of both Bitcoin and gold is expected to grow in the next years due to the economic uncertainties of our time. This is traduced to a greater growth of value for the token overtime. In fact Unity estimates 100%+ growth rate each year for early adopters.

Demand Factor

The Unity tokens are issued in groups of 5,000,000, however they will be released to the market only when there is demand for the token. In their webpage they announce the following:

 It is never our desire to hurt our own market by selling the released blocks when there is not enough market support or demand. Therefore, the speed at which the token will grow is at the pace of it’s demand. 

In this way the price of the token is not expected to have significant crashes because they control the amount that is released into the market, and as you remember 15% of the earnings of the mining facilities is used to maintain the value of the token stable in the market.

Conclusion

I must say that I really like the way in which this token is designed. If you are into long-term investment you'll probably like it as well. They seem to have a decent team behind the operations and if they succeed with their plans each token might be worth a lot within a couple of years.

Another good aspect is that the coin is fairly new and is still cheap in the exchanges.

However I believe the biggest threat to the development of this token is the uncertainty Bitcoin will face in the next months. If Bitcoin doesn't split and solves it's governance issues then the token has a great future.

If you want to check out the more technical aspects of Unity Ingot check out their website here.

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