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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Unitas Protocol Launches Second Phase on Mainnet, Introducing Insurance Provider and 4REX Token
New Development to Accommodate 180 Yachts, Including Vessels up to 90 Meters
JAKARTA, Indonesia, Oct. 14, 2024 /PRNewswire/ -- PT Marina Development Indonesia (MDI) and Pelindo are excited to announce the groundbreaking of Indonesia's first international-standard full service marina. This milestone project represents a significant leap forward in the country's maritime tourism and infrastructure. The marina will be able to accommodate 180 wet berth, including more than 50 superyachts up to 90 meters in length. It will have a modern yacht service area equipped with a travel lift capable of handling up to 200 tons and a high-quality fuelling station. The development is poised to deliver world-class facilities, further positioning Indonesia as a premier destination for maritime activities.
"Indonesia deserves a first-class marina that reflects its status as the new yachting paradise of the world," said Ulf Backlund, President Director of Marina Development Indonesia. "Indonesia's distinctive location, safely positioned outside hurricane and typhoon paths, combined with its 17,000 islands, spectacular diving locations, diverse languages, cultures, and favourable weather all year long, makes Indonesia the ideal location for such a development. This marina will attract global yachting enthusiasts and open up for exploring Indonesia's natural beauty in the biggest archipelago in the world."
The new marina, strategically located in the Bali Maritime Tourism Hub (BMTH) in Benoa, just 15 minutes from the airport, is set to become the region's premier yachting hub, serving both international and domestic yacht owners.
The marina's design and facilities will adhere to the highest international standards, focusing on sustainability and environmental preservation. Yacht owners and visitors can look forward to an array of premium amenities, including a prestigious yacht club, modern yacht service station, fuelling station, offices and dining outlets. luxury hospitality options, entertainment and commercial areas with extensive retail.
"The new marina in Bali embodies our vision to position Indonesia as a key player in the global maritime industry, combining luxury experience, services, safe and world-class infrastructure," said Arif Suhartono, President Director Pelindo.
"The marina will not only attract international yacht owners but also provide an exceptional home base for domestic vessels, contributing to the growth of Indonesia's tourism and economic sectors," added Joko Noerhudha, President Director Pelindo Solusi Logistik.
Most notably, the new marina in Benoa is a key initiative in stimulating local economies by creating employment opportunities, promoting tourism, and cultivating a lively yachting community. With construction already underway, the new marina is scheduled to welcome yachts to the first dock second half of 2025. Full yacht capacity is planned to be in place by mid 2026.
About Marina Development Indonesia
Marina Development Indonesia (MDI) specializes in transforming waterfronts into world-class marina destinations. MDI offers comprehensive services across Indonesia, including marina development, operations, and consultancy. With a team of local and international experts, the company is dedicated to supporting Indonesia as a premier yachting destination. MDI partners with top international marina developers like SF Marina, Plus Marine and Discover Luxury Indonesia, which focus on creating safe, exclusive marina environments that provide strong investment returns. www.marina-development.com
About PT Pelabuhan Indonesia
PT Pelabuhan Indonesia (Persero), commonly known as Pelindo, is a state-owned enterprise that oversees and manages ports throughout Indonesia. It offers detailed information on port services, logistics, and infrastructure development, aiming to foster maritime trade and support the country's economic growth. www.pelindo.co.id
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
PT Marina Development Indonesia and Pelindo have signed a contract for Indonesia's First Full-Service Yacht Marina with International Standard
