What is Union (U)? What Does It Aim to Achieve?

Union aims to deliver a secure, fast, and cost-effective interoperability solution for the blockchain ecosystem. It overcomes the centralization, high costs, and performance limitations of traditional bridging systems through zero-knowledge technology. CometBLS provides an optimized consensus mechanism tailored for ZK proofs compared to Tendermint, while Galois generates proofs for 128 validators in just 7 seconds, ensuring a low-cost, censorship-resistant, and decentralized system. Union makes cross-chain asset transfers secure and transparent, supporting the development of DeFi protocols and Web3 applications on a decentralized infrastructure. By enhancing horizontal scalability, Union strengthens Web3’s potential to become a global financial system.

CometBLS and Galois

CometBLS is Union’s consensus mechanism, leveraging Boneh-Lynn-Shacham (BLS) signatures to reduce transaction verification costs. This system supports hundreds of validators and offers resilience against quantum attacks. BLS signatures enable aggregated verification, reducing transaction size and on-chain computation costs compared to ECDSA. The MiMC hash function enhances performance in ZK circuits, further optimized in CometBLS V3. Epoch-based validator rotation minimizes light client updates, boosting relayer profitability and lowering user fees. Future enhancements, such as Verkle Trees, will further reduce proof times and costs.

Galois, Union’s zero-knowledge proof system, is built on three core principles: speed, low cost, and censorship resistance. Using the Gnark zk-SNARK library and gRPC, Galois generates proofs for 128 validators with 5GB of RAM in 7 seconds, enabling proof production on entry-level consumer laptops. This reduces reliance on expensive cloud infrastructure and promotes decentralization. Planned upgrades include Verkle Tree support, formal verification with Lean, and proof caching to minimize redundant work and encourage decentralized sequencer orchestration.

Connections and Channels

Union replaces single-chain connections with multi-connection and channel standards. Direct connections enable single-hop communication, while recursive connections support multiple hops via statelens. Each connection encodes a finality mechanism (e.g., soft or hard finalization on Arbitrum) and security level. Channels support various protocols and operate independently of connection type. This design abstracts complexity for developers and users, making connections function like simple sockets. Union’s Voyager relayer uses finite state machines to ensure data integrity and fast startup times, processing transactions in parallel for enhanced speed and reliability.

Union (U) Tokenomics

The Union token (U) is an ERC-20 token with a total supply of 10 billion and an initial circulating supply of 1,919,050,000. As the network’s native gas token, U serves three primary functions:

• Dynamic Fee Market: Used for proof aggregation, light client updates, and cross-chain operations. Participants can pay higher fees for priority transactions.

• Network Security: Validators and delegators stake U to secure the network and earn rewards. Cross-chain staking supports participation from chains like Ethereum.

• Cross-Chain Governance: U holders vote on parameter changes, validator updates, and protocol upgrades, contributing to governance decisions.

Token Distribution

• Community Incentives: 12% (4% at TGE, 8% for future airdrops and liquidity incentives)

• Ecosystem: 14.1% (40% at TGE, 2-year linear vesting; for developer programs, grants, and partnerships)

• DAO Treasury: 12.5% (12.5% at TGE, 3-year linear vesting; for community-driven governance)

• Foundation: 20% (40% at TGE, 2-year linear vesting; for network development and operations)

• Strategic Investors: 21.4% (1-year cliff, 1-year linear vesting)

• Core Contributors: 20% (1-year cliff, 2-year linear vesting)

U launches with a 6% annual inflation rate, decreasing by 10% yearly until reaching a long-term rate of 2%. Staking rewards for locked tokens are locked for 12 months and managed by the Union Foundation for ecosystem incentives. The Union Staking Vault, integrated with Tower DEX’s U/eU pool, offers 120-140% reward rates through liquidity provision and arbitrage. Users receive vU tokens representing their vault positions.

Union (U) Investors

Union has raised $12 million, with investors including Sandeep Nailwal (angel investor), LongHash Ventures, gumi Cryptos, Borderless Capital, Foresight Ventures, Blockchange Ventures, TRGC, Gate Ventures, Presto Labs, Tioga Capital Partners, Dispersion Capital, LBank, TPC, Ambush Capital, Veris Ventures, AGE Fund, Keplr, CelestineSloths, and angel investors Zaki Manian, Rushi Manche, Michael Heinrich, Anurag Arjun, Ekram Ahmed, Jack Zampolin, Sinan Koc, Jon Kol, Murat Akdeniz, Orkun Kilic, Elias Tazartes, Shane Vitarna, Dean Tribble, and ATOM Accelerator.

Union Team

Union is led by a skilled team:

• Karel Kubat: Founder and CEO

• Cor Pruijs: Co-Founder and CTO

• Abdullah Eryuzlu: Co-Founder and Software Engineer

• Emir Beriker: Co-Founder and Head of Strategy

• Hussein A.: Co-Founder and Principal Engineer

• Ben Luelo: Co-Founder

• Connor Davis: Co-Founder and Engineer

• Sarah Luehrs: COO

• Stephen Gee: CMO

• Smokey the Bera: Advisor

Union leverages zero-knowledge technology to build a secure, fast, and cost-effective bridge between blockchains, empowering the future of DeFi and Web3. Its decentralized and scalable infrastructure supports horizontal scalability and establishes a reliable interoperability standard.

Official Links

• Website
• X (Twitter)
• Whitepaper

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The post What Is Union (U)? appeared first on Coin Engineer.

Token unlocks directly introduce supply to the market and impact prices. Project teams and early investors offload these tokens, and such sales, especially in low-liquidity markets, can trigger sudden price drops. 

Highlighted Token Unlocks 

• LAYER (Solayer): 27 million tokens, valued at approximately $86.73 million, accounting for 13% of the total supply.  
• ENA (Ethena): 171.88 million tokens, worth about $49.52 million, representing 3.1% of the total supply. For instance, on October 2, 2024, the team and investors unlocked 428.38 million ENA tokens, releasing them into the market and adding 22.5% of the total supply to circulation, valued at roughly $165 million. On December 25, 2024, project owners introduced an additional 12.86 million ENA tokens to the market. 
• SPEC (Spectral): 10 million tokens, valued at approximately $21.3 million, comprising 48.5% of the total supply. 
• MOVE (Movement): 50 million tokens, worth about $8.45 million, representing 2% of the total supply. 

Linear Unlocks 

• Solana (SOL): 465,770 tokens, valued at approximately $67.27 million. 
• Worldcoin (WLD): 37.23 million tokens, worth about $5.11 million. 
• Polkadot (DOT), SUI, AVAX, DOGE: Each will unlock over $1 million daily. Dogecoin (DOGE) is also on the unlock list, with 96.5 million tokens worth over $16 million gradually released throughout the week. 

The Donald Trump-linked $TRUMP meme coin will unlock tokens worth $5.49 million daily over the next seven days. This development has raised eyebrows, following claims that the team moved a significant portion of the token supply to centralized crypto exchanges, with some labeling it a potential pump-and-dump scheme. 

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Third-Party Review Underway

According to internal Slack messages obtained by Blockworks, Movement co-founder Cooper Scanlon said the team is still “exploring various routes” of the investigation, with nothing definitive yet. A spokesperson confirmed that an external firm is involved but didn’t reveal its identity.

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Movement said the review is “a standard best practice to ensure full transparency and accountability.”

Co-Founder Manche Takes Temporary Leave

Multiple sources confirmed that co-founder Rushi Manche has taken a temporary leave of absence. He missed the company’s recent San Francisco onsite and was reportedly absent from Slack for a few days.

However, Manche told Blockworks he’s still active and conducting ecosystem meetings, claiming his Slack access was restored by Monday evening.

Binance Offboards Market Maker Over MOVE Token

This situation escalates just weeks after Binance removed a market maker over “misconduct” tied to the MOVE token. Although the exchange didn’t reveal the party’s name, crypto sleuth ZachXBT pointed toward Web3Port. Blockworks’ analysis shows Web3Port had recently engaged with Movement Labs’ content online.

The ongoing investigation marks a pivotal moment for Movement Labs. In a volatile industry like crypto, restoring trust through third-party reviews and transparent communication is crucial. Investors and community members should closely monitor developments as the investigation progresses.

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However, following this surge, a sudden pullback occurred, and the coin is currently trading at $0.53. Although it touched important resistance levels, it couldn’t manage to close above them, leaving room for a potential price retracement.

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We could potentially see a retracement down to the FVG region created during the last surge. With support from this level, we might observe another move towards the $0.555 level. If the FVG region is lost, a further decline could occur, potentially reaching $0.45.

Key levels to watch for MOVE investors:

• $0.55 (FVG region) – Critical support for upward movement
• $0.45 – Potential decline level
• $0.65 – Resistance level

MOVE coin is approaching critical technical levels, with potential for retracement and upward movement from support. However, it’s important to remain cautious about potential breakout points.

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What Is a Buyback and Why Is It Important?

Token buyback programs in the cryptocurrency market are typically implemented to increase token value and restore market confidence. A project’s commitment to a multi-million-dollar buyback program demonstrates its dedication to the ecosystem and can be perceived as a positive signal for investors.

How Did Binance Detect Manipulative Transactions?

After the launch of the MOVE token, cryptocurrency exchange Binance detected suspicious trading activities. The exchange found that the market maker had sold 66 million MOVE tokens while providing low liquidity on buy orders. This led to price suppression and market manipulation.

According to Binance’s analysis, the market maker gained $38 million in Tether (USDT) through these activities. Upon identifying this unfair profit, Binance froze the market maker’s assets and removed them from the platform. Additionally, the details of the incident were reported to the Movement Network Foundation.

This article will also catch your attention: BNB Chain Launches $100 Million Liquidity Incentive Program

Movement Network’s Buyback Strategy

Following these developments, the Movement Network Foundation announced that it had cut all ties with the market maker and would initiate a strategic buyback program to reintegrate the recovered funds into its ecosystem.

These funds will be used for two primary objectives:

• Conducting buybacks to ensure the long-term stability of MOVE tokens
• Increasing USDT liquidity in the ecosystem to maintain market balance

As part of this initiative, the foundation has established a fund called the Movement Strategic Reserve, which will regularly purchase MOVE tokens.

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Key Key Revelations and Details

• SUI (Sui) – SUI 378,060 ($1.07 million) – Market Cap Impact: 0.01
• WLD (Worldcoin) – 3.42 million WLD ($3.73 million) – Market Cap Impact: 0.32
• SEI (Sei) – SEI 5.24 million ($1.30 million) – Market Cap Impact: 0.11
• TIA (Celestia) – TIA 998,404 ($4.16 million) – Market Cap Impact: 0.19
• G (Gravity) – G60.22 million ($1.20 million) – Market Cap Impact: 0.83
• ENA (Ethena) – ENA 2.06 billion ($818.81 million) – Market Cap Impact: 65.93
• JTO (Jito) – JTO 16.41 million ($39.38 million) – Market Cap Impact: 5.48
• BERA (Berachain) – 161 million BERA ($1.35 million) – Market Cap Impact: 0.15%
• MOVE (Movement) – 50.85 million MOVE ($22.82 million) – Market Cap Impact: 2.12
• GMT (GMT Token) – 81.67 million GMT ($4.81 million) – Market Cap Impact: 3.03

Possible Market Impacts

Among the most notable of the upcoming lock openings are ENA (Ethena) and JTO (Jito). Ethena’s opening, representing 65.93% of its total supply, could create significant selling pressure. This is seen as a large opening that could create a serious volatility on the market.

On the other hand, Jito’s 5.48% and MOVE’s 2.12% have a moderate impact. High supply growth may cause prices to fall in the short term.

Lower-impact expansions such as SUI, SEI and TIA may cause slight price movements. However, due to the volume and investor interest in these tokens, they are not expected to create a major selling pressure.

Investors try to anticipate market movements by tracking major token lock expansions in advance. During periods of high selling pressure, volume and trading data should be closely monitored to minimize the impact of openings.

In the coming days, market movements of these tokens should be carefully monitored and measures should be taken against volatility.

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What Did WLFI Invest In?

WLFI continues to diversify its altcoin portfolio with its latest acquisition of Movement (MOVE) tokens. This move highlights the project’s interest in next-generation blockchain innovations and its expansion strategy. MOVE is known for its decentralized finance (DeFi) and innovative blockchain solutions, making it a strategic addition to WLFI’s portfolio. With frequent large-scale acquisitions, WLFI aims to strengthen its market position and reinforce its long-term investment approach.

WLFI’s Crypto Investment Strategy

WLFI continues to expand its portfolio by investing in strong assets such as ETH, WBTC, STETH, TRX, LINK, AAVE, and ENA. Known for its aggressive altcoin acquisitions, the project follows a strategic investment approach, turning market fluctuations into opportunities. Recently, WLFI strengthened its Ethereum position by purchasing 3,247.3 ETH for $10 million at a price of $3,079 per ETH. These moves highlight WLFI’s long-term growth vision and its goal of increasing market dominance.

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Key Levels for Bitcoin (BTC) Intraday

The BTC/USD pair has lost 1.43% in the last 24 hours and is currently trading at $96,797. Bitcoin (BTC) lost support at $98,504, experiencing a slight correction. For a potential rebound, it needs to reclaim the $98,503 resistance level. Key support levels are $91,221 and $89,472.

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Ethereum (ETH): The ETH/USDT pair has dropped 4.38% in the last 24 hours and is currently trading at $2,714. For Ethereum (ETH), key resistance levels are $2,877 and $2,930. Support levels are $2,724 and $2,366.

TRON (TRX): The TRX/USDT pair has gained 0.35% in the last 24 hours and is currently trading at $0.2277. TRX resistance levels are $0.2338 followed by $0.2433. Support levels are $0.2247, with a potential deeper decline targeting $0.2158.

Movement (MOVE): The MOVE/USDT pair has lost 3.83% in the last 24 hours and is currently trading at $0.5896. MOVE resistance levels are $0.6283 and $0.6767. Support levels are $0.5716 and $0.5000 in case of further decline.

Hyperliquid (HYPE): The HYPE/USDT pair has dropped 9.60% in the last 24 hours and is currently trading at $26.001. HYPE resistance levels are $29.076 and $31.881. Support levels are $26.368 and $22.899 in case of a deeper correction.

Trending Coins

In the last 24 hours, the most trending coins in the crypto market include Berachain (BERA), Elon4AfD (ELON4AFD), and Ondo (ONDO).

Top Gainers: XYO Network (XYO), Clearpool (CPOOL), Ultima (ULTIMA).
Top Losers: SWFTCOIN (SWFTC), DeepBook (DEEP), Toshi (TOSHI).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, we see a notable $19.13 million liquidation level at $98,717. On the lower side, a significant $24.85 million liquidation level is observed at $95,799.

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Important Intraday Levels for Bitcoin

The BTC/USD pair has decreased by 0.1% in the last 24 hours and is currently trading at $102,788. Bitcoin (BTC) has broken the $101,545 resistance and moved to a higher range; if it continues to rise from here, the resistance level is $105,766. Support levels are at $102,599 and $101,545.

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Ethereum (ETH): The ETH/USDT pair has lost 1.28% in the last 24 hours and is currently trading at $3,152. For ETH, resistance levels are first at $3,217, followed by $3,290. Support levels are at $3,091 and $2,994.

dogwifhat (WIF): The WIF/USDT pair has gained 13.12% in the last 24 hours and is currently trading at $1.298. For WIF, resistance levels are first at $1.459, followed by $1.565. Support zones are at $1.247, and if the decline deepens, at $1.075.

Uniswap (UNI): The UNI/USDT pair has increased by 7.77% in the last 24 hours and is currently trading at $12.013. For UNI, resistance levels are first at $12.398, followed by $14.023. Support zones are at $11.242, and if the decline deepens, at $10.847.

Ondo (ONDO): The ONDO/USDT pair has risen by 4.08% in the last 24 hours and is currently trading at $1.3961. For ONDO, resistance levels are first at $1.4233, followed by $1.4934. Support zones are at $1.2948, and if the decline deepens, at $1.2269.

Trending Coins

In the last 24 hours, the most trending coins in the crypto market are Reploy (RAI), Venice Token (VVV), and Mochi (MOCHI). The top gainers are XYO Network (XYO), Spell (SPELL), and Movement (MOVE). The top losers are Venice Token (VVV), Solana Swap (SOS), and Toshi (TOSHI).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, the prominent liquidation on the upper side is at the $103,739 level with $30.13 million. On the lower side, the $99,242 level stands out with $24 million.

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Key Intraday Levels for Bitcoin

The BTC/USDT pair has lost 2.68% in the last 24 hours and is currently trading at $93,102. Bitcoin (BTC) has broken the previously highlighted $94,703 support level, undergoing a significant correction. Should it recover, the $94,703 level will act as resistance. Key support levels are $93,138 and $92,503.

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Ethereum (ETH): The ETH/USDT pair has dropped 1.63% in the past 24 hours and is now trading at $3,300. Resistance levels for Ethereum (ETH) are $3,440 and $3,535, while support levels are $3,290 and $3,217.

Neo (NEO): The NEO/USDT pair has gained 5.41% over the last 24 hours and is trading at $15.10. Resistance levels for NEO are $15.80 and $17.05, with support zones at $14.77 and, if further declines occur, $13.55.

Dogwifhat (WIF): The WIF/USDT pair has dropped 13.36% in the last 24 hours, currently trading at $1.60. Resistance levels for WIF are $1.72 and $1.95, while support zones are $1.565 and $1.46 if the drop continues.

Movement (MOVE): The MOVE/USDT pair has seen a 10.90% decline over the last 24 hours, trading at $0.85. Resistance levels for MOVE are $0.925 and $1.02, while support zones are $0.83 and $0.74 for deeper corrections.

Trending Coins

The most trending coins in the market over the past 24 hours include Seedify.fund (SFUND), Butthole Coin (BUTTHOLE), and ai16z (AI16Z). Top gainers are Gas (GAS), Akuma Inu (AKUMA), and Siacoin (SC). On the other hand, the top losers list features ai16z (AI16Z), Swarms (SWARMS), and Fartcoin (FARTCOIN).

Bitcoin Liquidation Map

Looking at the 12-hour Bitcoin liquidation map, significant liquidation zones are:

• $95,340 with a $33.52 million liquidation overhead.
• $92,479 with a $13.21 million liquidation below.

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