Unit Protocol
DUCKDecentralized collateralized lending protocol
Performances
RD Popularity Index
RD Growth Index
Comparison
Top Holders
| Address | Token | Quantity | Percentage | Value |
|---|---|---|---|---|
| Null: 0x000...dEaD (dead) |   DUCK | 391,433,165.4 | 38.42% | -- |
| 0x48dd...bce3 | DUCK | 108,763,817.3 | 10.67% | -- |
| Gnosis Chain: ETH-xDAI Omni Bridge (5671) | DUCK | 98,320,254.8 | 9.65% | -- |
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About Unit Protocol
Unit Protocol is a collateralised debt position lending protocol deployed on Ethereum in late 2020 that let users mint a dollar stablecoin against more than 160 ERC-20 assets, including liquidity tokens, with DUCK as governance token. It targets holders of long-tail tokens and liquidity receipts who need dollars without selling, collateral that mainstream lending markets reject. The design uses overcollateralised vaults, oracle pricing and a stability fee, with a Dutch-style linear discount auction once debt crosses the liquidation line; repayment burns the stablecoin and supply expands and contracts with debt.
Auction-based liquidation rather than a fixed discount reduces cascading sell-offs in thin collateral, at the cost of liquidation speed depending on bidder interest. The repository has had no commits since December 2023, the stablecoin has long traded near five cents, quoted at $0.05 in July 2026; the original domain is listed for sale with no protocol entry point, and while contracts remain callable on mainnet there is no maintained front end.
Positive: In August 2026, Unit xyz used Coinbase Prime funds to buy $15 million worth of HYPE via a TWAP strategy, bringing total staked amount to 1 million HYPE (approx. $80 million) for launching HIP-3 and HIP-4 staking mechanisms, showing long-term commitment to the Hyperliquid ecosystem and increasing market demand for the token.
Negative: In September 2026, Unit Labs unstaked and transferred 500,000 HYPE to a new wallet, raising concerns about potential selling pressure.
Unit (formerly Unit Protocol, now Unit Labs) and Hyperliquid Strategies announced on May 7, 2026 the launch of a validator named Hyperliquid Strategies x Unit on Hyperliquid, expected live around May 11, running on institutional-grade infrastructure with HYPE custodied by HSI's treasury forming the majority of initial stake.
Unit Protocol's Future strategy and roadmap: Strategically, Unit aims to bring the world's most important markets on-chain and expand Hyperliquid's asset layer, expanding bridging of native BTC, ETH, SOL, and multichain tokens while strengthening validator decentralization and network security.