Unit Protocol

Protocol Overview

The Unit protocol secures the correct and permissionless execution of automated workflows on blockchain networks. It facilitates the creation, configuration, and execution of these workflows, powered by a network of node operators. The protocol also defines and enforces the cost structure for compensating participants. Unitis designed with a future vision of decentralization, governed by a token that in addition to governance will be used for staking, and other DeFi activities.

Protocol Participants

Unit operates with three primary roles, each integral to the protocol’s functionality:

Workflow Builders

Workflow builders are responsible for creating and maintaining workflows, building new modules, and assisting with workflow integration into customer applications. These participants are typically tech- or crypto-savvy and play a key role in designing the logic and automation within the protocol. Builders define steps, conditions, and triggers within workflows, enabling their reuse and customization by consumers. In return for their contributions, workflow builders receive a builder fee each time their workflow is utilized.

Node Operators

Node operators run the Unit engine, which ensures the secure and permissionless execution of workflows. They need technical and DevOps expertise to maintain and manage the nodes that process workflows. Node operators perform essential duties in the decentralized system, ensuring that workflows execute in a timely and secure manner. For their efforts, node operators receive an operation fee for every successful workflow execution.

Workflow Users (Consumers)

Workflow users, or consumers, are the businesses, or end-users that utilize the automated workflows created in Unit. They configure and run workflows to meet their specific needs, whether through direct interaction with Unitor via third-party integrations. Consumers range from large businesses to individual end-users, driving demand for automation within the Unitnetwork. In return for using the workflows, consumers pay workflow fees, which are distributed between workflow builders and node operators as compensation for their contributions.

Token and Governance

We plan to introduce a token that will govern the Unit protocol. The token will be central to the decentralized governance system, allowing token holders to participate in key decisions about the protocol, such as setting fee structures, approving upgrades, and more. Additionally, the token will play a crucial role in staking, which will be critical to securing the network and ensuring the reliability of workflow execution.

Cost Structure

The cost structure of the Unit protocol is straightforward and fair, ensuring that both workflow builders and node operators are compensated for their contributions. Consumers pay for the automation they receive through a combination of two fees:

Builder Fee: This fee is set by the workflow builder and compensates them for creating and maintaining the workflow.

Operator Fee: A network-wide fee paid to node operators for executing workflows. The operator fee is standardized across the network.

The total fee a consumer pays for a workflow is the sum of the builder fee and the operator fee:

Total Fee = Builder Fee + Operator Fee

This cost structure ensures that builders are incentivized to create high-quality workflows and that node operators are fairly compensated for maintaining the system’s integrity and security.

Under the Hood