Unit Plasma

UXPL Price

About Unit Plasma (UXPL)

Unit Plasma is the native asset of the Unit protocol, an infrastructure layer designed to tokenize and bridge major cryptocurrencies directly onto the Hyperliquid ecosystem.

• Facilitates seamless deposits and withdrawals of assets like Bitcoin, Ethereum, and Solana between their native chains and Hyperliquid.
• Powers a unified trading environment that integrates spot and derivatives markets on a single platform.
• Enhances capital efficiency through features like portfolio margin and on-chain spot-futures basis trading.

What Is Unit Plasma

Unit Plasma (UXPL) serves as a key utility component within the Unit protocol, which acts as the asset tokenization layer for the Hyperliquid blockchain. The protocol is designed to bridge the gap between distinct blockchain networks, allowing major crypto assets to flow freely into Hyperliquid's decentralized exchange. By tokenizing these assets, Unit enables users to utilize their holdings in a high-performance, on-chain order book environment.

Value moves through the system as users deposit native assets into the Unit protocol, receiving tokenized representations that can be traded or used as collateral. The UXPL token is put to work within this infrastructure to facilitate protocol operations and maintain the integrity of the tokenization process. As the Hyperliquid ecosystem scales and more assets are integrated, Unit Plasma provides the necessary rails for expanded liquidity and diverse trading pairs.

What Makes Unit Plasma Unique

• Native Hyperliquid Integration: Unlike general-purpose bridges, Unit is built from first principles exclusively for the Hyperliquid architecture, ensuring deep optimization and security.
• Guardians Network: The protocol is secured by a distributed set of operators known as Guardians, which includes the Unit core team, Hyperliquid Labs, and the high-frequency trading firm Infinite Field.
• Threshold Cryptography: It utilizes advanced threshold signature schemes to manage key shares in a distributed manner, ensuring that no single entity can unilaterally control the tokenization or withdrawal process.
• Fungibility Across Execution Layers: Unit Plasma tokens are fungible between Hyperliquid's primary execution environment (HyperCore) and its Ethereum Virtual Machine compatible layer (HyperEVM).

What Can You Use Unit Plasma for?

• Asset Tokenization: Users can leverage the protocol to bring non-native assets onto Hyperliquid for spot trading and DeFi integration.
• Portfolio Margin: Facilitates cross-margining for major assets, allowing traders to use their tokenized holdings to back derivatives positions more efficiently.
• On-chain Treasury Management: Provides a verifiable and transparent way for protocols and DAOs to manage their asset reserves directly on-chain.
• Protocol Service Fees: The token is involved in the settlement of transactions and services within the Unit tokenization layer.

How Does Unit Plasma Work?

Unit Plasma operates through a network of specialized operators called Guardians. Each Guardian runs an Agent software component that independently indexes supported blockchains to verify transaction finality and on-chain activity. This ensures that deposits and withdrawals are accurately reflected across the bridge.

To maintain security, the protocol employs a threshold signature scheme. This cryptographic method requires a specific number of Guardians to cooperate to sign transactions, preventing any single point of failure. When a user initiates a transfer, the Guardians work together to validate the request and perform the necessary minting or burning of tokenized assets. These operations are subject to protocol service fees, which support the maintenance and security of the tokenization infrastructure.

Team Info and Investors

The Unit protocol is developed and maintained by a core team in close collaboration with the Hyperliquid ecosystem. The initial Guardian set, which governs the security and operations of the protocol, is led by the Unit core team, Hyperliquid Labs (the developers of the Hyperliquid blockchain), and Infinite Field. While the project emphasizes its self-funded and independent development through Hyperliquid Labs, it leverages the technical expertise of its core contributors to maintain its high-frequency trading infrastructure.

Where can you buy Unit Plasma?

UXPL tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Unit Plasma is Hyperliquid, where the most active trading pair UXPL/USDC has a trading volume of $167,025.52 in the last 24 hours.

What is the daily trading volume of Unit Plasma (UXPL)?

The trading volume of Unit Plasma (UXPL) is $167,490.55 in the last 24 hours, representing a -61.10% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Unit Plasma (UXPL)?

Unit Plasma (UXPL) reached an all-time high of $1.57 and an all-time low of $0.06020. It’s now trading -94.10% below that peak and 52.80% above its lowest price.

What is the market cap of Unit Plasma (UXPL)?

Market capitalization of Unit Plasma (UXPL) is $213,979 and is ranked #- on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of UXPL tokens (2.3 Million tokens are tradable on the market today).

What is the fully diluted valuation of Unit Plasma (UXPL)?

The fully diluted valuation (FDV) of Unit Plasma (UXPL) is $213,979. This is a statistical representation of the maximum market cap, assuming total number of 2.3 Million ETH tokens are in circulation today.

How does the price performance of Unit Plasma compare against its peers?

With a price decline of -7.80% in the last 7 days, Unit Plasma (UXPL) is underperforming the global cryptocurrency market which is up 2.40%, while underperforming when compared to similar Decentralized Finance (DeFi) cryptocurrencies which are up 2.20%.