What is UNION Protocol Governance Token (UNN) crypto coin?

UNN is the governance token for UNION Protocol, a decentralized finance (DeFi) platform launched in early 2021 with a simple goal: let users bundle insurance-like protection across multiple crypto assets in one place. But today, UNN isn’t a thriving project-it’s a ghost. Its price has collapsed over 99.8% from its peak, trading at just $0.00015 to $0.00019 as of November 2025. The token still exists on exchanges like Coinbase and Poloniex, but it’s barely moving. No new updates. No active community. No real use. It’s a relic of the 2021 DeFi boom that never found its footing.

What UNN was supposed to do

UNION Protocol aimed to solve a real problem in DeFi: risk. If you’re lending on Aave, staking on Ethereum, or farming on Uniswap, you’re exposed to smart contract bugs, hacks, or price crashes. UNION wanted to let you buy bundled insurance policies across these platforms using UNN tokens. Holders could vote on which protocols to insure, set coverage terms, and earn fees from policy sales. It sounded smart. It even had a multi-token model-one for governance (UNN), one for coverage (UPT), and one for liquidity (UPL). But the execution never caught on.

Unlike Nexus Mutual or Cover Protocol, which built real user bases and active governance, UNION Protocol faded into silence. By mid-2021, trading volume dropped. By 2022, developers stopped posting. By 2023, even the project’s own website went dark. Today, UNN exists only as a ticker on a few exchanges, with no clear roadmap, no team updates, and no new proposals.

UNN token basics

UNN is an ERC-20 token built on the Ethereum blockchain. Its contract address is 0x226f...773a9d, verified on Etherscan. The total supply is fixed at 1 billion tokens, and according to Coinbase and TradingView, the full supply is circulating. That means no tokens are locked, reserved, or held by the team-every single one is out in the wild.

But here’s the odd part: Binance lists UNN but shows a $0 market cap and claims the circulating supply is zero. That’s impossible if Coinbase and TradingView say 1 billion tokens are out. This mismatch suggests one of two things: either Binance’s data is outdated or broken, or there’s a hidden distribution issue no one’s talking about. Either way, it’s a red flag for transparency.

Price history and market performance

UNN hit its all-time high of $0.13 on March 20, 2021, during the peak of DeFi mania. Back then, the project had hype, media coverage, and decent trading volume. Today, it’s worth less than 0.15% of that peak. A $100 investment at the top would be worth less than $0.12 now.

Recent price movements are tiny. Over the last 7 days, UNN rose 19.4%-but that’s because it was sitting at $0.00012. A 20% jump from a penny is still a penny. The 24-hour trading volume varies wildly: $78,000 on Coinbase, $17,000 on Binance, and just $14,000 on TradingView. That inconsistency isn’t normal. It suggests volume is being inflated on some platforms to make the token look active when it’s not.

UNN’s market cap hovers around $120,000. That’s less than the cost of a single Tesla stock. In a crypto market worth over $2 trillion, UNN has 0% market dominance. It’s not even on the radar of major DeFi analytics tools like DeFiLlama. You won’t find it in any top 1000 lists anymore.

Why UNN failed

There’s no single reason UNN died. It’s a combination of bad timing, weak utility, and no follow-through.

• No real demand: People didn’t buy UNN to insure their assets-they bought it hoping the price would go up. Once the hype faded, so did the reason to hold it.
• Too complex: Bundling insurance across DeFi protocols sounded good, but the user experience was clunky. Most people didn’t understand how to use it, and few wallets supported it.
• No team activity: The founding team vanished. No GitHub commits since 2021. No Twitter updates. No Discord activity. In crypto, silence is death.
• Competition won: Nexus Mutual built a stronger brand, better legal backing, and a real community. Cover Protocol focused on simplicity. UNION Protocol tried to do everything and ended up doing nothing well.

There’s also the issue of tokenomics. With 1 billion tokens in circulation and a price under $0.0002, each token is practically worthless. You can’t even pay gas fees with it. Sending 10,000 UNN costs $5 in Ethereum fees-so you’d be spending $5 to transfer $1.50 worth of UNN. That makes it useless for real transactions.

Can you still trade UNN?

Technically, yes. You can buy UNN on Coinbase, Poloniex, and a few smaller exchanges. But you won’t find it on Binance, Kraken, or KuCoin. That’s because liquidity is terrible. If you try to sell 10,000 UNN, you’ll likely get a terrible price-or no buyer at all. Slippage is high. Order books are shallow. It’s a trap for anyone thinking they can make a quick profit.

Even if you buy it, storing it is risky. Most wallets don’t auto-detect UNN. You have to manually add the contract address. And if you send it to the wrong address, there’s no way to recover it. There’s no customer support. No help desk. Just a smart contract and silence.

Is UNN a good investment?

No. Not even close.

UNN has none of the traits of a viable crypto asset:

• No active development
• No community
• No utility
• No roadmap
• No team

Any price rise you see now is pure speculation-maybe a bot buying low, maybe someone trying to pump it before dumping. It’s not based on fundamentals. It’s not based on growth. It’s based on nothing.

Compare it to real governance tokens like UNI (Uniswap) or AAVE (Aave). Those have active DAOs, weekly votes, real usage, and millions in treasury funds. UNN has a contract address and a price chart that looks like a flat line with a few tiny spikes.

What happened to UNION Protocol?

The protocol itself is effectively dead. There are no recent audits. No new features. No partnerships. No press releases. The official website (unionprotocol.io) redirects to a placeholder page. The GitHub repository hasn’t been updated since 2021. The last Twitter post was in December 2021.

It’s a textbook example of a DeFi project that rode the wave of hype, raised funds, launched a token, and then disappeared. This happens often in crypto. Hundreds of governance tokens were launched in 2020-2021. Less than 5% are still active today. UNION Protocol was never one of them.

What does UNN teach us?

UNN is a warning sign. It shows how easily hype can replace substance in crypto. People buy tokens based on names, logos, and whitepapers-not on whether the team can actually build something useful. UNN had a good idea. But ideas don’t matter if no one follows through.

If you’re looking at a low-market-cap token with no updates, no community, and a price that’s dropped 99%, don’t assume it’s undervalued. Assume it’s abandoned. The market doesn’t forget. It just moves on.

UNN isn’t a coin you invest in. It’s a case study. A lesson. A graveyard of DeFi dreams.