Yet another government official is waking up to Bitcoin’s significance beyond its role as an asset. Rand Paul – Republican senator and well-known libertarian – recently questioned whether “cryptocurrency” could become the world reserve currency. As Bitcoin gains traction and legitimacy around the world, this reality grows ever-more plausible. Weakening Trust in Government Money Rand Paul aired his thoughts in an interview with Axios on Friday. The senator surmised that as trust in government decreases, “cryptocurrency” could “actually become the…
Unicrypt is a blockchain ecosystem and liquidity locking mechanism that seeks to solve one of the most pressing issues facing new projects, investor confidence. This platform introduces various protocols designed to build more trust in new projects in the sector. Specifically, Unicrypt seeks to limit the risk associated with Uniswap purchases through its intuitive approach.
Unicrypt’s primary goal is to reduce investor risks. Currently, Uniswap investors are left open to losses using the protocol. New projects continually enter the platform. Sadly, not all of these firms have good intentions.
It’s become increasingly more common for these projects to start pulling the liquidity out of their Uniswap pools suddenly. This situation has become worse with the introduction of numerous DeFi protocols. Worst of all, this scenario leaves investors holding the bag because they were unaware of the developer’s ill intentions from the start.
Benefits of Unicrypt
The Unicrypt Ecosystem reduces the risk of rug pulls from the market via its unique liquidity lockers. These locking mechanisms ensure investors that the project developers are unable to drain these funds. Expressly, new projects agree to lock their liquidity for an agreed time before launching their pools. Investors can rest assured, knowing that the project is locked in via advanced smart contracts.
The developers behind this concept went to great lengths to ensure it was both user-friendly and flexible. Unicrypt users enjoy a straight-forward locking process that eliminates all the technical barriers associated with these actions.
Deflationary protocols have been integrated into Unicrypt’s network to promote sustainable growth. For example, the fees collected from transactions feedback into the community. Developers examine these earnings to decide if it’s conducive to growth to burn a portion of the fees. In this way, Unicrypt gains more control over its token’s value.
More Staking Options
Unicrypt continues to expand its reach and provide users with more options in the sector. Currently, the platform supports the staking of specific tokens. Specifically, the platform supports the staking of the UNiv2 token via its yield farming protocols. Keenly, your rewards get paid out block by block rather than monthly, as is the case with competitors. Impressively, developers stated that they intend to launch a staking Dapp for any ERC-20 token in Q1 2021.
Advanced Farming Types
Unicrypt is a driving force for innovation in the market. The developers intend to deliver all functionalities developed for their native tokens to the rest of the market in a fully automated manner. For example, developers seek to introduce next-generation concepts such as farms that can generate yields on multiple tokens with a single staked LP token.
How Does Unicrypt Work?
Unicrypt was built to work in tandem with liquidity pools on Uniswap. Importantly, Uniswap liquidity pools operate as a trading venue for any pair of ERC-20 tokens. Notably, every pool starts with a balance of zero until both tokens seed the market. Specifically, Unicrypt rewards farmers for providing liquidity to Uniswap using UNCX and UNCL pairs at this time.
The main product offered by Unicrypt is Liquidity Lockers. These advanced smart contracts allow token developers to lock liquidity on Uniswap for a preapproved time. This maneuver enables new projects to build more trust in the token community.
The concept provides a security net to new investors. Consequently, Unicrypt is very popular. The platform currently has $52.43 million in locked liquidity spread out across 2509 liquidity lockers. This volume makes Unicrypt the most used automated liquidity lockers in the space.
Another primary offering provided by Unicrypt is its yield farming protocols. Yield farming pools allow users to earn a passive income without trading their assets. In exchange, you receive payback of the loan plus interest. As of late, yield farming has become a sought out feature in second-generation DeFi platforms.
Unicrypt offers Yield farming-as-a-service Dapp. Impressively, users earn 0.3% fees on any liquidity provided to Uniswap, plus the yields stated in Dapp for each token. At this time, Unicrypt has around $790,000 locked in Yield farming contracts. Best of all, Unicrypt yield farming provides one platform to manage and track all farms.
The UNCX token acts as the primary deflationary governance token in the ecosystem. Token developers pay fees in UNCX to launch their liquidity pools. There are two fee structures available at this time. The first fee rate is an ETH flat + 1% of the liquidity tokens locked. The second option is for larger projects. It includes 100 UNCX burnt + 0.8% of the liquidity tokens locked.
This fee gets burnt instantly during the liquidity locking procedure. UNCX also serves the role of voting rights in the network. There was an initial supply of 50k UNCX tokens introduced into the market during the platform’s launch.
The UNCL token is the primary utility token of the UniCrypt yield farming system. Farmers receive their rewards in this token. You also use UNCL to create an account on the platform. Developers seek to make this token one of the most useful farmed tokens in the sector. To accomplish this task, developers intend to pair UNCL with dozens of high-quality projects on Uniswap. You will also be able to stake UNCL for ETH shortly. There are 143,195 UNCL in circulation currently.
How to Use Unicrypt
Unicrypt was built from the ground up to simplify the staking and yield farming processes. To get started, you need to understand the locker browser. This portal is set only to show you the Uniswap pairs that have locked liquidity. In this way, you can stick with only viable projects that include liquidity locking protections.
Unicrypt – A Pioneer in the Market
You have to applaud Unicrypt’s development team. These programmers were wise enough to see the shortcomings of the DEX environment and develop ways to reduce these risks. Unicrypt now plays a vital role in this ecosystem.
You can expect to see Unicrypt’s services become an industry standard as DeFi rug pulls continue to harm investors. Looking forward, Unicrypt has its eyes on the launch of a fully automated token pre-sale protocol.
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site. Learn More