A Comprehensive Look at Unicrypt Decentralized Services
Launched in June 2020 from the ground (no ICOs, fundraising, crowd selling etc.) Unicrypt is a multi-chain decentralized protocol that offers an in-demand suite of decentralized services. The project aims to deliver value to the DeFi ecosystem by providing flexible, disruptive and audited technology. For instance, its liquidity locking service helps to solve the tenacious issue of investor confidence in decentralized finance (DeFi) by protecting investors from DeFi exit scams, and rug pulls.
The Unicrypt network utilizes two tokens: UNCX and UNCL. UNCX is a utility token that functions as a means of project developers paying fees and a deflationary governance tool. UNCL is a farming token used for rewarding ecosystem participants. Unicrypt services are multi-chain available in four blockchains: Ethereum, Binance Smart Chain, xDai Chain and Matic/Polygon. Here’s a look at each service.
- Liquidity Lockers
Locking liquidity is increasingly becoming a standard in the DeFi space to protect investors from costly exit scams and rug pulls. Unicrypt offers liquidity lockers smart contracts allowing project developers to lock liquidity for a set period publicly. This creates confidence in investors that the developers are committed to the project and cannot withdraw funds in a rug pull.
Unicrypt is credited as the pioneer of liquidity locking with numerous blockchain startups, including COIN, DEXT, SafeMoon and more already locking millions on the platform.
- ILO Platform
Unicrypt offers a decentralized launchpad for new projects. The platform collaborates with several third-parties to review different aspects of a project and provide a full report on the strengths and weaknesses of the project. Project developers can also leverage the platform’s incubator to launch their very own incubated projects.
- Yield Farming
Unicrypt offers farm-as-a-service Dapp that enables token developers leveraging the Ethereum blockchain to create a farm and incentivize their community by rewarding liquidity providers granting liquidity to any pair on Uniswap. Any investors can access Unicrypt and provide liquidity on the projects/pairs they may be interested in and earn LP rewards.
Staking is an efficient means of crypto projects incentivizing their communities and creating sustainability. Unicrypt offers staking as a service involving creating staking contracts that can incentivize communities/holders to earn passive income in the form of staking rewards from their favourite blockchain projects. Unicrypt will also allow the community to stake UNCL and UNCX and earn staking rewards in USDC/BUSD -this feature is coming soon on Unicrypt.
- Token Vesting and Token Minting
Just deployed on Unicrypt, token vesting and token minting are revolutionary services that will make Unicrypt a comprehensive multi-service platform. Token vesting service complements the in-house ILO platform and allows project founders/teams and investors to lock the project’s token/coins to ensure the project’s longevity and value. Unicrypt’s token vesting dapp is currently offered as an independent product. Token minting service will allow the community to create their own token without necessarily having any coding skills. It leverages ENMT (ERC-20 Non-Mintable Token) standard enabling users to mint (create) ERC-20 compliant and non-mintable tokens with a fixed supply. The minted tokens will require no additional audits once minted.
Less than a year into its existence, Unicrypt has grown to be a leading multi-chain decentralized protocol providing an in-demand suite of decentralized services to make the DeFi space more safe, trustworthy and valuable. The protocol offers a broad spectrum of decentralized services, including liquidity locking, yield farming, ILO launchpad, first-of-a-kind decentralized presale platform, as well as token vesting and token minting, which are set to be launched soon. More exciting services are set to come on Unicrypt. Keep it here for more updates on the project.
A Comprehensive Look at Unicrypt Decentralized Services was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.