UniCrypt (UNCX), a full service hub for decentralized finance (DeFi)

Unicrypt-social - Source Unicrypt
Unicrypt-social - Source Unicrypt

UniCrypt’s very comprehensive decentralized platform offers numerous services, including launchpad, staking, farming, liquidity locking, and another token vesting. Let’s take a look at this decentralized finance protocol (DeFi), which aims to address one of the industry’s most pressing issues: trust in new projects.

UniCrypt, restoring investor confidence

If you’ve been around the decentralized finance (DeFi) ecosystem for a while, you’ve almost certainly run into this issue. On decentralized exchanges like Uniswap, many new cryptocurrencies are listed every day. Regrettably, not all of them are well-intentioned.

On the contrary, it’s becoming more frequent to see projects abruptly remove their liquidity, leaving you with worthless tokens and disappearing with your funds. Investors fear these “rug pulls,” and they are one of the primary hazards of DeFi.

The UniCrypt platform’s primary goal is to address this issue by restoring investor confidence in new emergent ventures. How did you do it? One of its numerous services is “liquidity locking,” which allows projects to lock in their liquidity for a specific length of time and therefore demonstrate their good faith to potential investors.

However, “liquidity locking” is just one service offered by UniCrypt, which has a wide range of services. UniCrypt is a multi-chain protocol developed by a French team that aims to provide value to the DeFi ecosystem by delivering “flexible, innovative, and certified technology.” It was launched in June 2020. Here’s a quick rundown of UniCrypt’s many services, which we’ll go over in more detail later::

  • Liquidity locking;
  • Initial Liquidity Offering (ILO);
  • Auditors and KYC;
  • Token vesting;
  • Token mining;
  • Staking-as-a-Service (FaaS);
  • Farm-as-a-Service (FaaS).

UniCrypt was first implemented on Ethereum (ETH), the king of smart contract blockchains, and quickly migrated to other networks. The protocol is presently available on the BNB Chain (previously Binance Smart Chain), Gnosis Chain, Avalanche (AVAX), and Polygon (MATIC) networks.

UniCrypt has over 14,000 projects, $540 million in total value locked (TVL), and 1.2 million monthly users as of this writing. Experience the UniCrypt platform for yourself

A two-token ecosystem (UNCX and UNCL)

UniCrypt is a “dual token” system, which means it has two different tokens: UNCX and UNCL. The first, UNCX, was launched as a governance token with a deflationary nature when UniCrypt was founded in June 2020 (formerly known as UNC then swapped to UNCX in November 2020). The UNCL, which was added in November 2020, serves as a utility token that counterbalances the UNCL’s inflationary tendency.

UniCrypt is, indeed, a sophisticated ecosystem with numerous features and services. As a result, paying all protocol fees and earning incentives only in UNCX would have deflationized the ecosystem and made it unaffordable for a new investor.

As a result, a healthy balance is naturally achieved by introducing a second token, the UNCL, for the payment of particular services (for example, participation in the launch of a new coin) or for prizes linked to staking or farming. at the middle of the two tokens

When it comes to costs, it’s vital to remember that they only apply to projects that want to be featured on the platform. Users of UNCL and UNCX do not have to pay a fee to utilize the protocol. UniCrypt is a free environment that is supported by fees paid by other projects.

All about UNCX, its tokenomics and its “burns”

Let’s look at the functions of each of the two tokens in the UniCrypt ecosystem in more detail, starting with UNCX. Ethereum, Gnosis Chain, Avalanche, Polygon, and the BNB Chain are the five blockchains on which the token is available. UNCX is listed on Uniswap, Gate.io, and PancakeSwap, among others.

Only 50,000 tokens were initially issued, hence the overall number of UNCX is rather tiny. There are only 47,650 tokens in circulation at the time of writing.

UniCrypt does, in fact, do periodic “burns” of UNCX. Simply put, part of the tokens received through platform fees are “burned,” or removed from circulation permanently. This serves to keep the UNCX price up and rewards holders.

About 12,000 UNCX (24% of the total supply) are held at an address belonging to the project team. These funds will be used to finance the long-term development and growth of UniCrypt, which includes marketing, allocations for future advisors, and liquidity management on the various exchanges.

It should be noted that the payment of the team, the service providers and more generally of all the actors revolving around the protocol has never taken place in UNCX, given that the protocol has been profitable since its creation.

All about UNCL, its tokenomics and its inflation

UNCL is available on four blockchains, including Ethereum via Uniswap, Gnosis Chain via Honeyswap, Avalanche via Trader Joe, and BNB Chain via PancakeSwap, similar to UNCX.

UNCL is a utility coin that rewards UNCX protocol participants (more specifically, UNCX stakers, as explained further down in this page). Indeed, by “burning” UNCL, users will be able to participate in the launch of new cryptocurrencies on the site, as well as increase their staking or farming income. Furthermore, these last two features provide contributors with UNCL benefits.

The UNCL token has a “mint” function, as you may have guessed. Users’ rewards are created and added to the overall number of tokens available (120,000 UNCL). This is why, before investing, keep in mind that the UNCL is an inflationary currency, meaning that the amount of tokens increases over time.

UniCrypt, on the other hand, has planned and controlled this inflation. Each year, this will be reduced by a factor of two, resulting in the following pattern:

  • 2021: 60% maximum inflation – not reached to date (240,384 UNCL);
  • 2022: 30% maximum inflation (312,499 UNCL);
  • 2023: 15% maximum inflation (359,374 UNCL);
  • 2024: 7.5% maximum inflation (386,327 UNCL).

Stake your UNCX to participate in the UniCrypt ecosystem

Discover the UNCX staking program

In this section, we’ll take a look at UNCX staking, a feature that allows you to generate returns by directly participating in the workings of the UniCrypt ecosystem. For those interested in UniCrypt’s technology, but not willing to expose themselves to projects launching on the platform, this option should appeal to you.

The objective is to reward holders by redistributing to them a substantial part of what is generated by the platform’s service fees. Initiated at the beginning of March 2022 by the UniCrypt team, this option has already allowed users to share 200,000 USDC.

On April 9, 2022, the second phase of UniCrypt’s staking program will commence. Users can now stake their UNCX tokens and choose the liquidity pool they want to participate in. Don’t worry if you miss the start of the program; you’ll still be able to board the train in the middle of it.

Depending on how many UNCX tokens you lock into the contract, you can choose from three alternative deals:

  • Level 1: from 100 locked UNCXs, no maximum;
  • Level 2: between 20 and 100 locked UNCXs;
  • Level 3: between 3 and 20 locked UNCXs.

The April phase, unlike the previous, now allows you to get your rewards in UNCL as well as USDC. In both circumstances, players will get around $150,000, for a total of $300,000. Tier 1 will receive 50 percent, Tier 2 will receive 30 percent, and Tier 3 will receive 20 percent.

It’s worth noting that the UniCrypt team will replenish these incentives on a monthly basis, in the same amount as they’ve already been allocated for the current month.

Tutorial – How to stake your UNCX and generate returns?

Are you interested in UniCrypt and want to learn how to contribute to the ecosystem’s operation while earning rewards? In this quick and easy guide, we’ll walk you through everything.

1. First and foremost, you must obtain UNCX. Because the staking mechanism is presently only available on the Ethereum blockchain, we propose using the Uniswap DEX to do so.

2. After you’ve accomplished the first step, go to the UniCrypt website and look for the staking tab. Depending on the UNCX you wish to lock under this April program, select the one that best suits you (tier 1, tier 2, or tier 3). Tier 3 has been chosen for this example.

If you want to know more, read our guide on how a cryptocurrency increases in value.

The presented page is broken into numerous sections. The upper banner displays the liquidity pool’s main statistics (the number of UNCXs locked, the number of participants, and so on) as well as your position within it (the number of UNCXs you’ve locked, your pool share, and so on):

unicrypt top banner
How does Unicrypt staking does work #1 ? Source: Unicrypt

3. At the moment the staked UNCX amount is of course zero, but we will fix that. In the block on the left of your screen, click on the stake window . Select the amount of UNCX you want to lock (between 3 and 20, since we chose tier 3).

UniCrypt staking block
How does Unicrypt staking does work #2 ? Source: Unicrypt

After you’ve chosen an amount, your portion will appear on the line just below. You must still pick the length for which you desire to lock your tokens before verifying.

This is critical for calculating the prizes that you will create. Indeed, the longer you decide to block your UNCXs, the greater the performance improvement you will experience. This goes from 0% for a one-month period to 100% for a one-year and one-month period.

Keep an eye on the bottom line for the withdrawal date and make sure you’re ready to commit to that time frame before clicking. Also note that this boost option can be revised upwards, but never downwards.

4. Once your UNCXs have been banned, all you have to do now is choose the reward scheme that appeals to you. In the box to the right of the screen, you’ll find all of the information you need on this topic. The list of those in which you have already participated can be found in the first window. Those that are now available, in the second. Finally, in the third, those who have completed their tasks.

UniCrypt programs
How does Unicrypt staking does work #3 ? Source: Unicrypt

As you can see, the March USDC program is still available at the time of writing these lines and is almost over. The following two pools, on the other hand, have not yet begun, but you can already deposit funds there.

You don’t have to strain your head to choose one; you can choose up to ten different ones and disperse your locked funds as you see fit. You’re ready to earn your rewards once you’ve positioned yourself on these programs.

However, in addition to boosting lockout length, there is still room to improve your yields. Indeed, UniCrypt allows you to burn UNCL tokens in order to gain a competitive advantage in the pool. This allows you to improve your rewards on a program by up to 100%, provided you meet these conditions:

  • Tier 1: burn up to 300 UNCL to reach +100%;
  • Tier 2: burn up to 200 UNCL to reach +100%;
  • Tier 3: burn up to 150 UNCL to reach +100%.

All about UNCX staking

Overview of other UniCrypt services

Liquidity lockers

“Liquidity Locking” is possibly the most significant of UniCrypt’s many services. To grasp this, keep in mind that each initiative that begins — whether on Uniswap, PancakeSwap, or elsewhere – requires funding.

Investors are usually the ones who give this liquidity. They are, however, sometimes hesitant to invest in initiatives unless they know they will see them again in the future.

UniCrypt’s “Liquidity Lockers” are smart contracts that allow developers to store and cancel access to their LP tokens (Liquidity Provider’s tokens). To put it another way, they store their money in vaults to demonstrate their trustworthiness.

UniCrypt’s business strategy is mostly built on the fees developers pay to submit their project. At the time of writing, more than $540 million has been locked on the various automated market makers thanks to UniCrypt’s services. Either they pay a flat tax (in ETH, GNO, AVAX, MATIC, or BNB, depending on the blockchain) to which a proportion of the amount of locked tokens is added, or they pay a percentage of the amount of locked tokens. It is also feasible to lower this share for large projects by doing a UNCX burn.

Find more information on Liquidity Lockers

Token Vesting

Liquidity Lockers allow creators to lock their LP tokens (also known as liquidity pool token pairs), but not all other types of tokens. Token Vesting, or token lock, was proposed by UniCrypt to address this issue.

In a nutshell, this service allows you to lock a specific number of tokens for a set period of time in order to demonstrate your participation in the project. They will be unable to access or retrieve their tokens once the developer has banned them, and will have to wait until the conclusion of the contract to do so.

Token Vesting, like Liquidity Lockers, is a supplementary security feature for investors to reassure them about the intentions of a project’s developers. This undeniably earns the trust of the community and makes it grow faster.

Learn more about Token Vesting

Initial Liquidity Offering (ILO)

UniCrypt’s Initial Liquidity Offering service, similar to a launchpad (specialized platform for launching new cryptocurrencies), allows users to contribute their liquidity directly from liquidity pools in order to benefit from token payouts from a new project that begins.

UniCrypt has integrated Liquidity Lockers to a fully decentralized and automated platform. In the same line as the other two services, this one tries to comfort investors. Each project intending to debut on UniCrypt via an ILO must lock between 60% and 100% of the liquidities raised.

If any of the projects appeal to you and you want to participate in ILOs on UniCrypt, there are a few things to bear in mind. To begin, the tokens you purchase will be stored in the smart contract until the pre-sale period ends.

After that, once the liquidity cap (i.e. the ILO target) is met, anyone can manually stop the token lockup period, create a pair on a DEX, and begin trading. Finally, the launchpad for UniCrypt is decentralized. To put it another way, they have no right to inspect the tokens that are launched, and it is up to each investor to conduct their own due diligence before investing.

Join the UniCrypt Lockers Telegram channel if you want to keep track of project releases on the UniCrypt launchpad more closely.

All about Initial Liquidity Offering (ILO)

A DeFi hub role to be ensured

UniCrypt is, as you may have guessed, one of the most comprehensive decentralized finance platforms. Because the protocol is interoperable with the most popular blockchains, the services available are quite diverse and ideal for both investors and developers.

Liquidity Locking is one of the most important aspects. UniCrypt enables projects to demonstrate their good faith and reassure potential investors by allowing them to lock in their funds prior to launch. This option, of course, goes hand in hand with UniCrypt’s decentralized launchpad, the Initial Liquidity Offering.

The UniCrypt ecosystem is built on two tokens, UNCX and UNCL, each with its own tokenomics and roles. UniCrypt, for example, offers UNCX staking as a way to earn money and participate in the platform’s operation. For the month of April, a new incentives program is running that allows members to split $300,000.

Finally, UniCrypt is attempting to establish itself as a truly decentralized financial hub. To keep this position, the platform is planning several enhancements as well as the addition of increasingly intriguing and revolutionary features.

UniCrypt, A Full-Service Hub For Decentralized Finance – Summary

  • UniCrypt is a “Dual token” system, which means it has two different tokens: UNCX and UNCL. The first, UNCX, was launched as a governance token with a deflationary nature when UniCrypt was founded in June 2020.
  • Initiated at the beginning of March 2022 by the UniCrypt team, this option has already allowed users to share 200,000 USDC. On April 9, 2022, the second phase of UniCrypt’s staking program will commence.
  • UniCrypt has integrated Liquidity Lockers to a fully decentralized and automated platform.
  • Finally, the launchpad for UniCrypt is decentralized.
  • Join the UniCrypt Lockers Telegram channel if you want to keep track of project releases on the UniCrypt launchpad more closely.
  • UniCrypt is, as you may have guessed, one of the most comprehensive decentralized finance platforms.
  • Finally, UniCrypt is attempting to establish itself as a truly decentralized financial hub.
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