Currencies32892
Market Cap$ 2.80T-1.24%
24h Spot Volume$ 51.75B-4.11%
DominanceBTC58.81%+0.18%ETH7.75%-0.49%
ETH Gas0.40 Gwei
Cryptorank
Open report modalReport issue
UTONIC

UTONIC UTC 

1 Watchlists

DeFi

General Info

Tags (Sub-Categories):

# Token

+1

Description

UTONIC is a restacking protocol designed specifically for the TON ecosystem.

What is UTONIC?

UTONIC is the restaking platform designed specifically for the TON (The Open Network) ecosystem. Inspired by the principles of EigenLayer, UTONIC empowers TON validators and token holders to enhance the security and scalability of decentralized applications within the TON network. By restaking their TON tokens, participants can secure new services, support innovative projects, and earn additional rewards, all while leveraging the existing TON infrastructure.

UTONIC functions as a marketplace where developers can incentivize operators to allocate their restaked TON for securing their services. This represents a significant improvement over the traditional approach, where applications often need to issue highly inflationary tokens as rewards for validators and build a new trust network from the ground up. With UTONIC, developers can leverage on the security provided by restaked TON assets, drastically reducing the financial and time investment required compared to establishing a new trust network from scratch.

uTON is the native embedded liquid restaking token (LRT) of TON in the UTONIC platform. It supports LST restaking and native restaking, and users can mint LRT (uTON) through restaking with TON/tsTON/stTON or staking node credential. uTON is always fully backed by restaked TON and LST of TON.

Trending Coins and Tokens Flame icon