UniCrypt Network is a one-stop shop for everything a client needs to launch a project.
Unicrypt is known to have produced the very first liquidity locking smart contract used in one of the largest decentralized exchanges on Ethereum, Uniswap. It started with the concept of proof-of-liquidity (PoL), then continually developed new features, blending liquidity locking with a launchpad service. Let’s take a look at the present UniCrypt network and how it stands in the grand scheme of things.
Table of Contents
Background
Passion fuels Unicrypt’s operations. The same passion that drives the community and its core members. The green Unicorn, which was constructed entirely from scratch in June 2020, took design cues from the brilliant minds behind the Uniswap protocol. The community strives to be positive all the time, and that distinguishes us unmistakably. It keeps laying the foundations on which Unicrypt’s ethos and utility are built. In June 2020, UniCrypt was founded with the straightforward but innovative idea of finding ways to safeguard investors and newcomers to the DeFi industry. Their vision is simple, automation is scalability, and protocols are trusted.
What is Unicrypt Network?
UniCrypt Network is a one-stop shop with everything a client needs to launch a project, buy tokens from the launchpad, simply stake tokens, create a farm, and more. It offers 5 main services in addition to a number of sub-features. In the end, Unicrypt is a provider of Blockchain technology. Their services are available on 6 AMM across 4 blockchains.
Except for the Pancakeswap v1 to v2 LP locker migration, which was audited by Certik, every smart contract that UniCrypt deploys has its security checked by its partners at ChainSulting.
Services and Capabilities
Liquidity Lockers
The security function of Unicrypt that enables project developers to lock their liquidity provider tokens is warmly welcomed. The Unicrypt team is pleased to reiterate that the project introduced the idea of locking liquidity to the market, which is now a common practice in the DeFi sector.
Token Vesting
Project owners and/or early adopters of technology can both use vesting options. This option is provided by Unicrypt as a stand-alone service, and it works with the internal ILO Platform. Token-vesting wallets are shown in a specific user interface (UI), making it simpler for anyone to consult it.
Token Minting
Individual token creators are permitted. Users can create non-mintable ERC-20 compliant tokens by using the ENMT (ERC-20 Non-Mintable Token) feature (fixed supply). No coding knowledge is necessary, and no additional audits are needed for newly created token contracts.
Decentralized Launchpad for New Projects
Users can use Unicrypt’s technology to launch their projects as token developers. The Unicrypt team works with an expanding number of outside providers who can evaluate various facets of a client’s product. Users can also use Unicrypt’s technology as an incubator to start up their own incubated projects.
Farms as a Service
Any cryptocurrency or token must promote liquidity and build market depth. Using this service, project developers can create a farming vault designed to reward liquidity providers and thereby motivate their communities.
Staking as a Service
Sustainable projects are always looking for ways to benefit their local communities. They now have this option thanks to Unicrypt. This service involves creating staking contracts that can encourage holders or communities to take advantage of the benefits made available by their preferred projects.
Supported Blockchains
Unicrypt supports known and trusted blockchains such as Binance Smart Chain, Ethereum, Matic/Polygon, and xDai Chain. Unicrypt services, which were initially launched on the Ethereum network, are now operational on several chains, enabling projects, communities, and token developers to make use of the best resources for them. The developers think that multi-chain technology is the way of the future for the entire cryptocurrency sector.
UniCrypt Referral Program
The goal of the referral program is to give rewards to those who promote the services and bring in new users of Unicrypt’s Liquidity Locker. To protect investors from a classic “rug pull,” a liquidity locker temporarily revokes an LP’s ownership and transfers it to Unicrypt’s locker for a predetermined amount of time.
Dual Token Ecosystem
The deflationary governance token UNCX replaced the original Unicrypt UNC token. In addition, UNCL, a utility token with a low inflation rate and a staking/farming reward. The Ecosystem offers a variety of services, amenities, and fee-paying options. It would become “over”-deflationary, quickly unaffordable, and lead to an unbalanced ecosystem if all service fees were paid with UNCX.
There is a proper balance with a dual token concept because some fees are paid in UNCL and there is a chance to earn UNCL by staking UNCX.
UNCX and UNCL Tax
Taxes on UNCL and UNCX are 0%. The fees that many projects pay to use the services in the Unicrypt ecosystem make it truly sustainable, so Unicrypt’s tokens do not need to be “taxed” on transactions. When the price movement is small, 0.1% slippage is typically enough to buy or sell UNCX or UNCL.
UNCX Token
Through the staking contract, the community will receive the ILO’s collected fees. The StreAMM platform’s fees will be distributed to UNCX stakeholders.
UNCL Rewards
Users who stake UNCX are eligible to win UNCL prizes. This will be the primary method of creating UNCL, if not the only one.
UNCX development wallets
The Unicrypt project is developed and expanded using funds from the UNCX foundation wallets. This includes marketing rewards, floating initial liquidity on additional exchanges, paying developers and other core team members, and any other methods of expanding the project’s exposure.
UNCL Token
The UNCL token contract includes a mint function. This mint function exists as this is an inflationary token. Unlike the ETH network, which rewards miners with newly created ETH, the UNCL farms reward liquidity miners with UNCL.
UNCL Inflation
Shortly after its launch, the Unicrypt team decided on the inflationary policy for UNCL tokens. Every year, the inflation rate will be cut in half.
Liquidity Locker
On the market, there are numerous smart contracts and liquidity locking services. But the Unicrypt team is pleased to reiterate that they created the idea of liquidity locking.
Locking Fees
The fee structure for using liquidity lockers is very straightforward. A percentage of the LP tokens are locked in addition to a flat fee (ETH, xDai, or BNB, depending on the blockchain from which a holder is using the service). There is a second fee option for very large locks, which consists of burning UNCX to get a break on the UNIv2 fees.
The smart contract for Unicrypt Lockers is available on Etherscan (ETH Mainnet contract), BSCscan (BSC Mainnet contract), and Blockscout (xDai Mainnet contract). All Uni v2 liquidity tokens (the tokens of the liquidity provider) on the platform are locked by this contract.
Other locking contracts on the market do not support the advanced features that it supports. Even though reflections are supported, they can only be used with pairs that are identical to the one that is locked. Users who have holdings in WBNB, WETH, USDC, etc. will be permanently locked in the contract and unable to withdraw those holdings.
Conclusion
No matter how constructive or destructive the criticism, it is necessary to draw lessons from the daily handling of hundreds of conversations. However, by concentrating on the communities, the developers can use their projects as a model for product-market fit. Additionally, the developers are looking for ways to be on top of their game.
