As a researcher deeply entrenched in the blockchain and DeFi space for the past decade, I must admit that UTONIC’s $100 million TVL milestone has caught my attention like a beacon in the night. Having witnessed the evolution of various staking solutions across multiple ecosystems, I can confidently say that UTONIC’s innovative approach is not just a game-changer for TON but potentially for the entire blockchain industry as well.
UTONIC, a groundbreaking multi-instrument tool for re-staking on the TON network, recently disclosed its initial significant Total Value Locked (TVL) achievement. By presenting unique designs tailored for the TON environment, UTONIC paves the way for enhanced yield potential.
TON’s first restaking solution, UTONIC, hits $100 million in TVL
The primary restaking solution offered by UTONIC, TON‘s leading project, has obtained promises of a $100 million TVL (Total Value Locked) from prominent investors, validators, and institutions. This protocol enables users to reuse their staked TON tokens, thereby extending the security of the blockchain to various other applications.
In simpler terms, the UTONIC protocol operates like a marketplace. Here, developers can motivate operators to use their staked TON coins to access various services by offering incentives. Compared to conventional methods, this is more efficient since applications no longer have to release a large number of highly inflationary tokens as rewards for validators and establish trust from scratch.
Using UTONIC, developers can significantly cut down on both financial investment and time commitment, as they tap into the security offered by already restaked TON assets. This is a major advantage over starting an entirely new system from the ground up.
In a fashion reminiscent of early innovations by LST leaders like EigenLayer, UTONIC blends creativity with the distinctive applications of TON, thereby boosting both TON’s validators and individual token owners. This empowerment aims to improve the security and scalability of local decentralized apps (dApps) on the TON network.
The restaking approach leverages the network’s existing validators, creating a more robust, flexible and economic ally efficient infrastructure without the need for new resources.
Growing ecosystem and product through partnerships
Distinguished re-staking protocols across the globe, together with key figures within the TON network such as TonStake, iZUMi Finance, InfStones, Satlayer, and Stakestone, have formed alliances with UTONIC Protocol to offer consultative and technical assistance.
In simple terms, when yield farming with native restaking, users can choose to reinvest their TON coins by transferring them into UTONIC smart contracts. These tokens are then employed in TON staking activities. The operators will subsequently use the deposited TON for further restaking within UTONIC.
By utilizing LST restaking, stakers can easily deposit their Liquid Staking Tokens (LSTs) directly into UTONIC’s smart contracts. In turn, operators will take the previously staked LSTs and use them to restake these assets within UTONIC.
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2024-09-13 19:08