UTONIC Protocol, a blockchain-based retaking platform, announced that it has surpassed the $100 million threshold in total value locked (TVL). This achievement was achieved with the participation of leading investors, validators, and institutions. UTONIC stands out as the first retaking solution built on The Open Network (TON) and aims to decentralize the blockchain ecosystem.
Ethereum Inspired by EigenLayer
UTONIC, Ethereum $2,418 Inspired by EigenLayer, the first restaking protocol built on TON, the platform introduces its own restaking mechanism. However, the platform differentiates itself by combining innovation with TON’s unique capabilities. By leveraging the power of the network, it provides increased security and scalability for both validators and individual token holders.
UTONIC has established several strategic partnerships within and outside the TON ecosystem. It collaborates with major restaking solutions such as TonStake, iZUMi Finance, InfStones, Satlayer, and Stakestone. These partners have committed to providing consulting and technical support to enhance the platform’s integration and capabilities with various blockchain services.
Rewards and Incentives
UTONIC offers its users the opportunity to earn three types of rewards: native validator rewards, Actively Verified Services (AVS) yield, and farming incentives. By staking their assets, users contribute to vital services on the TON blockchain, such as cross-chain bridges, oracle networks, and sidechains. This further enhances the overall security of the protocol.
TON holders can stake their assets on UTONIC in a variety of ways. Native stake involves staking TON tokens into UTONIC’s smart contracts. The LST stake option involves users staking Liquid Staking Tokens into UTONIC’s smart contracts. With this method, LSTs that have already been staked in different protocols are re-staking via UTONIC.
Once the restaking process is complete, the platform generates an embedded token called uTON. This token acts as a receipt for the restaking TON. uTON holders can earn incentives by leveraging partner networks, DeFi platforms, sidechains, and other parts of the TON ecosystem.
The UTONIC protocol reflects the increasing interest in restaking solutions in the blockchain world. The platform draws attention with its goals of increasing security and contributing to the development of decentralized applications. The different staking methods and reward systems offered to users ensure that the platform is adopted by a wide range of users. In addition, it can be said that UTONIC is positioned as an important actor in the blockchain ecosystem thanks to its strategic partnerships and innovative features.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
