April Update | UNC Swap: What’s next?
This article comes within a very interesting timing, doesn’t it?
This week, the UNC Swap started in November 2020 has officially come to an end (April 15th). This step is capital to finally move forward with our ecosystem from our former deprecated token (UNC) to UNCX.
During these 6 months, the transition occurred very smoothly.
We are very thankful for the engagement coming from the community during this phase. Helping people on the chats, linking documentation… Awesome vibe 💯!
What to expect from a short-term development perspective?
Currently, we are fine-tuning our next capability, which will obviously be available as a service! Some of you may already know what we are talking about: Token vesting.
This will fit very well along with our ILO Platform and Liquidity Lockers, plus it was strongly requested by our community hence it has been prioritized.
UniCrypt vesting options will be available on the 4 chains where we are currently deployed.
It is worth mentioning here that the features supported are completely unique on the market, and we will again deliver a best-in-class service that is completely decentralized — The green unicorn vision does not change: SDDT! (Scalable Disruptive Decentralized Tech).
Once the vesting options are out, we will be working head down on the fee distribution mechanism. We are aware the community expects this feature to be out, and so do we! We are taking our time to build a robust and fair system that is both as simple as possible while being the most configurable reward distribution and farming mechanism to date… that will also be available as a service, as per UniCrypt standard.
We are unfortunately unable to share more about this one yet, except that you can expect unique features. Work in progress!
What to expect from a communication and operational standpoint?
After almost a full year of existence, UniCrypt is about to enter a new phase. We would recommend everyone to stay tuned on our socials (best will be to turn on the bell on Twitter, to be fair) as some VERY serious news are around the corner. Our model has proven itself to be very sustainable, and the team is now actively expanding.
Since its inception, our project has exclusively focused on the app interface. This strategy came with pros and cons:
✅ Friendly UI to interact with, native mobile compatibility.
❌ Lack of explanatory content related to our services could lead to unanswered questions, misunderstandings, or misconceptions.
💥 Well, we are unleashing a brand new website very shortly. Made with love (and tech)! Stay tuned.
Last but not least! Unicrypt is thrilled to reveal its participation as a major sponsor of the DeFi Summit event.
The summit is happening in mid-May (subject to change, dates are not yet 100% confirmed), and we advise everyone to keep an eye on the event website.
The DeFi Summit means a lot to us, and we are proud to be included in the roster of speakers that will participate in the organized speeches and talks.
Chav, which many of you probably already know, will catch the mic 🎙️and spread the word 🗣️ during this event.
You guys definitely want to check out the complete roaster (Coinbase, Chainlink, The Graph, Polygon among others… and Unicrypt — Woop Woop!)
Wasn’t this article supposed to be about the UNC Swap finishing line?
It was indeed the original intent, but we figured we had way more news to share. Let’s now summarize where we are heading while closing the direct links through a swapping contract between former UNC and UNCX 🔎
On April 16th, we drained the remaining UNCX that were held in the swapping contract, representing a total of 4000 UNCX (Transaction).
In full transparency, we did not expect that large amount of tokens to be remaining in the aforementioned vault.
Burning all the UNCX drained may have a short-term impact on the charts but would not be aligned with our long-term vision about the project as a whole.
Hence, we have opted for a smarter repartition that will hopefully please everyone. Below, the metrics and repartition:
🌱 Liquidity Providers Rewards: 2000 UNCX
LPs highly contribute to the ecosystem by stimulating market depth. Given that UNCX is now available on multiple chains, it is extremely important to enhance the availability of UNCX.
We will achieve this through UNCX incentives and Farms allocations.
First, Farms V2 will need to be launched.
Once released, monthly farms and reward programs will be created and topped up along the way to reward liquidity providers on the UNCX-ETH pair.
🛅 Stakers Rewards: 500 UNCX
UNCX staking is a feature our community requested several times. We heard you. It’s not ready yet, but we are on a long-term ride, and it will come.
Once we are close to completion, the community will be notified and detailed explanations on this cross-chain reward program will be shared.
Our next priority remains the ILO 💸 fees distribution on our supported chains! Staking will come at a later time.
💱💧 Late swappers and Liquidity Reserves: 500 UNCX
Even after the UNC Swap due date, we felt it was necessary to keep a reasonable amount of UNCX tokens in a dedicated reserve. This reserve will serve 2 purposes.
First, late swappers: we noticed that a lot of holders, small and big, are still holding the former UNC token. To prevent them from feeling trapped, we are reserving a portion for the late swappers that will need to manually reach out to us. Our point is simple: being as fair as possible.
Second, liquidity reserves: this second purpose speaks for itself — expect this to serve for either a market depth enhancement or read the note below ⤵️
A big CEX listing could be on the table in the upcoming weeks/months, we are getting ready for that behind the scenes. The community will be updated regularly in this regard.
🔥 Burning allocation: 1000 UNCX
You heard it right — The biggest burn in the history of UNCX is on its way. We won’t share an exact ETA on the burn to prevent any specific trading activities around the event.
Burning 1000 UNCX would put our maximum supply to a new total of 47650 UNCX Tokens — Almost 5% of the initial supply would have been burnt by then.
Deflationary nature in action!
Thank you for your time reading us. We are delighted that we could finally share these updates with our amazing community. There is a lot of information to digest as the team is on many fronts simultaneously. We tried to make this as clear as possible, nevertheless do reach out to us using the links below should you have any questions or concerns. Please also find a simple summary of what is coming right here ⤵️.
▶️Release of our new website.
▶️Release of our token vesting options.
▶️Release of Farms as a service v2, Staking as a service. This release will trigger the ILOs fee distribution and the launch of the new multi-chain farms for our pairs (UNCX and UNCL pairs). Prepare yourselves!
Cheers everyone, and definitely stay tuned! 💥 #Anon? #Reveal? 💥