UNCX received IOTA Grant to expand DeFi services into the IOTA Network!
In a significant boost to our commitment to cultivating a more secure DeFi landscape, UNCX has been awarded a grant from the IOTA Foundation’s IOTA Grants program.
To date, the IOTA Foundation has approved 20 out of 82 grant applications, infusing over $2.365 million in funding.
The program supports a wide range of projects, including decentralized exchanges (DEX), GameFi, real-world asset (RWA) tokenization, and non-fungible token (NFT) marketplaces.
With the grant from the IOTA Foundation, UNCX is set to extend its DeFi services to the IOTA ecosystem. This strategic move aligns perfectly with IOTA’s vision of fostering a decentralized and interconnected Web3 environment. By integrating its DeFi solutions with the IOTA ecosystem, UNCX aims to unlock new opportunities for users and enhance the overall efficiency and security of decentralized finance within the IOTA ecosystem.
Scope of integration with IOTA
UNCX’s integration with the IOTA ecosystem is multifaceted, focusing on enhancing security, transparency, and efficiency within DeFi services. This initiative will introduce our flagship solutions: Liquidity Lockers and Token Vesting on the IOTA network.
Liquidity Lockers on MagicSea V2 Pools
Our integration will introduce Liquidity Lockers on top of MagicSea’s V2 pools. This feature will allow IOTA users to securely lock their liquidity, enhancing asset management on MagicSea. By offering a secure method for locking liquidity, IOTA developers can now alleviate concerns about rug pulls within their projects, thereby fostering greater trust in their projects.
The Liquidity Lockers will also enable more sophisticated liquidity management strategies, allowing IOTA projects to better plan and execute their financial activities in tandem with their strategic roadmap.
Token Vesting on IOTA Network
UNCX is also implementing token vesting capabilities on the IOTA network. Token vesting is the process of locking portions of a project’s total token supply and releasing them gradually over a predetermined period, known as the vesting period. This mechanism ensures that tokens are distributed in a controlled manner, aligning with project milestones and long-term goals. It prevents immediate access to large amounts of tokens, thereby reducing the risk of market manipulation.
IOTA users will soon be able to align token releases with project milestones, maintaining the integrity of tokenomics and ensuring long-term project stability.
A Future of Secure DeFi Ecosystems
The collaboration between UNCX and the IOTA Foundation represents a significant leap in the journey towards a safer DeFi landscape. By integrating our flagship DeFi features, Liquidity Lockers and token vesting, into the IOTA ecosystem, we are fostering an environment of security, transparency, and trust for their community.
The UNCX Network team
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