UniCrypt Network: $UNCX Staking

Intro

Let’s start by being honest here. Starting to type this Medium article is getting me shaky.

This product release is most likely the biggest piece of tech UniCrypt Network has ever brought to the market. Everyone has a ton of ideas, but transitioning from ideas to new products is a different challenge. We’ve decided to pick up that challenge 👊.

Before going further, I will also take the chance to perform a massive shout-out to our support team for their patience, feedback and documentation releases. You guys rock!

Ladies and gents, it is time to stake! Below in this article, you will find plans, explanations, and links redirecting to our documentation.

Staking & Farming platform capabilities

Of course, we recommend reading fully our documentation to get a guide on each of the features both for users (farmers, stakers) and customers (projects utilizing the product).

Below is a brief summary of the capabilities.

1️⃣ Compatibility: the product is compatible with all types of tokens (liquidity provider, regular, reflections, rebasing tokens). This means our product works with either staking pools or farming (LP tokens) pools.

2️⃣ Flexibility: once a staking pool is in place, our tech allows pool creators to have in place up to 10 simultaneous rewards. Quite handy for sustainable token ecosystems and for stakers too, as you are no longer required to split your portfolio into different pools. Every reward is available on a single dashboard.

3️⃣ Loyalty: long-term stakers, our app is for you! Staking pool creators can encourage their communities to lock for longer with time-based bonus rewards (fully customizable). Stakers can also get extra boosts using our in-house $UNCL token. Stakers, increase your staking weight by burning our $UNCL utility token and earn additional rewards

UniCrypt Network recommends using boosting tiers rather than linear timelines, since communities will be incentivized properly to commit longer to the ecosystem of their choice.

4️⃣ Top-ups and APR:

Reward pools can be topped up by the creators. Adding new rewards removes the friction caused by gas fees as farmers are no longer required to pay for gas fees. If a pool creator is willing to adjust the APR for a specific reward, this is also a supported feature.

5️⃣Reward switching:

Without having to unstake, the rewards can be switched at any time.

A project can decide to reward its users with Wrapped Bitcoin for a certain period and then switch to Wrapped BNB later on. Users will get an alert on the app dashboard and just like that, more rewards with no gas fees!

🔥6️⃣️ Cross-chain farming (deployment early March 2022):

Our staking and farming product supports cross-chain-farming with the use of our in-house oracle system. Depending on reward allocations, users can stake once and earn everywhere at the same time. This flexibility is particularly well suited to utility tokens that are already split across different chains.

Let’s illustrate with a concrete example:

A wallet staking the token XYZ on the Ethereum chain could be rewarded DAI on Ethereum chain, while also earning USDC on Binance Smart chain and USDT on Polygon. Or in fact any combination of scenarios you can think of.

$UNCX Staking & Rewards

Aha! Time for us to use our in-house capabilities isn’t it? The UniCrypt community has been waiting for long enough.

🏄‍♂ ️Let’s dive straight into the $UNCX Staking (MASSIVE) program.

Users are required to stake their $UNCX tokens on the Ethereum chain. However, related to rewards, make sure to read the FAQ below.

What are the rewards for UniCrypt Stakers?

Phase 1️⃣️: During the first weeks (maximum 4 weeks), $USDC will be rewarded to $UNCX stakers on the Ethereum chain.

The staking rewards allocation starts on Monday 28th of February 2022.

▶ The link to access the staking pools is available here

Phase 2️⃣: Without any additional gas fee and starting from March 2022 the $UNCX stakers will then have the possibility to subscribe to $USDC and $UNCL rewards on Binance Smart Chain (BNB Chain)

Metrics & Tiers

We have in place 3 different tiers related to $UNCX staking pools. The minimum staking period is 1 month. Open it here!

  • Tier 1: Min. 100+ $UNCX Staked, no maximum: Farm Link
  • Tier 2: Min 20 — Max 100 $UNCX Staked: Farm Link
  • Tier 3: Min 3 — Max 20 $UNCX Staked: Farm Link

💡Your very own APR will vary depending on your tier and also depending on your boosting parameters ($UNCL boost/time-based boosts - see the section below).

💲The total reward amount allocated for the first month of staking (starting Feb 28th, 2022 — Phase 1 described above) is 170.000 $USDC.

These rewards are split for each tier following the rule below.

  • T1 (100+ $UNCX) gets 50% of the total reward amount (85k $USDC)
  • T2 (20–100 $UNCX) gets 30% of the total reward amount (51k $USDC)
  • T3 (3–20 $UNCX) gets 20% of the total reward amount (34k $USDC)

💡 Important note: the above metrics are ONLY applicable for the first month. Once stakers have entered the pool and the APR is stable, we will review.

This review will then allow the UniCrypt team to fine-tune the emission of rewards as soon as we activate Phase 2 (BNB Chain cross farming).

💲The emission rate of $USDC planned for Phase 2 (starting March 2022) is 150.000 $USDC/month.

🦄 The exact emission rate of $UNCL planned for Phase 2 (starting March 2022) is NOT defined yet.

We will provide the community with this information as soon as possible, we first need to monitor the burn rate of $UNCL over this boosting utility.

Boosting your $UNCX Stake

Once you have selected which pool you want to enter based on the tier system, time to boost your $UNCX Stake!

1️⃣⏰ Time-based boost

The longer you plan to stake, the better the rewards. The time-based boost is common to all tiers and allows stakers to boost their ‘staking weight’ among other stakers. The minimum staking period is 1 month, on the table below you will find how to boost your rewards.

  • Stake (locked $UNCX) for 1 additional month: +10%
  • Stake (locked $UNCX) for 2 additional months: +25%
  • Stake (locked $UNCX) for 3 additional months: +35%
  • Stake (locked $UNCX) for 1 additional year : +100%

Documentation link if needed : here

2️⃣🔥$UNCL Burning boost

The other way to boost your $UNCX stake tokens is using our $UNCL utility token.

In short, you will burn $UNCL and this will boost your ‘staking weight’ among other stakers on top of the time-based boost. This means you can combine both options.

$UNCL boosting allows up to a max. +100% bonus. Each tier (T1, T2, and T3) has a different maximum $UNCL burnt value to reach the maximum bonus.

  • T1 (100+ $UNCX) : Burn up to🔥300 $UNCL to reach +100%
  • T2 (20–100 $UNCX) : Burn up to 🔥200 $UNCL to reach +100%
  • T1 (3–20 $UNCX) : Burn up to 🔥150 $UNCL to reach +100%

Documentation link if needed: here

How to stake $UNCX tokens

To enter the $UNCX staking pools, the steps are simple:

1️⃣ Hold $UNCX token on Ethereum chain. Our token can be found on all the listed exchanges from our documentation page HERE. Alternatively, you can also check on Coingecko or CoinMarketCap.

2️⃣ Open our app to browse the farming section or use this direct link to the $UNCX staking pools

⏰3️⃣Connect your wallet, select the amount you are willing to stake without forgetting the time-based boosting option. If needed, our documentation is available here to help you. Documentation link here.

4️⃣ You can now subscribe to available rewards! You need to subscribe to farms to be able to earn rewards. If not subscribed, it will not be a possibility to harvest them later on. Documentation link here.

🔥5️⃣ Time to boost your $UNCX stake by leveraging the utility of the $UNCL token. The token is available on Uniswap, right here. Alternatively, you can also check on CoinGecko or CoinMarketCap.

💲💲6️⃣ Harvest rewards! Whenever you would like to, your earned rewards can be claimed from the rewards pool(s) you are subscribed to. You can do that straight from the staking pool page here. Any doubts ? We have a detailed doc article for you here.

Now, you know everything! Let’s summarize in a few sentences:

▶️ $UNCX stakers are not earning themselves $UNCX, as per the deflationary nature of the asset.

▶️ $UNCL will enter the market through $UNCX stakers earning rewards

▶️ $USDC is rewarded to $UNCX stakers (💡company sharing profit, UniCrypt Network is an EEA-regulated profitable company since day 1, June 2020)

▶️ $UNCL supply will not overinflate, as per the max ratios defined here. $UNCL gets burnt through multiple use cases

💡The $UNCL staking boost is just one utility among others, you can check burnt $UNCL accrued in this & that wallet (coming from other utilities).

Closing thoughts

We sincerely hope that our community OGs and newest members will enjoy this massive incentive program. UniCrypt team will monitor the farms as much as needed to ensure the smoothest staking experience possible.

We are quietly delivering disrupting Defi services one after another, which leads me to reveal here our upcoming releases will be related to:

  1. Immediate ILO adjustments to meet market demand, a dedicated Medium article can be found here.
  2. Multi-Chain innovative AMM (Decentralized exchange, not another copypasted fork) supporting AVAX, Cronos, BNB Chain, and Pulsechain.
  3. Delivery of the roster of current services (minters, vesting, LP lockers, ILO platform, and staking/farming platform) on top of FTM and AVAX blockchains.
  4. Delivery of LP lockers and vesting services on top of SOL blockchain while working on the Elrond integration.
  5. Upcoming info-as-a-service product ready to go, pending the deployment of the AMM (point 2)
  6. I leaked enough information, but that’s not everything we work on at the moment. Stay tuned, and STAKE!

Have a wonderful day everyone!

Chav & Mark (aka 👊Antoine & James 👊), UniCrypt Co-Founders.

🐦 Twitter: Unicrypt Network

🖥️ Website: Landing website| App

💬 Telegram: Unicrypt Network | 🤖 Telegram LP Locks

🥏Discord: Unicrypt Network

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Multi-chain decentralized services provider — Built from the ground, permanently ignoring market conditions and delivering disruption.

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UniCrypt Network

UniCrypt Network

Multi-chain decentralized services provider — Built from the ground, permanently ignoring market conditions and delivering disruption.

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