Connect with us

Press Release

UTONIC Protocol Partners with 10+ AVS Providers to Bring a Paradigm Shift to TON Restaking

Published

on

UTONIC Protocol, the first restaking platform built on The Open Network, today announces its latest alliance with notable AVS (Actively Validated Services) providers from the TON and Telegram ecosystem.

Being the first restaking protocol for TON, UTONIC aims to extend TON Network’s security to thousands of Telegram applications and build the revenue-sharing layer for one billion users.

Background

On Oct 12, 2024, UTONIC team submitted a proposal to TONResearch, seeking to enhance the security of the growing number of applications in Telegram, increasing the value and yield of TON assets, and encouraging more TON holders to participate in staking.

The original proposal can be found at https://tonresear.ch/t/introducing-ton-restaking-the-utonic-approach/38260

How does UTONIC and Restaking AVS work?

By repurposing staked assets, users can secure Actively Validated Services (AVS) within the UTONIC network while consenting to grant additional enforcement rights over their staked assets. This opt-in feature introduces supplementary slashing conditions tailored to the specific needs of validated services, such as wallets, bridges, or oracles. These slashing conditions enforce participant integrity, ensuring the security of applications leveraging UTONIC is maintained.

UTONIC functions as a marketplace where developers can incentivize operators to allocate their restaked TON for securing their services. This represents a significant improvement over the traditional approach, where applications often need to issue highly inflationary tokens as rewards for validators and build a new trust network from the ground up. With UTONIC, developers can leverage on the security provided by restaked TON assets, drastically reducing the financial and time investment required compared to establishing a new trust network from scratch.

Bringing Real Yield and Use Cases to the TON Ecosystem

Through UTONIC’s restaking approach, the security of dApps and protocols on TON and Telegram can be strengthened. Companies and projects are incentivized to restake TON, further maximizing the security and revenue stream for their protocols.

Unlike many popular Telegram mini-apps that are built on Telegram but have not interacted with the TON blockchain, UTONIC uplifts the yield opportunity for applications built on TON, encouraging innovations and foraging use cases for the TON blockchain. Although the TON and Telegram ecosystem has a large user base of more than 1 billion users, the majority of these users are smaller-scale retail participants.To attract larger-scale professional and institutional DeFi participants, the TON ecosystem needs to meet a stricter security and decentralization standard. UTONIC addresses this gap by offering AVS, ensuring the high security standards required for DeFi growth. The UTONIC restaking approach is a significant move for Telegram Web2 applications, as most of these scenarios are currently centralized and lack trustworthy operators.

Applications such as sidechains, data availability layers, keeper networks, oracle networks, bridges, threshold cryptography schemes, trusted execution environments, etc, who leverage on TON’s strong user base of 1 billion users, are particularly sensitive to security risks. By utilizing AVS provided by UTONIC, these applications can operate in a secure environment, which is essential for gaining trust from builders and incentivizes their integration into the TON ecosystem.

An Innovative Attempt on Incentive Distribution

Being veterans in the DeFi industry, UTONIC proposes an innovative approach in distributing incentives, to foster a healthy equilibrium between the protocol, AVS, and restakers.

Instead of allocating incentives to “farm & sell” type of users, mostly whales, which might create a huge sell pressure, UTONIC will integrate veTokenomic model, inspired by Curve Finance, to direct more incentives towards long-term supporters and partners with selected AVS providers, to bring real yields to TON holders.

Lemon, Co-founder of UTONIC Protocol: “UTONIC not only enhances application security but also drives sustainable growth in the TON ecosystem. By establishing an incentive structure that benefits all builders and users, we ensure a system that encourages long-term participation and creates more value for the whole TON ecosystem.”

Contact:

lemon@utonic.org

Lemon Lin

https://utonic.org/

About Author

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

Continue Reading

Press Release

UVKXE Releases Anti-Scam Guide, Enhancing User Security Protections

Published

on

DENVER — Recently, the globally renowned cryptocurrency trading platform UVKXE has published its latest anti-scam guide to address the escalating threats of online scams, establishing a comprehensive protective barrier for users worldwide. The guide focuses on various scamming tactics prevalent in the cryptocurrency sector, highlighting what users should be aware of during transactions and asset management, while also providing effective preventive measures.

Kevin Anderson, CEO of UVKXE, noted: “As the cryptocurrency market continues to expand, more cybercriminals are turning their attention to cryptocurrency users, developing sophisticated scam techniques. As a well-known platform in the cryptocurrency trading field, UVKXE has a responsibility to help users identify and mitigate these potential risks. Through the release of this anti-scam guide, we aim to further enhance user awareness and safeguard their digital asset security.”

The guide outlines the common characteristics of these scams, such as phishing emails that typically use UVKXE or similar official-sounding names, along with forged logos and links, to deceive users into providing their login credentials and sensitive information. It also advises users to always choose official channels when downloading applications to avoid malicious software. Furthermore, UVKXE emphasizes that the platform will never proactively request users to provide sensitive information such as passwords or verification codes in any form.

In addition to the anti-scam guide, UVKXE will launch a series of interactive activities, utilizing community forums and video tutorials to educate users about safety knowledge and help them recognize and respond to potential threats. The UVKXE security team stated that these activities will not only provide real-time updates on scams but also offer users opportunities for direct communication and inquiries.

The investment in technology and education is reflected not only in the publication of the anti-scam guide but also in daily operations and maintenance. Kevin Anderson concluded: “Every protective measure and security technology implemented by UVKXE is designed to ensure the safety of user assets. In the future, we will continue to advance this mission, providing users with safer and more convenient cryptocurrency trading services.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

About Author

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

Continue Reading

Press Release

UVKXE Clarification Statement: A Legally Compliant Trading Platform with International Accreditation

Published

on

DENVER — Recently, the Securities Commission Malaysia (SC) published a list on its official website of cryptocurrency trading platforms that have not met its local registration requirements, mentioning UVKXE. UVKXE takes this matter seriously and wishes to clarify its credentials and compliance status to its users.

Global Compliance Credentials of UVKXE

UVKXE is committed to operating under legal and compliant principles, upholding a user-first core value. The platform has obtained several certifications from international authoritative regulatory bodies, including but not limited to:

U.S. MSB License
UVKXE has obtained the MSB license issued by the U.S. FinCEN. This certification represents the highest recognition by the U.S. government for financial service institutions, ensuring that UVKXE can legally conduct cryptocurrency-related business.

U.S. SEC License
As one of the few cryptocurrency trading platforms registered with the U.S. Securities and Exchange Commission (SEC), UVKXE complies with securities and investment-related legal regulations, providing users with a safer and more transparent investment environment.

Background on the Malaysian Public List

The list published by the Securities Commission Malaysia mainly targets trading platforms that have not met local registration requirements, such as Binance and Bursa Malaysia, rather than denying the platform legality. UVKXE has obtained multiple authoritative licenses internationally, and its compliance is beyond doubt. UVKXE is in communication with relevant departments to understand local specific regulations and to advance the registration process, ensuring compliance with local market requirements.

Commitment to Legal Compliance and User-Centric Values

UVKXE will use this event as an opportunity to further enhance its global compliance framework, actively adapting to regulatory environments in various countries, and providing users with more professional and diversified financial services. We sincerely thank all users for their trust and support! UVKXE promises that no matter where it operates, the platform will always adhere to the core philosophy of “user-first”, moving together with global users towards a safer, more open, and transparent new era of the digital economy.

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

About Author

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

Continue Reading

Press Release

UVKXE Strengthens Security Strategy, Leading Innovations in Anti-Scam Technology for Crypto Platforms

Published

on

DENVER — Recently, the globally recognized cryptocurrency trading platform UVKXE officially announced the completion of its latest security system upgrade. This upgrade significantly enhances the cybersecurity defenses of the platform and introduces cutting-edge anti-scam technologies. Through this technological update, UVKXE demonstrates its commitment to user asset security and proactive measures against potential future cyber threats.

Kevin Anderson, CEO of UVKXE, stated: “User trust is the foundation of UVKXE, and ensuring the security of user assets is always our top priority. This security system upgrade incorporates AI deep learning, real-time risk control, and efficient anomaly detection algorithms, aiming to create a safe and trustworthy trading environment for users. We will continue to optimize the security measures for user assets, ensuring that every user can trade confidently on UVKXE.”

The focus of this security system upgrade is primarily on anti-scam technologies. In response to the ever-evolving online threats and scam tactics in recent years, UVKXE has strengthened its multi-layered protective mechanisms, effectively enhancing the security and responsiveness of the system. The upgrade introduces AI-driven anti-scam technology, which intelligently analyzes user behavior through deep learning algorithms, allowing for rapid identification and isolation of suspected scamming activities. The AI anti-scam system can monitor and analyze large volumes of trading data in real time, immediately freezing any suspicious transactions or account activities to safeguard user assets.

Kevin Anderson further explained: “Traditional anti-scam methods often rely on post-event analysis, whereas the new system of UVKXE can identify risks promptly before incidents occur, taking immediate action to prevent losses.”

In terms of anomaly detection, the system of UVKXE combines the transaction histories, asset conditions, login locations, and other multidimensional data of users to accurately pinpoint potential security vulnerabilities. Through anomaly detection technology, each user login and transaction can be monitored in real time, with timely alerts prompting users to confirm actions, further enhancing the security of the platform.

Kevin Anderson concluded: “We hope every user can enjoy a secure trading experience on UVKXE. By continually optimizing our security strategies, we aim to provide a safer and more convenient cryptocurrency trading experience for our users.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

About Author

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

Continue Reading

LATEST POST