uxuy

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![原图.png](https://m.stacker.news/13270)
Crypto infrastructure, Layer2, and GameFi projects are booming. As stated in The UXUY Crypto Equity Manifesto , countless innovations are sprouting and the barriers between ecosystems are being broken down by the flow of cross-chain transactions. However, another invisible barrier has formed within blockchain ecology: Launchpad has gone to the opposite side of equity.

The value capture of tokens has become overly dependent on pledges rather than project innovation. The self-circulation of tokens within the ecosystem is creating a new round of inequity. Frequent on-chain interactions have dragged users into the quagmire of sky-high gas fees. Currently, the encryption industry lacks equity and a transparent approach to Launchpad.

With the UXUY Lightning Launchpad, we introduce a solution based on the Bitcoin Lightning Network. The Launchpad process is guaranteed to be equal and transparent through the native Invoice and a random number of the Lightning Network. The extremely low transaction friction cost of 0.000500 sat/sat (500ppm) reduces gas fee consumption. At the same time, the green and energy-saving characteristics of the Lightning Network and the non-ecological token pledge mechanism are used to meet the higher demand for Launchpad services from the community and industry.

This is the best embodiment of UXUY’s embracing of Bitcoin and the spirit of Satoshi’s vision of , establishing a “trustless” architecture that does not require reliance on any third party.

As Mr. Satoshi Nakamoto said:

I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party. — Satoshi Nakamoto（October 31, 2008）

The crypto industry is gradually moving towards green, efficient, innovative, equal, and transparent infrastructure.

UXUY Lightning Launchpad is exploring a new model that is equity, transparent, and based on the native consensus of the Bitcoin Lightning Network, calling on the crypto industry to launch Launchpad in a more equal way within each ecosystem. UXUY Lightning Launchpad will support more innovative, open, and transparent community projects to the greatest extent, and every participant should enjoy equal rights in the crypto world.

Encryption equity should be based on cryptography technology and a “trustless” mechanism, which requires the encryption industry to jointly create and maintain. We should not expect powerful centralized institutions and projects that rely on closed ecosystems to promote crypto equity. Pledges between tokens can never reflect the essence of crypto equity. Only innovation can bring more valuable new assets to the crypto ecosystem, rather than the Ponzi under an ecological closed loop.

An equal and transparent encryption environment is the best soil for innovation.

Therefore, we make the following commitments:

The UXUY Lightning Launchpad is based on the Bitcoin Lightning Network and uses solutions with minimal energy loss to promote the transition of the crypto industry to low-carbon technology.
The UXUY Lightning Launchpad process is completely open and transparent. The user’s winning method uses the Lightning Network Invoice random number (based on the Lightning Network’s native consensus). The issuance process is traceable and verifiable.
UXUY Lightning Launchpad relies on the low cost and efficient performance of the Lightning Network to ensure that the user’s Gas Fee loss is minimized.
UXUY Lightning Launchpad does not use Token self-circulation to capture token value. The value of new assets comes from the innovation of the project.
The UXUY Lightning Launchpad project does not restrict user transactions. The tokens are fully circulated on the market and there is no lock-up period.
UXUY Lightning Launchpad is completely community-driven and protects the interests of community members. All data on the chain is open and transparent and accessible to everyone.
UXUY sincerely invites more builders to join the UXUY Crypto Equity Manifesto, establish a transparent and equal Launchpad mechanism, create the most potential soil for innovation, and embark on a revolutionary Launchpad journey to enable every developer to invest in products that meet real needs as their core, are not restricted by the inherent token operating model of the encryption industry, and achieve complete decentralization, data transparency, and healthier token economics.

Everyone on earth can become a beneficiary.

The UXUY Crypto Equity Manifesto II — Lightning Launchpad

Author: Kevin / Founder of [UXUY](https://uxuy.com)

_On December 28,_ _last year__, we released the world’s first standardized indexer—_ _the_ _UXUY Indexer, officially serving the Inscription Track._ _As a multi-chain DEX, why_ _would_ _we build_ an _indexer? How do we view the emerging asset inscriptions? What predictions do we have for the future?_ _In this article,_ _I want to write down my thinking process and share it with everyone._

Inscriptions were formed on Bitcoin, born in Ordinals, and spread to the multi-chain ecosystem, and its growth has been wild. At this moment, we have to call on inscriptions to embrace Bitcoin and the spirit of Satoshi. This sentence is a bit abstract, and a more accurate description should be that inscriptions should follow the DMT Standard.

## So, what is the DMT Standard and why is it so important?

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=MjJjMzg3YTA2Zjg2ZmIxODA3YjA5Y2ZkMTM0MjI4OWRfS3JtT1pIZWdYWU1Kc0tEeFZ2VDh3eE9CcjAwajhvazlfVG9rZW46SmpWa2IyZDljbzZsakZ4ZW95MXVWSzRXc1diXzE3MDQ4ODI3NDg6MTcwNDg4NjM0OF9WNA)

**DMT** **is an abbreviation for** **Deploy, Mint,** **and** **Transfer.** I believe that all participants should have access to these three actions on the chain without relying on a centralized third party.

As Mr. Satoshi mentioned in the Bitcoin [white paper](https://bitcoin.org/bitcoin.pdf):

> A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution

Next, I will introduce to you the importance of inscriptions following DMT Standards, as well as the problems encountered by the current inscription track.

The first BRC20 inscription was born on March 8, 2023. BRC20 creator Domo used the Ordinals protocol to set the Inscription to JSON: by declaring a specific specification to simulate the logic of Token, and thus the first BRC20 inscription $ORDI in the encryption world was created.

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=ODI5OTZhNDQzZjE5NzE0ZTE1MzkyNzA4ZGFkYjkwNGJfTlc0OGZPUFVtMWsxeEZKQTdTRjJsaUxiTDg0ekNNMjRfVG9rZW46UjBEV2J1ZElkb2wxaU94cDN4QnVYZnJSc0plXzE3MDQ4ODI3NDg6MTcwNDg4NjM0OF9WNA)

When the inscription is just used to store code blocks on the chain, nothing is surprising. At this time, **the inscription is just an inscription**. But when the standardized inscription is processed and proved off-chain by the Indexer, everything changes!

> **The inscription transformed into an asset.**

Unlike other assets such as Token and NFT, inscription assets naturally have the following characteristics:

-   The attribute of the gas fee ensures that each inscription has a corresponding production cost (Gas). It naturally has asset attributes and is easily destroyed.
    
-   Decentralized Fairmint has brought about a paradigm shift in the primary market and spawned a carnival on the inscription track. Star projects such as $ORDI, $ETHS, $POLS, and others have gained widespread attention.
    
-   There is no project party, the asset's inscribed progress is visualized and everyone can check it.
    

  

In an instant, a primary market in which everyone could participate was like a shot of stimulants, igniting the enthusiasm of the entire encryption industry. It seems that a fairer and more "decentralized" era has arrived.

But, is this really the case?

In the excitement, I casually experienced the pleasure of "Inscribing" with a few tools outside of BRC20. When I minted a niche inscription on the ETH chain, I discovered a big problem: after the mint was complete, transactions and transfers could not be made! So, I checked the relevant information and found that public chains such as BTC, ETH, Polygon, and Avalanche define inscription transactions in completely different ways, and a trading gap is formed.

Currently, **the inscription market other than Bitcoin Ordinals and BRC20 is developing wildly in a "non-standardized" way, which runs counter to the original intention of Bitcoin and the spirit of Satoshi.**

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=OGI2MjBmMTAwNTQ4OThmYjMyMWM5MzIxMWIwODIzZDZfVTVvUkpuVndoQzRHczZiZDRKYU96S0duS2lRQ0ZXVTlfVG9rZW46WmpzYWJiUFZmb3kzSVp4RGVwdXVGcGFDc2RjXzE3MDQ4ODI3NDg6MTcwNDg4NjM0OF9WNA)

Therefore, we urgently call on the inscription market to follow the DMT Standard and ensure the liberalization of the establishment of inscriptions. Transfers and transactions should not rely on any centralized third party, nor should they rely on smart contracts for internal settlement and create liquidity obstacles.

For example, among the more than two million inscriptions on the ETH chain, nearly 99% of them simply complete Inscribe and do not support transfer transactions. The inscriptions are not even qualified to lie quietly in the wallet and are worthless.

**As mentioned above, the inscription you get by spending gas is just a string of code and completely lacks a transaction environment**. At present, only header inscriptions such as ETHS use the project party's smart contract for internal settlement and realize the so-called "transaction transfer" function.

Is this still what we were originally pursuing: a new paradigm of "decentralized" asset issuance?

In this regard, we are taking action: UXUY is actively embracing Bitcoin and the spirit of Satoshi, continuing to provide infrastructure services for the Inscription track, following the Standards of DMT, building a standardized indexer for Inscription, and exploring a new combination of Inscription assets + DeFi...

As stated in the 《 [UXUY Crypto Equity Manifesto](https://blog.uxuy.com/the-uxuy-crypto-equity-manifesto-97e0d0f7b612) 》: Trading is the only weapon to break down barriers. I always firmly believe that inscription is becoming the third largest asset after Token and NFT. Whether it is called SFT or Inscription, it can become the brightest star in crypto.

UXUY Indexer - Why inscriptions should follow DMT Standard

On December 28, 2023, [UXUY](http://uxuy.com), the next-generation decentralized multi-chain trading platform incubated by Binance Labs, announced the launch of the world’s first standardized indexer for the multi-chain inscription market—UXUY Indexer. This is the most important iteration of UXUY in the Bitcoin ecosystem after the Struck by Lightning plan. **It means that UXUY officially serves the inscription track as a builder, providing standardized indexing services for Bitcoin Ordinals, BRC20 and the entire inscription market.**

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=NWI4ZGJiYzA3YWQzZGNjZWMxNTRhNjU2Y2NhYjExOWZfUDJBeGI4ZmZBYmo1OFhBWngzM2ttclRUZlM5SVdIUzJfVG9rZW46RW93R2JmTGFab2t0bDl4aWFFYXVKQ1NXc2NnXzE3MDM3NTc1NDg6MTcwMzc2MTE0OF9WNA)

UXUY believes that inscriptions, as a new narrative in the crypto field, are becoming the third largest crypto asset type after Token and NFT. More value and innovation will be created here, and it will completely rewrite the way assets are created in the crypto industry.

UXUY Indexer will adhere to the principle of decentralization, fully embrace Bitcoin and the spirit of Satoshi, and build a solid infrastructure for the long-term prosperity and development of the inscription market.

**UXUY is willing to participate with more builders to promote inscriptions to become a phenomenon-level consensus in the encryption industry.**

As Satoshi Nakamoto wrote in 2009:

> _“It might make sense to get some in case it becomes popular. If enough people think the same way, it becomes a self-fulfilling prophecy.” (January 2009) — Satoshi Nakamoto_

## Inscription and Crypto Equality

At the beginning of its establishment, UXUY officially issued  **[Crypto Equity Manifesto](https://blog.uxuy.com/the-uxuy-crypto-equity-manifesto-97e0d0f7b612)**, proposing that **trading is the only weapon that can break down barriers**, advocating that various ecosystems should break down barriers, conduct cross-chain transactions, build a crypto ecosystem without walls, and jointly promote crypto equality, which coincides with the spirit of the inscription being highly consistent.

As a fairer way to create assets, inscriptions establish a complete trading market between various ecologies and explore new opportunities for innovation.

2023 is the first year for the cryptocurrency inscription market. The Ordinals protocol has completely ignited the inscription market. Currently, more than 50 million inscriptions have been inscribed on the Bitcoin network, and the cumulative inscription casting fee is as high as 5039 BTC, which is approximately US$215 million.

At present, the development of the inscription track is still in its early stages. The inscription specifications among various ecology are not the same, and there is no real-time trading of inscriptions. On the Ethereum ecosystem, more than two million inscriptions have been minted, but most of them are in a state of dissociation, with no transactions or transfers occurring.

The of the inscription has just begun...

UXUY believes that the discovery of value must be based on transactions, and this is especially true for the inscription market. UXUY will actively improve the infrastructure of the inscription market to safeguard cryptographic fairness among various ecosystems. UXUY adheres to the principle of cryptographic equality, serves the inscription market, provides infrastructure for the construction of the inscription market, actively maintains the on-chain storage and off-chain computing functions of the indexer, and creates a more friendly off-chain environment for inscription transactions.

In this regard, **UXUY proposed that the Inscription market should abide by the idea of DMT (Deploy, Mint, Transfer), and Inscription should not rely on any project party to complete transaction transfers.**

UXUY will establish the first inscription infrastructure that embraces Bitcoin and the spirit of Satoshi. Based on serving the entire inscription market, it will open up the inscription transaction barriers of various public chains and Layer 2, connect every corner of the crypto continent, and promote the consensus of crypto equality. Illuminating more emerging assets.

## Why we need an indexer

The indexer is an important part of the Inscription world. It is used to track the wallets, quantities and other information of the Inscription tokens held to ensure that the Inscription market of cryptocurrency operates effectively.

The inscription data is only stored on the chain and is an original certificate. The update and check of the data rely on the indexer to solve the problems of indexing, retrieval, and settlement of the inscription ecological data.

At the same time, the indexer reads all inscription transaction information, checks which inscription is "deployed" first, and maintains the "First is First" criterion. By tracking which wallets deployed the original token supply, what the maximum limit was, when minting was terminated, and the traceability of those token wallets in the secondary market’s “Transfer”.

Without indexers, inscriptions would be limited to indistinguishable Josn text files, and the market for inscriptions would cease to exist.

## Embracing the spirit of Satoshi

UXUY actively embraces Bitcoin and the spirit of Satoshi, and is based on conducting inscription transactions and transfers through native protocols without relying on any project parties. UXUY calls on the market to adhere to the Declaration of Crypto Equality, abide by DMT ideas, and actively embrace the inscription infrastructure of Bitcoin and the spirit of Satoshi.

Bitcoin has revolutionized the world through a trustless system for financial transactions without intermediaries, and Inscription creates a fairer and more decentralized way of asset development, and the entire encryption industry will enter a "trustless" era.

UXUY launches the world's first standardized indexer

![](https://miro.medium.com/v2/resize:fit:875/0*ifCkzbfwoo1mL4Nk)

In 1492, Christopher Columbus, adorned in a Tricorn Hat, charted a course across the Atlantic, marking the beginning of an era steeped in maritime trade and economic rivalries. The spirit of exploration and perseverance, encapsulated in Columbus’s timeless words —, “You can never cross the ocean unless you have the courage to lose sight of the shore” — continues to echo through the ages.

From the Middle Ages to the present, voyages have been synonymous with boundless wealth and hope. Dear navigators, the time has come to embark on your great journey! UXUY proudly Columbus Program — a quest for the next wealth story, where BTC and ORDI’s potential 10,000-fold increase awaits, and you have the chance to take part.

![](https://miro.medium.com/v2/resize:fit:875/0*LdQ42zjF9ru1C6pk)

## **The Treasure Map Unveiled:**

UXUY is now officially launching the Columbus program, calling forth navigators to seek new riches. This treasure map is not for the faint-hearted; it’s a call to warriors and history-makers. Before setting sail, don the UXUY TricornHat, the symbol of your readiness for adventure.

## T**ricornHat for the Bold:**

Attention, brave navigators! 999 adventurers will be chosen to receive the TricornHat, a crucial passport for rewards and activities. Like Columbus, wear it high as you embark on this extraordinary journey.

## ✅  **Qualify by Meeting Conditions:**

To be part of this round, meet these conditions:

-   Download UXUY APP
-   Join UXUY Telegram
-   Follow @uxuycom on Twitter
-   Retweet the event on Twitter and tag 3 friends

👉  **Join the event on QuestN:** [**https://app.questn.com/quest/851699778274754867**](https://app.questn.com/quest/851699778274754867)

## 🎁  **Legendary Treasure Awaits:**

As the ancient battleship “Black Pearl” sets sail again, we’re doing something different this time. Join us in the search for legendary treasures. Participate in challenges, gather your crew, and, as a captain, receive a magical Legendary Treasure Chest filled with exclusive privileges, airdrops, and more.

## **Explore Rare Lightning Addresses:**

Bet your energy on the most promising places during this voyage — the Bitcoin Lightning Network. Exchange Legendary Treasure Chests for rare lightning addresses (e.g., hello@uxuy.com) and unveil the lavish world of DID with a six-digit lightning address.

## **Earn Columbus Points:**

Complete your mission and earn Columbus Points; these are the keys to your next journey.

This voyage is beyond treasures. It’s the greatest adventure of your life. Set sail today, wear your Tricorn hat, and discover wealth with UXUY. Learn more at [uxuy.com]

## **About UXUY**

UXUY is a next-generation decentralized multi-chain trading platform incubated by Binance Labs and based on MPC wallet.

UXUY actively participates in the construction of the Bitcoin Layer2 ecosystem, fully integrates into the Bitcoin Lightning Network and Taproot ecosystem, provides users with lightning address DID services, and becomes an important bridge connecting the Bitcoin and Ethereum ecosystems. UXUY provides traders with instant cross-chain transaction services for coins, tokens, and Inscriptions between various public chains by establishing uPool centered on stablecoins. It is currently connected to public chains and Layer 2 such as Bitcoin, Ethereum, BNB Chain, Polygon, Tron, Optimism, Arbitrum, Avalanche-C, Fantom, Linea, and Base. Provide social trading functions, create Gas solution GasPool, provide users with a CEX-like trading experience, and significantly reduce the threshold for on-chain transactions.

UXUY launches Project Columbus, calling on brave navigators to wear TricornHat, start the Age of Discovery, and jointly search for Where 100x Happens!


Columbus Program: UXUY TricornHat is Here!

The price of Bitcoin has stabilized at the $40,000 mark, and with that, a wave of Ordinals and BRC20 inscriptions is sweeping across the entire Web3: As of December 2023, it took people less than 1 year to pay 3,363 Bitcoins as Gas fees for engraving and trading inscriptions, which is equivalent to $130 million. This is undoubtedly a huge expense, **but behind the story of ORDI’s thousand-fold increase in wealth, more BRC20 inscriptions have been dragged into the quagmire of “sky-high gas consumption**”. This wave of inscriptions and the corresponding pricey fees is evolving into a funfair for miners and burden for users.

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=NjE1YWZjZTJjMTliMTQzNDE2NTkxYTE1OWM0MGJlMGJfTTFKU2JMQmM5bEpUNEtWeFdnMTlvR3VtVDZYRUdUZ2RfVG9rZW46T1RIU2J3WEdOb0FFM3l4bTZ2RnUzMmpaczdlXzE3MDE4Njc3MjQ6MTcwMTg3MTMyNF9WNA)

UXUY officially announced its support for Lightning Network and Lightning addresses on December 5, 2023, becoming the world's first DEX to support Lightning Network. In the same vein, the Layer 2 plan initiated by UXUY — “Struck by Lightning” began.

The goal at UXUY is to go all out to help users rescue themselves from paying sky-high gas fees through the Lightning Network, and to truly achieve a transaction experience with zero gas fees, and millisecond transfer, using Bitcoin's native consensus.

Users can activate the lightning address DID service (such as hello@uxuy.com) by using the latest version of UXUY APP, and can **receive up to 5,000,000 Bitcoin Sats airdrops**. Currently, nearly 10,000 users from more than 40 countries and regions have participated in the event and successfully received the airdrop reward.

## Reintroducing the Lightning Network

As Bitcoin Layer 2, the Lightning Network has successfully solved the problems of long block confirmation on the Bitcoin main network and expensive gas costs. Relying on the security of the Bitcoin main network, it has become Layer 2 with the most potential . Currently, The Lightning Network has a total of 5,080 BTC stored, and more than 1.16 million unique users use it for transactions and payments every month, and this amount continues to grow.

On October 18, 2023, Lightning Labs officially released Taproot Assets, which launched the Bitcoin Lightning Network into the multi-asset era. Since then, it has become possible to issue digital assets and stablecoins on the Lightning Network.

Kevin, the founder of UXUY, once published an article on his blog entitled "[Stablecoins are the biggest variable in the Bitcoin ecosystem](https://blog.uxuy.com/stablecoins-the-biggest-variable-in-the-bitcoin-ecosystem-36b3bd9db952)", in which he mentioned:

> There is currently $126B in stablecoin market size, and it does not run on Bitcoin at all. Five years later, let us look back at this data, and we will get a brand new answer. This is the biggest variable in the Bitcoin ecosystem in the next five years. This is a challenge for UXUY, but also an opportunity for UXUY.

The introduction of the Lightning Network into stablecoins will not only increase the scale of payment scenarios, but also improve the convenience of transactions with native Taproot Assets in the Bitcoin ecosystem. Traders can not only trade diversified assets, but also enjoy the ultimate experience of zero gas fees.

Soon, we can see: **encrypted assets on the Lightning Network, stablecoins on the Lightning Network, and Bitcoin on the Lightning Network**... The Lightning Network breeds unlimited possibilities for Web3. With this conviction in mind, UXUY launches this round of airdrops to provide users with free Lightning address DID services, which will become the passport of the new era of Web3, allowing users to have smooth access to the Lightning Network ecosystem.

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=MGVkNmQ1OGU4ZGNjZGJkMmRmYzZmZmJiNWRiMDE1MDhfcTNjdTdwUUhvaFBYTDk1cVEyM2JLV1JmSnZtcTB1Y2pfVG9rZW46R1VDOWJ6VVFLb2ZCQjd4NVV0NHV5Vk5tc3ZkXzE3MDE4Njc3MjQ6MTcwMTg3MTMyNF9WNA)

_Users from all over the world share the joy of receiving Bitcoin on the X platform_

## All In on the Bitcoin Track

As a DEX, UXUY is fully betting on the Bitcoin track.

On June 16, 2023, UXUY released, "[Why did UXUY choose to support .sats ahead of the Bitcoin ecosystem boom?](https://stacker.news/items/220891)", officially entering the Bitcoin ecosystem. After that, UXUY launched the Struck by Lightning plan:

-   On October 13, 2023, UXUY officially implemented a Lightning Network node and became the first DEX to run a Lightning Network node.
    
-   On October 18, 2023, UXUY discovered a major vulnerability in the Lightning Network and submitted bug modification suggestions, becoming a core contributor to Lightning Labs
    
-   On October 30, 2023, UXUY fully supports Bitcoin Taproot assets
    
-   On November 6, 2023, UXUY launched Taproot Assets block explorer V1.0
    
-   On November 13, 2023, UXUY launched Project Columbus to mint $TAPROOOT assets and conduct network-wide airdrops
    
-   On December 5, 2023, UXUY launched the lightning address service, becoming the world’s first multi-chain compatible address service
    

**We are** **different from traditional Bitcoin maximalists**. Before connecting to Bitcoin and Lightning Network, UXUY connected to more than ten public chains such as Ethereum, BNB Chain, Polygon, Tron, Optimism, Arbitrum, Avalanche-C, and Fantom. and Layer2, UXUY, is leveraging the convenience of the Lightning Network to reconnect the entire crypto continent.

UXUY: World’s first DEX to support Lightning Network,launch Bitcoin Sats airdrop

Crypto market excitement has been focused on Turkey throughout November. The two conferences Binance Blockchain Week and Devonnect 2023 were held as scheduled. Developers, founders, influencers, traders, institutional investors, and regulators from around the world gathered in Istanbul to discuss the future of blockchain and Web3. A full discussion took place.

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=ZWE4NGQxNGRiYWVlOWU4ODNkZmIzMWNjYjE2NDdlMDhfeGhYZGw1YjVtWUJWUndaaE0wUlRUVjBXTUhJa2ZkZ0pfVG9rZW46SlNpSmJQOVZHbzZMRmt4Tk5TaHVpZ2xwc25iXzE3MDEyMjYxNDU6MTcwMTIyOTc0NV9WNA)

_A photo of Jordan and Binance’s new CEO Richard Teng_

  

On November 8, 2023, UXUY co-founder Jordan attended the conference as a speaker at Binance Blockchain Week and had his first face-to-face communication with Binance’s new CEO Richard Teng. The next day, Jordan innovated at Binance Blockchain Week A speech entitled "UXUY Connects Bitcoin and BNB Ecology" was delivered on stage. On November 13th, the UXUY team participated in the Devonnect conference, listened to Vitalik Buterin’s new views on Plasma, and had a full discussion with encryption practitioners.

As the intersection of East and West, Istanbul has naturally become the intersection of ideological collision between Eastern and Western encryption practitioners. UXUY is very excited to come to Turkey and participate in these two events. This article will share with you a new perspective from Istanbul.

## Richard Teng: The future of decentralized finance is bright

In the speech of Binance Blockchain Week, Binance's new CEO Richard Teng's speech left a deep impression on the UXUY team. During the conference, Binance officially launched the Web3 wallet. Richard Teng showed everyone the application interface of the Web3 wallet. Trading steps, etc., won applause from the audience.

Richard Teng said that cryptocurrencies are developing rapidly and the future of decentralized finance is bright. There are two key factors. The first is institutional adoption. Compared with three to five years ago, the world's major financial institutions BlackRock, Fidelity, and ChildSwap all have cryptocurrency agendas and blockchain agendas, promoting initiatives such as ETFs. , bringing new investors into the cryptocurrency industry, which will be hugely incremental. Second, regulators around the world are spending a lot of time and effort trying to understand it. Efforts to come up with a regulatory framework to regulate this space will further instill trust and bring new users to the crypto industry.

When talking about why Istanbul was chosen to hold this conference, Richard Teng said that the survey showed that about 40% of Turkish residents actually hold digital assets, a significant increase from 16% three years ago. What is more important is that the trading volume of crypto assets continues to increase. rise. In terms of transaction volume alone, Turkey is currently one of the top countries in the world, and digital assets have a very bright future, so we will continue to support the development of the crypto industry in the region, which is why we chose Turkey.

## Vitalik Buterin: Thanks to the technological advancement of zk-SNARKS, Plasma is back in the spotlight

At the Devonnect 2023 conference, Ethereum co-founder Vitalik Buterin took the stage to speak. He made no secret of his love for the Plasma solution, viewing it as a blockchain scaling solution that can circumvent existing data availability issues. The Plasma network was originally created in 2017 and can be considered a “child” chain of the Ethereum mainnet. They execute transactions outside of Ethereum using their own block verification mechanism, and then periodically publish the final state back to the mainnet. With Plasma, all data processing and computing tasks are kept out of the Ethereum mainnet—only the final verified state is published to the chain, so less data takes up Ethereum block space.

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=N2YzMTgzYWFmNTlkZTBmZmRiM2NhZDMxMWI5YjVjZmJfamdHdlR3dDRKN2dmczZDcjFpVFVJMWpzelFnZXJzN0lfVG9rZW46RHFKYWIwcEJQbzBDbG14VFVka3VacVhOczNiXzE3MDEyMjYxNDU6MTcwMTIyOTc0NV9WNA)

Vitalik Buterin said Plasma is not being considered by the current crop of innovators because of its high cost in terms of client-side data storage and its application limitations.This makes it difficult to build Plasma-powered applications that do more than simple payments.Operators on Plasma chains create new blocks in the form of a root of a Merkle tree.This means that every time there is a transaction, you can step through the tree to find the owner of that transaction. If an operator chooses to misbehave by publishing an invalid or unavailable block, the owner of the transaction will have 7 days to undo it by proving they are not the latest owner, there is a double spend, or there is a history of invalidity Record. Buterin explains that this can create an inefficient and clumsy process in the real world.

Plasma still has shortcomings, Buterin said, although zk-SNARKs and proof of effectiveness can solve major problems with previous plasma designs, there are still limitations. Take the Uniswap liquidity provider position as an example: "If you exchange USDC for ETH in a Uniswap position, you can try to withdraw the USDC before the transaction and the ETH after the transaction. If you collude with the Plasma chain operator, the liquidity provider and other users will not have access to the post-transaction state, so they will not be able to withdraw post-transaction USDC. Rollups remain the gold standard and have unmatched security features. This is especially true from a developer experience perspective: nothing can compare On top of the simplicity for application developers, without even having to think about ownership graphs and incentive flows within the application. Plasma allows us to sidestep the data availability issue entirely, significantly reducing transaction fees. Plasma can be a significant security upgrade for chains that would otherwise be validiums.

## UXUY stands at the forefront of the industry

After the conference, the UXUY team left the charming Istanbul. It can be clearly felt that more and more people are entering Crypto, and the footsteps of "the next billion" are getting closer and closer.

As the next generation decentralized multi-chain trading platform, UXUY naturally has the advantage of decentralization. With the help of MPC technology, it can significantly lower the threshold of DEX. As a core contributor to the Lightning Network, UXUY actively promotes the construction of Bitcoin Taproot Assets infrastructure, explores cutting-edge areas, connects more values, and jointly shapes our decentralized future.

Major Highlights of the Istanbul Devconnect 2023 attended by the UXUY Team

Author: Kevin, Founder of UXUY

## Subtitle

The current $126B stablecoin does not run on the Bitcoin network and Taproot Assets will change this.

## Article

I have participated in many Bitcoin Layer 2 panels recently, and everyone is discussing how to move Ethereum’s smart contracts and ecological projects to Bitcoin. My idea is a little different - the success of Ethereum has its specific environment, community, and opportunities. History will not simply repeat itself. In my opinion, the first round of explosions of the Bitcoin Taproot Assets protocol will most likely occur in the stablecoin field.

## Bitcoinizing the U.S. Dollar

Lightning Labs launched Taproot Assets with the goal of “Bitcoinizing” the U.S. dollar. As Stark, the founder of Lightning Network, said:

> Taro helps Bitcoin in numerous ways, including onboarding people to Bitcoin through fiat where they can easily swap between assets. This is particularly useful in a high-inflation environment, as many people around the world live in economies where their currencies are continually losing value. Thus, Taro helps facilitate fiat to Bitcoin rails. Further, as Taro uses bitcoin liquidity to route assets issued on the protocol, there will be greater demand for bitcoin on the Lightning Network. As a result, bitcoin will route dollars, fiat, and everything in between. _**This is how we bitcoinize the dollar.**_

In many third-world countries, a silent revolution has begun. El Salvador, Mozambique, Brazil, Nigeria, Senegal, and other African and Latin American countries have begun to use the Bitcoin Lightning Network. The financial systems of these countries are not yet covered by banks, resulting in the widespread acceptance of Lightning Network payments.

Due to the frequent price fluctuations of Bitcoin, the need to build stablecoins on the Bitcoin Lightning Network is becoming increasingly urgent.

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=MGUzMGYxNjZkNDdiODFlZjExODFjOTNjODhkMmQ5NzhfNmw3SFQ4eWRVZ2JWNlRWU3dxZ3pBOGo0S3JmMHViaHNfVG9rZW46V0RIM2JkNG56b2NKYkN4NUlSb3U1RGFVc1JmXzE3MDAyMTQyNTc6MTcwMDIxNzg1N19WNA)

The stablecoin of the Lightning Network will not only satisfy real payment scenarios, but its arrival will also provide new opportunities and convenience for crypto asset transactions.

## Polymorphic Stablecoin

As a key part of the ecosystem, stablecoins are constantly competing among projects. Not long ago, the market value of USDT broke through the historical high, reaching $87.5B, occupying 69.33% of the market share of the stablecoin ecosystem. Now that Bitcoin has entered the "multi-asset era", as a giant that has accounted for more than 50% of the cryptocurrency market for many years, the business of issuing stablecoins on the Bitcoin network will become a new yet familiar battleground.

Today, TRON occupies nearly half of USDT’s market share, and the development of stablecoins on the Bitcoin network is bound to cause a great migration of the share of stablecoins in the cryptocurrency world.

Most people easily equate stablecoins based on the Lightning Network to USDC, USDT, and TUSD. However, in my opinion, this is a trend that has not yet been realized. On the new starting line of Lightning Network Taproot, any institution can issue Stablecoin. Whether the solution will come from synthetic assets, algorithmic stablecoins, over-collateralized stablecoins or 1:1 mapped stablecoins is still unknown.

## UXUY focuses on stablecoin opportunities

The current opportunity comes from being deeply involved in the Lightning Network community, comprehensively tracking all stablecoin solutions, and actively assisting or participating in the establishment of stablecoin standards. **UXUY exclusively created uPool to serve multi-chain pipelines, the core of which is to allow stablecoins to play a more active role in cross-chain transactions.** We are also willing to use this groundbreaking solution to serve the Lightning Network and other Bitcoin Layer 2.

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=YTkxZDI3NGVjYTczYTNiYWRlNWMxZDY5NzljYjZjMjJfWWdIaVR2VkNVOEZndm5PMHI0Tjc4U2UyRkJ3b2NVM2xfVG9rZW46VThwTGJqeXk0bzhURUZ4dkhJanVLdnVac1FkXzE3MDAyMTQyNTc6MTcwMDIxNzg1N19WNA)

As of November 17, 2023, the Bitcoin Lightning Network has a capacity of 5,362.12 BTC worth $0.19 B. UXUY predicts that with Taproot Assets officially launching the Lightning Network, the scale of stablecoins will soon exceed this number, which will drive the capacity of the Bitcoin Lightning Network to continue to increase. We even imagined that the Defi Summer of Ethereum in 2020 would be repeated on Bitcoin.

## Taproot Assets and Emerging Assets

The listing of Taproot Assets on Bitcoin has greatly consolidated Bitcoin's status as the Internet's native digital currency and value transfer protocol and brought richer application scenarios to the Bitcoin network. Relying on the natural advantages of Bitcoin's decentralization, the encryption market has continued to expand. Transfer to DEX.

In addition, since the Taproot Assets protocol is compatible with Bitcoin development tools, it will be more convenient for project developers to create emerging assets by issuing them on the Bitcoin network. For traders, due to the rich liquidity of Bitcoin, it is more convenient to capture valuable projects with great potential for innovation and development with the help of the Lightning Network’s high security, low transaction costs, and extremely fast transaction characteristics.

I strongly feel that the Bitcoin ecosystem will usher in a new round of growth, and the Bitcoin network has officially entered the multi-asset era.

## What is UXUY doing?

As the next generation decentralized multi-chain trading platform, UXUY is fully betting on the Bitcoin ecosystem: fully integrating into Bitcoin Lightning Network nodes, becoming the world’s first DEX to implement Lightning Network nodes; announcing full access to Bitcoin Taproot Assets; officially launching the universe service for developers; released the lightning address service, becoming the world's first DEX to support lightning addresses...UXUY is fully prepared for Taproot Assets to be launched on the lightning network.

We observed the Muun wallet, which utilizes both Bitcoin and the Lightning Network to process transactions. Unfortunately, users are charged high fees. When Mempool is congested, Muun's extremely high transaction costs will be borne by users.

**UXUY is actively exploring,** **and** **leveraging the advantages of Ethereum and BNB Chain, to use more efficient and low-cost solutions to make transactions based on the Lightning Network and future Taproot Assets more convenient.**

As Satoshi Nakamoto imagined when he wrote the white paper fifteen years ago, Bitcoin is a peer-to-peer cash transaction system. The widespread adoption of stablecoins on Bitcoin will push Bitcoin back to the original intentions of Satoshi Nakamoto.

There is currently $126B in stablecoin market size, and it does not run on Bitcoin at all. Five years later, let us look back at this data, and we will get a brand new answer. This is the biggest variable in the Bitcoin ecosystem in the next five years.

This is a challenge for UXUY, but also an opportunity for UXUY.

Stablecoins: The biggest variable in the Bitcoin ecosystem

The 2023 Binance Blockchain Week unfolded in Istanbul, Turkey, on November 8, attracting an impressive gathering of nearly 10,000 attendees from the crypto community. This annual blockchain conference provided a meeting point for global influencers, traders, founders, institutional investors, regulators, and innovators to converge and delve into the theme "The Next Billion."

Binance founder CZ took the stage, delivering a keynote that resonated with the essence of blockchain's transformative potential. UXUY, which is incubated by Binance Labs, was invited to attend. UXUY co-founder Jordan delivered a speech titled "UXUY Connects Bitcoin and BNB Ecology", adding a unique perspective to the conference.

Istanbul, serving as the crossroads of East and West, became the epicenter for discussions that spanned the future of blockchain technology. Participants engaged in comprehensive exploration, committing to broaden the applications of blockchain and cryptocurrency. The focus extended to understanding the implications of Web3's future development on both seasoned and nascent users.

## CZ: Bitcoin halving will happen in five months...

On November 9, CZ delivered the final speech of Binance Blockchain Week. He said:"I think bitcoin halved is happening in five months and then we'll see what happens，there's also the ETF that's supposed to be approved soon. That may have a huge impact on institutional adoption into the cryptol, so that may bring a lot of money into crypto. Any of those things could happen , whether it comes to anything we are ready"

In his speech, CZ elaborated on the relationship between Bitcoin halving and price, saying: “ I think it's very important and very impactful, but it should not be viewed as an event,nothing is going to happen overnight. The Bitcoin halved is going to happen overnight. But we have seen this three times in the past that the day after bitcoin halved, the price doesn't doesn't double overnight. There's a lot of anticipation, going into the halved and then also historically.The year after the halved, there's multiple all time highs. But history doesn't predict the future. People should have viewed Bitcoin halved as a specific significant event. It is in a sense that it is impactful. But, the price is not going to double overnight, but then Over the next year that people will realize that the new supply for Bitcoin has half halved. The mining costs have stayed the same, so miners are not gonna be willing to sell the new Bitcoin at law. They will sell the minimum to maintain operating costs, but the rest will hold until there's decent profits, so even though the price of producing something shouldn't dictate the price of selling, it does have a psychological impact, so and also with more demands coming into the industry, I do think that the demand for crypto and will grow exponentially.so I think that's a very significant event in the sense of Bitcoin halved itself but don't expect overnight prices doubling on that specific day, but the year After that we're gonna see a lot of different things happening."

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=NDc4ZTQzNDI1NThlNzYzNDRkNDQ4MmFiNTEwMzgxZWNfQVFmMGVCRTFzejEwU2JjcmxEZXg4Snc0VEhkM002c0dfVG9rZW46RmgxbmJXWFM3b0FGN1B4YXNSbHVlM3psc2x2XzE2OTk2MTI3NzY6MTY5OTYxNjM3Nl9WNA)

## Jordan: UXUY is Contributing to the Bitcoin ecosystem

Before CZ's speech, UXUY co-founder Jordan delivered a speech titled "UXUY Connects Bitcoin and BNB Ecosystems" and told guests attending Binance Blockchain Week the story of UXUY as a Bitcoin ecosystem builder.

**UXUY launched the Bitcoin Layer2 plan - "UXUY Struck by Lightning" in 2023, becoming the first DEX in the world to implement Lightning Network nodes and opening it to the entire ecosystem.** On the day Taproot Assets was launched on the Bitcoin mainnet, the ecological incentive token $TAPROOT was successfully minted to encourage users to use the Lightning Network to hold and trade Taproot assets.

As an active Bitcoin Builder, UXUY continues to participate in Lightning Network code contributions and submitted many bug and vulnerability modifications to the Lightning Network Lab. It was highly praised by the Lightning Network Lab and became an outstanding contributor to the developer community. UXUY officially launched the Universe service on November 8, 2023, becoming the second service provider in the world to run Universe after the Lightning Network Laboratory. As UXUY opens the Universe service, the Taproot Assets protocol is officially promoted to Multiverse Mode. **As an important feature of** **the** **Taproot v0.3 version, this will provide complete asset information and asset holder certificates, and update developers** **all** **at the same time**.

At the scene, Jordan also demonstrated to guests how UXUY connects EVM ecosystems such as BNB Chain with BTC, taking advantage of the efficient, low-cost, and secure features of the Lightning Network and Taproot Assets protocols to greatly improve users’ trading experience.

Jordan said: "The UXUY Struck by Lightning plan has no endpoint and will continue to build the Bitcoin ecological infrastructure and promote the development of the Lightning Network and Taproot Assets. We look forward to working with more and more Bitcoin builders to make Bitcoin Great Again!"

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=MDhjMDhkZTk1Y2FkMWMwNmEwMmJhNjc5ZWM4OTY3YWZfbkhuWFRNR2NSSlF5THFHRldpVmN5Q0ozenNucU4xemJfVG9rZW46V01SUmJaUjAwb3ZaUWJ4bnU3VnVHM0RLczVjXzE2OTk2MTI3NzY6MTY5OTYxNjM3Nl9WNA)

## **About UXUY**

[UXUY](http://uxuy.com/), incubated by [Binance Labs](https://labs.binance.com/), is a next-generation decentralized multi-chain trading platform based on MPC & AA wallets. Adhering to the concept of “Your Crypto, You Control”, UXUY actively participates in the construction Bitcoin Layer2 ecosystem. UXUY provides traders with instant cross-chain trading services for digital currencies and encrypted assets between public chains. It has currently been connected to Ethereum, BNB Chain, Polygon, Tron, Optimism, Arbitrum, Avalanche-C, Fantom, Linea, Base, etc. Public chain and Layer 2. By establishing an intent-centered social trading function and creating an aggregated liquidity pool around stablecoins, the universal Gas solution — GasPool, provides users with a CEX-like trading experience. Dedicated to helping users “Follow the Smart Money”, UXUY significantly lowers the barriers to social transactions on the chain.

## About Binance Blockchain Week

More than just a conference, Binance Blockchain Week brings together traders, founders, institutional investors, regulators, global officials, and innovators to explore and shape the future of blockchain technology.

Binance Blockchain Week 2023 takes place in the Turkish capital of Istanbul to explore how blockchain and cryptocurrencies can financially support an additional billion users around the world. As a leading force in the Web3 space, Binance is committed to accelerating the global adoption of blockchain technology and helping users keep pace with the rapidly evolving blockchain industry.

Binance Blockchain Week 2023: UXUY, the Bitcoin Ecosystem Builder

deleted by author

On November 6, 2023, UXUY announced the official launch of its “Universe” service, marking a significant milestone in its “UXUY Struck by Lightning” plan to enhance the Bitcoin ecosystem. UXUY is now the second provider in the world, following Lightning Labs, to offer this service.

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=NDc1YWVlYjg0ODhiMTliZGUwNzRhYThlZWM5ZDFjZTdfd2RkWWFCNGdvZ0s3elR5WXNGRzdKY2VYd2JQRDhsZU5fVG9rZW46VTdFNGJ1bFZzb05rN0t4SEhORXVLZHhxczdkXzE2OTk0MjQ1OTc6MTY5OTQyODE5N19WNA)

Taproot Assets node provider can use the following command to add the universe service provided by UXUY to the Federation Server List of its own node.

> $ tapcli universe federation add \
> 
> --universe_host universe.uxuy.com:10029

  

**With the Universe service launched by UXUY, the Taproot Assets protocol is officially promoted to Multiverse Mode.** As an important feature of Taproot v0.3 version, this will provide users with complete asset information and asset holder certificates, and at the same time provide developers provide all the data needed to synchronize Taproot Assets in real time.

## What is the Universe service?

The Universe service introduced by UXUY is essentially a repository for assets and their associated proofs. It can provide information about various asset types, including stablecoins, detailing asset issuance, quantity, rules, and recent transfer proofs. Think of it as Blockchain Explorer, but with a unique feature: it stores Taproot asset transaction data off-chain while remaining synchronized with the Taproot asset client.

With the release of Taproot Assets v0.3, the Multiverse Mode is activated, allowing multiple Universe servers to work together as a federation. This synchronization ensures that data remains consistent, **even if the issuer’s server goes offline, thereby verifying the legitimacy of assets during on-chain Taproot transactions.**

For on-chain Taproot asset transactions, users no longer need both parties to be online simultaneously. Receivers can generate an address to which anyone can send assets at any time. Taproot Assets v0.3 facilitates this by enabling developers to add a proof-retrieval Uniform Resource Identifier (URI) to an on-chain address. The receiver’s wallet can then sync with the specific Universe server detailed in that URI to download the off-chain proof data they’ll need for future asset transfers, all happening seamlessly in the background.

## Release of Taproot Blockchain Explorer

In addition to the Universe service, UXUY has also launched the [Taproot Blockchain Explorer](http://uxuy.com/taproot), catering to traders and users who want to explore and identify assets in the Taproot Assets ecosystem. This will further contribute to bridging Bitcoin with other blockchain networks like Ethereum and BNB. **With the upcoming Bitcoin Lightning Network, users can conduct secure, low-cost asset transfers and transactions with ease.** UXUY plans to upgrade the Taproot Assets Blockchain Explorer and enable the TaprootScan.io domain name, aiming to become one of the most important infrastructures in the Bitcoin ecosystem.

## Why build Bitcoin infrastructure?

UXUY’s commitment to building Bitcoin infrastructure is driven by the enormous potential within the Bitcoin ecosystem. While Ethereum and EVM ecosystems have thrived with various applications, Bitcoin’s application layer has lagged behind. With the launch of Taproot Assets on the Bitcoin main network, UXUY is ready to support the growing wave of projects and asset issuance within the Bitcoin network.

UXUY’s dedication to Bitcoin infrastructure development includes:

-   Connecting to Lightning Network nodes and becoming the first DEX to implement Lightning Network nodes.
    
-   Becoming a core contributor to Lightning Labs.
    
-   Offering full access to Bitcoin Taproot Assets.
    
-   Launching the Taproot Assets Blockchain Explorer V1.0.
    
-   Initiating Project Columbus and introducing a lightning address service, becoming the world’s first address service compatible with multiple chains.
    

UXUY’s belief is that, with Bitcoin’s robust Proof of Work consensus mechanism, the cryptocurrency market will gradually shift toward decentralization, achieving the vision of true decentralization.

## Connecting Bitcoin and Ethereum Ecosystems

UXUY’s mission extends beyond Bitcoin, aiming to connect multiple blockchain ecosystems. Before supporting Bitcoin, Lightning Network, and Taproot assets, UXUY has already established connections with Ethereum, BNB Chain, Polygon, Tron, Optimism, Arbitrum, Avalanche-C, Fantom, Linea, Base, and other public chains, as well as Layer 2 solutions. UXUY sees transactions as the key to breaking down barriers and fostering a more interconnected blockchain space.

The “UXUY Struck by Lightning” plan is an ongoing initiative, with no fixed endpoint, dedicated to building Bitcoin’s infrastructure and promoting the development of the Lightning Network and Taproot Assets.

UXUY Pioneers Taproot Asset Universe Service for Bitcoin ecosystem integration

Today, the price of BTC has surged past $35,000, reaching a new high since June, last year. The entire crypto market seems to be cycling back to the excitement of the early bull market. Meanwhile, it has been exactly seven months since I bid farewell to BitKeep, during which I immersed myself in the world of product development, and attempted to race against time. We know that bear markets offer a treasure trove for grassroots product builders, but It's only when the industry takes a breather that time and space truly belong to us (builders).

Today October 24, 2023, UXUY will be released officially.  Before this, UXUY had gone through 6 beta updates, with over 50,000 users actively participating and providing invaluable user feedback. I would like to take this opportunity to express my heartfelt gratitude to all the users who participated in the testing. 

As with all things that I do, today has great significance. Releasing the official version on a date like 1024 is not only a tribute to computers but also an announcement to our users, partners, and investors: UXUY is prepared for the bull cycle.

Forged in the bear market of 2023, UXUY faced a more challenging financing environment compared to the past two years. However, we were fortunate as Bixin Venture quickly recognized my desire to embark on a new entrepreneurial journey and invested in us. Subsequently, Waterdrip Capital's Dashan not only provided financial support but also introduced valuable partners. Wang Feng of LK Venture called me from Hong Kong and decided to invest in us. UXUY is positioned as the next-generation DEX, and we unexpectedly received support from several top CEXs, from Kucoin to Pionex, and more recently joined the Binance Labs incubator. This series of recognitions has left us deeply gratified.

More challenging than fundraising is the refinement of the product. To lower the barrier of wallet usage, address single-point issues, and achieve mass adoption, we introduced the MPC mechanism to manage wallets. To simplify cross-chain transactions, we built the uPool based on stablecoins. To address the pain point of users regarding Gas, we introduced the Gas credit solution - GasPool. There are more than a hundred such product demands, and innovation is our inexhaustible driving force. Today's UXUY has only taken the solid first step. We look forward to the arrival of the bull market, but we also hope the bear market doesn't leave too soon because we're afraid we're not fully prepared, and we agonize over this fluctuating mood every day.

For projects like UXUY, perfecting the trading product is crucial, but solving the user cold start problem remains challenging. Why do users come in the first place? So, we launched on-chain Social Trading. Unlike traditional exchanges' Copy Trading, on-chain trading data is clear, complete, and tamper-proof, presenting a gold mine waiting for us to explore. We use AI technology to analyze on-chain data and provide traders with real-time trading signal alerts. You can check the real-time dynamics of each transaction just like browsing Twitter and understand the overall profit and loss situation. This feature has been brewing in my mind for fifteen years when I was still a programmer at East Money. Finally, on UXUY, I turned this dream into reality.

Creating a great product is an essential part, but it also requires courage and opportunity. The five years of working on BitKeep was the best training for me and my team. We continuously challenged ourselves and explored new opportunities. Looking back, we attempted to integrate with the EOS ecosystem in 2018, supported TRON's USDT as soon as it launched in 2019, provided mobile support for viewing Uniswap prices and trading before DeFi Summer arrived in 2020, dedicated significant development resources to integrate with the Solana ecosystem in 2021, and placed our bets on the rise of the Polygon ecosystem in 2022, becoming the most active Polygon wallet, and so on. We never missed any opportunity, continuously evolving and growing.

Now, in 2023, we are focusing on a special track, betting on Bitcoin, specifically the Bitcoin Lightning Network, and even more specifically, Taproot Assets. We have not only become the world's first DEX to implement a Lightning Network node but have also opened resources to the Taproot ecosystem. On the day Taproot Assets went live on the Bitcoin Mainnet, we completed the minting of new assets. We understand the consensus, efficiency, and low-cost characteristics of the Lightning Network, and we firmly believe that this will trigger a Bitcoin DeFi Summer. We are working to bridge the gap between Ethereum, BNB Chain, and Bitcoin, not just to simplify transactions but to make Bitcoin great again.

Unlike traditional Bitcoin maximalists, we had already fully supported dozens of public chains for cross-chain transactions before integrating with the Lightning Network. We are practical Bitcoin maximalists. We can proudly say that UXUY is the team that understands Ethereum and the EVM ecosystem the most within the Bitcoin ecosystem.

This is my sixth year of blockchain entrepreneurship and my second experience in a bear market. Every bear market makes many peers feel frustrated and leave the industry. I seem to be the odd one out, always unwilling to waste the time before the bull market arrives. I have been focused on making the product better and preparing for new narratives and new eruptions, and I don't even know why I am so committed to Crypto. This reminds me of the day I left East Money on June 12, 2008, when the Shanghai Composite Index closed at 2957 points, exactly the same as today.

Crypto is not my hallucinogen; Crypto is my lifesaver. I cherish it, even in a bear market...

Kevin A programmer
From UXUY.com
Oct. 24th, 2023, Singapore

UXUY: Prepared for the Bull Run!

At 15:06 on October 18, 2023 (UTC), the Bitcoin block height was 812767, and [Taproot Assets](https://github.com/lightninglabs/taproot-assets/releases/tag/v0.3.0)  was officially launched on the Bitcoin main network. Lightning Network Labs described this upgrade as opening a new era for Bitcoin:

> Taproot Assets will give developers “the tools needed to make Bitcoin a multi-asset network, but in a scalable manner that upholds Bitcoin’s core values

# UXUY Gains full access to Taproot assets

Since the official launch of the Bitcoin Layer 2 plan, UXUY has actively participated in the Bitcoin and Lightning Network ecosystem. During the [Bitcoin Amsterdam Conference](https://blog.uxuy.com/major-highlights-of-the-bitcoin-amsterdam-conference-attended-by-the-uxuy-team-11fb5a9851ab), UXUY officially released the Bitcoin Lightning Network node and became [the world’s first DEX to run a Lightning Network node](https://blog.uxuy.com/uxuy-implements-bitcoin-lightning-node-to-serve-multi-chain-trading-for-taproot-assets-e98dbf490adf).

And now, UXUY is the first to announce full access to Taproot assets and fully open Lightning Network nodes to the Taproot asset ecosystem. As a next-generation decentralized multi-chain trading platform, UXUY will improve the trading environment of Taproot assets and launch BLIP — the definition of Bitcoin Taproot Assets. We believe the trading layer enriches the liquidity of Taproot Assets.

In addition,  **UXUY has exclusively created uPool to serve multi-chain pipelines**. Its core is to allow stablecoins to play a more active role in cross-chain transactions. This will help users use existing assets to directly trade Taproot assets, greatly reducing the user’s cross-chain transaction threshold cost.

Jordan, co-founder of UXUY, said, “As an important breakthrough in the Bitcoin ecosystem, Taproot assets are bound to trigger a new wave of innovation. UXUY will actively build a transaction layer based on the Lightning Network and promote crypto equality through transactions.”

# $TAPROOT Genesis Airdrop

While Taproot Assets was launched on the Bitcoin mainnet, UXUY officially launched $TAPROOT based on the Taproot Assets protocol:

-   Asset ID
-   a6cf54b9e77b3ef4a5309674e7b3cc7a6193a70b8df57fca5805ecd52f86c1c0

![](https://miro.medium.com/v2/resize:fit:1400/0*M3SqPwJWeuQ_j23z)
In order to promote the development of the Bitcoin Layer 2 ecosystem and encourage users to hold and trade Taproot assets, UXUY will launch the $TAPROOT genesis airdrop through the Lightning Network. Assets are listed on the Lightning Network and airdrops will be conducted in the form of mapped Tokens.

UXUY will continue to improve the Bitcoin ecosystem, and promote the development of Lightning Network and Taproot Assets innovation. — UXUY Struck By Lightning

UXUY Announces Full Access to Taproot Assets on the Bitcoin Network

The [UXUY](http://uxuy.com/)  team turned up in Europe for the Bitcoin Amsterdam conference on October 13, 2023. It was on this same day that the team released the Bitcoin Lightning Network node, becoming [the world’s first DEX to run a Lightning Network node](https://blog.uxuy.com/uxuy-implements-bitcoin-lightning-node-to-serve-multi-chain-trading-for-taproot-assets-e98dbf490adf). Bitcoin Amsterdam is Europe’s largest Bitcoin conference, co-organized by Bitcoin Magazine, BTC Inc., and Amsterdam Decentralized.  **During the conference, the UXUY team had insightful**  **conversations with the core developers of the Bitcoin community and the Lightning Network community, consulted on BLIP proposed by UXUY, and received positive feedback.**

We observed from the new faces seen at the Bitcoin Amsterdam conference that Bitcoin and decentralized consensus are gaining momentum. This is not just another conference; this is a celebration of innovations in Bitcoin.
![](https://miro.medium.com/v2/resize:fit:1400/0*-RvX22CBqm2gGlQB)
# Bitcoin and the Decentralization Movement

As a guest speaker at Bitcoin Amsterdam, Edward Snowden, the exile who once exposed the United States’ “Prism” program, delivered a speech titled “Edward Snowden” via the Internet. His appearance was undoubtedly the biggest event of this conference. In addition, Stella Assange, the wife of journalist Julian Assange, who was imprisoned for exposing American war crimes, and Balaji Srinivasan, the author of “The Network State”, all took the stage to give brilliant speeches.

![](https://miro.medium.com/v2/resize:fit:1400/0*fHpubH1qbSAdQBq4)

Although they are not the core developers of Bitcoin, nor the builders of ecological applications, their speeches indicate that the significance of Bitcoin is not limited to cryptocurrency itself, but has become a weapon to break hegemony and monopoly.  **Bitcoin is becoming an integral part of the decentralization process.**

# Lightning Network in Conversation

At the Bitcoin Amsterdam Conference, a discussion titled “Limitations Of Lightning” left a deep impression on the team.

Christian Decker from Blockstream said that the Bitcoin ecosystem is becoming more and more popular, and the previous popularity of the Ordinals protocol and BRC-20 tokens exposed the Full Block problem. At the same time, the rise of the Lightning Network has given rise to a very interesting reaction to the Bitcoin protocol. He said:

**That’s a very, very subtle interplay of the two protocols that it took years for us to realize that there are such attacks.** And for me, that is very exciting as well, because there’s a new building site. I can sort of start building my protocols again. But looking from the outside, it might look very scary as well.

![](https://miro.medium.com/v2/resize:fit:1400/0*lJizHHXMBEKTJz_W)

Niftynei, the founder of Base58, added, “Pinning attacks are, unlike such a niche thing. I think it’s a good way to say it. To understand what that is, this has to do with it when you’re trying to close the lightning channel and the mempool is full or maybe there’s someone who’s trying to prevent your closed transaction from reaching the miners, et cetera. In order to understand that problem with those kinds of technical issues around it, you have to understand how the mempool works. And it turns out that a lot of people don’t understand how the mempool works.”

Lightning Network core developer Rene Pickhardt expressed his views on how Lightning Network operators can better distribute liquidity. He said: “Definitely, I think liquidity adds are like a coordination mechanism, right? Like in most markets, it’s about coordination, right? Someone needs inbound liquidity, someone wants to sell that liquidity that they have available. And so it’s just helping those two parties coordinate the rate. So that’s kind of one of the cool things with markets is helping people find signals about where liquidity is needed. That’s the people that want to buy it and then where people are willing to provide it. And that’s how it was through the advertisement. “

**UXUY will stand at the forefront of the industry, continue to pay attention to industry trends, and ensure the absolute security of user assets as we venture into the lightning network.**

# On the Road

After the conference, we left the charming city of Amsterdam. With the rapid development of the Lightning Network, crypto industry practitioners are beginning to pay attention. We left the conference with the resolve to UXUY continue to improve the Bitcoin ecosystem, promote the development of Lightning Network and Taproot Assets innovation, become an active contributor, and jointly shape our decentralized future.

Major Highlights of the Bitcoin Amsterdam Conference attended by the UXUY Team

![](https://miro.medium.com/v2/resize:fit:1400/1*ogWoVdW5F1HQSosHh-0-7A.png)

Today 13th of October, 2023, the next-generation decentralized trading platform  [UXUY](http://uxuy.com/)  will officially implement the Bitcoin Lightning Network node named UXUY. As part of the Bitcoin Layer2 plan which we aptly named- “UXUY Struck By Lightning”. The implementation of the Lightning Network node marks UXUY’s journey to becoming an active contributor, improving the Bitcoin ecosystem, and promoting the development of the Lightning Network.

-   **Node Name:**  
    UXUY
-   **Node IP:**  
    43.128.84.174:9735
-   **Node Public Key:**  0235a13fa1e3cc0e15e088a0a72c9c732e9dd42bf5dc84330c20c4f7a1e2a91061

**UXUY** differs **from other traditional Bitcoin contributors because we focus more on connecting Bitcoin assets to Ethereum, BNB chains, and other ecosystems.** We have successfully connected to Ethereum, BNB Chain, Polygon, Tron, Optimism, Arbitrum, Avalanche-C, Fantom, Linea, Base, and other public chains, and through our exclusive GasPool solution, we have reduced the threshold for cross-chain transactions between Bitcoin and other ecosystems.

At present, UXUY has successfully run the Bitcoin Lightning Network node and built infrastructure for trading Bitcoin Layer2 assets, actively participated in the construction of the Taproot Assets test network, and is well prepared for the upcoming Bitcoin DeFi Summer.

## The First DEX to Implement the Lightning Network Node

In 2020, Bitfinex officially announced the operation of Lightning Network nodes, and since then, major CEXs have successively connected to the Lightning Network. Currently, traditional CEXs such as Binance, Bitfinex, Kraken, Bitstamp, and OKX have completed the integration of the Bitcoin Lightning Network.

CEXs connected to the Lightning Network are mainly used in deposits and withdrawals, taking only partial advantage of the Lightning Network. With this situation, we can see that in the face of the upcoming outbreak of Taproot Assets, there is no ready solution for users.

As a next-generation DEX, UXUY is the first DEX to run a Lightning Network node and, with this move, promote the integration of DeFi and the Bitcoin ecosystem. As UXUY co-founder Jordan has said, “Currently, the scale of Bitcoin assets on the Lightning Network is only 5,000+ BTC, equivalent to US$100 million. In contrast, the size of USDT is US$86.6 billion. To promote the development of the Bitcoin Lightning Network ecosystem, we can not be limited to the existing asset scale of the Lightning Network. The advantage of UXUY is to introduce Stablecoin and Token assets to realize decentralized multi-chain transactions. This is the essential difference between us and traditional Lightning Network products (such as Walletofsatoshi, Phoenix, Muun).”

Elizabeth Stark, co-founder of Lightning Network, has also affirmed UXUY’s stance on the matter. In a statement, she said,

> _Taproot Assets helps Bitcoin in numerous ways, including onboarding people to Bitcoin through fiat where they can easily swap between assets. This is particularly useful in a high-inflation environment, as many people around the world live in economies where their currencies are continually losing value. Thus, Taproot Assets helps facilitate fiat to Bitcoin rails. Further, as Taproot Assets uses bitcoin liquidity to route assets issued on the protocol, there will be greater demand for bitcoin on the Lightning Network. As a result, bitcoin will route dollars, fiat, and everything in between._ **_This is how we bitcoinize the dollar._**

We believe UXUY’s move to implement a Lightning Network node may have a ripple effect throughout the industry, driving more DEXs to support the Bitcoin Lightning Network. As more and more users join the network, the Lightning Network’s node and channel scale may once again reach new heights.

# Multi-chain transactions for Taproot Assets

UXUY will fully open Lightning Network nodes to the Taproot Assets ecosystem and promote the construction of Lightning Network infrastructures. As the next generation of decentralized multi-chain trading platform, UXUY will improve the trading environment of Taproot Assets, launch BLIP — define the trading layer based on Bitcoin Taproot Assets, and enrich the liquidity of Taproot Assets.

UXUY will help Taproot Assets’ asset issuers complete project deployment, issuance, and liquidity management. Significantly reducing the cost for project parties to issue assets on the Lightning Network, especially for the DeFi and RWA fields, UXUY will provide rich development tools and Bitcoin Lightning Network node support.

**UXUY has exclusively created uPool to serve multi-chain pipelines.** Its core is to allow stablecoins to play a more active role in cross-chain transactions. This will help users use existing assets to directly trade Taproot Assets, greatly reducing users’ costs. Cross-chain transaction threshold.

UXUY’s implementation of the Bitcoin Lightning Network node is just the first step in Struck By Lightning. If you are also a Crypto Native, join UXUY in Struck By Lightning!

**About Lightning Network  
**The Lightning Network is a Layer2 solution for Bitcoin. Due to the limitations of Bitcoin’s scalability, the Bitcoin network can only handle 5 to 7 transactions per second on average, which is far from meeting people’s transaction needs. Joseph Poon and Thaddeus Dryja first proposed the idea of Lightning Network in February 2015 and released a  [white paper](https://lightning.network/lightning-network-paper.pdf)  on Lightning Network in January 2016. Lightning Network was officially born. The Lightning Network greatly improves the transaction throughput of the Bitcoin blockchain without changing the core protocol of the Bitcoin network. The Lightning Network guarantees millions to billions of transactions per second, as well as cross-chain atomic swaps.

**About UXUY  
**[UXUY](http://uxuy.com/), incubated by  [Binance Labs](https://labs.binance.com/), is a next-generation decentralized multi-chain trading platform based on MPC & AA wallets. Adhering to the concept of “Your Crypto, You Control”, UXUY actively participates in the construction Bitcoin Layer2 ecosystem. UXUY provides traders with instant cross-chain trading services for digital currencies and encrypted assets between public chains. It has currently been connected to Ethereum, BNB Chain, Polygon, Tron, Optimism, Arbitrum, Avalanche-C, Fantom, Linea, Base, etc. Public chain and Layer 2. By establishing an intent-centered social trading function and creating an aggregated liquidity pool around stablecoins, the universal Gas solution — GasPool, provides users with a CEX-like trading experience. Dedicated to helping users “Follow the Smart Money”, UXUY significantly lowers the barriers to social transactions on the chain.

UXUY Implements Bitcoin LN Node to Serve Multi-Chain Trading for Taproot Assets

![](https://imgprxy.stacker.news/AGdITkqEzt5B2Z5-Uj-c9Nvkyau1Y90YX3zwTLxTwqI/rs:fit:600:500:0/g:no/aHR0cHM6Ly9taXJvLm1lZGl1bS5jb20vdjIvcmVzaXplOmZpdDoxNDAwLzAqSkZkeUhLdkJLWnNHTF9Nag)

**Binance’s News Brings UXUY a Tenfold Increase in App Downloads.**

_I am Jordan, co-founder of UXUY._

[_UXUY_](http://uxuy.com/) _is a multi-chain trading platform based on MPC and AA wallets, established this year._

It has been a full 24 hours since [Binance Labs](https://labs.binance.com/)  officially announced UXUY’s selection for the [sixth incubator program](https://www.binance.com/en/blog/ecosystem/meet-the-cohort-binance-labs-incubation-season-6-3293752531037588947), and my emotions have yet to settle. I find myself constantly refreshing the data console on my computer.  **In the past day, our app has seen over 4,000 new downloads, with more than 800 users transferring their crypto assets into the UXUY wallet.**

A significant portion of these users have completed their first transactions on UXUY. To those outside the crypto industry, these numbers may not seem like cause for celebration, but for a decentralized trading platform, these results have exceeded most people’s expectations. I speculate that among these users, there are blockchain explorers, industry professionals, and of course, investors in the crypto space.

Nearly 30 investors have reached out to me, either directly or through introductions from friends.

While congratulating us, they have also expressed their interest in participating in the next wave of funding rounds

**In the somewhat harsh environment of the crypto industry, as a product that has only been in development for a few months, gaining this level of recognition from investment firms is something many would envy.**

Vincent, the investment manager from KuCoin Venture, was among the first to call me. He’s been our long-time investor, having participated in UXUY’s seed round of financing. Not only did he offer his congratulations, but he also provided valuable advice for our next steps. Being from a CEX background as well, Vincent understands the value of being selected by Binance Labs Incubator. From the tone of his voice over the phone, I could tell that he, like me, was genuinely thrilled for us.

![](https://imgprxy.stacker.news/-AnSIc5KVVWawTe3NHNC3oiK_8IMLGZ1VLkaC8o9t6s/rs:fit:600:500:0/g:no/aHR0cHM6Ly9taXJvLm1lZGl1bS5jb20vdjIvcmVzaXplOmZpdDoxNDAwLzAqdGgtVU9KSWFPc0ZIa0ZTVw)

What surprised me the most was that, for most professionals, using UXUY is actually their first experience with a DEX based on MPC wallets. People are still quite unfamiliar with the concept of using wallet phrases. Our team is even more convinced that  **UXUY is just starting out and before long, the seamless trading experience and user asset security will drive the crypto market to accelerate its shift toward DEX’s**

On September 25th, Binance’s sixth incubator program will officially kick off, and the UXUY team is fully prepared and eagerly looking forward to it. If given the opportunity, I would be willing to continue sharing our experience of participating in Binance Labs Incubator.  
Once again, I want to express my gratitude to Binance Labs for supporting products like UXUY and allowing us to work together to do meaningful things for the crypto world.

Thanks to everyone who has believed in UXUY and has downloaded the UXUY app. To show our appreciation for your support, we have prepared 20U of GasPool universal gas credits for every new user who downloads.  
We hope you enjoy it.

Jordan  
Co-Founder  
UXUY

What does joining the Binance Labs Incubator Program bring to UXUY?

The prestigious Web3 and cryptocurrency industry summit, TOKEN2049, kicked off in Singapore on September 13, 2023. On the same day, **The Satoshi Nakamoto Awards, sponsored by** **[UXUY](http://uxuy.com)****, held its award ceremony at the Singapore FinTech Association, revealing all the major award winners.** UXUY co-founder Jordan was in attendance and presented awards to those winners.

The [TON](http://ton.org) team won **Ecosystem of the Year** at The Satoshi Nakamoto Awards. John Z from the TON Foundation delivered an acceptance speech at the award presentation. The day of September 13 marked a significant day in Telegram's history, as the social app with 800 million MAU ( Monthly Active Users ) officially launched a new self-hosted wallet called TON Space. This move is set to encourage more people to engage in the cryptocurrency space. John Z gave a demonstration of the wallet at the award ceremony, and the attendees highly praised TON for its contributions to expanding the cryptocurrency ecosystem.

![](https://imgprxy.stacker.news/wzSvHmNw5yDC8d1M1PvxZueXCmvy_ljZpS47TSmBRBo/rs:fit:600:500:0/g:no/aHR0cHM6Ly9iaXBhbGdyb3VwLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvYXN5bmNjb2RlLz9jb2RlPU5URmxNMkV4TkdJek56aG1NR1psWWpBNU56UmtZVFUzTWpVM09UUTROak5mV0VsQlNIWnpTWEpPY0VaTFVtRnBRVEZtYlZSamFWaExUbGxCYVZReloxQmZWRzlyWlc0NlUxUlFSMkpQZVVFMmIyZDNWa3Q0Y1dKRGVYVjBWMEpMYzFGb1h6RTJPVFEzTkRJeU5qYzZNVFk1TkRjME5UZzJOMTlXTkE)

UXUY co-founder Jordan presented The Satoshi Nakamoto Awards - Ecosystem of the Year to the TON team on stage.

Here are all the winners from this year's Satoshi Nakamoto Awards:

-   Sam Altman (WorldCoin) - Man of the Year
    
-   TON - Ecosystem of the Year
    
-   Arbitrum - Layer 2 of the Year
    
-   PEPE - Meme of the Year
    
-   ZK rollups - Scaling Solutions of the Year
    
-   [Particle Network](http://particle.network) - Infrastructure of the Year
    
-   USDC (Circle) - Stablecoin of the Year
    

  

### Bitcoin

Taproot Wizard - Bitcoin Believer of the Year

Ordinals Protocol - Bitcoin Layer 2 of the Year

Shuning Hong - Bitcoin Researcher of the Year

  

### Contributors

[Waterdrip Capital](http://waterdrip.io) - Outstanding Bitcoin Contributor of the Year

Lido - Outstanding Ethereum Contributor of the Year

UniElon - Outstanding Dogecoin Contributor of the Year

  

### Institutional Investors & Market Makers

A16z - Institutional Investor of the Year

LK Venture - Solid Institutional Investor of the Year

Arcane - Active Institutional Investor of the Year

[Tide Capital](http://tidecap.com) - Emerging Institutional Investor of the Year

DFW Labs - Market Maker of the Year

  

### Exchanges

Coinbase - Compliance Exchange of the Year

Kraken - Compliance Exchange of the Year in Europe

[VDX](http://vdx.com) - Compliance Exchange of the Year in Asia

Pionex - AI Trading Bot of the Year

  

### Trading & Asset Management

Greeks.live - Options Trading Tools of the Year

DeSyn - Asset Management Infrastructure of the Year

Renora Technologies - Profile Management of the Year

TokenUnlocks - The most Valuable on-chain tool of the Year

  

### Marketplace

friend.tech - Marketplace of the year

Blur - NFT Marketplace of the Year

GoDID - DID Marketplace of the Year

ZORA - Emerging NFT Marketplace of the Year

[Planckx](http://planckx.io) - Most Innovative GamiFi of the Year

  

### Public Goods

[QuestN](http://questn.com) - GM of the Year ( Growth & Marketing Platform )

Coinlive - Multimedia Community of the Year in Asia

Web3vision - Builder Community of the Year

Akasha - Outstanding Public Goods Contributor of the Year

![](https://bipalgroup.larksuite.com/space/api/box/stream/download/asynccode/?code=MDMzMWQzNDg5NGYzYTEwZTA5ODNlZmM1NGNlNDY5MjJfOEYwbXJENUJvMEhMUDQyNGZPcVV4WWt5SFRDSkhPZ0ZfVG9rZW46UkFXUWJQaFhkbzVNVkp4WDR3Y3VmREhBc2w0XzE2OTQ3NDIyNjc6MTY5NDc0NTg2N19WNA)

## About UXUY

UXUY is the next-gen decentralized multi-chain trading platform based on MPC wallet and technology. Guided by the philosophy — “**Your Crypto, You Control**” — UXUY offers traders immediate cross-chain trading services for cryptocurrencies and digital asset types across the entire blockchain spectrum. By establishing a “stablecoin-centric” environment, UXUY provides users with a trading experience akin to traditional CEX platforms. UXUY significantly reduces the barriers to social trading on the blockchain.

## About Satoshi Nakamoto Awards

The Satoshi Award is the cryptocurrency industry's first award aimed at recognizing contributors to the decentralized world. It brings together the industry's most outstanding practitioners, innovators, and contributors. They collectively explore the future of the industry, share cutting-edge technological innovations and perspectives, and promote the convergence of ideas and the spark of creativity. At the same time, the award also serves as recognition for the outstanding builders, projects, ecosystems, and investment institutions of the year, working together to create a superior cryptocurrency ecosystem.

UXUY Sponsored Satoshi Awards Announced Telegram & TON As Winners

## UXUY officially launches its Crypto Synthetic Asset Program — UXUY Token

The next-generation decentralized multi-chain trading platform [UXUY](http://uxuy.com) has officially unveiled its Crypto Synthetic Asset Program — UXUY Token. This marks a pivotal step for UXUY in its ongoing efforts to promote [crypto equity](https://blog.uxuy.com/the-uxuy-crypto-equity-manifesto-97e0d0f7b612) and expand its presence within the multi-chain ecosystem. The UXUY Token program will place a strong emphasis on low-Gas edge blockchains, stablecoins, and innovative assets.

![](https://imgprxy.stacker.news/VGuY52V8kLTzZpTgtUU2WmQ24baXbAsEMftI-DNhWrg/rs:fit:600:500:0/g:no/aHR0cHM6Ly9iaXBhbGdyb3VwLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvYXN5bmNjb2RlLz9jb2RlPU9ERTNZamRsTkRabU16SmxOamszWXpsbFpXRTRaV1JtWlRBMk9USmtNRFZmZDFGV2JsTjBla3RwTUdOVGNuZzNNVnBqVGpReGNIUXdjMGRaTkZwMk1tZGZWRzlyWlc0NldUTk5RbUpxTVRCWmIyaHRaazk0UTJ4d01YVlNSbTVSYzI5alh6RTJPVE00TWpBek9ESTZNVFk1TXpneU16azRNbDlXTkE)

The UXUY Token program not only leverages Ethereum's ecosystem for synthetic assets but also supports Ethereum Layer 2 scaling solutions (Optimistic Rollups, Zk-Rollups). **It is actively exploring opportunities within other ecosystems like Base, and Linea... and also extending its reach to non-EVM ecosystems such as the Bitcoin Lightning Network and RGB.**

## **What are UXUY synthetic assets?**

UXUY Synthetic assets, also known as UXUY Token, are essentially tokenized derivatives.

Synthetic assets are the most significant innovation in the DeFi space and are becoming increasingly popular in the crypto world. In traditional finance, the value of derivatives is derived from underlying assets like stocks or bonds. These derivatives allow traders to speculate on their price movements without actually owning the assets. However, UXUY Token or tokenized derivatives take the concept of derivatives a step further by allowing them to be recorded on the blockchain and creating cryptocurrency tokens.

The UXUY Synthetic Asset Program leverages public distributed ledger technology to directly verify and record transactions on the digital blockchain. **Traders need to pledge specific cryptocurrencies as collateral, and once the collateralization process is complete, the corresponding synthetic assets are created.**

The operation of UXUY's encrypted synthetic assets is achieved through over-collateralization. Traders need to pledge cryptocurrencies worth more than the synthetic assets they want to create and also pay additional stability fees. This design provides a buffer in case the value of cryptocurrency collateral falls.

UXUY Token Synthetic assets are created through smart contracts that generate debt on any asset, with exchange rates determined by price oracles. In this way, protocols can provide exposure to a variety of assets through a liquid market oracle.

The inclusivity of synthetic assets opens up a broader array of opportunities and increased liquidity for investors, ushering in fresh prospects for the industry. For example, synthetic assets can be used to tokenize Bitcoin mining power, allowing anyone to participate in Bitcoin mining and earn interest without needing to own and operate mining equipment. Additionally, people can earn rewards or returns by holding or staking synthetic assets. The use of smart contracts and tokenized investments on the blockchain is improving financial accessibility and democratizing the finance industry. **More and more top synthetic asset protocols are emerging and finding success, such as** **[Synthetix](https://synthetix.io)****,** **[UMA](https://uma.xyz)****,** **[MakerDAO](https://makerdao.com)****, and** **[Abra](https://www.abra.com/)****...**

Synthetic assets are gaining acceptance, [as Vitalik said](https://twitter.com/vitalikbuterin/status/987743110250758149) :

> Synthetic assets have existed for a long time and it's clear that they work, modulo the tradeoff between tail risk and capital inefficiency. _(April 2018) — Vitalik Buterin_

## Exception: Synthetic Asset Stablecoin

Stablecoin synthetic assets, as components of UXUY's Crypto Synthetic Asset Program, are linked to the USD. **To maintain the stability of their prices, UXUY employs smart contracts to manage stability fees and regulates the savings rate of collateral assets to achieve this goal.**

## The Benefits of Synthetic Assets

Currently, the DeFi space is limited in terms of the number of financial assets due to its relatively short existence. The introduction of synthetic assets will significantly change this landscape. With the UXUY Synthetic Asset Program, traders can use traditional financial instruments to better formulate investment strategies and realize investment returns.

Simultaneously, synthetic assets will address issues such as blockchain liquidity fragmentation and restricted cross-chain transactions. Furthermore, UXUY actively promotes the Synthetic Asset Program, which can help more non-crypto enthusiasts and DeFi participants understand blockchain, expanding the user base of cryptocurrencies. UXUY is prepared to welcome one billion people into the crypto ecosystem.

In addition, synthetic assets offer the following advantages:

-   No counterparty involved
    
-   Decentralized
    
-   Increased flexibility
    
-   Enhanced risk management
    
-   Lower transaction costs
    
-   Increased liquidity
    
-   Greater accessibility
    

## Conclusion

The launch of the UXUY Token Crypto Synthetic Asset Program will provide global investors with more opportunities, offering greater versatility in asset allocation through decentralized smart contracts. Simultaneously, the UXUY Token Crypto Synthetic Asset Program will attract more traditional investors into DeFi and the crypto ecosystem.

UXUY Token Crypto Synthetic Assets will continue to drive the development of the UXUY APP, enriching its feature set and providing traders with enhanced functionality and user experience.

What is UXUY Token?

# Our Thesis

> Follow Smart Money

At UXUY, we truly believe the following thesis and build product suites to help crypto investors crack the code to wealth easier.

-   Aggregating liquidity is the most effective way to achieve better trading depth.
-   Stablecoin-centric bridges are the most effective means of achieving cross-chain trading.
-   With the flourishing of L2 and new mainnet, Web3 is entering the era of “Thousand Chains, One Network”.
-   Self-custody of assets is becoming the new norm, lowering the barriers to entry for DApps.
![](https://imgprxy.stacker.news/oiGPfDdYd0xRW_OOf0nkE5Pxf5MOrI5vmQ6iVkfP1Jc/rs:fit:600:500:0/g:no/aHR0cHM6Ly9taXJvLm1lZGl1bS5jb20vdjIvcmVzaXplOmZpdDo3MDAvMSoxVzRDZy1iZFNtQWdWSVRYTFp4dlZRLnBuZw)

That’s why UXUY is launching  [**UXUY Protocol**](https://uxuy.com/)**: Cross-chain, Stablecoin-centric, Liquidity-Aggregation trading protocol**.

The problem UXUY Protocol solves is simple. It lets you swap any token on chain with ease, and it will be our foundation for future UXUY products.

# Introducing UXUY Swap

DeFi has been rapidly expanding, and with it comes the challenge of trading assets across multiple blockchains. The fragmented liquidity of the current DeFi ecosystem has led to a suboptimal trading experience for users, especially when trading on different blockchains. UXUY Swap product suite is here to change that. We provide cross-chain crypto swap product and API that provide users with the most convenient and fastest cross-chain swap process.

![](https://imgprxy.stacker.news/NJUS_9IqniT8tYlxKw9hAPbDRFCM5Og0GFi4KHKNguc/rs:fit:600:500:0/g:no/aHR0cHM6Ly9taXJvLm1lZGl1bS5jb20vdjIvcmVzaXplOmZpdDo3MDAvMSpuYjJHa3VhUFpvdDdISG5BbldqNmlRLnBuZw)

UXUY Protocol currently supports 8 Chain and more is coming:

-   **including Ethereum, Tron, Arbitrum, Polygon, Avalanche, BNB Chain, Fantom, Optimism.**

## Protocol Features

> Stablecoin-centric

![](https://imgprxy.stacker.news/-paLuPjTJQ2-AbaifoSOBe_iVYa9Fd2-N9OQeLONoXo/rs:fit:600:500:0/g:no/aHR0cHM6Ly9taXJvLm1lZGl1bS5jb20vdjIvcmVzaXplOmZpdDo3MDAvMSo4TXFZb05zSU81dnpWLW8zQVZ3T3ZnLnBuZw)

Our stablecoin-centric protocol is designed to empower users to easily and securely access hybrid cross-chain liquidity in one platform. Whether you are a trader, an investor, or a liquidity provider, our protocol offers you the flexibility to execute trades quickly and seamlessly across multiple blockchains. With UXUY, cross-chain swaps are lightning fast and hassle-free. You can trade any token at any time without worrying about liquidity fragmentation. Our liquidity aggregation feature allows you to access liquidity from multiple sources and execute trades with the best possible rates.

> Easy to Integrate

![](https://imgprxy.stacker.news/wbSnOEtmrZ1I_XFWZ5sFvNxh7iuXyAAJcmSI9TyY9Co/rs:fit:600:500:0/g:no/aHR0cHM6Ly9taXJvLm1lZGl1bS5jb20vdjIvcmVzaXplOmZpdDo3MDAvMSpla1NQVHE2ZG14b2RRZ0lEQ3U4Y3FRLnBuZw)

At UXUY, we understand that integrations can be a challenge for many platforms. That’s why we’ve made it easy for you to integrate UXUY with your existing website and DApp. Our API offers the freedom of customizing UI but empowers you with the strong functionalities of UXUY protocol, making it easy to build your own custom integrations. We also offer pre-built widgets that you can easily embed in your website or application, providing your users with a seamless trading experience.

> Multi-Chain

We firmly believe in the potential of multi-chain solutions, and we anticipate a future where thousands of assets will be issued on different chains daily. By providing a reliable and secure protocol that supports a vast array of chains, we enable you to access an even wider selection of assets and capitalize on the explosive growth of decentralized finance.

> Security First

![](https://imgprxy.stacker.news/wY2WzZl40x3JRl2q8EThXnIxVJpvCwEhWpxTfvHJu4k/rs:fit:600:500:0/g:no/aHR0cHM6Ly9taXJvLm1lZGl1bS5jb20vdjIvcmVzaXplOmZpdDo3MDAvMSoxeTY2V19JU0xZQk1HNHJNclJUVmp3LnBuZw)

At UXUY, security is our top priority. We have implemented the latest security measures to protect your funds and personal information. Our protocol is non-custodial, meaning that you retain full control of your assets at all times. Our smart contract technology ensures that all trades are executed in a transparent and secure manner, without the need for intermediaries.

UXUY: Follow Smart Money

On CoinMarketcap, there are already 1.80 million + tokens listed, and this number is increasing at a rate of more than 10,000 tokens per week. All blockchain entrepreneurs love to design Token Economics, Staking mechanisms, unlock schemes, IEO channels, community building… Dextools’ hot lists have new faces every day.  **From birth to death, a token’s life cycle is compressed rapidly, but even so, builders are still keen on creating new tokens**. Traders are also keen to chase new narratives, new hotspots, and new consensus.
![](https://imgprxy.stacker.news/jExffsR7VdGsuf3RvPtMYlaM-pV-kj-ugFtEKPKhv8w/rs:fit:600:500:0/g:no/aHR0cHM6Ly9taXJvLm1lZGl1bS5jb20vdjIvcmVzaXplOmZpdDo3MDAvMSpqOWJrQ1doa1pCQU1reVdZRVc1SDNnLnBuZw)
Where would the most important value in the crypto world lie?

We know: More important than creating tokens is creating trading platforms, and the evolution of trading platforms has never stopped.

-   Mt. Gox was founded in 2010 and closed in 2014
-   Coinbase was founded in June 2012
-   BitFinex was founded in 2012
-   Binance was founded in 2017
-   Uniswap was founded in 2018
-   FTX was founded in 2019 and closed in 2022

With  [UXUY](http://uxuy.com/), what we have built is a next-generation decentralized multi-chain trading platform, dedicated to establishing a new DEX for any token in any chain. UXUY is not only limited to Bitcoin and Ethereum ecology, but also actively  [advocates encryption fairness](https://blog.uxuy.com/the-uxuy-crypto-equity-manifesto-97e0d0f7b612), pays attention to emerging assets, and provides trading services for edge public chains. Because we at UXUY believe that trading is the only weapon to break down barriers.

The crypto market is never short of tokens, and trading platforms that provide rich trading pairs, emerging asset support, and trading opportunity discovery will always be scarce.

# Reconnecting Trader and Token

Bitcoin has become the hottest encrypted asset today. As of the time of writing, the price of a Bitcoin was as high as 30,000 US dollars. Institutional investors have entered the market. Holding a Bitcoin has become a symbol of wealth. However, when Bitcoin was created, the situation was very different. Mr. Satoshi Nakamoto, the founder of Bitcoin, once wrote in an email group to promote Bitcoin v0.1 :

> _“It might make sense to get some in case it becomes popular. If enough people think the same way, it becomes a self-fulfilling prophecy.” (January 2009) — Satoshi Nakamoto_

Any great innovation is inconspicuous in the beginning, if you can’t predict the magnificent market of Bitcoin in the next 14 years, do you think this is just a classic “MLM narrative”?

A more realistic question is: Where is the next “Bitcoin”, and can we find it?

On the basis of supporting any Token in the whole chain, UXUY adheres to the concept of  [Following smart money](https://blog.uxuy.com/uxuy-follow-smart-money-dc0269d2a931) to provide traders with social trading services.  **Introducing social mechanisms, as the most important part of the UXUY trading platform**, not only optimizes the path for traders to discover hidden assets but also completely changes the relationship between Trader and Token.

# Capturing the Value of Crypto’s “Post-Open” Era

UXUY has built a liquidity pool with stablecoins as the core, which greatly reduces the threshold for the use of DEX; and through the built-in “Gas-free” function, traders can achieve on-chain transactions without the need for main chain coins. The “  [multi-chain pipeline](https://blog.uxuy.com/what-problems-does-the-multi-chain-pipe-built-by-uxuy-address-d15bfe81b62d) “ concept proposed by UXUY will maximize and encourage users to  **hold native assets**,  **reduce the use of wrapped assets in the DeFi protocol**, and help users stay away from systemic  **leverage risk**.

The encryption industry is entering a “post-open” era

-   Binance builds side chain BNB Chain (BSC)
-   Coinbase Build Layer 2 Bas
-   Bybit Mantle Layer 2 Mantle
-   Metamask Build Layer 2 Linea

All centralized trading platforms are trying to build their own standards, their own protocols, and their own ecosystems. UXUY still believes in encryption and openness;  **This is not only the value of the next generation of DEXes, but also the historical opportunity for UXUY in the “post-open” era**.

Tokens are not scarce, what is scarce is liquidity, trader size, and real income. Only by capturing these values can tokens have value. This process is long, exploratory, and unstructured. The connected tokens may not be as popular as Bitcoin, but this process is meaningful.

_We build UXUY to capture the value of crypto transactions. The value of the trading platform will ultimately be reflected in the value of the “UXUY Token”._