UTONIC Protocol, the first Restaking protocol exclusively built for The Open Network and TON tokens, announces the launch of a pre-staking event for its Restaking program uTON on Oct 21, 2024.
Backed by top-tier innovators of the restaking segment and The Open Network’s ecosystem, UTONIC enables TON restakers to earn triple yield (staking yield, restaking yield, and farming yield) and encourages innovation in the ecosystem by enhancing network security, ultimately benefiting projects such as cross-chain bridges, oracle networks, and sidechains.
UTONIC’s initiative aims to decentralize the way TON’s blockchain operates, fostering shared security and a more robust ecosystem for The Open Network. Being the first restaking protocol for TON, UTONIC aims to extend The Open Network’s security to thousands of Telegram applications and build the revenue-sharing layer for one billion users.
DeFi-Focused Background and Partners
The core team of UTONIC Protocol have dived deep into DeFi and worked to catch up with the need for restaking. Supported by TonStake, iZUMi Finance, InfStones, SatLayer, StakeStone and inspired by EigenLayer, UTONIC combines innovation with TON’s unique use-cases, empowering TON’s validators as well as individual token holders, to enhance the security and scalability of local dApps.
UTONIC Protocol has previously announced their $100M fundraising details and a DeFi-focused background, with 10+ notable projects joining as UTONIC’s AVS partners. In addition, UTONIC is hosting the pre-launch event, marking a new chapter in expanding the UTONIC ecosystem through DeFi protocol collaborations, including Bemo, EVAA, DeDust, Torch, P2P, Chorus One, and Ston.fi and more. Bemo’s stTON (a liquid-staked version of TON) can now be used to mint uTON. Torch, Ston.fi, and DeDust will support uTON liquidity farming by offering additional incentives. P2P and Chorus One will join as restaking operators, with more details to be announced soon.
In the future, UTONIC plans to explore further collaborations with DeFi protocols to expand uTON’s use cases and enhance yield opportunities for users, aiming to unlock new avenues for growth and strengthen UTONIC’s position in the TON blockchain.
The core team of UTONIC Protocol have dived deep into DeFi and worked to catch up with the need for restaking. Supported by TonStake, iZUMi Finance, InfStones, SatLayer, StakeStone and inspired by EigenLayer, UTONIC combines innovation with TON’s unique use-cases, empowering TON’s validators as well as individual token holders, to enhance the security and scalability of local dApps.
The pre-launch event of uTON unfolds with several major partnerships, including Bemo and Ston.fi, who contribute to the on-chain liquidity of uTON.
stTON (a liquid-staked version of TON) of Bemo is now an applicable collateral for minting new uTON. Ston.fi will support uTON liquidity farming by providing extra incentives.
Available Staking Events
Along with the launch of uTON pre-staking program, UTONIC Protocol also announces two major events to generate exposure among users outside the TON ecosystem: TonicWave and Binance Web3 Wallet Campaign.
TonicWave is a Points Program designed to allocate UTONIC’s native token to reward the loyal users of UTONIC Protocol.
By depositing TON tokens into UTONIC Protocol and mint uTON, or supplying uTON tokens to designated staking pools, users will passively earn UP points while enjoying the native yield provided by uTON.
In collaboration with Binance Web3 Wallet, UTONIC Protocol will also launch an exclusive campaign to enable the users of Binance Web3 Wallet to enter the Restaking layer of The Open Network. Through yield opportunities and task-based events, UTONIC Protocol is expected to onboard a new wave of Web3 users to enter the restaking and DeFi layer of TON Blockchain, driving real adoption cases.
Further details of the Binance Web3 Wallet campaign are to be revealed.
Envisioning the Future of TON Blockchain through Restaking
The crypto industry is currently undergoing a time period that lacks new users and adoption cases. The Open Network has gained popularity through the adoption of mini-apps on the Telegram app, and has caught the market’s attention with the speculation that it will continue to onboard millions of new users.
Unlike many popular Telegram mini-apps that are built on Telegram but have not interacted with the TON blockchain, UTONIC uplifts the yield opportunity for applications built on TON, encouraging innovations and foraging use cases for the TON blockchain.
Through UTONIC’s restaking approach, the security of dApps and protocols on TON and Telegram can be strengthened. UTONIC incentivizes users to restake TON and encourages protocols to join as AVS partners, maximizing the security of the TON and Telegram ecosystem.
