The Creators of Liquidity Locking, UniCrypt, Rebrand to UNCX Network
Aiming to make the DeFi space more secure, UNCX Network has created and advocated the use of liquidity locking over the past few years at a fervent rate. Having experienced incredible success towards their goal of making this a common practice in the industry, they are now expanding their business to new horizons. With expansion, comes a rebrand and a website upgrade.
Liquidity locking is when project owners store their liquidity provider tokens into trustless smart contracts for a set & renewable period of time. It essentially removes their ability to unexpectedly withdraw all liquidity and run away with funds. It is a form of malicious DeFi practice (commonly known as “rug-pull” across the industry) prevention.
UNCX first created this tool in mid 2020. Over the last year and especially in the last 6 months, its use has skyrocketed. Investors now growingly expect the projects they invest in to have liquidity provider tokens locked – UNCX predicts that a significant amount of potential scams will be discouraged once the use of liquidity locking becomes complete status quo.
UNCX Network has not stopped at locking, it rather continues to build and develop services with an emphasis on security. The platform includes an on-chain automated launchpad, token vesting, staking & farming as a service and an incoming new minter with innovative and creative capabilities. While the team is not yet ready to disclose the other services and projects they have been silently building, it is a known fact that the 7th version of their platform is just a few months away.
The new website and sleek brand are a reflection of the growth they are experiencing and the new projects they plan to deliver on the market.
Check out their new website here: https://uncx.network
You can find a more in depth explanation of what liquidity locking is here: https://medium.com/@unicrypt/liquidity-locking-overview-112329ecfaaa
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