UniPort Network: Integrate full-chain BTC liquidity and build a BTC re-pledge (Restaking) application chain based on the UPSD stable currency system

Ethereum Restaking protocol Eigenlayer received seed rounds of US$14.5 million and US$50 million in 2022 and 2023 respectively, and recently received US$100 million in financing from a16z, the most in the capital market. In terms of market performance, it has attracted a large amount of Ethereum and Ethereum LSD assets since its opening. The current protocol TVL is as high as 10 billion US dollars, and is showing a rapid upward trend.

As the world’s largest encrypted asset, Bitcoin assets are limited by the non-Turing complete nature of the Bitcoin blockchain and cannot implement smart contract scenarios on the chain. The huge amount of Bitcoin assets has become a precipitated asset, lacking liquidity and making it difficult to achieve effective value accumulation. Let its digital gold status be inferior to Ethereum in terms of interest generation.

UniPort was born based on this background, aiming to fully release the liquidity of Bitcoin assets and become the "EigenLayer" of the Bitcoin ecosystem

Uniport.Network is a Bitcoin restaking chain based on Polygon CDK and UPSD stablecoin system:

· UniPort network is a BTC smart contract layer (L2) compatible with evm. By integrating ceffu and babylon, BTC Holders can earn a variety of restaking benefits.

· 100% of the governance token UP token is airdropped to the community

As the inscription narrative gradually cools down, the direction of the Bitcoin ecological narrative begins to shift. To Bitcoin Layer2. Many Bitcoin L2s have sprung up, but most L2s currently do not have smooth asset cross-chain functions, cannot maximize the liquidity of Bitcoin assets, and cannot achieve multiple benefits.

From UniPort Network’s recent AMA, we can see that the UniPort team has in-depth thinking on how to build a successful BTC layer2. The following are excerpted views:

1. How does UniPort establish an on-chain application ecosystem for BTC L2?

The UniPort team’s view is that a chain application with real demand can make a BTC L2 a huge success. UniPort believes that in addition to supporting the Bitcoin ecosystem In addition to new assets (Sats, ordi, atoms, quack, rune), the market's biggest demand for BTC L2 is to allow BTC holders to obtain higher asset usage efficiency and higher pledge returns. A successful BTC L2 cannot simply copy the on-chain application ecology of Ethereum. Many well-known public chains with resources and funds have verified that this path will not work.

Based on the above judgment, UniPort Network’s on-chain application ecosystem will be built around the UPSD stablecoin system. The main strategy for building an on-chain application ecosystem is to make DEFI applications accessible Combinatorial, continue to improve the staking yield of Btc holders;

2. Reject vc monopoly, inherit the spirit of the Bitcoin community, 100% of UP tokens will be airdropped to Community users, why does the UniPort team use 100% airdrops to distribute tokens, and what income does it rely on to support the team's continued development?

Mark, the founder of UniPort, is himself a very successful investor in the encryption industry. He has served as the market leader at a well-known CEX for many years and has invested in many well-known projects in the industry. Mark firmly believes that the assets of the Bitcoin ecosystem should inherit the decentralized spirit of Bitcoin. Only in this way can a consensus as strong as the Bitcoin community be established, so he chose to airdrop 100% of UP tokens to the community.

The team’s funding mainly comes from founder Mark’s own funds. Mark has invested nearly 20 million US dollars in the UniPort project, which is far larger than many The sum of multiple rounds of financing for similar projects.

UniPort’s core income comes from the node income of UPchain. We believe that as long as we can get the support of the community, based on the current node income of second-tier chains such as zksync, UniPort will have good profit returns.

3. Preview of recent airdrop activities:

1) Happy Mark activity: targeting three categories The Inscription Asset community airdropped 210 million UP tokens. Go to the official airdrop page and sign to check the airdrop amount.

The Happy Mark activity is divided into three rounds:

The first round will be for BRC20 holders Assets: SATS, RATS; ARC20 Assets: ATOM, QUARK, SOPHON; SRC20 Assets: STAMP inscription holders conduct airdrops.

The second round will airdrop to users holding EVM ecological assets such as AVAV, POLS, ALLY and ETHS.

The third round will be airdropped to Inscription users holding TREAT, TRICK, and RGBS in Lightning Network and RGB ecological assets.

2) Lucky Mark activity cross-chain reward activity is about to start:

The "Lucky Mark" activity mainly completes the acquisition of points on the chain by experiencing the cross-chain operation of UniPort Bridge Bitcoin assets. Users will share the airdrop of 2.1 billion UP tokens in proportion to their points.

(1) Users can and will only receive points when transferring assets from the BTC chain to other evm compatible chains on the platform

(2) The rules for obtaining points are: when the cross-chain assets are BTC, SATS and ORDI, users will obtain points based on the real-time prices of the above assets using the formula of 1USDT=1 points. Corresponding cross-chain point rewards; when the cross-chain assets are ATOM and QUARK, users will obtain corresponding cross-chain point rewards based on the real-time price of the above assets with the formula of 1USDT=0.6 points.

(3) Invite friends to get points:

User A uses the invitation code to invite friends When B registers and uses Uniport, he can get a reward of 16% of the cross-chain points from user B; when user B invites user C, user B will get a reward of 16% of the cross-chain points from user C, and user A will get User C will be rewarded with 8% of cross-chain points;

4. UniPort Network’s BTC Restaking implementation mechanism

UBTC holders on UPChain can obtain multiple benefits such as Babylon staking income by staking UBTC, BTC funding fees earned by the Delta Neutral strategy, and DEFI income using UPSD and LSD tokens sUBTC.

1) Babylon pledge income

Users can pledge BTC to the Babylon protocol and receive Corresponding staking rewards. This provides users holding BTC with a way to add value to their assets while also promoting the development and stability of the Babylon ecosystem.

2) Delta neutral strategy earns BTC funding fees

Delta neutral strategy is An investment strategy that hedges risk by making both long and short positions simultaneously. Under this strategy, users can take advantage of BTC’s funding rate to gain additional income with low risk.

3) DEFI income

Users can also use UPSD and LSD tokens sUBTC to earn Get DEFI income. sUBTC refers to staked UBTC tokens. Users holding sUBTC can participate in various activities in the DEFI ecosystem, such as liquidity mining, lending and trading, and earn profits from them.

5. What is the vision of UniPort.Network?

The vision of UniPort.Network is to become the "EigenLayer" of the Bitcoin ecosystem, maximize the potential of Bitcoin assets, and achieve a TVl of 200,000 BTC. The market value of UP token exceeds 10 billion US dollars, ranking among the top 20 in the encryption industry.

Conclusion: The slogan of rejecting VC monopoly and airdropping 100% to the community has indeed united the hearts of the community and is worth looking forward to! In the BTC L2 track that stimulates competition, there will definitely be projects with a market value of tens of billions of dollars, but achieving this goal is extremely challenging. For the community, we are willing to support projects that allocate more tokens to community users and reject PUA projects; we hope to obtain project tokens at the same cost and rights as investment institutions and project parties! Historically, only projects that respect the rights of community users have achieved great success.

This article is from a submission and does not represent the views of BlockBeats