Value

EigenLayer

DeFi

Million

Rewards

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/utonic-protocol-achieves-100-million-in-total-value-locked/" data-wpel-link="internal" rel="noopener noreferrer nofollow">UTONIC Protocol Achieves $100 Million in Total Value Locked</a><br></p>
<p style="text-align: justify">The UTONIC Protocol, a restaking platform built on <a href="https://en.coin-turk.com/mantle-launches-liquid-staking-protocol-on-ethereum-mainnet/" data-wpel-link="internal" rel="noopener noreferrer nofollow">blockchain</a> technology, recently announced that it surpassed $100 million in total value locked (TVL). This milestone was achieved through the participation of leading investors, validators, and institutions. UTONIC stands out as the first restaking solution built on The Open Network (TON) and aims to decentralize the blockchain ecosystem.</p>
<h2 id="inspired-by-ethereum-s-eigenlayer">Inspired by Ethereum’s EigenLayer</h2>
<p style="text-align: justify">UTONIC introduced its restaking mechanism, inspired by EigenLayer, the first restaking protocol on Ethereum . However, the platform distinguishes itself by combining TON’s unique capabilities with innovation. By harnessing this power, it provides enhanced security and scalability for both validators and individual <a href="https://en.coin-turk.com/exploring-the-rapid-rise-of-dogwifhat-in-the-solana-ecosystem/" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a> holders.</p>
<p style="text-align: justify">UTONIC has established several strategic partnerships within and outside the TON ecosystem. Collaborating with prominent restaking solutions such as TonStake, iZUMi Finance, InfStones, Satlayer, and Stakestone, these partners have committed to offering consulting and technical support to enhance the platform’s integration and capabilities with various blockchain services.</p>
<h2 id="rewards-and-incentives">Rewards and Incentives</h2>
<p style="text-align: justify">UTONIC offers users three types of reward opportunities: native validator rewards, Active Validating Services (AVS) returns, and farming incentives. Users contribute to vital services like cross-chain bridges, oracle networks, and sidechains on the TON blockchain by restaking their assets, further improving the protocol’s overall security.</p>
<p style="text-align: justify">TON holders can restake their assets on UTONIC through various methods. Native restaking involves investing TON tokens in UTONIC’s smart contracts, while the LST restaking option allows users to invest Liquid Staking Tokens into UTONIC’s smart contracts. This method restakes LSTs already staked in different protocols via UTONIC.</p>
<p style="text-align: justify">Upon completing the restaking process, the platform generates a native token called uTON, which serves as a receipt for the restaked TON. uTON holders can earn rewards by leveraging partnerships, DeFi platforms, sidechains, and other segments of the TON ecosystem.</p>
<p style="text-align: justify">The UTONIC Protocol reflects the growing interest in restaking solutions within the blockchain world. The platform aims to enhance security while contributing to the development of decentralized applications. The various staking methods and reward systems offered to users ensure broad adoption by a diverse user base. Additionally, UTONIC’s strategic partnerships and innovative features position it as a significant player in the blockchain ecosystem.</p>
<p>The post <a href="https://en.coin-turk.com/utonic-protocol-achieves-100-million-in-total-value-locked/" data-wpel-link="internal" rel="noopener noreferrer nofollow">UTONIC Protocol Achieves $100 Million in Total Value Locked</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

UTONIC Protocol Achieves $100 Million in Total Value Locked

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