UTONIC Protocol, a key player in The Open Network (TON) ecosystem, has achieved a significant milestone by securing $100 million in Total Value Locked (TVL) for its newly launched restaking solution.
This protocol empowers network participants by offering advanced restaking options that enhance network security and utility. UTONIC aims to decentralize TON’s operations and offer a more robust and secure blockchain ecosystem by focusing on cross-chain bridges, oracle networks, and sidechains.
A New Approach of UTONIC Protocol Towards Staking
UTONIC revolutionizes TON ecosystem by enabling stakers to repurpose their assets. The platform provides a marketplace where developers can allocate restaked TON to procure services. This method reduces the need for high-liquidity tokens as rewards, allowing developers to build a network from the ground up. Additionally, UTONIC introduces slashing conditions to ensure service quality and reliability, further enhancing the security framework.
Restaking Methods Unveiled
Restakers in TON participate through two different methods i.e., Native Restaking and LST Restaking. Native Restaking involves depositing TON into UTONIC smart contracts, utilized in ongoing TON staking. While on the other hand, LST Restaking offers an alternative by allowing stakers to deposit Liquid Staking Tokens (LSTs) into UTONIC smart contracts, leveraging existing staked assets across protocols.
These strategies allow operators to restake on UTONIC, contributing to a flexible and scalable infrastructure. TON’s strategies are unique of its kind as these will ultimately benefit the community by providing the best of their services.
UTONIC Protocol’s integration with prominent DeFi partners, including TonStake, iZUMi Finance, and StakeStone, underscores its commitment to expanding TON ecosystem. These partnerships empower validators and developers to secure additional services using reallocated assets, ultimately fostering a robust and scalable DeFi environment within TON network.
The Future of TON Blockchain
UTONIC’s approach to restaking is expected to play a crucial role in its expansion. By allowing existing staked assets to be used for additional decentralized applications (dApps) and services, UTONIC is setting the stage for TON’s future. The protocol’s seamless integration with TON’s unique infrastructure enhances security and promotes the scalability needed to support various applications within the ecosystem.
