How UTY Empowers to build a true cross-chain Defi ecosystem
UTY NETWORK can not only link different public chains, but also allow parachains to be mutually linked while maintaining independence. Just like the Acala project in the Polkadot ecosystem recently, it successfully signed the 7 million USD SAFT agreement with Pantera Capital.
So is UTY and Ethereum in competition? No, UTY NETWORK can help Ethereum even more. UTY can increase the liquidity of funds between the project and Ethereum by building a bridge between cross-chain projects and Ethereum, which can ultimately benefit all Defi users.
In the future, Defi will be a large enough market, so at this stage, UTY NETWORK and cross-chain projects such as Polkadot and Chainlink, as well as public chains such as Ethereum, all sharing a mutual goal, that is to make the Defi cake bigger enough for everyone.
The following advantages of UYT is very crutial to Defi products:
The UYT network is a heterogeneous multi-chain structure blockchain that can support backward compatibility with one or more existing blockchain systems.
Support many highly differentiated consensus systems to interoperate in an untrusted, fully decentralized federation.
UYT uses an original economic model to enable any node in the system to have the benefits of “mining”.
Each parachain in the UYT ecosystem will have a variety of different applications, responsible for different industrial directions.
Although the concept of Defi is very hot now, however all Defi products currently only stay in each public chain’s own ecology, and the cross-chain Defi ecology has not been implemented. UYT aims to achieve cross-chain communication and value exchange, and develop truly decentralized financial services and products. For example, cross-chain decentralized flash swaps, cross-chain asset support, cross-chain decentralized lending, oracles, etc. At present, our programming team is also accelerating the construction of infrastructure suitable for the landing of more Defi products and services, and is committed to creating a true cross-chain Defi ecosystem. This is just a small step in UYT’s future plans, stay tuned!
