Unicrypt has several applications and tools to enable efficient token farming. This makes it easy for developers and farmers to create their crypto farms, fulfilling its mission of having one ERC-20 token farming center. Although Unicrypt operates along the same lines as Uniswap, a trading platform for different ERC20 tokens, it does not compete in liquidity provision. Instead, it works alongside it, supporting it to become the best ethereum DEX. This is because the Unicrypt dApp connects to Uniswap to fulfill its mandate.
Besides its native token, UNCL will become one of the most farmed tokens since it pairs with different coins. Unicrypt will more likely dominate the farming space because of its user-friendly mobile farming platform, which offers reliable real-time analytics and generates high returns on multiple tokens using a single coin type.
This deflationary Unicrypt ecosystem has various tools that enable staking, burning, farming, and locking community tokens. Although its APY could remain lower than that of established sites such as SUSHI and PICKLE, it looks forward to outperforming other reputable platforms like AAVE and COMPOUND, among others, in this regard.
The focus of Unicrypt is to have more than 1 800 pairs. This stimulates not only liquidity in pools but also makes UNCL more useful than before. Since the platform rewards farmers highly, they will provide liquidity to other tokens other than ETH. However, the farmer’s earnings depend on the proportion of the individual staked tokens’ value to the aggregate staked tokens’ value.
Creating farms: Different developers can create their farms on the Unicrypt protocol. They need to have Kovan ETH because they launch and test the tokens using the Kovan token contract. As a fact, the developers need to test the burning and the locking mechanisms, for instance. Unicrypt plans to launch farms for multiple Uniswap tokens such as UNCL-DEXT and UNCL-YFDAI.
Farming contracts: Unicrypt has two contracts that perform the required functions.
Factory contract: This contract records all the important data such as farms and crucial user activities.
FARMGENERATOR01: This is the contract that creates farms according to the required parameters. It also locks the farm rewards for the entire period.
The platform’s smooth functioning also depends on two key features, the Uniswap browser and Proof-of-Liquidity.
Uniswap Browser: This browser shows a list of all paired tokens which have locked liquidity. By design, an individual can withdraw only up to 50% of the locked liquidity, reducing the possibility of rug pulls.
Proof of liquidity: This is the feature that shows the locked liquidity. Interestingly, the platform shows a trust score of the locked tokens. The higher the score, the lower the possibility of a rug pull.
The token specifics are:
- Initial Supply: 50,000 UNCX
- Current Supply: 49,063 UNCX
- Total burnt: 937 UNCX
- Price: $32.02
- Fully diluted market cap: $1,571,044
Notably, this is a deflationary token since the contract does not mint the tokens. Instead, from time to time, it burns them using the fees it collects.
Whereas the UNCX token is deflationary, the UNCL is inflationary. Users who stake the UNCL along with their favorite tokens earn UNCX.
- The specifics of the UNCX tokens are:
- Current Supply: 136,070 UNCX
- Price: $4.61
- Fully diluted market cap: $626,666
The community members of Unicrypt interacts on the following platforms: