Singapore, Jan. 23, 2024 (GLOBE NEWSWIRE) -- On January 22, 2024, UXUY, the next-gen decentralized multi-chain trading platform incubated by Binance Labs, announced that it will officially launch Lightning Launchpad based on the Bitcoin Lightning Network on February 1. And published the UXUY Crypto Equity Manifesto II on the official blog, explaining the importance of crypto equity when issuing new assets based on Launchpad.
UXUY Lightning Launchpad takes advantage of the lightning network's high efficiency and low gas and relies on the Lightning Network Invoice random number to ensure that the Launchpad process is transparent. It expresses concerns about the current Launchpad infrastructures' over-reliance on ecological token pledges and the token self-circulation model and calls for the establishment of a system that does not require dependence on "a trustless" architecture for any third party. The Manifesto also elaborates on the six basic commitments of UXUY Lightning Launchpad to ensure that the Launchpad process is equal and transparent, will focus on project innovation, calls on Builders to create products with real needs and promote the development of the emerging crypto community.
TL;DR
- The current value capture of tokens has become overly dependent on staking rather than project innovation, and the self-circulation of tokens within the ecosystem is creating a new round of inequity.
- UXUY embraces the best embodiment of Bitcoin and the spirit of Satoshi's vision and establishes a "trustless" architecture that does not need to rely on any third party.
- UXUY Lightning Launchpad is exploring a new model that is equal, transparent, and based on the native consensus of the Bitcoin Lightning Network.
- Only innovation can bring more valuable "new assets" to the encryption ecosystem, not Ponzi in a closed ecological loop.
Crypto infrastructure, Layer2, and GameFi projects are booming.
As stated in The UXUY Crypto Equity Manifesto , countless innovations are sprouting and the barriers between ecosystems are being broken down by the flow of cross-chain transactions. However, another invisible barrier has formed within blockchain ecology: Launchpad has gone to the opposite side of equity.
The value capture of tokens has become overly dependent on pledges rather than project innovation. The self-circulation of tokens within the ecosystem is creating a new round of inequity. Frequent on-chain interactions have dragged users into the quagmire of sky-high gas fees. Currently, the encryption industry lacks equity and a transparent approach to Launchpad.
With the UXUY Lightning Launchpad, we introduce a solution based on the Bitcoin Lightning Network. The Launchpad process is guaranteed to be equal and transparent through the Lightning Network native Invoice random numbers. The extremely low transaction friction cost of 0.000500 sat/sat (500ppm) reduces gas fee consumption. At the same time, the green and energy-saving characteristics of the Lightning Network and the non-ecological token pledge mechanism are used to meet the higher demand for Launchpad services from the community and industry.
This is the best embodiment of UXUY’s embracing of Bitcoin and the spirit of Satoshi's vision of , establishing a “trustless” architecture that does not require reliance on any third party.
As Mr. Satoshi Nakamoto said:
I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party. — Satoshi Nakamoto（October 31, 2008）
The crypto industry is gradually moving towards green, efficient, innovative, equal, and transparent infrastructure.
UXUY Lightning Launchpad is exploring a new model that is equity, transparent, and based on the native consensus of the Bitcoin Lightning Network, calling on the crypto industry to launch Launchpad in a more equal way within each ecosystem. UXUY Lightning Launchpad will support more innovative, open, and transparent community projects to the greatest extent, and every participant should enjoy equal rights in the crypto world.
Crypto equity should be based on cryptography technology and a “trustless” mechanism, which requires the encryption industry to jointly create and maintain. We should not expect powerful centralized institutions and projects that rely on closed ecosystems to promote crypto equity. Pledges between tokens can never reflect the essence of crypto equity. Only innovation can bring more valuable new assets to the crypto ecosystem, rather than the Ponzi under an ecological closed loop.
An equal and transparent encryption environment is the best soil for innovation.
Therefore, we make the following commitments:
- The UXUY Lightning Launchpad is based on the Bitcoin Lightning Network and uses solutions with minimal energy loss to promote the transition of the crypto industry to low-carbon technology.
- The UXUY Lightning Launchpad process is completely open and transparent. The user’s winning method uses the Lightning Network Invoice random number (based on the Lightning Network’s native consensus). The issuance process is traceable and verifiable.
- UXUY Lightning Launchpad relies on the low cost and efficient performance of the Lightning Network to ensure that the user's Gas Fee loss is minimized.
- UXUY Lightning Launchpad does not use Token self-circulation to capture token value. The value of new assets comes from the innovation of the project.
- The UXUY Lightning Launchpad project does not restrict user transactions. The tokens are fully circulated on the market and there is no lock-up period.
- UXUY Lightning Launchpad is completely community-driven and protects the interests of community members. All data on the chain is open and transparent and accessible to everyone.
UXUY sincerely invites more builders to join the UXUY Crypto Equity Manifesto, establish a transparent and equal Launchpad mechanism, create the most potential soil for innovation, and embark on a revolutionary Launchpad journey to enable every developer to invest in products that meet real needs as their core, are not restricted by the inherent token operating model of the encryption industry, and achieve complete decentralization, data transparency, and healthier token economics.
Everyone on earth can become a beneficiary.
