Is Defi good enough now?

As Ethereum founder Vitalik said in《What in the Ethereum application ecosystem excites me》

Decentralized finance is, in my view, a category that started off honorable but limited, turned into somewhat of an overcapitalized monster that relied on unsustainable forms of yield farming, and is now in the early stages of setting down into a stable medium, improving security and refocusing on a few applications that are particularly valuable. (Dec. 5, 2022) — Vitalik Buterin

Background

What problems has Ethereum encountered in its development? How can we make the Ethereum ecosystem better? As Vitalik said, after years of development, the Ethereum ecosystem has gradually changed from a barbaric growth stage to a professional one, and the applications in the field of decentralized finance have begun to focus on applications that can generate real value. In the field of cutting-edge technology optimistic and ZK rollup technology, high-quality application layers emerge endlessly, making their own contributions to the establishment of Ethereum ecology.

DeFi has been rapidly expanding, and with it comes the challenge of trading assets across multiple blockchains. The fragmented liquidity of the current DeFi ecosystem has led to a suboptimal trading experience for users, especially when trading on different blockchains. That's where UXUY comes in. We aim to innovate and enhance the UXUY DEX platform to provide the best trading experience for our users. We are excited to embark on this journey and revolutionize the DEX space.

What is UXUY?

UXUY is the next-gen decentralized multi-chain trading platform that provides users with a CEX-like trading experience by establishing a "stablecoin-centric" environment. Following the philosophy of "Follow Smart Money," UXUY significantly reduces the barriers to social trading on the blockchain. It supports mainstream public chains and integrates the advantages of "wallet + trading". UXUY actively participating in the construction of the "Unclaimed" ecosystem.UXUY actively promotes community construction, is committed to promoting the development of optimistic and ZK rollup technology, and seeks new breakthroughs.

No Seed Phrases

UXUY, as a non-custodial MPC wallet, effectively mitigates seed phrase vulnerability. It currently employs a 2-2 sharding model, where users possess one shard, and Platform Validators hold the other; users can choose from various backup methods for their user shard, while Platform Validator shards are backed up across multiple clouds to ensure asset security. UXUY is presently developing a social recovery version, which will upgrade to a 2-3 sharding model. The third shard will be safeguarded by a third party designated by the user, thereby achieving diversified wallet security and recovery.

Upholding a decentralized ethos and embodying 'Your Crypto, You Control.' UXUY employs the MPC wallet solution to minimize the barriers to using decentralized applications.

Seamless Cross-Chain Transactions

Through the creation of uPool and the establishment of Multi-chain Pipe, UXUY facilitates the convenient use of stablecoins like USDT and USDC for trading, bridging the experience gap between DEX and CEX. The seamless cross-chain process relies on native assets, reducing the scale of wrapped assets and significantly enhancing transaction immediacy.

UXUY also advocates for reducing wrapped assets entering Defi protocols to prevent TVL leverage bubbles and help users avoid systemic risks on-chain.

GasPool: Exclusive Gas Credit Quotas

UXUY introduces GasPool, allowing users to obtain an exclusive gas credit quota with zero barriers for transaction gas payments.

GasPool includes the Gas-free feature, enabling traders to complete transactions without depending on native tokens.

April 11, 2023, UXUY raised $3 million to build the next-gen MPC-based decentralized trading platform. Jordan, Co-founder of UXUY: “We are excited to form strategic partnership with all our investors! Our mission, ultimately, is to build a decentralized Binance, and our vision is to build the entry portal for Web3 to welcome the mass adoption of 1 Billion users.”

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Key features include:

• Stablecoin-centric 💰

• Easy to Integrate 🛒

• Multi-Chain Pipe 🚰

• Security First 🔒

• Your Crypto, You Control. 👊

Advantages

At UXUY, we truly believe in the following thesis and build product suites to help crypto investors crack the code to wealth easier：

• Aggregating liquidity is the most effective way to achieve better trading depth.

• With the flourishing of L2 and new mainnet, Web3 is entering the era of “Thousand Chains, One Network”.

• Self-custody of assets is becoming the new norm, lowering the barriers to entry for DApps.

Our mission is to get more people to learn about Web3, learn about Ethereum, and join the decentralized revolution. At UXUY, we understand that kickstart web3 trading can be a challenge for many platforms. On UXUY trading platform, we will adopt a stable currency capital pool to protect the capital security of every user, even if the user has no experience in digital currency trading. UXUY will be used to provide more convenient cross-chain transactions (lower fees, faster transaction speed, safer transaction surge).

We firmly believe in the potential of multi-chain solutions, and we anticipate a future where thousands of assets will be issued on different chains daily. By providing a reliable and secure protocol that supports a vast array of chains, we enable you to access an even wider selection of assets and capitalize on the explosive growth of decentralized finance.

At UXUY, security is our top priority. We have implemented the latest security measures to protect your funds and personal information. Our protocol is non-custodial, meaning that you retain full control of your assets at all times. Our smart contract ensures that all trades are executed in a transparent and secure manner, without the need for intermediaries.

What else is special?

Decentralization and efficiency are the principles that UXUY has been adhering to in all its applications and projects

Roadmap

1. On April 11, 2023, UXUY raised $3 million to build the next-generation MPC-based decentralized trading platform.

2. In August 2023, UXUY released the V0.1.0 APP beta version.

3. In the second half of 2024, UXUY will launch the second version of social trade.

4. In 2024, derivatives trading will be supported, and the project platform "Optimus" will be launched.

5. Stay tuned.....