TRUST ISSUES - When UniCrypt set out on its journey, trusting new tokens on UniSwap was an issue due to an alarming amount of rug pulls on the ecosystem. So they created a liquidity token locker that token developers could use to lock their univ2 liquidity tokens for a set amount of time which proved to investors that liquidity cannot be rug pulled and can be used to give legitimacy to a project. Check here for an excellent example with OWL token - which has locked at a current value of 1 million USD worth of liquidity for 1 year. Unicrypt has empowered hundreds of pairs on UniSwap with excellent performance and adoption.
But that just scratches the surface of the depth and next leveling UniCrypt brings to the web3 universe. Their flagship product on deck is a yield farming dApp which will allow ANY ERC20 token to provide farming for their pairs on UniSwap. All governed by smart contracts and fully automated- this will allow the freedom that UniSwap provides to any token to add farms to any pair - a highly in demand feature for both farmers and token developers. This system, backed by a robust blockchain API, allows for multiple tokens to be farmed as rewards on a single UniSwap pool - a massive breakthrough in the space. Most importantly, farms can be deployed safely within a few clicks by token developers and navigated through an easy to use interface for farmers to find and farm their favorite tokens.
On the horizon, UniCrypt has products involving NFT’s which will be the safest protocol yet for creating trading pools on UniSwap.
POWERFUL INNOVATION / POWERFUL INFRASTRUCTURE
Access to the Ethereum blockchain is required for UniCrypt because they offer a browser for all ERC20 tokens and pairs on UniSwap. But not just any level of access...these applications require the fastest nodes on the planet, plus unlimited queries to function optimally and without glitch or hiccup. Mark Olsen, Co-Founder of UniCrypt weighs in “We tried a few other providers (including all the main options). I can confirm that switching to QuickNode sped up our back end API blockchain polling near to 100x. This is not a ballpark figure, the speed increase was measured for long-running ethereum cron jobs and the results were exponentially better in every case. Querying thousands of tokens used to grind our old systems to a halt and lead to out of sync data. This is all a thing of the past now. Very impressed with this service. QuickNode has our long term support!”
On top of the 100x performance over all other providers, UniCrypt cut their infra costs IN HALF, thanks to the efficient blockchain API solution they adopted.
A note from Co-Founder, Mark Olsen: “What I can say is QuickNode’s dedicate ethereum node is all that most dApps in the space will need for a long time before scaling issues are hit. If you are running multiple different dapps you may need an extra node, but the costs are very acceptable especially considering QuickNode offers no limit on queries for the same price as competitors offer products with limited API calls per day. There is no comparison here in our opinion. QuickNode wins hands down.”
QuickNode is building infrastructure to support the future of Web3. Since 2017, we’ve worked with hundreds of developers and companies, helping scale dApps and providing high-performance access to 16+ blockchains. Subscribe to our newsletter for more content like this and stay in the loop with what’s happening in Web3! 😃