In the world of DeFi it is never easy to find platforms that allow you to use multiple services quickly and with absolute ease. Unigate is one of them. That’s the reason for its vast and increasing popularity. Do you want to know more about how Unigate works? Keep reading!
What is Unigate?
Unigate is a decentralized finance platform for merchants. It allows users nto accept and transfer cryptocurrencies across chains with ease with a simple integration. Once the tokens are stored into their account, users can seamlessly access decentralized finance tools such as trading, farming, bridging, and routing across chains.
In other words, Unigate is the best tool for any company looking to accept and transfer cryptocurrencies trustlessly, free from middlemen or stringent KYC/AML processes.
The benefits of having a wrapped asset
You can use Unigate to request payments in any cryptocurrency and receive it in your Unigate account as a wrapped asset (wrapped-BTC). But what is a wrapped asset? It’s simple: wrapped assets are tokens that can be used on blockchain systems on which they are normally unallowed.
Some features of DeFi systems require you to trade digital assets that are not compatible with the platform you want to use. This led to the creation of wrapped assets. Thanks to them, it is possible to make a currency like Bitcoin compatible with the Ethereum ecosystem. The advantage is clear: most of the DeFi is based on the Ethereum network, and with wrapped assets you can trade and transfer BTC on the Ethereum blockchain (given that BTC is normally not allowed in such ecosystem) in total freedom.
You can use wrapped assets within the Unigate platform (stake, farm, trade).
What can you do on Unigate?
In a nutshell, the platform offers you access to multiple services such as:
Why is Unigate the best DeFi platform of the moment?
Unigate is a decentralized ecosystem that offers you countless services. But what makes it truly the best decentralized platform in the market are the following characteristics:
Unigate is blockchain-agnostic
Unigate is looking to build a blockchain-independent platform that works seamlessly with all of the underlying blockchain technologies. This means you can use Unigate in conjunction with any blockchain network of your choice.
Unigate is a completely transparent platform. You can see what happens every time you interact with the protocol. Furthermore, Unigate’s smart contracts and codebase are completely open source.
What is the Unigate Token (UGT)?
At the heart of all decentralized applications and services of the Unigate platform is the Unigate Token (UGT). This utility token is used to pay validators when they process inbound and outbound bridging or routing, but is also used for farming, staking and many other crypto-related functions.
Unigate allows you to trade any type of asset on any blockchain system that is supported by the platform.
In particular, the network provides you with access to:
⦁ A wide variety of assets thanks to cross-chain compatibility.
⦁ A superior user experience, thanks to open financial protocols and permissionless access.
⦁ Access to 1 transaction in fast chains (BinanceChain), smart chains (Ethereum), censorship-resistant chains (Bitcoin) and private chains (Monero).
Stay tuned in order to discover everything you need to know about DeFi and blockchain!