Binance Labs Invests in UXUY LN Expansion

The popular non-custodial DEX, UXUY, took its game up a notch after securing funding from Binance Labs. The maneuver is part of a larger collaboration between UXUY and the Binance Web3 Wallet. The goal is to expand the LN community, drive adoption, and improve infrastructure.

Push LN adoption

The funding gives UXUY a boost to introduce a host of new LN-powered initiatives. These services make it easier for other dapp creators to integrate features in the future which could bring more users into the LN economy.

Source – UXUY

Season 6 Incubation Program

Notably, UXUY was the star of Binance Labs' season 6 incubation program. The project and the team shined bright amongst the other invites. Their potential and understanding led to the team getting an invite to discuss their project at the Istanbul Binance Blockchain Week. This invitation demonstrates the recognized potential the platform has amongst professionals.

UXUY Features

UXUY is a full DeFi ecosystem that integrates a next-gen non-custodial DEX. Users can trade and manage assets across a multitude of blockchains in a secure manner using the intuitive interface. Specifically, the DEX supports ETH, MATIC, OP, ARB, BNB, AVAX, TRX, and many other popular options.

Launchpad 

One of the biggest draws of the network is the fact that it’s the first and only LN-powered launchpad. This designation makes the platform critical in the future development of new protocols to service the LN community. Launchpads are platforms designed to help startups secure funding, guidance, and skilled team members.

Lightning Address DID Services

UXUY is also known for its DID services. This feature streamlines the sending and receiving of LN funds between users. You can set up a single address that makes it simple to receive LN payments from anywhere on the planet.

MPC (Multi-Party Computation) Technology

MPC technology improves security and privacy. This protocol enables multiple users to exchange private data without revealing any direct information to the other party. This approach makes it much more difficult to track user wallet histories.

Synthetic Crypto Asset Program

The UXUY token can be used to access vital features and services within the economy. Additionally, it is used as a rewards token to pay network participants for their services. It can be found on multiple exchanges and traded for other popular coins.

Backers Support the Project

UXUY continues to raise eyebrows for its combination of features and strategic partnerships. The firm already secured  $3.2M during its seed round funding. Notably, this event saw the project secure support from Bixin Ventures, Mexc Ventures, Water Drip Capital, KuCoin Ventures, and Pionex.

UXUY – Driving LN Adoption

It's hard to deny any platform that has completed a Binance Labs incubation program and has a combination of features like UXUY presents. You can expect to hear more from this project as the Lightning Network and its followers continue to expand. For now, you can save on trades and other cool LN services using UXUY.