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UXUY becomes the world's first DEX to support Lightning Network and launches the first round of Bitcoin Sats airdrop.

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Can Lightning Network rescue Web3 from the quagmire of exorbitant gas fees?

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Source: UXUY

The price of Bitcoin has stabilized above the $40,000 mark, and the wave of Ordinals and BRC20 inscriptions is sweeping across the entire Web3. As of December 2023, it took less than a year for people to pay 3,363 bitcoins as gas fees for inscribing and trading inscriptions, equivalent to $130 million. This is undoubtedly a huge cost, but behind the wealth story of ORDI's thousand-fold increase, more BRC20 inscriptions are being dragged into the "sky-high gas consumption" quagmire, and this wave of inscriptions is evolving into a frenzy for miners.

The next-generation multi-chain trading platform UXUY, incubated by Binance Labs, officially announced its support for Lightning Network and Lightning Address on December 5, 2023, becoming the world's first DEX to support Lightning Network. This also marks the achievement of the first phase goal of the Bitcoin Layer2 plan - "Struck by Lightning" initiated by UXUY.

UXUY is working hard to help users escape from the quagmire of "sky-high gas consumption" through lightning network, truly achieving zero gas fees and millisecond-level transactions with Bitcoin's native consensus.

Users can activate the Lightning Address DID service (e.g. hello@uxuy.com) and receive up to 5,000,000 Bitcoin Sats airdrop by using the latest version of UXUY APP. Currently, nearly 10,000 users from over 40 countries and regions have participated in the activity and successfully received the airdrop rewards.

Reintroducing Lightning Network

As a Bitcoin Layer2, it has successfully solved the problems of long block confirmation time and expensive Gas fees on the Bitcoin mainnet. Depending on the security of the Bitcoin mainnet, the Lightning Network has become the most promising Layer2. Currently, a total of 5,080 BTC is stored on the Lightning Network, and more than 1.16 million independent users use the Lightning Network for transactions and payments every month, and this number is still growing.

On October 18, 2023, Lightning Labs officially released Taproot Assets, ushering in a new era of multi-asset support for the Bitcoin Lightning Network. From now on, it will be possible to issue digital assets and stablecoins on the Lightning Network.

UXUY founder Kevin once published an article on his blog titled "Stablecoins are the biggest variable in the Bitcoin ecosystem", in which he mentioned:

Currently, the total market size of stablecoins is $126B, and it does not run on Bitcoin at all. In five years, when we look back at this data, we will get a completely new answer, which is the biggest variable in the Bitcoin ecosystem in the next five years. This is the challenge and opportunity for UXUY.

Stablecoin introduction to the Lightning Network will not only increase the scale of payment scenarios, but also improve the convenience of trading native Taproot Assets in the Bitcoin ecosystem. Traders can not only trade diversified assets, but also enjoy the ultimate experience of zero gas fees.

In the near future, we will see that: encrypted assets are on the Lightning Network, stablecoins are on the Lightning Network, and even Bitcoin is on the Lightning Network... The Lightning Network has nurtured infinite possibilities for Web3. UXUY has launched this round of airdrops, providing users with free Lightning addresses DID service, which will become the passport of the new era of Web3, allowing users to navigate freely in the ecosystem of the Lightning Network.

Users from all over the world share the joy of receiving Bitcoin on the X platform.

UXUY All In Bitcoin Track

UXUY, as a DEX, is fully betting on the Bitcoin track. And the fact has proven that it is correct.

On June 16th, 2023, UXUY released an article titled "Why did UXUY choose to support .Sats ahead of the Bitcoin ecosystem boom?", marking their official entry into the Bitcoin ecosystem. Following this, UXUY launched the Struck by Lightning plan:

· On October 13th, 2023, UXUY officially implemented the Lightning Network node, becoming the first DEX to support Lightning Network nodes.

· On October 18th, 2023, UXUY discovered a major vulnerability in the Lightning Network and submitted bug fix suggestions, becoming a core contributor to the Lightning Labs.

· On October 30th, 2023, UXUY will fully support Bitcoin Taproot assets.

· On November 6th, 2023, UXUY launched the Taproot Assets blockchain explorer V1.0.

· On November 13, 2023, UXUY launched the Columbus Plan, forging the $TAPROOOT asset and conducting a full network airdrop.

· On December 5th, 2023, UXUY launched its lightning address service, becoming the world's first address service compatible with multiple chains.

UXUY, unlike traditional Bitcoin maximalists, had already connected to Ethereum, BNB Chain, Polygon, Tron, Optimism, Arbitrum, Avalanche-C, Fantom, and more than ten public chains and Layer2 before accessing Bitcoin and Lightning Network. UXUY is leveraging the convenience of the Lightning Network to reconnect the entire crypto continent.

UXUY values the development opportunities of the Bitcoin Layer2 ecosystem and attempts to rescue users from the quagmire of "sky-high gas consumption", preparing for the arrival of the "next billion users".