NewsFlash Articles Data Fundraising BlockBeats Pro

UXUY releases 'Crypto Equality Manifesto II - Lightning Launchpad', calling for IDOs to be decentralized.

Read this article in 9 Minutes

UXUY Lightning Launchpad leverages the efficiency and low gas fees of the Lightning Network, ensuring fairness and transparency in the Launchpad process through the use of Lightning Network invoice randomization. Concerns have been raised about the curren

The content you provided is:

Source: UXUY

On January 22, 2024, UXUY, the next-generation decentralized multi-chain trading platform incubated by Binance Labs, announced the official launch of Lightning Launchpad based on the Bitcoin Lightning Network on February 1. The "UXUY Cryptographic Equality Declaration II" was also published on the official blog, elaborating on the importance of cryptographic equality when issuing new assets based on Launchpad.

UXUY Lightning Launchpad leverages the advantages of the Lightning Network, which is efficient and has low gas fees. Based on the Lightning Network invoice random number, the Launchpad process is fair and transparent. Concerns have been raised about the current Launchpad process, which relies heavily on the ecological token pledge and token self-circulation. Therefore, there is a call to establish a "trustless" architecture that does not rely on any third party. The declaration also outlines six basic commitments of UXUY Lightning Launchpad, ensuring a fair and transparent Launchpad process, focusing on project innovation, calling on builders to create products that meet real needs, and promoting the development of emerging crypto communities.

Summary:

1. The value capture of the current token has become overly dependent on staking rather than project innovation, and the self-circulation of tokens within the ecosystem is forging a new round of inequality.

2. UXUY is the best embodiment of the spirit of Bitcoin and Satoshi Nakamoto, establishing a "trustless" architecture that does not rely on any third party.

3. UXUY Lightning Launchpad is exploring a new model that is fair, transparent, and based on the native consensus of the Bitcoin Lightning Network.

4. Only innovation can bring more valuable "new assets" to the encrypted ecosystem, rather than Ponzi schemes in a closed ecosystem.

The development of encryption infrastructure, Layer2, and GameFi projects is booming. As stated in the "UXUY Cryptographic Equality Declaration," countless innovations are sprouting and growing, and the barriers between various ecosystems are being broken down by cross-chain transactions. However, another invisible barrier has formed within the ecosystem: Launchpad has moved away from equality and towards opposition.

The value capture of tokens has become overly dependent on staking rather than project innovation, and the self-circulation of tokens within the ecosystem is forging a new round of inequality. Frequent on-chain interactions are dragging users into the quagmire of sky-high gas fees. Currently, the cryptocurrency industry lacks a fair and transparent launchpad method.

At UXUY Lightning Launchpad, we have introduced a solution based on the Bitcoin Lightning Network. The Lightning Network's native Invoice random number ensures fair and transparent Launchpad processes, while the extremely low transaction friction cost of 0.000500 sat/sat (500ppm) reduces gas consumption. At the same time, leveraging the green and energy-saving features of the Lightning Network, we have implemented a mechanism that does not require ecological token collateral to meet the higher demands of the community and the industry for Launchpad.

This is the best embodiment of UXUY embracing the spirit of Bitcoin and Satoshi Nakamoto in the encryption industry, establishing a "trustless" architecture that does not rely on any third party.

As Mr. Nakamoto said:

I have been developing a new electronic cash system that is completely peer-to-peer with no trusted third party. - Satoshi Nakamoto (October 31, 2008)

The encryption industry is gradually moving towards green, efficient, innovative, fair, and transparent.

UXUY Lightning Launchpad is exploring a new model that is fair, transparent, and based on the native consensus of the Bitcoin Lightning Network. It calls on the cryptocurrency industry to launch Launchpads in a more equal way within each ecosystem. UXUY Lightning Launchpad will support the most innovative and openly transparent community projects to the fullest extent possible, and every participant should have equal power in the world of cryptocurrency.

Encryption equality should be built on top of cryptographic technology and "trustless" mechanisms, which requires the encryption industry to create and maintain together. We should not expect powerful centralized institutions or project parties that rely on closed ecosystems to promote encryption fairness. The mutual collateral between tokens can never reflect the essence of encryption fairness. Only innovation can bring more valuable "new assets" to the encryption ecosystem, rather than Ponzi schemes in a closed ecosystem.

A fair and transparent encrypted environment is the best soil for innovation to emerge.

Therefore, we make the following commitments:

1. The establishment of UXUY Lightning Launchpad is based on the Bitcoin Lightning Network, adopting the solution with the minimum energy consumption to promote the transition of the cryptocurrency industry to low-carbon technology.

2. UXUY Lightning Launchpad process is completely open and transparent. The user selection process uses Lightning Network Invoice random numbers (based on Lightning Network's native consensus), and the issuance process is traceable and verifiable.

3. UXUY Lightning Launchpad leverages the low-cost and high-performance of the Lightning Network to minimize users' gas fees.

4. UXUY Lightning Launchpad does not capture token value through self-circulation without using tokens. The value of new assets comes from the innovation of the project.

5. UXUY Lightning Launchpad project does not restrict user transactions, and tokens are fully circulated on the market without any lock-up period.

6. UXUY Lightning Launchpad is completely community-driven, protecting the interests of community members, with all on-chain data publicly transparent and accessible to everyone.

UXUY invites more Builders to join the "UXUY Cryptoequality Declaration" and establish a transparent and fair Launchpad mechanism to create the most potential soil for innovation. Embark on a revolutionary journey of Launchpad innovation, allowing every developer to focus on products that meet real needs as the core, free from the inherent token operation mode of the cryptocurrency industry, and achieve complete decentralization, data transparency, and a healthier token economy.

Every person on Earth can become a beneficiary.