What is Unigate? How does it work?
In DeFi's vast landscape, it's never easy to find platforms that allow you to use multiple services quickly and easily. Unigate is one of them. Its popularity is steadily rising, on par with the functionality it can provide. Want to learn more about how Unigate works? Read on.
What is Unigate?
Unigate is a decentralized financial platform for merchants. Anyone can start transferring cryptocurrencies with ease through a simple integration. Once the tokens have been deposited into your account, you can confidently access decentralized financial tools such as trading, farming, bridging and more.
In other words, Unigate is an essential tool for any company that wants to exchange and transfer cryptocurrencies reliably and free from intermediaries or rigorous KYC/AML processes.
The benefit of having a wrapped asset
You can use Unigate to request payments in any cryptocurrency and receive them in your account in the form of a Wrapped Asset (wrapped-BTC). But what is a wrapped asset? It's very simple: these are tokens that are compatible with blockchain platforms that they are not normally compatible with.
Some features of DeFi systems require you to exchange digital assets that are not compatible with the platform you wish to use. To overcome this inconvenience, wrapped assets have been created. Thanks to them, it is possible to make a currency like Bitcoin compatible with the Ethereum ecosystem. The advantage is obvious: most of the DeFi is based on the Ethereum network and in this way you can exchange and transfer BTC in total freedom.
What can you do on Unigate?
Specifically, the platform offers you access to multiple services such as:
- Trading
- Farming
- Bridging
- Routing
Why is Unigate the best DeFi platform at the moment?
Unigate is a decentralized ecosystem that offers you countless benefits. But what really makes it unsurpassed are the following features:
Unigate is blockchain-agnostic
Unigate is trying to build a blockchain-independent platform that works seamlessly with all the underlying blockchain technologies. This means you can use Unigate in conjunction with any blockchain network of your choice.
Transparency
Unigate is a completely transparent platform. You can see what happens every time you interact with the protocol. In addition, 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 on 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 it is also used for farming, staking and many other functions typical of the crypto world.
Unigate allows you to exchange any type of asset on any blockchain system that is supported
by the platform.
Specifically, the network provides you with access to:
- A wide variety of resources thanks to cross-chain compatibility.
- A superior user experience with open financial protocols and permissionless access.
- Accesso a 1 transazione a catene veloci (BinanceChain), catene intelligenti (Ethereum), catene resistenti alla censura (Bitcoin) e catene private (Monero).
Stay tuned if you want to learn more about crypto- and DeFi-themed news!