UXUY Founder Kevin: Stepping down from Uniswap to create a public chain, exploring new opportunities for custom public chains on Telegram

On the evening of October 10, the world's largest decentralized cryptocurrency exchange Uniswap officially announced the launch of its Ethereum-based Layer 2 network --- UniChain. Although it is currently only live on the testnet, it has garnered widespread attention from the market, with the price of $UNI reacting sharply, rising rapidly in the short term, and achieving a 24-hour increase of 15%.

Questions like "Can UNI be empowered?" quickly flooded the media, while my focus is on the release of UniChain, which will break the existing public chain pattern and redefine the competitive relationship between DApps and public chains. It is foreseeable that public chains are no longer limited to transfers and transactions; the landing of various application scenarios will become a new development direction. In other words: the new cycle of the crypto ecosystem with myriad chains has arrived.

The Crypto Ecosystem Moves Towards a Myriad of Chains

Mainstream trading platforms and project parties are launching their own public chains to serve their respective application scenarios. For example, Coinbase launched the Base public chain, Binance launched BNB Chain, Op BNB, and Greenfield, while OKX recently launched X Layer. In the field of social fragmentation, the blockchain-based decentralized social network Farcaster is built on Base, and its star channel Degen not only issued the digital currency $DEGEN but also launched the Layer 3 solution Degen based on Base.

Public chains are trending towards diversification and specialization, and the integration of public chains with specific application scenarios is becoming increasingly close. Will ChainSummer arrive?

I believe that countless new public chains and new application scenarios will emerge in the future.

Uniswap founder Hayden Adams stated in an interview:

Just as Uniswap is the liquidity center on the Ethereum network, UniChain can become the DeFi center for many chains.

Degen is the best embodiment of the combination of social scenarios and public chains, where users publish high-quality content on the platform to earn rewards, thereby enhancing the platform's usability and attracting more new users, forming a growth flywheel. Degen founder Jacek Trociński stated: "The creation of the Degen public chain aims to provide developers with a vibrant playground and offer users a portal to safely experiment with funds. It can be imagined as the Las Vegas of blockchain—rather than gambling, it is more about exploration and entertainment."

Crypto developers are introducing various types of community management and more novel participation models through the Degen chain, including consumption, gaming payments, and more.

Rich Crypto Application Scenarios on Telegram

Currently, Telegram, with its 900 million users, is becoming a new battleground in the crypto world, with a large number of crypto DApps being created on Telegram. With a massive influx of new users, Telegram has also gained favor from major exchanges and project parties.

Diverse application scenarios such as on-chain games (GameFi), real-world assets (RWA), and decentralized finance (DeFi) are flourishing, leading to a rapid increase in demand for personalized public chains.

The decentralized multi-chain wallet based on the Telegram ecosystem UXUY** has officially opened its customizable mainnet, allowing users to easily create and manage over a hundred EVM-compatible mainnets and testnets through the UXUY Telegram wallet**, which includes emerging networks such as DuckChain, the Layer 2 network of Ton, enabling users to easily participate in airdrops and DApp interactions without complex operations.

In addition, UXUY Connect will also support customizable mainnet features, allowing developers to build diverse dApps more flexibly. The support for custom networks and testnets further enhances the development experience, allowing for comprehensive testing and seamless deployment in different environments, meeting the needs of a richer crypto application scenario.

UXUY will actively support the integration of emerging public chains and new infrastructure, welcoming the arrival of a new cycle with myriad chains.

About UXUY

UXUY is the next-generation decentralized multi-chain infrastructure incubated and invested by Binance Labs, and has released APP and Bot products on iOS, Android, and the Telegram ecosystem.

UXUY Wallet (@UXUYbot) is the first self-custodial multi-chain wallet on Telegram, supporting multiple blockchains, including Bitcoin Lightning Network, BNB Chain, Base, TON, Arbitrum, TRON, and more. UXUY has created the first decentralized multi-chain wallet and DApp application center based on Telegram, with over 1.5 million users. The goal of UXUY Wallet is to bring 900 million users into the multi-chain crypto ecosystem.