UniLayer is a Decentralised Finance (DeFi) solution, a set of smart contracts, sitting on top of the Ethereum Blockchain (as infrastructure) and operating on UniSwap (as code logic) by providing users with an extensive toolset for automating their trading and liquidity operations on UniSwap.
TrustSwap is the next evolution of DeFi transactions solving issues with cryptocurrency subscriptions, split payments, and cross-chain token swaps. A cross-chain “smart swap” system is used to wrap any token or coin (Bitcoin, Litecoin, Monero, Ripple, Cardano) into an ERC20. A trustless decentralized escrow service at the core of Trustswap provides an easy way to split payments into timed batches.1
TrustSwap is collaborating with UniLayer to support projects who wish to launch on the UniLayer’s Launchpad to kick start their project.
The old way of doing token sales
Historically, token sales have been done in a few major ways, each having their pros and cons.
Direct payment. In this approach, participants transfer their funds (in ETH, BTC or another cryptocurrency) to an address owned by the development team. Subsequently, the development team mints the project token and sends it back to participants. This approach requires significan ttrust on behalf of the participants that the project team will both act in good faith and that no technical errors would occur.
Smart contracts. A more robust approach where the participants deposit ETH (or another token compatible with the blockchain) to the token’s smart contract address. The smart contract would in return mint the respective amount of tokens and send them to the participant. While this approach offers significant advantages over the one above, it still does not account for exit scams and the team acting in bad faith (which has not been that uncommon).
Initial Coin Offerings (ICO). An ICO is usually some combination of the above two approaches. Historically though they have been plagued with a lot of exit scams and projects which failed to deliver on their promises.
Buying through UniSwap. This is an alternative to the approach above with the additional bonus of having liquidity backing the token produced. Issues here have been bots trading against the participantsand information asymmetry which is not reflected in the UniSwap price.
Initial Exchange Offerings (IEO). In this scenario a reputable exchange would first vet the token and then it would list it for sale on the exchange. While this adds an additional level of verification, this centralised the process and historically exchanges have asked for large token allocations for themselves, which dilute the participants.
https://boxmining.com/trustswap-explained/ 1
UniLayer Launchpad Overview
UniLayer is integrating with TrustSwap to bring a new, mixed solution of all methods above offering OTC locked Liquidity on Mint. The UniLayer launchpad focuses on providing participants with an additional level of security for their funds and a level of control over the project development.
Furthermore, UniLayer Launchpad aims to become the de-facto solution for decentralized token offerings, exposing new projects to a large pool of potential users.
The launchpad provides an alternative to the traditional ICO/STO/IEO fundraising, by adding an 2 additional smart contract layer, on top of any ERC20 token which wishes to have a token sale. The functions of this smart contract are:
● Team tokens are locked with a vesting period as insurance against exist scams
● ETH deposited to the token sale smart contract will automatically mint the ERC20 tokens and get sent to the sender address.
● Released ETH will be divided between a UniSwap liquidity pool for the project token, the team and UniLayer fees, all of this is done by a smart contract, without the need to trust a third party. The project team will not be able to unlock all of the funds, since between 20% and 30% of the liquidity will be automatically locked (depending on estimated project risk) of them will be dedicated to liquidity in UniSwap, further reducing the risk for investors.
● Participants can vote to dissolve the project (with votes proportional to their pledged amount) and get a portion of the funds back if the majority decides that the team is not accomplishing their goals.
● LAYER and SWAP token holders that are either staking or holding both of these tokens in the Launchpad platform will get first priority on all Launchpad sales.
● There is a 5% fee for using this Launchpad platform. 5% of the ETH raised will be used to buy LAYER and SWAP tokens, 2.5% LAYER and 2.5% SWAP this fee will get automatically deducted by the smart contract and sent to an external address.
UniLayer and TrustSwap are looking to have a great synergistic relationship, as both platforms cater to different user segments and can grow together. UniLayer fills a market niche in which we see the next big surge of project funding by providing a truly decentralised platform where adopters can allocate their capital with significantly reduced levels of risk compared to traditional token sale models.
