UTONIC, TON’s First Restaking Protocol, Reaches $100 Million in TVL

UTONIC, a pioneering multi-instrument solution for TON restaking, shared the details of its first major TVL milestone. UTONIC introduces previously unseen designs for the TON ecosystem and unlocks more powerful yield opportunities.

TON’s first restaking solution, UTONIC, hits $100 million in TVL

UTONIC, TON’s flagship restaking solution, has secured commitments of $100 million in TVL from notable investors, validators and institutions. The protocol empowers users to repurpose their staked TON, extending the blockchain’s security to additional applications.

UTONIC will provide several methods to participate in TON restaking:

?Native Restaking:
Depositing TON into UTONIC smart contracts, those TON will be used in participating TON staking. Operators can take the staked TON and restake these assets on UTONIC.

?LST Restaking:… pic.twitter.com/aCWuqYo7Xm

— UTONIC (@UTONIC_uTON) September 12, 2024

Technically, the UTONIC protocol functions as a marketplace where developers can incentivize operators to allocate their restaked TON for procuring services. This represents a significant improvement over the traditional approach, where applications often need to issue highly inflationary tokens as rewards for validators and build a new network of trust from the ground up.

With UTONIC, developers leverage the security provided by restaked TON assets, drastically reducing the requirements for investing both capital and time when compared to establishing a new system from scratch.

Inspired by LST pioneers EigenLayer, UTONIC combines innovation with TON’s unique use cases, empowering TON’s validators as well as individual token holders, to enhance the security and scalability of local dApps.

The restaking approach leverages the network’s existing validators, creating a more robust, flexible and economic ally efficient infrastructure without the need for new resources.

Growing ecosystem and product through partnerships

Notable protocols from the world of restaking along with notable players in the TON ecosystem, including TonStake, iZUMi Finance, InfStones, Satlayer and Stakestone, have established partnerships with UTONIC Protocol to provide advisory and technical support.

While generating yields in native restaking, stakers are afforded the option to restake by depositing their TON into UTONIC smart contracts. These tokens will be used to participate in TON staking. Operators will utilize the staked TON to restake the assets on UTONIC.

With LST restaking, stakers also have the alternative option of restaking by simply depositing their Liquid Staking Tokens (LSTs) into UTONIC smart contracts. Operators will utilize the LSTs that have already been staked in protocols and restake those assets on UTONIC.

Source