U2U Network’s December Listing: Pioneering a Comprehensive Blockchain for DePIN

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As a seasoned observer of the blockchain and cryptocurrency landscape, I find myself consistently drawn to projects that aim to address pressing industry challenges while fostering widespread adoption. U2U Network is one such project that has caught my attention, not only due to its innovative approach but also because of its impressive backing and partnerships.

Ho Chi Minh, Vietnam, December 10th, 2024, Chainwire

U2U Network, a top-tier Delegated Proof of Importance (DePIN) Layer-1 network, has revealed that it’s wrapping up all investment phases as it gears up for its anticipated public listing, slated for the last quarter of 2024.

The Foundation 

The worldwide market for blockchain technology is on an upward trajectory, projected to be worth $20.22 billion in 2023, but expected to surge to a staggering $561.38 billion by the year 2030, at an annual growth rate of approximately 64.5%. Originally designed for digital currencies like Bitcoin, blockchain has undergone significant transformation and is now a game-changing technology. It’s reshaping sectors such as finance, healthcare, and supply chain management by introducing heightened transparency, security, and productivity.

Based on this strong base, DePIN is innovating the way infrastructure systems function by merging blockchain technology with tangible assets. By the year 2023, DePIN had amassed 650 projects and a market value of $35 billion, and industry experts anticipate its market worth to surge to an astounding $3.5 trillion by 2028, highlighting its immense transformative power.

In the fast-growing world of blockchain and Decentralized Payment Infrastructure (DePIN) markets, U2U Network is planning to debut its listing. This strategic decision aims to boost both market expansion and advancement even more.

U2U Network – A Leading DePIN Layer1, Closed All Funding Rounds With $13.8M, Getting Ready for Listing 

At a crucial stage in its growth, U2U Network is working towards improving user interactions within the decentralized community. By offering an all-encompassing application, U2U Network functions as a central platform, allowing users to effortlessly engage with diverse DePIN initiatives. This strategy streamlines the process, eliminating the necessity for numerous app installations and reducing complexity. Furthermore, it offers a space where projects can integrate their mini-apps, boosting visibility and fostering collaboration within a harmonious ecosystem.

More recently, U2U Network has successfully raised $13.8 million from well-known venture capitalists such as KuCoin Ventures, Chain Capital, IDG Blockchain, Cointelegraph, V3V, JDI Ventures, Tesseract, IBG, Blockhive, Maxx Capital, and UB Ventures. This fresh capital will be utilized to further develop its Layer-1 blockchain, equipped with DAG technology and EVM compatibility, aiming to tackle critical issues related to scalability and interoperability. Additionally, U2U’s groundbreaking subnet technology empowers the creation of adaptable sub-networks suitable for DePIN development, offering scalability and flexibility.

With the increasing expansion of the Decentralized PIN (DePIN) sector, mirroring larger movements such as integrating blockchain technology into everyday services, U2U Network is committed to progressing scalable hardware solutions suitable for real-world applications. This strategy aims to simplify adoption across various industries, promoting the maturity of the DePIN ecosystem and encouraging innovation within decentralized infrastructure.

Looking Ahead: Preparing for the Listing Season

U2U Network’s forthcoming listing marks a substantial advancement in their journey. This move is expected to increase exposure, attract more investors, and facilitate growth of the community, all contributing towards the network’s mission to offer functional, decentralized infrastructure solutions.

Exclusive Listing Details

Expected Date: 10 AM (UTC), December 10, 2024

Listing Platforms: Kucoin, Gate.io, BingX and MEXC. More listing partners will be announced soon

For participants in IDO on Fjord: Participants will get User-to-User (U2U) tokens based on the Ethereum network, which they can deposit for trading on various exchanges. It’s recommended to verify whether the chosen exchange supports depositing U2U ERC-20 Tokens. These tokens can be traded on both centralized and decentralized exchanges (CEXs and DEXs).

Users will receive U2U tokens on the ERC-20 network and can deposit them for trading on KuCoin. 

Gate.io, MEXC, and BingX only support U2U native token

Token Utility

Transaction Fees: Used to pay gas fees for transactions and smart contract interactions.

Staking & Security: Locked by validators or delegators to secure the network and earn rewards.

Governance: Enables holders to vote on protocol upgrades, network changes, or DAO decisions.

Encouragement and Compensation: Compensate users for actions such as contributing liquidity, participating in governance decisions, or fostering network growth.

DeFi Collateral: Serves as collateral for loans, liquidity pools, and other financial products.

Functionality of DApps (Decentralized Applications): Enables services, advanced options, or specialized purposes across various decentralized applications.

In simpler terms, Subnet Operators perform duties within the Subnet, earning tokens by engaging in transactions or communications between the Subnet and the main network (Layer 1), for which they are compensated by Verification Nodes.

Coins serve multiple purposes such as acting as a medium of exchange for transactions, acquiring resources from Subnet Node Operators, and purchasing services within Subnet’s decentralized applications (dApps).

Token Allocation:

Token distribution:

Ethereum: 1,000,000,000 U2U

U2U Mainnet: 9,000,000,000 U2U

U2U Network’s impending listing in December signifies a substantial advancement in its journey within the DePIN ecosystem. By providing a harmonious platform and utilizing cutting-edge technology, U2U Network seeks to tackle critical industry issues, foster adoption, and play a role in shaping the development of decentralized infrastructure.

REF:

  • Research, H. (2024) DePIN: Current State and prospects, Medium. Available at: https://htxresearch.medium.com/depin-current-state-and-prospects-ad6b1a59b3d4#:~:text=As%20of%202023,according%20to%20Messari (Accessed: 07 December 2024). 

About U2U Network:

U2U Network is a scalable Layer 1 solution equipped with subnet technology, ideally suited for DePIN. It’s backed by influential investors such as Chain Capital, IDG Capital, Cointelegraph, JDI Ventures, Kucoin Venture, V3V Fund, Web3Port, among others. Additionally, the project has formed alliances with tech giants like AWS, Klaytn Foundation, IoTex, Waterdrip Capital, Chain Catcher, and more. Notable Key Opinion Leaders (KOLs) who have invested in U2U Network are KongBTC, Romano, ImNotTheWolf, Crypto Buzz, Antony, and others.

Mainnet is ready with more than 180K wallet addresses. DePIN Subnet launched with U2DPN product with more than 155K downloads, 59K contributer nodes, and 9K DAU in 3 months of launching. 80 dApps committed to building on chain (EVM-compatible) range from crypto applications (Defi, Gamefi, SocialFi, etc) to real-world scenarios (Storage, data mining, etc), and over 40 DePIN project signed MOU and under integration, 25 other projects in the pipeline.

Contact

CBO
Astrid Dang
U2U Network
alice@uniultra.xyz

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2024-12-11 15:01