Unizen Review: A CeDeFi Smart Exchange Ecosystem
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
As the blockchain ecosystem takes new turns, we need viable solutions to address some of the problems already experienced. The crypto community, even so, continues to raise concerns about the risks and vulnerabilities, coupled with high network fees and slippages, experienced in most DeFi exchanges (DEX).
Unizen solves this problem by combining the innovative components of centralized and decentralized finance (CeDeFi) to provide an intuitive UX environment for crypto enthusiasts and developers to interact effortlessly.
Unizen is a smart exchange ecosystem with an all-in-one protocol that tackles regulatory problems, eases crypto trades, and offers lower costs of transactions plus faster speeds.
Nonetheless, decentralized exchanges continue to rise due to the incentivized enabling protocols offered by blockchain networks and Binance Smart Chain to build innovative dApps for the crypto community.
The big questions are how exactly does Unizen stand out from the crowd and what makes it more viable than existing solutions? We’re going to find out in this review.
Features and Offerings
Unizen offers the following outstanding features directly or through blockchain protocols or contracts:
By combining the features of BSC’s CEX and DEX, Unizen amplifies its functionality to crypto traders, investors, and developers to interact securely and without fear of getting on the necks of the authority.
CeDeFi is the latest crypto trend and has given the crypto community a phenomenal advantage to overcome limitations experienced with DeFi applications.
Furthermore, Unizen’s smart exchange hybridization allows traders to trade at low fees and a faster pace, prevailing over the fear of slippages in spreads and taking better deals and orders.
The ZCX Token, Reward Earning, and Multi-Asset Staking in Unizen
The ZCX token is Unizen’s native and governance token. It was made available to the public in 2021 and is currently trading on Uniswap and Bilaxy Exchange. As an ERC-20 token, users can convert it to BEP20 tokens on BSC-powered DEX.
By holding ZCX tokens, investors qualify to participate in Unizen’s staking pool. The multi-asset staking incentive offered by Unizen gives it an edge over other decentralized and centralized exchanges. Hence, investors can earn rewards in multiple assets after locking their coins.
Holders of the ZCX token who partake in staking pools as liquidity providers earn rewards monthly. Over 30,000 USD worth of rewards are shared proportionately among investors using their respective APR. Here is a guide on how to join and earn rewards in the Liquidity pool:
- First, whitelist the ETH address you wish to provide liquidity from through this link.
- Next, visit Uniswap on the interface, connect your web wallet, and head to the “Pool” section.
- Select “ZCX-ETH pair” to enable you to add liquidity on Unizen LP.
- Enter the amount of ZCX token you wish to stake and confirm your transaction on your web wallet. This requires a gas fee, and speed will depend on the option you choose in your wallet.
- After confirmation, approve the transaction by clicking on “Supply.” Earnings begin in a month.
ZCX holders also enjoy privileges from Unizen programs such as the ZenX Lab Incubation program, which includes seed sales and IDOs when this new BSC-based reward program is made public.
AI-Powered Social Sentiment Indicators (SSI)
LunarCrush is a social media analytics tool that uses AI algorithms to track and monitor crypto market events on social media and provide this information to traders and investors.
Unizen partners with LunarCrush to provide first-hand insights by aggregating market fluctuations of assets to enable investors to make well-informed decisions on the best trading deals and practices on assets they wish to take on.
Tournament of Altcoins
The Tournament of Altcoins, stylized as Tournament of Alts, is another unique offering by Unizen which uses metrics from social media crypto communities to vote for high-performing crypto assets or altcoins.
The tournament mimics sports-like processes, whereby altcoins pass through stages and progress until the final round. Unizen leverages LunarCrush’s AI-powered tool to grade scores. The scores include:
- Unizen Smart Score (ZSS). This determines the winner of the final round. It combines the metrics of the Zen Twitter Indicator (ZTI) and the Zen Sentiment Indicator (ZSI).
- ZTI and ZSI are other features that Unizen uses to vet the tournament and aggregate data of respective crypto assets. They provide scores based on market movements and social media analysis of these assets.
Each round of the tournament takes roughly 24-48 hours. After the final round, the winning asset gets a free listing and support on the Unizen CeDeFi exchange.
In a bid to offer high liquidity solutions to traders, Unizen structures its architecture around two modules that combine the protocols of the CEX and DEX ecosystems.
Custom Logic Modules
The custom logic module combines the elements in the CEX and DEX ecosystems respectively to offer a personalized trading environment to traders and developers of all grades. Through Binance Smart Chain, Unizen incorporates CEX protocols, and with DeFi partnerships it integrates cross-chain AI algorithms to provide intuitive user experiences for traders.
Unizen offers developers the full privileges to integrate its tools in their DeFi applications through its API node. It also provides a Software Development Kit (SDK), which developers with basic knowledge of programming can use to design and integrate third-party modules.
There is a guideline on how to use the SDK, making it more interesting and easy to comprehend.
Unizen partners with AlianceBlock, a CeDeFi compliant liquidity provider, to protect traders against defaulting KYC laws. Traders and Investors can personalize their KYC options and trade in Unizen like they do in CEX platforms.
Unizen connects with its user through various means, which includes social media, Github, and Medium. You get tons of information on the nature of the platform through its Medium and blog sections.
There is a customer contact support section where investors enter queries and receive feedback. Its social media platforms are good avenues to connect with other users and get feedback from the Unizen team.
Unizen security compliance is top-notch, and the fact that it runs on Binance Cloud, a highly secure DeFi solution, makes it even more secure. Investors can trade in a very secure DEX platform with CeDeFi protocols in place and Unizen’s multi-level partnerships.
Future Plans, Leadership, and Partnership
Unizen partners with DeFi and CeDeFi industry-leading organizations and solutions to integrate diverse invaluable tools and protocols that support innovative projects for the DeFi ecosystem to keep rolling on well-balanced wheels.
Its leadership comprises a team of well-grounded industry experts who have ample knowledge and enthusiasm in the blockchain and DeFi ecosystem. With so many years of experience and their desire to advance the DeFi ecosystem, they intend to inspire more DeFi developers to build next-generation intuitive dApps.
With the Q2 scheduled to hold soon, more incentivized modules and projects will be integrated and get funding from seeds, IDOs, and liquidities provided by investors.
Unizen key partners include beTRUST, BlockUnify, Jun, of course, LunarCrush, with a host of new partners set to join the project. With this in place, innovative projects will be audited and launched.
Crypto traders and enthusiasts have a lot to benefit from Unizen Smart Exchange, especially in areas of minimal slippage, deep liquidity, and high security. With Unizen’s high-level collaborations, more protocols will be put in place to provide more intractability between investors and the platform.