WEMIX Introduces“unagi” Initiative, Aiming to Transcend Blockchain Boundaries

Summary:
• Through unagi, Wemix has broken cross-chain barriers, opening up a broader ecosystem with high efficiency, low fees and easy usage.

WEMIX, a leading blockchain-based ecosystem developer, has introduced Unbound Networking & Accelerating Growth Initiative (Unagi), which aims to build an inclusive ecosystem that transcends the restrictions of individual blockchains. Unagi improves many elements of blockchain functionality, including fee reduction, improved fee discovery for dApps, and the addition of gas fee delegation services.

By creating an experience-based, platform-driven, and service-oriented mega-ecosystem, WEMADE’s WEMIX division aspires to speed up the widespread adoption of blockchain technology by providing a wide range of user-friendly Web3 services.

Unagi is designed to help improve the widespread adoption of blockchain technology by facilitating the seamless fusion of various blockchains and services, resolving the complex issues that arise during chain interactions, and allowing users to immerse themselves in a wide range of blockchain use cases. The architecture of Unagi allows for cross-chain transactions and promotes a holistic approach to asset management.

Unagi’s core functionalities

The una Wallet is the primary interface to unagi’s omnichain-supporting core features. The wallet offers a fast and secure wallet authentication service that lets users search and manage assets from different chains as if they were stored in a single wallet.

Una allows for the streamlined management of assets across several chains using a single wallet, and it accelerates and secures access to the services of these chains with strong authentication mechanisms.

 Below is a description of the key features:

• una Wallet: This is a native wallet that enables users to easily utilise advanced concepts like gas fee, seed phrase, network, etc., for the native management of assets across several chains using a single wallet.
• unagi Swap: This is a service that, through the use of multiple cross-chain protocols, offers great liquidity, stability, and cheap costs, potentially allowing users to make use of dApp services at rock-bottom prices.
• unagi Scan: This feature enables quick and simple access to the transaction records of several different chains. Unagi can record and index all transactions, both on-chain and between different chains.

At its core, unagi achieves an easily accessible omnichain that crosses both on-chain and off-chain domains by use of a message protocol called unagi(x). To overcome computational barriers related to contracts executing on individual blockchains, this protocol also enables decentralised off-chain communications in addition to on-chain messaging. Notably, unagi will implement Account Abstraction in addition to MPC technology for incredibly fast and simple authentication.

Also, unagi(x) will first support EVM networks and later expand its compatibility to Non-EVM environments, making it easier to use existing smart contracts and lowering the barrier to entry. Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Kroma (WEMIX L2 project), Optimism, Polygon, and WEMIX3.0 are the first eight major blockchains to be integrated via unagi. As Wemade returns as the major sponsor for IMPACT, the key event topping this year’s Korea Blockchain Week 2023, unagi will be on exhibit at The SHILLA Seoul on September 5th and 6th.