Unigraph is a platform that addresses some of the key issues with Bitcoin-based token standards such as BRC20. While these protocols have grown to billions of dollars in TVL, they are often guarded by centralized and closed source indexers, which are typically maintained by single entities. This creates a centralized point of failure and a potential attack vector for the growing DeFi ecosystem on Bitcoin. Unigraph aims to solve this problem by providing a decentralized and open-source alternative that can empower the DeFi ecosystem on Bitcoin and ensure its security and longevity.
Unigraph is taking a unique approach to address these issues by creating the first open-sourced, decentralized indexer for Bitcoin token standards. The Unigraph indexer will be managed by a network of node operators, where anyone can participate based on staking GRPH tokens. This decentralized approach secures and decentralizes token standards on the Bitcoin network, enabling new DeFi primitives to be created in a non-custodial way. This paves the way for trustless DEXes, lending markets, stablecoin protocols, and more.
The GRPH token is a utility token that powers the Unigraph ecosystem. Node operators work together to provide data access to users and receive GRPH rewards. The GRPH token is used to incentivize participants in the Unigraph protocol. Users of the Unigraph protocol will pay to access data using GRPH tokens. The aim is for Unigraph to become the de-facto standard for data availability on the Bitcoin network.
Unigraph and the GRPH token will play a crucial role in decentralizing Bitcoin-based token data and making the ecosystem more accessible and functional for developers and end-users. This will enable the development of innovative DeFi applications and enable more people to participate in the growing DeFi ecosystem.
Consider investing in Unigraph Protocol (GRPH)? It only takes 2 minutes to create an account on Bitget and start trading GRPH.
Check out the available GRPH trading pairs on Bitget!
Spot market
Buy Unigraph Protocol in Antigua & Barbuda with Bitget