UTU and LGCY Network Partner to Integrate UTU Products on LGCY
We will work together to deploy the UTU Trust and Creditworthiness APIs on the LGCY Network protocol and explore DEX integration.
Hello UTU Trust Guardians!
We are excited to announce that we’ve partnered with LGCY Network to launch UTU products on their blockchain in addition to exploring DEX integration and governance!
Who is LGCY Network?
LGCY (Legacy) Network is a Layer 1, proof-of-stake, decentralized and open-source blockchain protocol. With industry-leading transaction speed and flexible utility, the network is capable of handling over 10,000 transactions per second at minimal cost.
LGCY aims to be the most decentralized dApp blockchain in the world. Through DPoS, it is implementing the Libertas Protocol to the Governing Bodies (GBs) system of governance. By splitting up the 27 GBs into three branches, limiting the power of each, and introducing terms to the governance system, no single large token holder will be able to gain an unbalanced amount of power.
How will we work together?
First, UTU and LGCY will collaborate to launch the UTU Trust and Creditworthiness APIs on the LGCY Network protocol, enabling developers launching their dApps on the network to integrate directly and reap the benefits of the two APIs.
Marketplace dApps connected to the UTU Trust API will be able to increase trust from comprehensive trust signals and improved rating and review functionality. The Trust API is able to ingest data from various sources, including users’ reviews, to create accurate trust signals across the network. Users will also benefit from interacting in a more trustworthy environment where trust signals weed out bad actors and smart social recommendations are displayed depending on context and relationships.
The UTU Creditworthiness API increases the accuracy of creditworthiness assessments for lending dApps by creating signals from both on- and off-chain data, including social graphs for contextual relevance. This data trains models of high accuracy, allowing lenders to more accurately determine users’ creditworthiness, giving borrowers the chance to access undercollateralized loans.
We will also explore integration with the soon-to-be-launched LGCY decentralized exchange (DEX), MyriaDex. This will be the main hub for all tokens traded on the LGCY blockchain. The UTU Trust API can build trust signals for tokens traded on MyriaDex to help traders identify potential scam tokens and create a more trustworthy trading environment. Additionally, the API may be able to deliver recommendations for trending and trustworthy tokens to trade.
As part of all these collaborations, we will also launch UTU Coin on the LGCY blockchain in the future.
In the long term, we will explore managing governance via trust and reputation signals for LGCY DAO members. where they can be rewarded for activity across various platforms.
“ The LGCY Network team is looking forward to working with UTU in a variety of different ways! The UTU Trust, Creditworthiness APIs, and future launch of the UTU coin on our blockchain will be exciting events for our ecosystem. Our team eagerly awaits what’s to come with this partnership!”
- Wes Wade, Co-Founder or LGCY Network
“We’re super excited to partner with LGCY Network to take advantage of the speed and flexibility of their blockchain protocol. We can’t wait to launch the UTU Trust and Creditworthiness APIs and UTU Coin on their network to further the shared mission of enabling dApps to launch and flourish in the decentralized world.” — Jason Eisen, Co-Founder and CEO of UTU
About LGCY Network
LGCY Network was founded in August 2020, with the intent of delivering the promise of a truly decentralized blockchain.
At the beginning of the venture, centralization is required to get off the ground. As the network grows, however, the community will begin to take over the leadership of LGCY network. It is not our intention to remain in voting control forever. We, in fact, have set a series of milestones in our roadmap in which we will slowly hand over the reins of government to the community. At that point. LGCY Network will be the most decentralized blockchain in existence, allowing the community which runs on the network to be in control.
Learn more about LGCY Network by visiting their website, Telegram, Twitter, Medium or YouTube.
UTU is building the trust infrastructure of the internet to help businesses and consumers engage and transact in an easier, safer, and more trustworthy way.
Our AI-based API products collect and analyze data to create trust signals and personalized recommendations that help consumers and businesses make the best decisions for their situation. And the UTU blockchain protocol rewards users for trustworthy actions and compensates them for sharing their data while protecting their privacy.
UTU changes the economics of trust, ensures trust can’t be bought or manipulated, and leverages data to help people make better decisions.
We are proudly based in Nairobi, Kenya.
Learn more about us on our website, Twitter, Telegram, LinkedIn, Reddit, YouTube, Facebook and Instagram.
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Originally published at https://utu.io on December 17, 2021.