WEMIX Introduces “Unagi”: a New Omnichain Initiative that Transcends Blockchain Boundaries

[PRESS RELEASE – Seoul, South Korea, September 5th, 2023]

• Aims to create a vast ecosystem to drive common growth of global blockchains
• Complete user-customized omnichain network to easily and conveniently utilize services across multiple blockchains
• All platforms and dApps are connected as one with blockchains bringing complementary strengths to the ecosystem

WEMIX has unveiled unagi, short for Unbound Networking & Accelerating Growth Initiative, which aims to construct an all-encompassing ecosystem that goes beyond the limitations of diverse blockchains by seamlessly integrating, connecting and encompassing multiple networks, fostering an environment where they coexist harmoniously. This need for an omnichain ecosystem that taps the potential for innovative synergy between blockchains is increasingly important amid the growing number and diversity of emerging blockchains.

Overcoming Existing Integration Challenges

Proposed by the WEMIX Foundation, the launch of unagi marks a pivotal turning point with the potential to overcome existing challenges. unagi is designed to accelerate the mass adoption of blockchain by seamlessly integrating diverse blockchains and services, helping to address the multifaceted challenges that arise during chain interactions, and providing a seamless immersion into a wide array of blockchain experiences. With unagi, you can transcend the boundaries between chains and experience integrated transactions and comprehensive asset management.

Core Mechanism

At its core, unagi accomplishes a highly accessible omnichain, spanning on-chain and off-chain domains, through a messaging protocol known as unagi(x). This protocol supports decentralized off-chain messaging in addition to on-chain messaging, surmounting the computational limitations associated with contracts running on specific blockchains.

This is achieved through a decentralized validation method, ensuring swift and secure transactions across heterogeneous chains that are completely reliable, both on-chain and off-chain. unagi enhances various aspects of blockchain activity, aiding in optimal route discovery for dApps, reducing fees, and supporting gas fee delegation services.

Connecting 8 Major Blockchains

Moreover, unagi(x) will initially support EVM networks and expand its compatibility to Non-EVM environments in the future, reducing entry barriers and enabling utilization of existing smart contracts. An initial group of 8 major blockchains are connected by unagi including Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Kroma (WEMIX L2 project), Optimism, Polygon, and WEMIX3.0.

Core Applications

unagi’s core functionalities, supporting the omnichain, are accessible through the una Wallet, which provides a secure and speedy wallet authentication service that allows users to search and manage assets of various chains as if they were stored using a single wallet.

It facilitates access to the services of these chains swiftly and securely through robust authentication mechanisms, and enables efficient management of assets across various chains through one wallet. Notably, unagi’s authentication will not only utilize MPC technology but also introduce Account Abstraction for unprecedented authentication speed and ease of use.

• una Wallet: natively manage assets on multiple chains through one single wallet with easy utilization of complicated concepts such as gas fee, seed phrase, network, etc.
• unagi Swap: A service that provides high liquidity and stability, and low fees using various cross-chain protocols, enabling users to potentially utilize dApp services at the lowest cost.
• unagi Scan: Get easy and direct access to transaction histories of various chains. Transactions that occur both on and between chains can all be recorded and searched through unagi.

In addition to delivering user convenience, unagi will also provide support for partners and dApp builders using a Standard SDK/API that will simplify effective and efficient development of services for builders.

This will create an environment where disparate blockchain services and assets effectively become interwoven as part of a single massive ecosystem and achieve what was once deemed unattainable in cross-chain transactions.

Wemade Showcases Unagi at Korea Blockchain Week

Experience unagi up close and personal at the Wemade booth on-site from 5 – 6 September at The SHILLA Seoul during Korea Blockchain Week 2023. Wemade is returning as the main sponsor for IMPACT, the key event headlining this year’s KBW. You can also watch the introduction to unagi on YouTube or visit unagi’s official website for more information.

About WEMADE

A renowned industry leader in game development with over 20 years of experience, Korea-based WEMADE is leading a once-in-a-generation shift as the gaming industry pivots to blockchain technology. Through its WEMIX subsidiary, WEMADE aims to accelerate the mass adoption of blockchain technology by building an experience-based, platform-driven, and service-oriented mega-ecosystem to offer a wide spectrum of intuitive, convenient, and easy-to-use Web3 services. Visit www.wemix.com/communication for more information.

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