UTONIC, the groundbreaking recovery platform built on The Open Network (TON), has announced a strategic partnership with Cobo. Cobo is a leading provider of digital asset custody and wallet infrastructure. This partnership will significantly strengthen security for UTONIC’s liquid staking and readmission services by leveraging Cobo’s state-of-the-art security solutions. Cobo announced this collaboration today via a tweet on social media platform X (formerly known as Twitter).
🔥Happy to collaborate with @UTONIC_uTON!
Through this partnership, #UTONIC will leverage Cobo’s advanced custody and wallet infrastructure to protect liquid assets.
Say goodbye to single points of failure and hello to robust protection! 🔐
🔗… pic.twitter.com/Xv7SmJyDYx
— Cobo (@Cobo_Global) October 11, 2024
UTONIC strengthens security for liquid assets
Through this partnership, UTONIC will integrate Cobo’s advanced custody and portfolio technologies to protect liquid assets. This way you reduce the risk of single points of failure. As the first TON restake solution, UTONIC enables users to maximize the utility of their staked TON by participating in additional applications while earning triple revenues, including native validator rewards, Actively Validated Services (AVS) revenues, and agricultural incentives. This triple yield approach ensures that users’ capital is safe while generating passive income.
UTONIC’s support for a wide range of assets, including $TON, $tsTON, $stTON and $TON from solo staking nodes, further broadens its appeal. By leveraging Cobo’s industry-leading wallet infrastructure, UTONIC users will benefit from greater resiliency and flexibility in managing their assets.
The role of Cobo and UTONIC in securing the TON ecosystem
Cobo brings its extensive expertise in digital asset security to this partnership. Founded in 2017, Cobo protects billions of dollars in assets with an incident-free track record. Cobo’s infrastructure supports more than 3,000 tokens across more than 80 blockchains, including TON, Babylon, Scroll and Merlin.
UTONIC aims to bring its triple takeback solution to a broader audience, aiming for mass adoption by leveraging best practices within the TON ecosystem. Additionally, UTONIC’s liquid withdrawal token, $uTON, provides users with flexible asset acceptance, supports various assets, and potentially unlocks additional benefits such as airdrops.
The partnership between UTONIC and Cobo marks an important step forward in securing liquid staking and reinstatement within the TON network. By combining UTONIC’s innovative approach with Cobo’s unparalleled security infrastructure, the partnership will drive greater adoption and growth within the TON ecosystem.