ULTI: Adopting OFT Standard for Seamless Cross-Chain Functionality

In a groundbreaking move set to revolutionize the Ultiverse ecosystem, we are thrilled to announce that ULTI Token is adopting the Omnichain Fungible Token (OFT) Standard. This strategic decision marks a significant milestone in our journey, enhancing ULTI’s utility and accessibility across multiple blockchains.

What is OFT Standard?

The OFT Standard is an innovative protocol that enables fungible tokens to traverse multiple blockchains effortlessly, eliminating the need for asset wrapping or middlechains. This technology represents a quantum leap in blockchain interoperability, offering unprecedented flexibility and efficiency in token transfers.

Why This Matters for ULTI and Ultiverse？

Since its Token Generation Event (TGE), ULTI has been exclusively issued and circulated on the BNB Chain, a decision that has significantly reduced gas costs for our users during airdrop claims and staking operations. As we enter the next phase of our development, with chain abstraction technology becoming foundational to our platform, ULTI is poised to deepen its role within the Ultiverse ecosystem as a universal token. This transition will foster closer collaboration between ecosystem projects running on different chains, creating a more interconnected and robust network.

Our Vision

By adopting the OFT Standard, ULTI Token will expand its circulation beyond the BNB Chain, establishing cross-chain bridges that allow for seamless token flow across various blockchains. This move aligns perfectly with our mission to create a borderless, integrated digital universe.

Roadmap

We have devised a three-phase plan to implement this transition safely, stably, and systematically:

Phase 1: Ethereum Expansion

• Deploy ULTI Token contract on Ethereum mainnet
• Burn a portion of uncirculated tokens on BNB Chain and mint an equivalent amount on Ethereum
• Maintain a constant total supply of 10 Billion tokens across both chains
• Ethereum and BNB Chain will serve as ULTI Source Chains, supporting future chain integrations
• Migration strategy: Transfer 3 billion (30% of total supply) tokens from BNB Chain to Ethereum mainnet.

Phase 2: LayerZero Integration and L2 Support

• Launch a cross-chain bridge based on LayerZero
• Extend support to select L2 networks

Why LayerZero OFT Standard? With 21 months of proven production experience, securing over $4.5 billion in transfer volume across 45+ chains, LayerZero offers unparalleled security and reliability.

Implementation Mechanics: Typically, the OFT standard works by burning tokens on the source chain whenever an omnichain transfer is initiated, sending a message via the protocol and delivering a function call to the destination contract to mint the same number of tokens burned, creating a unified supply across all networks LayerZero supports.

For existing tokens like ULTI, the OFT Adapter allows seamless expansion to any supported chain as a native token with a unified global supply. This innovative approach maintains the 10 Billion total supply on Source Chains, locking transferred tokens in the cross-chain bridge contract and minting equivalent amounts on destination chains.

The Source Chain consistently maintains a total supply of 10 Billion tokens. When tokens are transferred from the Source Chain to other chains, the corresponding amount of tokens on the Source Chain is locked in the cross-chain bridge contract, effectively removing them from circulation. Simultaneously, an equivalent amount of tokens is minted on the destination chain, entering into circulation there.

Consequently, when calculating the total supply of ULTI tokens, it’s important to note that the actual circulating supply is the sum of tokens across all chains minus the number of tokens locked in the OFT Adapter contract. This mechanism ensures that the overall token supply remains constant while enabling seamless cross-chain functionality.

Phase 3: Ecosystem Expansion and ULTI Utility Enhancement

As our ecosystem evolves, we’ll swiftly deploy ULTI to additional chains, unlocking diverse, novel, and infinite capabilities for our users across different networks.

With our enhanced cross-chain functionality, we will accelerate the onboarding of new games into the Ultiverse ecosystem. This improved infrastructure will allow us to attract and integrate a wider variety of games, offering developers access to a multi-chain user base through a single, streamlined integration process. By lowering the barriers to entry for game developers, we aim to significantly enrich the gaming experiences available within our ecosystem.

We will actively forge strategic alliances with other blockchain projects, game studios, and content creators. These partnerships will not only bring new and exciting content to our platform but also create innovative cross-chain loyalty programs and rewards systems using ULTI as the backbone.

Conclusion

The adoption of the OFT Standard marks a new era for ULTI Token and the Ultiverse ecosystem. This move not only enhances our technical capabilities but also reinforces our commitment to innovation and user-centric development.

Stay tuned for more updates as we progress through each phase of this transformative process. The future of ULTI is boundless, and together, we’re building a more connected, efficient, and powerful digital universe.