Blockchain Ticketing Pioneer UTIX Lists UTX Token on Uniswap (UNI)

This listing will add another opportunity to purchase UTX token via on-chain wallets like MetaMask. As of today, the token of UTIX platform is already available on some centralized platforms. 

UTIX blockchain ticketing platform's token UTX debuts on Uniswap (UNI)

According to the official announcement shared by the team of UTIX, its core native cryptocurrency UTX made it to Uniswap (UNI), a dominant decentralized cryptocurrency exchange on Ethereum (ETH), and a couple of EVM-compatible blockchains.

The token will be added to the UTX-ETH dual-asset liquidity pool. As such, users will be able to both purchase UTX with their Ethers (ETH) and provide liquidity to obtain periodic rewards.

As an Ethereum-based ERC-20 cryptocurrency, UTX can be traded with no centralized custody on Uniswap and through liquidity aggregators such as 1inch (1INCH) and DefiLlama Swap.

Uniswap (UNI) becomes the first decentralized exchange that added UTX to its range of assets supported. Prior to the Uniswap (UNI) listing, UTX token support was announced by BitMart, a top-tier centralized cryptocurrency exchange.

On Oct. 31, 2023, UTX was listed on BitMart in a pair with U.S. Dollar Tether (USDT), the largest stablecoin by market capitalization.

As such, enthusiasts of UTX will be able to get it via both centralized and decentralized services and choose the most beneficial way of adding it to portfolio.

Pivotal element of digital ticketing ecosystem: What is UTX?

UTX is the backbone element of the e-ticketing platform that UTIX developed. It aims to solve many of the long-standing problems with event ticketing.

The events industry is struggling with price gouging that rewards middlemen while pricing fans out of seeing the artists they are interested in. UTIX is creating a one-stop digital ticketing ecosystem in which buyers and sellers can exchange tickets through a transparent P2P marketplace.

The UTX token is of paramount importance for incentivizing the adoption of the UTIX platform and rewarding actors for fair behavior. Users who purchase tickets on UTIX are rewarded with UTX, which can also be used to earn discounts on future purchases.

From the perspective of event organizers, UTIX allows control over the secondary market, preventing scalpers from reselling tickets for a premium. The use of blockchain also prevents fakes by providing an immutable ledger that tracks legitimate tickets.