Introduction to Universal

Universal is a wrapped asset protocol designed to enable trading for any token, on any chain. Think Circle for cryptoassets.

Universal Developer Documentation

Introduction

Why Universal?

Universal is a wrapped asset protocol designed to enable trading for any token, on any chain.

The Universal Thesis

1. Limited Onchain Availability: Many assets are not available onchain.

2. Liquidity Fragmentation: Liquidity is split across multiple L1s and L2s, making it inefficient.

3. User Experience Complexity: Users shouldn’t have to worry about bridges, liquidity depth, or fragmented execution.

By solving these issues, Universal makes all assets accessible across all supported chains.

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What Problems Does Universal Solve?

1. The Cold Start Problem for Chains

New L1s and L2s launch without assets or liquidity on day one. Users bridge to the new chain but find nothing to trade.

With Universal, the most popular assets in crypto are available on day one, allowing users to trade immediately and experience the full benefits of the new chain.

2. The Cold Start Problem for Token Issuers

Token issuers face constant demands from their community to provide liquidity on new chains. However, maintaining liquidity across multiple L1s and L2s is:

• Expensive – It requires significant capital to sustain liquidity pools.

• Inefficient – Pulling liquidity from one venue to another often weakens execution quality.

• Fragmenting – Thin liquidity results in poor user experience.

With Universal, users can purchase tokens on any chain they want, without issuers needing to maintain liquidity pools across multiple networks.

3. The Liquidity and UX Problem for Users

Users simply want seamless access to assets without thinking about:

• Liquidity depth

• Cross-chain bridging

• Setting up new wallets

• Managing gas fees on multiple networks

Most high-volume crypto assets (like DOGE, XRP) are not even available on-chain for spot trading.

Universal ensures a superior UX where users can access, trade, and move assets without friction.

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Our Solution: The Universal Protocol

Universal is a wrapped asset protocol utilizing the same architecture as wBTC, USDT, and USDC. However, it introduces key improvements:

1. Secure and Verifiable Custody for Underlying Assets

• All assets are verifiably held by a qualified custodian.

• This ensures 1:1 backing for all wrapped uAssets.

2. Instant Minting and Redeeming of uAssets

• uAssets can be minted and redeemed instantly on any chain once collateral is verified.

• Merchants, who are permissioned actors, facilitate minting and redemption.

3. Bringing Off-Chain Assets Onchain

• Universal enables non-EVM assets (like DOGE, XRP) to be wrapped and traded on any supported chain.

• This expands the DeFi ecosystem by making previously unavailable assets accessible in onchain markets.