TechFlow reports, on September 13, according to Cointelegraph, Utonic, a restaking protocol on the TON network, has secured $100 million in institutional total value locked (TVL) commitments ahead of its official launch. The protocol is scheduled to go live by the end of September 2024. Lemon Lin, co-founder of Utonic, stated that even amid bear market conditions, the expected APY will remain above 20%.
Lin explained that the Utonic protocol will offer TON restakers three sources of yield: native validator yields (3.65% APY), Active Validator Service (AVS) yields (5–15% APY), and farming incentives on Layer-2 networks. The protocol allows users to stake TON tokens and redeploy the staked value into other applications, such as securing AVSs, in exchange for additional passive income.
