Best Liquidity Locker in 2022

Liquidity Locker in 2022

Best Liquidity Locker in 2022

Each month, over 100,000 new tokens are issued across the various blockchain networks. The DeFi market has become a boon to various fraud schemes, including so-called “rug pulls,” where unscrupulous developers on popular decentralized exchanges create liquidity pools with one high-priced token, advertise aggressively to attract users, then pull out all the valuable coins, thereby devaluing the liquidity pool. Millions of dollars have been stolen from investors using this scheme. In order to prevent this outcome, liquidity lockers were introduced.

Liquidity lockers can lock project liquidity in the locker’s smart contract for a time period set by the developer, guaranteeing that the funds will not be withdrawn until that period ends. The developers essentially give up their right to withdraw funds from the liquidity pool. Locking in liquidity provides a benefit to both investors and developers, helping them establish trust in the project. As of now, there are several platforms providing similar services. We will discuss the best liquidity lockers out there right now.

Unicrypt

Unicrypt Network is a multi-chain platform that, among other things, provides token and liquidity locking services. It was launched in 2020. This is an older locker with several useful features, such as incremental locks and transfer of ownership. Unicrypt locks are currently being used in over 3,000 projects. Unicrypt supports numerous DEXs and networks, including Ethereum, Binance Smart Chain, Avalanche, Polygon, and Gnosis. The locker’s advantages include name recognition and time-tested good reputation.

The main disadvantages of the Unicrypt locker are a non-user-friendly interface and high service fees. It has, however, shown itself to be a reliable liquidity locker.

Mudra

Mudra Liquidity Locker is a relatively new tool that’s growing fast. It is worth a look if you’re developing on the Binance Smart Chain, since this locker supports only this one network, unlike Unicrypt. However, Mudra has a convenient, developer-friendly interface and very low service fees. You can add additional tokens to an existing lock, transfer ownership, or extend a lock at no additional charge. Mudra has its own ecosystem, which includes several developer tools, such as a token generator. The key pros of this service are its low fees and convenient interface.

The main con of the Mudra locker is the lack of support for any chains besides BSC, or any DEXs except Pancakeswap, the most popular DEX for BSC. Within this narrow niche, however, it is one of the best offerings on the market.

CryptEx Locker

CryptEx was founded in 2021. It offers a collection of security tools with their own ecosystem, including a smart contract constructor.

The service conducts AMA sessions with large projects on its social media. Like Mudra, CryptEx has relatively low fees, allows adding tokens to an existing lock, transferring ownership, or extending the lock period. Besides, it supports many DEXs and networks, including Ethereum, Binance Smart Chain, Avalanche, Polygon, Gnosis, Fantom, Aurora, Cronos, and Moonriver, making it the most flexible liquidity locker. CryptEx offers the ability to add support for any DEX you want on-demand. Users also highlight the more convenient and intuitive interface, compared to Unicrypt.

Key advantages of this service include 24/7 lock support (if you need any help with a liquidity lock, a human will take you through the process from start to finish, if needed), support for numerous networks and DEXs, and low fees. CryptEx is a product of HashEx, a tier-1 smart contract auditor that is constantly in the news.

The main drawback of this locker is the price, which is slightly higher than Mudra.

Closing Remarks

We have taken a look at the 3 best liquidity lockers currently available. Hundreds of new projects are being created every day that need liquidity locker services to secure investors’ trust. We have to concede that Unicrypt, despite being among the best, no longer has a monopoly and may even be outdated. If your project is being developed on Pancakeswap and the BSC, Mudra Liquidity Locker will be a good choice, like a CryptEx Locker, but If your project is on any other network or needs support for other DEXs, the latter is definitely the service for you.

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