Utopia is an on-chain banking protocol based on multi-chain and multi-collateral, and it permits multi-token and multi-LP token holders to generate uStablecoins (e.g., uUSD, uEUR, and uAUD) at zero fee and lower collateralization ratio, and these uStablecoins are pegged to a variety of legal currencies. Not only is UC the governance token of the protocol, but functions as transaction fee token for the protocol. And all underlying assets for collateral are selected by DAO Governance. If the user deposits the collateral assets into given vault, uStablecoins will be made for liquidity, and all uStablecoins holders are entitled to deregister their uStablecoins, in exchange for collateral assets of the identical par value. It is worth saying that the protocol ensures the system robustness via 4 layers liquidation mechanism.