UMIGL (Incentive & Governance Layer) - DAO & Treasury
UncleMine DAO is a decentralized anonymous organization that uses smart contracts to deploy itself on the blockchain and multi-signature addresses to maintain the level of decentralization.
UncleMine DAO's primary duties include voting on which team can participate in IMO, how to use funds in the UncleMine Treasury, and how to improve the UncleMine protocol (contract code, various basic parameters, etc.). Before they may take part in the governance of UncleMine DAO, stakeholders in the UncleMine ecosystem must acquire the governance token gUM. gUM can be acquired by staking UM and has no intrinsic worth.
Additionally, the UncleMine founding group, UncleMine NFT holders, etc., can persuade gUM to take part in governance. The gUM holder will vote to determine whether the proposal was approved. Examples of governance proposals include the cryptocurrency supported by the proposed protocol, the supported LP Token bonding transaction pair, the specific use of UncleMine Treasury, and whether or not the protocol code upgrade will be implemented. If the proposal is approved, the UncleMine team will be in charge of deployment and implementation, or the smart contract on the chain will carry out execution automatically.
UncleMine Community NFT
UncleMine will also introduce 2022 Community NFTs in order to encourage early adopters and boost user participation.
Users can hold and trade digital artwork (or avatars) known as UncleMine Community NFT. A mint or an auction will be used to issue it. (In the restricted UncleMine Community NFT auction, users who own the aforementioned processing power NFT will receive varying degrees of precedence. Please see the economic white paper that follows for more information. Users are free to hold and freely exchange them. In addition to representing a number of rights and interests in the future of the UncleMine ecology, the UncleMine Community NFT stands in contrast to other common digital art NFTs. These rights and interests include, but are not limited to: the right to governance in the UncleMine DAO (stake NFT to obtain governance token gUM), the ability to obtain the UM of the UncleMine Treasury airdrop, and the ability to obtain the fee-sharing from the transaction of computing power assets.
UncleMine Treasury
The public financial reserve pool for the UncleMine project is known as the UncleMine Treasury, and it is cooperatively controlled by all ecological stakeholders through the UncleMine DAO. UncleMine Treasury will keep all of the monies raised from the token sale's public offering in addition to the UM tokens, LP tokens acquired through bonding, and computing power assets seized by the protocol.
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