UncleMine Tokenomics
What is UncleMine?
UncleMine is the first fundraising, DeFi & DAO platform backed by verifiable mining assets. UncleMine introduces physical and virtual mining assets into the on-chain ecosystem by zero-knowledge-based VMA Oracle, enabling the infrastructure resources to circulate in the Defi world.
TOKENOMICS
UM Token -Incentive & Governance UncleMine
UM is the native token issued on Solana with a total of 1,000,000,000 UM. It is the foundation of the UncleMine protocol's economic incentive mechanism and a crucial tool for protocol chain governance. The UM token is distributed as follows:
40% - UncleMine Treasury (the UncleMine DAO community democratise the usage to support the long-term development of UM)
30.2% - Reserved to provide initial liquidity, incentivize all participants, early cooperation, bug bounty, and other activities;
15% - UncleMine founding team (locked for 12 months, 3-year vesting)
12.3% - Private Sale (locked for 3-6 months, 12-month vesting), for early supporters and computing power providers;
2.5% - Public Sale.
Where to get UM Token
Users can buy UM tokens in the following methods in addition to taking part in the Private/Public Sale or doing so on the secondary market:
Become a UMVL Node, which gives the UncleMine network computer power, proof, and chain services;
offer UM tokens liquidity and, in some cases, turn into a liquidity provider;
- participate in early bootstrapping activities, joins the community, and takes part in UM network testing;
- Users and project parties who take part in the first IMOs will get airdrops.
- enlists in UM as a miner and contributes processing power;
- DAO has adopted additional token distribution and incentive strategies;
Use of UM Tokens
The native token of the UncleMine network is called UM Token. It will be used as a community to participate in governance certificates and to promote the growth of the UncleMine ecosystem. It will also be used to ensure that various roles function normally.
Miners(including different computing power providers): When obtaining the proof of computing power and casting the proof of computing power into NFT, the UMVL node requires payment of UM as a handling charge. Miners must mortgage a portion of UM as a deposit in order to later sell their processing power in UncleMine.
UMVL nodes: To join the network, a specific amount of UM must be staked, however if the proof calculation and on-chain services are correctly performed, the node will earn UM rewards.
Third-party applications: A particular quantity of UM in the form of a charge must be paid in order to access UncleMine's proof feature.
"" Voting governance:** Owners of UM have the option to stake the currency in order to acquire more UM. Owners of sUM also receive additional weight bonuses when voting for governance and are eligible for a number of advantages, including fee waivers or reductions.
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