UMAL (Application Layer) - IMO(Initial MiningFi Offering) platform based on Mining Assets

Initial MiningFi Offering platform based on Mining Assets

Initial miningFi offering(IMO)

With the development of the blockchain world, we have found that the financing models of projects are becoming more and more diverse. From early ICO to today’s IDO, the key to financing has always been to build trust between project parties and investors. In order to gain the trust of investors/communities, project parties usually need to show their white paper, project vision, roadmap, and reliable team. Some teams have certain assets when they are founded, while others, with the continuous development of the project, will accumulate certain funds and computing assets in different stages of financing. These asset endorsements are also one of the important decision-making factors for the A/B/C/D round of refinancing in the traditional investment field.

Now UncleMine has introduced a new form of trust, which is endorsed by mining assets to help teams with traditional computing power or LP tokens, pledge these certain assets to achieve rapid financing - we call it initial miningFi offering(IMO). This is also the first application-layer application that utilizes mining assets.

Teams that want to raise funds, in addition to building their website as usual, need to show their mining assets NFT to prove the current asset. Smart contracts can guarantee that the pledged LP token or proof of computing power can be retrieved through this NFT. Every UM holder can participate in the project's IMO through the market place.

Mining Assets NFT

Mining Assets NFT is the most unique digital asset in the UncleMine ecosystem, and can only be minted through the proof of computing power or LP tokens provided by the UncleMine protocol. The mining asset NFT represents the computing power resources & LP tokens that actually exist in the physical/virtual world, which is guaranteed by UncleMine's cryptographic scheme to be true and effective.

The mining assets NFT can be used in the UncleMine ecosystem and other related DeFi applications, using multiple computing power NFTs to form a decentralized mining pool, and using mining assets NFT as collateral to borrow other assets in DeFi lending applications besides IMO. The value of mining assets NFT itself will continue to be tapped with the development of the UncleMine ecology, exceeding the value of mining asset in the universal world.

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