UMIGL (Incentive & Governance Layer) - DAO & Treasury
DAO & Treasury
UncleMine DAO is a decentralized anonymous organization, implemented on the chain by smart contracts, and managed by multi-signature addresses to ensure the degree of decentralization.
The main function of UncleMine DAO is to determine the use of funds in UncleMine Treasury, vote on which team can do IMO and the upgrade direction of the UncleMine protocol itself (contract code, various basic parameters, etc.). Stakeholders in the UncleMine ecosystem need to obtain the governance token gUM before they can participate in the governance of UncleMine DAO. gUM itself has no economic value and can be obtained by staking UM. In addition, the founding team of UncleMine, UncleMine NFT holders, etc. can also get gUM to participate in governance. Anyone who holds gUM can initiate a governance proposal—such as the cryptocurrency supported by the proposed protocol, the supported LP Token bonding transaction pair, the specific use of UncleMine Treasury, whether the protocol code upgrade will be deployed, etc.—and the gUM holder will vote to decide Whether the proposal passed. Once the proposal is passed, the UncleMine team will be responsible for deployment and implementation or be automatically executed by the smart contract on the chain.
UncleMine Community NFT
In order to reward early participants of UncleMine and increase user participation, UncleMine will also launch 2022 Community NFTs.
UncleMine Community NFT is a digital artwork (or avatar) that can be held and traded by users. It will be issued by auction or mint. (Users who hold the above-mentioned computing power NFT will have different degrees of priority in the auction of limited UncleMine Community NFT. For details, please refer to the subsequent economic white paper), which can be held and freely traded by users. Different from various ordinary digital art NFTs, UncleMine Community NFT also represents a series of rights and interests in the future of UncleMine ecology, including (but not limited to) the right to governance in UncleMine DAO (stake NFT to obtain governance token gUM), Obtain the UM of the UncleMine Treasury airdrop, and gain the right to obtain the fee-sharing from the transaction of computing power assets, etc.
UncleMine Treasury is the public fund reserve pool of the UncleMine project, which is jointly managed by all Stakeholders in the ecology through the UncleMine DAO. In addition to holding UM tokens, UncleMine Treasury will also hold all the funds obtained from the public sale of tokens, with LP token obtained through bonding, and computing power assets captured by the protocol.