UncleMine UM Price $ 0.0000413

The core idea of ​​UncleMine Protocol is to use cryptography technology to convert all kinds of computing power into universal and verifiable on-chain proof, to realize the true mapping of off-chain computing power to on-chain smart contracts, and to give computing resources and computing power liquidity, programmability, and composability. Through the incentives of the economic model, computing power is integrated into existing DeFi ecosystems and becomes a unique asset class in the decentralized world. In order to achieve this goal, the design of UncleMine can be divided into the following layers:

UncleMine Verification Layer (UMVL): The verification layer of the physical world's computing power and virtual world's mining, utilizing (but not limited to) smart contract, zero-knowledge proof, aggregated signatures, and Verifiable Delay Function. For the assets on-chain, we can use smart contracts to mortgage LP tokens to generate a proof of assets. And for the off-chain part, the cryptography technology transforms the computing power resources in the real world into cryptographic proofs that are untamperable and verifiable, thereby turning the actual computing power resources and computing power assets into abstract and quantifiable digital expressions. However, such mathematical proofs of computing power are often relatively abstract and cannot be directly used by smart contracts, let alone economic integration. Through a series of smart contracts, the on-chain storage of the off-chain computing power proof is realized, and a standardized Oracle interface will be provided, which is compatible with various existing DApp/DeFi applications, bringing computing power assets into the smart contract layer.

UncleMine Application Layer (UMAL): Using the on-chain proof provided by UMVL, any decentralized application can access a variety of computing power proofs as input data to expand the functions of its own applications. At the same time, third-party applications can also submit requests to UncleMine to add specific types of computing power proofs or custom proof requirements. The first application proposed by the UncleMine team is a public financing platform endorsed by mining asset, also known as IMO (Initial MiningFi Offering).

UncleMine Incentive & Governance Layer (UMIGL): The incentive layer and governance layer of the UncleMine ecosystem. UMVL and UMAL have found a feasible path for computing power and applications, but the code is only part of UM. UM's vision requires the participation of different roles such as community members, users, developers, and computing power providers. Therefore, incentives and governance are also an important part of UM, including:

• UncleMine Tokenomics
• UncleMine DAO

UM Token

How to obtain UM Token

In addition to participating in the Private/Public Sale or purchasing in the secondary market, users can obtain UM tokens in the following ways:

• Become an UMVL Node, provides computing power proof and chain services for the UncleMine network;
• Provides liquidity for UM tokens, and becomes a liquidity provider in certain;
• Participates in UM network testing, becomes a community member, and participates in early bootstrapping activities;
• Project parties and users who participate in early IMOs will receive airdrops.
• Joins UM as a miner and provides computing power;
• Other token distribution and incentive methods adopted by DAO;

UM Token Usage

UM Token is the native token of the UncleMine network. It will be used to encourage the development of the UncleMine ecosystem, ensure the normal operation of various roles, and will be used as a community to participate in governance certificates.

• Miners(including different computing power providers): Payment of UM to the UMVL node is required as a handling fee when accessing the proof of computing power and casting the proof of computing power into NFT. If miners subsequently want to sell their computing power in UncleMine, they also need to mortgage a portion of UM as a deposit;
• UMVL nodes: a stake of a certain amount of UM to join the network is required, but if the proof calculation and on-chain services are provided correctly, the node will receive UM rewards;
• Third-party applications: in order to gain access to the proof function of UncleMine, a payment of a certain amount of UM as a fee is required;
• Voting governance.