Unclemine Ico Review: It Is Legit Or Scam Ico?

About Unclemine Ico

Unclemine Ico is a decentralized protocol utilizing 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.

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.

Token Basic Information

Why UncleMine?

MA lacks liquidity and MA holders projects lack effective fundraising channels in typical cryptocurrency ecosystem

Many MAs cannot be decentrally verified and are difficult to integrate into the mainstream DeFi ecosystem

Ordinary investors cannot capture the great value of MA by participating in the project

Solution

UncleMine IMO platform

Unclemine Ico first verifiable MA-based financing platform to increase the credit endorsement of fundraising projects.

UncleMine VMA Oracle

The universal mining asset verification protocol promotes the integration of MA and the existing DeFi/DApp ecosystem, introducing new asset classes to DeFi.

UncleMine DAO

Incentives and governance on Verifiable MA based fundraising and DeFi applications, helping investors realize the value capture of MA.

Verification Layer

Unclemine Ico Trustlessly generate zero-knowledge proofs to prove the existence of computing power

Store proofs on-chain, with a scaleable layered storage method

Verification nodes also act as an decentralized oracle to update data to smart contracts on multiple blockchains

Application Layer

Mint computing power backed NFT that can be verified by anyone

Marketplace for all kinds of tokenized computing powers/assets

Standard oracle API for third-party applications, enabling innovative computing power backed DAPPs such as Decentralized Multi-Power Mining Pool, Initial Miner Offering, Computing Power DAO etc.

Incentive & Governance Layer

Treasury & DAO governance

Limited UncleMine community NFT with extra voting power and more benefits

Well designed incentives for all participants

UMVL (Validation Layer) – The universal mining asset verification layer

On-chain validation

With the continuous development of DeFi, the concept of liquidity mining has been accepted by more and more participants. The LP tokens generated by liquidity mining are very high-quality on-chain assets. The principle of UncleMine’s on-chain asset verification is to use smart contracts to allow asset owners to pledge LP tokens within a unit time, thereby forming asset trust endorsements.

Tokenomics

UM Token -Incentive & Governance UncleMine

Unclemine Ico is the native token issued on Solana with a total of 1,000,000,000 UM. It is the core of the UncleMine protocol economic incentive mechanism and an important medium for governance on the protocol chain. The distribution of UM token is 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

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: UM holders can stake UM to obtainsUM, sUM holders will have additional weight bonuses when voting for governance, and can get various benefits such as fee reduction or exemption in the ecology.