UncleMine launched its hot UM token today. What about DXV?
UncleMine Protocol plans to use cryptography technology to convert all kinds of computing power into universal and verifiable on-chain proof. As a result, it will realize the accurate mapping of off-chain computing power to on-chain smart contracts. Furthermore, the company will give computing resources and computing power programmability, liquidity, and composability. UncleMine released its hot UM token today.
Through the incentives of the economic model, the team will integrate computing power into existing DeFi ecosystems, creating a unique asset class in the decentralized world. However, to achieve this goal, the team divided the design of UncleMine into several layers.
The first one is the UncleMine Verification Layer (also called UMVL). It is the verification layer of the physical world’s computing power and virtual world’s mining, as well as utilizing smart contracts, aggregated signatures, zero-knowledge proof, and Verifiable Delay Function.
For the assets on-chain, the company can use smart contracts and mortgage LP tokens to generate proof of assets. And for the off-chain part, the cryptography technology will transform the computing power resources in the real world into cryptographic proofs that are verifiable and untamperable. Thus, it will turn the actual computing power resources and computing power assets into abstract and quantifiable digital expressions.
However, the team pointed out that such mathematical proofs of computing power are often relatively abstract, and smart contracts cannot use them directly. The company will realize the on-chain storage of the off-chain computing power proof through a series of smart contracts to solve this problem. It will also provide a standardized Oracle interface, which is compatible with various existing DApp/DeFi applications.
What about the second layer?
UncleMine Application Layer (UMAL) is the second layer. Using the on-chain proof provided by UMVL, any decentralized application will be able to access a variety of computing power proofs as input data. As a result, the users will expand the functions of their own applications. Third-party applications will also submit requests to UncleMine to add custom proof requirements or specific types of computing power proofs. The UncleMine team proposed a public financing platform endorsed by mining assets, also known as IMO (Initial MiningFi Offering). It became the company’s first application.
The third layer is UncleMine Incentive & Governance Layer (UMIGL). It unites incentive and governance layers of the UncleMine ecosystem. UMAL and UMVL have found a feasible path for computing power and applications. However, the code is only part of UM. The company’s vision requires the participation of different roles such as community members, developers, users, and computing power providers. Thus, incentives and governance are also an important part of UM, including its Tokenomics and DAO.
Furthermore, with the continuous development of Defi space, more and more participants accept the concept of liquidity mining. That’s why the team decided to offer LP tokens. Generated by liquidity mining, these coins are very high-quality on-chain assets. UncleMine’s on-chain asset verification enables customers to use smart contracts. Consequently, asset owners will be able to pledge LP tokens within a unit of time and form asset trust endorsements. In addition, UMVL generates simple zero-knowledge proofs through decentralized nodes, aiming to prove the existence of computing power.
What other features does this company offer?
Smart contracts can’t use the proof of computing power directly since it is generated off-chain. So, the company needs a set of middleware tools to transmit the generated proofs to the chain credibly. The team calls this the computing power oracle.
The UM computing power oracle is the interface between the on-chain smart contract and the off-chain computing power proof. It consists of a series of APIs and smart contracts. Moreover, the computing power oracle uses the computing power proof generated by the off-chain nodes as input. Then through the collaboration between the nodes, the platform transmits the credible proof to the specified on-chain contract in real-time. Any customer can prove that the holder of a certain address has a specific amount and type of computing power running simply by reading the on-chain data.
Besides, third-party applications will be able to integrate these proof data into their own business logic. Thus, they will build various decentralized applications centered on computing power resources, as well as computing power assets. In addition, UMVL can also accept feedback input from other smart contracts, thereby generating feedback signals on the real-world computing power and guiding the allocation of computing power resources off the chain.
UncleMine launched its trending UM token on February 21, 2022. The sale will end on February 23, 2022. 12,500,000 UM will be available for purchase for the price of $0.060000 during the initial coin offering. That is 1.25% of the total supply. UM is the platform’s native utility token.
DXV token is also highly ranked. Why’s that?
DefiXVerse plans to launch its native token on March 31, 2022. The sale will end on April 13, 2022. The total supply of DXV is 80000000, but only some percentage will be available at the first stage. DefiXVerse is a metaverse Casino that plans to create an incubator launchpad on-ramp for 3rd party developers. Its users will be able to build their own casino games and launch them on the DefiXverse platform with Intellectual property protection, as well as income-generating NFTs.
Traders will be able to purchase ownership stakes of individual games. They will also generate revenue through income-generating NFTs based on the profit coming from each game. The platform plans to launch with 3D poker initially. However, the team will add more games after the completion of the incubation launchpad for the 3rd party developers. According to the company, the games added to the platform will feature Play2Earn technology where gamers can earn valuable NFTs just for playing various games on the platform.
Furthermore, the company offers interesting features for its Metaverse. The DXV platform will provide users with a secure and fully decentralized ecosystem in which they will be able to establish their own rules. Gambling will also be very simple and straightforward on the platform, requiring only a wallet connection. The team also noted that the DefiXVerse token would be the proprietary token for the game’s operation. Using this token will allow investors to make decentralized payments as well as exchange funds instantly.
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