INTERNET CITY, DUBAI, Apr. 2, 2022 – LBank Exchange, a global digital asset trading platform, will list UncleMine (UM) on April 5, 2022. For all users of LBank Exchange, the UM/USDT trading pair will be officially available for trading at 16:00 (UTC+8) on April 5, 2022.
In a typical cryptocurrency ecosystem, many mining assets (hereinafter MA), 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. UncleMine (UM) hopes to use cryptographic technologies such as zero-knowledge proof to integrate on-chain liquidity and off-chain computing resources, break the barriers of various computing resources off-chain and virtual worlds on blockchains, redefine the form of computing power in the next-generation Internet, establish a smooth financing channel to help MA holders, and open to provide MA liquidity as a new on-chain assets. Its native token UM token will be listed on LBank Exchange at 16:00 (UTC+8) on April 5, 2022, to further expand its global reach and help it achieve its vision.
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UncleMine is the first verifiable mining-asset-backed fundraising, DeFi, and DAO platform. 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: Verification Layer, Application Layer, and Incentive & Governance Layer.
The verification layer can trustlessly generate zero-knowledge proofs to prove the existence of computing power and store proofs on-chain with a scalable layered storage method. Verification nodes on it also act as a decentralized oracle to update data to smart contracts on multiple blockchains. The application layer enables the minting of computing power backed NFT that can be verified by anyone. It creates marketplace for all kinds of tokenized computing powers or assets, and provides 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. The incentive & governance layer provides well designed incentives for all participants as well as Treasury & DAO governance. There is also limited UncleMine community NFT with extra voting power and more benefits being provided.
The solutions UncleMine is offering include UncleMine IMO platform, the first verifiable MA-based financing platform to increase the credit endorsement of fundraising projects; UncleMine VMA Oracle, the universal mining asset verification protocol that promotes the integration of MA and the existing DeFi/DApp ecosystem, introducing new asset classes to DeFi; and UncleMine DAO, which provides incentives and governance on verifiable MA based fundraising and DeFi applications, helping investors capture more value of MA.
About UM Token
UM is the native token of UncleMine issued on Solana with a total of 1 billion (i.e. 1,000,000,000) tokens. It is the core of the UncleMine protocol economic incentive mechanism and an important medium for governance on the protocol chain.
40% of the total supply goes into the UncleMine Treasury, with which the UncleMine DAO community democratizes the usage to support the long-term development of UM. 30.2% is reserved to provide initial liquidity, incentivize all participants, early cooperation, bug bounty, and other activities. 15% is allocated to the UncleMine founding team (locked for 12 months, 3-year vesting). 12.3% is provided for private sale (locked for 3-6 months, 12-month vesting), for early supporters and computing power providers, and the rest 2.5% is provided for public sale.
UM will be listed on LBank Exchange at 16:00 (UTC+8) on April 5, 2022, investors who are interested in UncleMine investment can easily buy and sell UM token on LBank Exchange by then. The listing of UM on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.
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About LBank Exchange
LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users from now more than 210 regions around the world.
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