RECAP#AMA1020

CryptoFury Community

4 min readFeb 20, 2022

#AMA1020

CryptoFury x UncleMine

⏰ Time: February 18th , 2:00 PM UTC
💰 Reward Pool : 200$
💎 Place : https://t.me/CryptoFury_Chat

Question for Part 1- Project overview:

1.Could you introduce the UncleMine project and your team first?

Gopal Pruitt

Sure. UncleMine is a fundraising, DeFi & DAO platform backed by verifiable Mining Assets (MA).

UncleMine is a group of blockchain veterans distributed around the world.

The founders used to work as CTO, CMO, and tech lead in the top smart contract platform, layer 2, and DeFi projects, and have rich experience and resources in the industry.

2.What is Mining Assets (MA)?

Gopal Pruitt

Mining Assets (MA) are a category of crypto assets that can constantly generate interests, including physical mining assets and virtual mining assets.

Physical mining assets include hashrate or mining equipment of PoW blockchains, storage, bandwidth, general computing power, etc.

They’re the physical infrastructures of Web3.

Mie

Please type “DONE” when your answer finish ^^

Gopal Pruitt

Virtual mining assets include all kinds of interest-bearing assets, such as LP tokens, voting tokens, P2E NFTs, etc.

3.Why do MAs need UncleMine?

Gopal Pruitt

While supporting all the DeFi ecosystem, the MA itself can not participate in the ecosystem. MA holders need effective fundraising channels, liquidity for their assets, financial tools, etc.

But the problem is many MAs cannot be trustlessly verified and are difficult to integrate into the mainstream DeFi.

Ordinary investors cannot capture the great value of MA by participating in the project. These issues can be solved by the tools provided by UncleMine platform.

Question for Part 2: Pre-selected questions from our community

1.What is IMO (Initial Mining Asset Offering)?

Gopal Pruitt

IMO is the fundraising event backed by verifiable MA, which is created by UncleMine.

Until now, most crypto assets can’t be associated with physical assets, or the connection relies on centralized trust. That’s also a key problem in the mining asset market. If you can’t prove you have certain mining rigs, the investors on the market can only trust you for what you claimed.

In UncleMine’s IMO, the fundraiser must prove the mining ability he or she claimed, then carry out the fundraising event.

2.What is UM token?Are there any supporters?

Gopal Pruitt

UM token is the native token of the UncleMine platform. It can be used as a pledged asset to ensure the safety of the platform, as a ticket to enter events held on UncleMine, and as the governance token of UM DAO, which can vote to control the treasury and the future development of the platform.

UM token will be the incentive for participants and builders on UM platform, including staking, yield farming, etc.

As for the supporters, UncleMine got support from some of the top funds in the blockchain area, including Fenbushi Capital, HashKey Capital, Continue Capital, LongHash Ventures, GBV, etc.

3.Why does UncleMine choose Solana?

Gopal Pruitt

UncleMine will be compatible with almost all smart contracts, but considering the unique characteristics of product design, we will first deploy on the Solana blockchain.

This includes smart contracts and ecological construction related to UMOL and UMIGL.

Solana is an emerging high-performance public chain with good scalability and rapid ecological development. The transaction volume of assets on Solana is only next to Ethereum and BSC.

4.What functions does UncleMine provide now?

Gopal Pruitt

UncleMine is at the alpha version right now. The application has been deployed on Solana Devnet.

For now, users can generate MA with their Filecoin mining power. We’ll add more MAs to the platform in the near future.

5.Can you provide some information about the coming IDO of UM?

Gopal Pruitt

The IDO of UM token will be held in two platforms, SolRazr and Dexlab, both are excellent platforms for investors to participate in early projects.

During IDO, 2.5% of the total supply of UM would be available on both platforms, that means 1.25% (12,500,000 UM) each. Both of the platforms will start the IDO or whitelist of the IDO on Feb. 21 UTC time.

You can check our IDO info page on https://unclemine.org, or find the event on the particular platform. For Dexlab, the link is https://trade.dexlab.space/#/v3/ido/8f5ebbe0-7a6c-11ec-a9ee-0ad975615eae
, and for SolRazr, the link is https://solrazr.com/projects/unclemine.