Place/Date: - February 28th, 2023 at 11:25 am UTC · 5 min read
Contact: UncleMine, Source: UncleMine
Just in time for the market recovering, UncleMine is launching its SECOND IMO! Bringing users a user-friendly and high APY product!
The mining industry has unlimited prospects, but its large-scale integration model makes it costly for individuals to participate. UncleMine’s IMO is an effective solution to this problem.
UncleMine is the first fundraising, DeFi & DAO platform backed by verifiable mining assets.
In IMO, fundraisers need to stake their computing power assets as a premise for financing, and investors get the right to receive the future income of a specific mining asset. The mining assets, whether it is physical computing power or virtual computing power on the chain, are verifiable after verification by UncleMine Oracle and cannot be forged. The relevant proofs are continuously stored on the chain, which anyone can verify at any time. This ensures that investors can invest in mining assets without trust, participate in the investment in the underlying facilities of the blockchain, and obtain stable income.
Compared to the first IMO, UncleMine has agreed with miners to exempt the previous 5% subsidy to miners. This time, all the corresponding mining rewards will be distributed in the UM-UMF2 LP pool! Users’ income has increased significantly.
The Second IMO also continues to expand the usage scenarios of UM. Users use UM to buy UMF2 and need UM to form LP to obtain the revenue of the Second IMO. As IMO accumulates, the value of UM token itself continues to increase.
Filecoin is primarily geared toward providing cold storage solutions to enterprises and developers. Its competitive pricing and ease of access make Web2 clients seeking cost-effective alternatives for storing large amounts of archival data appealing. Use cases include UC Berkeley collaborating with Seal Storage for storing physics research, and Eweison, China’s fastest-growing host of digital content, uses Filecoin for data preservation. Now over 600 known projects are currently being developed on Filecoin, IPFS, and the Protocol Labs Network ecosystem.
ChatGPT, which recently attracted widespread attention from the capital market with over 100 million users in two months, offers more opportunities for Filecoin. OpenAI provides much training data to the natural language processing (NLP) models. The success of AI depends on large datasets, and the demand for storing data is enormous. Other AI communities also adopt decentralized technology and Filecoin to preserve their datasets, choosing to “preserve humanity’s most important datasets on the Filecoin network”.
Besides AI, the zero-knowledge proof is also a hot topic for trustless data cooperation and blockchain scaling, which Filecoin has been utilizing and developing from day one. With the development of the zk technology, Filecoin will be more efficient and used in more scenarios.
UncleMine will launch the SECOND IMO for Filecoin Storage Power on March 1st, 2023, at 8:00 UTC. IMO’s Mining Asset token UMF2 represents the future yield of 9 PiB of storage computing power in the Filecoin network for the next 240 days. The mining assets of this IMO are provided by Filecoin node f01825301.
Current Filecoin storage power selling on the market has no liquidity. Investors can only keep their miners running for the whole life cycle of the storage power to complete their investment, which can be as long as two years. Moreover, the current price of Filecoin storage power units on the market is much higher than UMF2, making UMF2 extremely cost-effective. In addition to being cost-effective, UMF2 has a liquidity pool on the chain, giving investors more flexibility in their choices.
UMF2 is the fungible token sold on UncleMine’s Second IMO.
The total supply of UMF2 is 100,000. The token’s value and staking rewards are backed by the future revenue of 9PiB Filecoin mining nodes.
UMF2 can be traded on decentralized exchanges such as Raydium. UMF2 holders stake UMF2-UM LP tokens on UncleMine to obtain corresponding mining rewards in USDC.
The market is picking up, and Filecoin is rising strongly, followed by increased mining rewards. Although the UncleMine team has done much research on different mining assets and contacted miners during the previous bear market, the team believes that issuing Filecoin IMO can benefit users more.
Remember to subscribe UncleMine Channels at the end of this article to keep yourself updated. Let’s countdown to the launch of UncleMine Second IMO!
UncleMine is the first fundraising, DeFi & DAO platform backed by verifiable mining assets. UncleMine introduces physical and virtual mining assets into the on-chain ecosystem by zero-knowledge-based VMA Oracle, enabling the infrastructure resources to circulate in the Defi world.
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