Community Governance Proposals
We are pleased to announce that our community governance is now live and can provide further details regarding Unifty governance proposals, $NIF staking, the fair launch of the $UNT token, and the release of the Unifty Litepaper.
$UNT Fair Launch and Tokenomics
The $UNT token will have a truly fair launch. There will be no pre-mining and no free tokens will be allocated to the team or any existing investors. 100% of the $UNT supply will be allocated proportionally to $NIF holders that are staking their tokens in our Exhibition Vaults (a more detailed write up on the Exhibition program and Vaults can be found in our Litepaper released with this article).
The details of the $UNT launch are as follows:
- Maximum supply: 1,000,000,000 $UNT
- 10,000,000 $UNT (Month 1)
- 50,000,000 $UNT (Month 2)
- 47,500,000 $UNT (Month 3)
- 45,125,000 $UNT (Month 4)
An initial amount of 10,000,000 $UNT will be minted and distributed to $NIF stakers in our Launch Vault over a period of 28 days during Month 1. A further 50,000,000 $UNT will be minted in Month 2 and subsequently, a monthly mint rate that decreases by 5% every month will be activated from Month 3 and onwards.
The maximum supply is limited to 1,000,000,000 UNT tokens, However, with the mechanics above, the supply will never reach 1 Billion tokens. In essence, from Month 2 onwards, $UNT will be largely distributed to token holders that stake $NIF in the Unifty Exhibition Program. There will also be a percentage of $UNT rewards allocated to LP (Liquidity Providers) on the Uniswap pairs of both $UNT and $NIF. These numbers will be determined soon.
$NIF Staking and Community Governance
As previously mentioned, decentralized governance is now running across the Unifty network with the initial proposal being announced to our community, effectively resulting in the initial release of $UNT tokens.
$NIF token staking is now live, and is currently only available for network governance. As a result, there are no rewards just yet, and any network proposal can be activated once 150,000 $NIF has been staked in the governance contract.
In addition, a proposal for "Exhibitions'' has been outlined in our litepaper. The Exhibitions program will provide artists with a form of guaranteed income alongside the potential to also sell their NFTs, and provide a value capture mechanism for $NIF stakers, who can pick exhibitions to “back” by allocating their $NIF in return for a share of minted $UNT rewards.
You can find everything you need to know about our Community Governance Program, $NIF and $UNT tokenomics and the Unifty Exhibition Program in the Unifty Litepaper which can be found here.