Hello Ontology Team,
Please see below our allocation of and usage of funds for review, we’re excited to help support the Ontology Community and Ecosystem.
1. How much Liquidity would you like Ontology to Provide:
Unifi Protocol Dao requests a cumulative value of $1M in liquidity to be provided for a period of 1 year. As the EVM ecosystem of ORC-20 tokens continues to evolve we recognize the need for an evolving priority of liquidity. To accommodate for this we would like the following liquidity to be provided, and for this liquidity to evolve as Ontology sees fit over the coming year as new tokens are introduced.
Initial Liquidity Provided:
UP / ONG - 200k Initial Liquidity provided
Wing / ONG - 300k Initial Liquidity provided
ONT / ONG - 500k Initial Liquidity provided
A note on UP token:
UP token is the ecosystem reward token of Unifi Protocol DAO. UP is unique in that it is a 100% backed token, in the case of the ORC-20 version of UP it will be 100% backed by ONG, as opposed to the original OEP-4 Token backed 100% by ONT. For the purpose of providing liquidity and to ease the liquidity provision above, Unifi Protocol DAO shall permit a one-time minting of the UP token at the standard rate by the Ontology Team to better support the above mentioned liquidity provision (this has never been granted previously to any other organizations).
2. What will the rewards be for providing liquidity
Rewards provided for providing liquidity will be standard as with all existing versions of uTrade V2. This being relative to the activity of the pair for which liquidity is provided, and to be paid in UP token, which in turn may be redeemed for ONG. Please further see Section 4 as a request to supplement these rewards is further outlined below. More information on the specific rewards mechanism can be found HERE.
3. What other co-hosted events are you open to discuss
Co-hosted events and community building are of huge importance to Unifi Protocol; the exact details can be found below, in points 3, 4 and 5.
4. What extra support would you like Ontology to provide
Total Requested Support:
- $1M Liquidity provided by Ontology to remain in their custody
- $500k in additional Co-Marketing and Ecosystem development support.
Co-Marketing and Ecosystem Development Support ($500k)
$200k in ONT to be provided to support current and future development incentives surrounding uTrade v2, the development and implementation of uBridge, the deployment of UNFI as a native token on the Ontology Blockchain, and future upgrades to the UP ecosystem. Unifi Protocol Dao intends to utilize 100% of these tokens to self stake to the Unifi Node on Ontology to open up more community staking spots and continue to offer the highest staking rewards on Ontology rewards to even more users on the Ontology network.
$100k in ONG to be granted to Unifi Protocol Dao to support the creation of a UNFI / ONG pair on uTrade (for a total initial liquidity of $200k). Unifi Protocol shall create a bridge system for UNFI to other EVM chains, and provide $100K in UNFI liquidity to match the ONG liquidity.
A commitment of $50k to be used on CoinTelegraph, CCN, and other PR news outlets for the purpose of advertising ongoing Ontology x Unifi Protocol related developments over the coming year.
A commitment of $20k to be used towards the hosting of 4 Ontology x Unifi Protocol related events to be hosted in London, Madrid, Toronto and Los Angeles over the coming year.
An additional commitment of $30k to be provided to host a series of monthly events In Los Angeles, specifically highlighting Ontology and Unifi Protocol.
$100k in ONG to be provided to hugely supplement Liquidity Provider Rewards on uTrade for a period of 1 year. (100% of which will be provided to Liquidity Providers including Ontology as stated above.)
As stated above, Unifi plans to utilize 100% of the above mentioned $500k request to directly benefit the Ontology ecosystem.
Thank you all for taking the time to review the above proposal, which we believe will not only ensure a top quality product is deployed on Ontology, but that ongoing support and marketing is highly leveraged to ensure huge community participation.
The Unifi Protocol Dao Team!