unifiprotocol
Published in

unifiprotocol

Functions of a Unifi Protocol Community Council Representative

What is expected from a Community Council Representative

Before diving in, it is important to remember that as with other phases of the UNFI GGM launch, the functions of a CCR are open for community feedback on Unifi’s Reddit. All UNFI holders should be providing their input into the GGM!

In the Unifi Proof of Stake document, UNFI holders were introduced to the Unifi Council of Representatives, composed of Community Council Representatives (CCRs) and Designated Council Representatives (DCRs).

Community Council Representatives (CCRs) are just that — representatives for the Unifi community. So what is expected from a CCR?

CCRs should be Advocates for the Unifi Ecosystem

In a blockchain Proof of Stake system, members of the governing body are typically obligated to operate a node to support the blockchain and earn rewards. In the Unifi Protocol DAO, Community Council Representatives will not operate a node, but there is an expectation they will provide work and support to the DAO in order to earn rewards.

Staking is healthy for the Unifi Protocol ecosystem. CCRs are incentivized by Governance Rewards and Community Rewards to increase the total amount of UNFI staked in the GGM, as well as to grow the amount of delegation to their specific CCR. UNFI holders are encouraged to carefully evaluate CCR candidates to ensure they are supporting the DAO prior to delegating their UNFI. The overall success of CCRs in encouraging UNFI to be staked directly impacts the rewards to all users of the Protocol, including both liquidity providers and traders on uTrade, as well all UNFI token holders.

To fulfill their obligations to the DAO, UNFI holders should expect their CCRs to excel in the following categories. Important CCR functions are:

  1. Increase the overall participation in UNFI Proof of Stake and governance. Increased UNFI staking and governance participation is a benefit to everyone and should be the primary goal of all CCRs.
  2. Promotion of the Protocol beyond Unifi’s current community. Unifi is built to align the interests of the entire community behind growing the community. A growing community supports the primary goal of increasing the amount of UNFI participating in governance and is a critical role for CCRs. This would include advocating for the Protocol through various outlets, creating content such as infographics and memes to interact with relevant social media, running promotional activities, advertising, recruiting partners, or any other means to spread the word about the benefits of becoming a member of the Unifi community.
  3. Create educational materials on how to use the Protocol. This could include information on: APY tools, Unifi-based utilities, trading, providing liquidity, earning the best rewards, developing on the Protocol, how to stake, how to be a part of Protocol Governance, migration, Unifi tokenomics model.
  4. Recruit liquidity providers and traders on uTrade or other Unifi platforms. This would include explaining the utilities and rewards of UP, migration, and the sustainability of the Unifi tokenomics system.
  5. Be actively involved in the community. Regular interaction with the community will allow CCRs to represent the community, answer delegators’ questions, and vote on DAO proposals in the best interests of the Protocol. CCRs should be creating community referendums on a regular basis as a means of communicating with UNFI holders and assessing their representative needs.
  6. Contribute to the health of the Unifi tokenomics model, and overall liquidity provider rewards, by mitigating the market price impact of selling UNFI provided as rewards to the CCR.

Unifi Protocol’s website can be found at https://www.unifiprotocol.com/. You can also connect to the Unifi community on Telegram, Twitter, Reddit or Medium. Developers — check out our bounty list to develop on the Unifi Protocol at https://gitcoin.co/issue/sesame-seed/Quest/1/100023698

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Unifi Protocol

Unifi Protocol

936 Followers

Incentivizing community participation in DeFi economies across multiple blockchains | Earn $UP