Unifi appoints Sesameseed as the first DCR

The GGM continues to develop as the first DCR is named

• Unifi Protocol would not exist without the contribution from Sesameseed community
• Sesameseed will be the first DCR in the GGM
• UNIFI will become a part of the SEED redeem value
• Traders who earn SEED will now also be earning UNIFI as a part of SEED
• UNIFI’s market cap can grow without diluting existing holders
• 50,000 SEED holders become invested in Unifi’s success

The Unifi Protocol was developed by Sesameseed and has since gained popularity as the underlying protocol for uTrade, the multi-chain trading platform with a sustainable and rewarding token economy. uTrade is currently operational on multiple blockchains, with the Protocol’s cross-chain Proof of Stake Global Governance Model (GGM) about to officially launch.

Under the Global Governance Model (GGM), powered by the UNIFI token, Unifi Protocol will be governed by the Unifi Council of Representatives. The Council is composed of Community Council Representatives (CCRs) and Designated Council Representatives (DCRs).

It is important to the continued growth of the Protocol for Sesameseed to remain deeply involved and to have a voice in Unifi’s governance. To ensure this continued partnership, Unifi is announcing two key agreements that will benefit both Sesameseed and Unifi.

DCRs — A trusted voice in Governance

Designated Council Representatives are positions filled by the Unifi Team or Unifi Strategic Partners. Designated Council Representatives ensure a voice in the GGM for those with the most knowledge of the Protocol, and creates opportunities for partnerships beneficial to the entire Protocol and all UNIFI holders. DCRs will be the minority voice in the fully developed GGM.

If they earn any reward for their service, DCRs will be rewarded from the Designated CR rewards pool. It is important to note that Designated CRs DO NOT accept community UNIFI stake, DO NOT receive Governance Rewards, and DO NOT receive Community Rewards. Designated CR’s length of service may vary from one to the next, and a DCR’s reward can vary.

The First DCR is Announced

As the developers of Unifi Protocol, Sesameseed should have a voice in Unifi’s Council of Representatives. Unifi is proud to announce that Sesameseed will be appointed as the very first Designated Community Representative.

In keeping with its pledge to community transparency, Sesameseed has chosen to make its appointment as a DCR publicly known. This is a voluntary choice for DCRs and each will decide on this point at the time of their appointment.

Sesameseed has also elected to have its DCR rewards made public, should any reward be paid. DCR rewards are not yet established, so no DCR reward has been established for Sesameseed’s service.

Unifi will provide UNIFI to Sesameseed

Unifi will be providing UNIFI tokens to Sesameseed for approximately the first half of 2021. This UNIFI is not a DCR reward. The UNIFI will be used by Sesameseed to further the growth of the UNIFI Protocol, the Unifi community, and to ensure Sesameseed’s continued commitment to develop the Protocol.

What is SEED?

SEED is Sesameseed’s multi-chain staking rewards tokens, which can also be earned as a loyalty rewards bonus to traders on uTrade. SEED is minted according to a Minting and Distribution System.

Placing UNIFI into SEED’s redeem value will have three valuable benefits to Unifi.

1. UNIFI for Traders: Traders earn SEED as a loyalty rewards token. Through the SEED rewards token, those traders will now be earning some UNIFI when trading. In this way, traders will become participants in the Unifi Global Governance Model (GGM).
2. UNIFI grows without dilution: UNIFI placed into the redeem value of SEED can not easily be released. This means the UNIFI circulating supply and marketcap can grow without negatively diluting the market. In order for the UNIFI that is placed into the SEED redeem value to impact the market, SEED must be redeemed.
3. The Sesameseed Community participates in GGM staking: Sesameseed has committed to staking the UNIFI in the SEED redeem value. Through SEED, approximately 50,000 SEED holders, across 4 blockchains, will participate in the Unifi Global Governance Model. All of them will be invested in the overall success of the Protocol and UNIFI.

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