CAPITAL (LIQUIDITY) MINING WITH ETH

Marouane Hajji
Jan 10 · 7 min read

Twelve months of work in the shadows.
Two audits and two more coming soon.
Multiple private testnets, a public testnet and a public testing on mainnet.
Time has come!

We are excited to share our updated Capital Mining Program with you today.

WHAT IS THE CAPITAL MINING PROGRAM?

Our ambition is to initiate a 0 to 1 movement in insurance, starting with crypto and moving to real-world risks as fast as possible.
The first step is to create a portfolio of new insurance products that, we deeply believe, are the ones that crypto needs (learn more about it in our Manifesto).

Using Unslashed, people can protect their crypto holdings while others, farmers and capital (liquidity) miners, with more risk and yield appetite, do the underwriting and are rewarded with premiums paid by cover buyers and Unslashed Governance Tokens.

The Capital Mining Program allows us to reward early supporters and users of Unslashed with our Governance Token and at the same time cement our long term commitment to transform insurance, an antiquated slow-moving industry.

let’s experiment and build the future of insurance

Today, blockchain technology is allowing us to build the bedrock on which a new financial system could be created, new financial and economic experiments can finally take place. This is a long battle during which we will need to disrupt some established players and build alliances with others.

We are thinking long-term and we have to think long-term.
In the same spirit, the Capital Mining Program has been designed to let the DAO control it from the start.
To attract hodlers who share our vision and be able to adapt to new market conditions, we decided the following:

A total of 43 million tokens (out of the 86 million tokens to be issued) will be distributed over a period of up to 10 years.

The Tokens will be held by the Unslashed Finance DAO that will distribute them based on pre-defined milestones and objectives. The Unslashed Finance DAO could also decide to burn some of the tokens if/when the protocol reaches a point when there is no need to distribute anymore.

This DAO would ensure the right incentives are in place at the different steps of the project and distribute tokens to long-term protocol participants and stakeholders. It ensures the durability and sustainability of Unslashed’s development, while using the token as a fuel to accelerate future real world adoption.

We believe rewarding early participants is essential and making sure their incentives are aligned with the protocol’s long term objective is essential.

The Unslashed Finance DAO will control the Unslashed Protocol, vote over the direction and fund necessary development. But first, the Capital Mining details for the Private Launch.

CAPITAL MINING AND PRIVATE LAUNCH INCENTIVES

To start decentralising protocol ownership, attract Capital Supply for the different insurance products Unslashed will be releasing, we are announcing a Capital Mining Program that will take into account all the deposits starting from the announcement of our private launch, on January 6th. This is to answer the multiple requests we received from our early community members. We heard you.

In total, 2 million UNSLASHED Tokens will be allocated for the private launch and previous testing phases. This distribution rate will be at least 50% higher compared to the rest of Year 1.

By depositing Capital (ETH) on Unslashed you will accumulate BOTH Premiums (paid by policyholders, in ETH) and Governance Tokens (distributed by the DAO).

BREAKDOWN OF THE 2M TOKENS

The Private Launch Timeline is the following and has been updated to take into account community feedback:

- Deposit Period: started on January 6th and ends on January 14th.
- 3 Epochs. The first epoch starting on Block Number 11659127 on the Ethereum Mainnet (approx. Jan 14th at 11pm EST) and each epoch will have a 15 days duration.

1. Deposit period

As our aim is to build a sustainable project, we did not intend on distributing Tokens for the deposit period. However, due to overwhelming community support, we decided to allocate 60 000 Tokens out of the 2M Tokens, to Capital Suppliers during the Deposit Period. For both the Spartan Bucket and the different Capital Pools, all will be considered equal for this period and this period only.
The Tokens distributed for early testnet and mainnet testers will be increased to 20 000 Tokens each.

You can deposit capital here: https://app.unslashed.finance/

2. Three Epochs of 15 days each

During the 3 Epochs, the focus and the rewards will be for the Spartan Bucket only.

1.9M Tokens will be distributed over 3 epochs.

- 333 333.33 Tokens will be distributed to Capital Miners who provide Capital to the Spartan Bucket and stay during one full epoch.
The reward is calculated at the end of each epoch and distributed linearly over the following epoch once the token is issued. In the event of a partial withdrawal or transfer of the Spartan Bucket ERC-20 tokens, only the capital or tokens remaining till the end of an epoch will be used in the calculation of your reward.

- At the end of epoch 3, a bonus of 900 000 Tokens will start being distributed linearly to Committed Capital Miners. Committed Capital Miners are the ones who stay from the moment they join till the end of epoch 3, in full. Time and Supplied Capital will determine the share of each participant in the bonus.

Epoch 1 begins on January 14th. Remember to supply capital BEFORE, so your participation counts!

TL;DR;

MVI (Most Valuable Inviters) Booster

The Liquidity Mining rewards in UNSLASHED Governance Tokens will be based on the relative supplied capital in % over each epoch, compared to the total supplied capital in the Spartan Bucket.
These rewards might possibly be boosted by a multiplier that depends on your ranking in the MVI (Most Valuable Inviters) program.

The top 50 Most Valuable Inviters (MVIs) will be guaranteed an extra x1.1 to x1.4 boost on their Capital Mining Rewards.

The MVIs will be determined based on 3 main factors: number of invited participants, activity of the invited participants (Supplying Capital / Buying Coverage) and the amount of capital supplied by the invited participants. For example, inviting participants with no capital supply might negatively impact your ranking.

Learn more about the invitation system:

Supply Capital to participate in the Capital Mining Program:

=> https://app.unslashed.finance/

UNSLASHED FINANCE — TOKENOMICS

Unslashed is based on a total of 86 million UNSLASHED tokens.

The distribution of tokens is as follows:

43 million (50%) tokens for the Unslashed DAO

The mission of the Unslashed DAO is the governance the Unslashed protocol. The DAO will decide on the entire strategy of Capital Mining. It will also decide on the listing/unlisting of different insurance products and offered services. Generally speaking, the DAO will have a say on all decisions that impact the protocol.

10 million (11.6%) tokens for the Foundation

A strategic reserve to ensure the long-term growth of the protocol.

20 million (23.3%) tokens for the team and advisors

Current and future Team Members’ and advisors tokens are locked for 1 year and vested for 4 years.
The founders’ tokens can be vested for periods of time longer than 4 years. At the end of the first year of lockup, an announcement of the extended vesting might be made.

13 million (15.1%) of tokens for early investors

We are proud of our investors. We first raised funds in the middle of the corona outbreak (March/April 2020). As everything collapsed during the onset of the Corona virus crisis, ALL of our investors who promised to invest kept their word. This confidence in our project and their ongoing support was a core driver for us, and has enabled us to develop Unslashed Finance to become what it is, pay the salaries, audits, and more. Without them, nothing would have been possible.

Investor tokens are locked for 1 year and vested for 2 years.

LEARN MORE ABOUT UNSLASHED FINANCE

We are Unslashed and we’ve got your back!

Website: https://unslashed.finance
Invitations: https://medium.com/unslashed/get-your-unslashed-finance-invite-code-today-f106ff44d947
Twitter
: @UNSLASHEDF
Telegram: @UnslashedFinance
Discord: https://discord.gg/jQFxqTpbYC
Contact : @marouaneh

Unslashed

Insurance Protocol for blockchain-related risks