SuperUMAns #8 - Closing the uTVL chapter to open uDAO

SuperUMAns #8 - Closing the uTVL chapter to open uDAO

By PVMihalache | SuperUMAns | 26 Jul 2021


My involvement with the superUMAns started in June and I become more active in the summer. It's hard for me to analyze the success of uTVL-0621 because of the minor involvement I had for this KPI option. However, I feel that the whole campaign had more positive points than downsides. The mechanics behind UMA's KPI options created the incentivization mechanism that can power up any DAO. 

The campaign ended on the 30th of June and only a fraction of the 60,000,000 USD allocated for uTVL-0621 were distributed. The $2 billion TVL target wasn't achieved and uTVL was redeemable close to 0.12 UMA per KPI option. Because I joined late, I only accumulated 6 uTVL-0621, which I choose to donate to another superUMAn.

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Closing the uTVL chapter and opening uDAO

From the activity I seen in the UMA Discord Channel, from the way superUMAns are working together and watching the unique sets of skills gathered in that place ... the uTVL campaing was a total success. Analyzing the KPI value from day one to closing date, the value didn't change much. The issue with the TVL is that the market crash affected hard the value of every cryptocurrency, and the peak at 2 billion USD dropped to only 1.1 after the May bear market. The positive point about the uTVL concluding is that the remaining 95% of the funds locked for this campaign are now unlocked and ready to be reissued into new campaigns.

The social media campaigns promoted UMA and even if uTVL didn't reach it's full potential, the superUMAns hard work will be moved into the next campaign. The links and partnerships with Harvest Finance, BadgerDAO, Index Coop, Sushi highlighted the innovative ideas brought by UMA and the positive image will lead to new partnerships.

This new trend of creating partnerships and the huge community success leaded to Q3 2021 KPI Options campaign - uDAO. The uDAO program will run between the 1st of July up to the 30th of September 2021 and will reward uDAO tokens based on the number of DAO integrations achieved by UMA. For an integration to be completed, a DAO must funds KPI options, Call/Put options or Range Bonds. Every DAO in the Cryptoverse can benefit from KPI Options or diversify the treasury without selling the native tokens by using the Range Token!

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How uDAO works?

Every successful DAO integration will $50 UMA tokens per 1,000 uDAO tokens. If the integration is funded with over $5,000,000 than the uDAO will pay an additional 100 UMA tokens. 

The chart below is used as an example, using $UMA token at $10 value. If UMA has 12 qualifying integrations during Q3, and 4 are funded with over $5,000,000 than the uDAO token value after the 30th of September will be 1 UMA per uDAO.

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The maximum value that uDAO can reach is 3 UMA tokens, which will be achieved if 20 DAO integrations above $5,000,000 are completed. The uDAO mechanics are designed to pay higher the recipients, as 1000 uDAO tokens will pay out $500 for an integration and additional $1,000 for each integration above $5,000,000. The new campaign was designed to be reliable and rewarding for UMA and the SuperUMAns as the estimate is calculated per individual.

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I like the core concept of the uDAO campaign and I will put effort into helping out with DAO integrations. UMA products can simplify the DAO running and reward the social interaction, or any measurable activity, in an efficient way. 

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How to join the superUMAns? The SuperUMAns are the community’s ninja troops. SuperUMAns are the people who bring the community to life. All you have to do to become a superUMAn is show up on Discord in the superUMAn lair. Whatever your talents are, we can put them to good use! There is always room for another superUMAn.

What do superUMAns do? SuperUMAns are having fun! The UMA community environment is fundamentally a place for friends to enjoy the thoughts and energy of other superUMAns. On a more serious note, superUMAns are an indispensable component of the machine that helps UMA reach the greater DeFi community. SuperUMAns are writing articles, making videos, funny content, design swag, hold community calls, are looking for collaboration opportunities, help teaching people about UMA, support other communities, etc!

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The superUMAns Library:

SuperUMAns #1 - AMA about UMA with Hart Lambert!

SuperUMAns #2 - Explaining UMA KPI Options

SuperUMAns #3 - UMA scaling on Polygon

SuperUMAns #4 - What is fCASH by Harvest Finance?

SuperUMAns #5 - Range Token

SuperUMAns #6 - How to become a superUMAn!

SuperUMAns #7 - UMA & BadgerDAO

Residual Income:

Join Splinterlands! 

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PVMihalache
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