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DeFi-ing Gravity — UMA DeFi Accelerator Ready for Liftoff!

By March 26, 2021No Comments

Last month, we proudly announced that UMA would be the first project to join Blockzero’s new Defi Accelerator, a program that seeks to educate, incentivize, and onboard the next 1,000,000 users into the world of decentralized finance.

Today, we can finally reveal the details of this “Gravity DeFi-ing” mission, kicking off on April 1st. And to make sure we’ve got your attention, there will be $50,000 worth of Blockzero’s $XIO tokens, 2,000 of UMA’s KPI Options (uTVL) worth between $5k-$100k, as well as $5k worth of UMA Call Options up for grabs! Rewards will be distributed at the end of the Accelerator via the Blockzero Claims dapp.

What are KPI Options? “Essentially, it’s a way to incentivize users to help grow the UMA protocol, as the value of the KPI options are directly tied to the growth of UMA’s TVL.

Beginning on April 1st and running for 30 days, Blockzero will launch three unique campaigns designed to drive education, engagement and adoption of UMA’s various protocols and dapps. With each campaign, there will be an increasing amount of $XIO available to be earned by participants, as well as a set amount of UMA’s uTVL Options + Call Options.

Be sure to keep your eyes peeled for our weekly Medium articles which will outline exactly what you can do to participate in each initiative.

In order to participate and receive rewards throughout the entirety of the campaign, you must do the following:

JOIN UMA'S DISCORDJOIN UMA'S DISCOURSE FORUMWHITELIST YOUR ETH ADDRESS + DISCORD/DISCOURSE USERNAMES

Phase 1: Education — $10,000 XIO + 400 uTVL Options (April 1st — April 8th)

In Phase 1, we’ll be releasing an interview with UMA’s co-founder Hart Lambur on our Around the Block podcast, hosted by Lea Thompson (aka Girl Gone Crypto). In this interview, you will learn all about the story behind UMA, the bigger picture of the project, and gain a fundamental understanding of synthetic tokens.

Zachary Dash, the founder of Blockzero Labs, will also be creating a deep-dive macro-level explainer video of the UMA protocol.

So, where do you come in?

$10,000 worth of XIO + 400 uTVL Options will be up for grabs in a W. We’re calling on the combined UMA and Blockzero communities to create unique walk-through articles, video guides, or even in-depth explainer Twitter threads to help newcomers learn about UMA’s Dapps, or the UMA protocol itself. It’s really up to you how you want to help educate the world on UMA.

Each participant will submit their “Walk-Through” links on the UMA Discourse forum for entry. More details will come next week on where to officially post your entries on the forum.

For clarity, we highly encourage you to post your content on whatever native platforms you choose — be it Youtube, Twitter, Medium, Facebook, Reddit, or all of the above — just be sure to share your original link on the Discourse forum thread to enter.

Two winners will be selected from each of the following Dapps/Protocols, derived from following two categories (so in total, 10 winners will be selected):

1. Walk-Through Guides — Creative, in-depth video or written article outlining in a step-by-step manner how to use the given dapp.

2. General Overviews — A more broad explainer of what the dapp /protocol does. This could take the form of a well-written twitter thread, Youtube video, blog, or explainer graphic.

  • uStonks(1 walk-through winner/1 overview winner)
  • UMA Bills(1 walk-through winner/1 overview winner)
  • Domination Finance(1 walk-through winner/1 overview winner)
  • Wildcard — Choose any of the other UMA dapps/projects…surprise us! (1 walk-through winner/1 overview winner)
  • Mystery Box — Literally anything at all. Could be an infographic, short-film, GIF, animation, NFT idea, a song about UMA… Surprise us with your skills. Unlock a hidden surprise bounty (two winners from this section as well)!

Voting will begin on April 8th at 2:00 p.m. uTC via a poll on UMA’s Discourse Forum, and will remain open for 24 hours. The winners will be announced via Discord/Discourse on April 9th.

Phase 2: Engagement — $5,000 XIO + 200 uTVL Options (April 8th — April 15th)

Goal: Increase the understanding of the potential for synthetic assets through an incentivized and engaging synthetic token ideas tournament, as well as a KPI Option open debate.

XIO Option Open Debate

Zachary Dash, the founder Blockzero Labs, will hold an open debate to discuss all things related to KPI options on a Youtube livestream on Friday, April 9th (time is TBD). The goal of this discussion is to really expand the communities perception of what KPI options and synthetics are, and to fully wrap your head around the ground-breaking implications of them. For more info on their uTVL Options, check out their one-pager.

Synthetic Token Competition

Do you have what it takes to think of the next viral Synthetic token idea? By the time Phase 2 rolls around, you’ll have a better understanding of what a synthetic token is, and how there’s a seemingly limitless amount of ways they can be utilized and created. If you’d like further clarity, check out UMA’s insightful interview on Bankless.

We are giving away $5,000 $XIO + 200 uTVL Options to Blockzero Citizens and Super UMAns who can come up with unique, innovative, and unorthodox synthetic token ideas that would theoretically drive the most TVL for UMA. Who knows, the winning idea might even have a chance to get built.

Each participant will submit their “Token Idea” entry to the UMA Discourse Forum by April 14th, 3 p.m UTC.

After submitting, the top four ideas as voted on internally by the UMA/Blockzero teams will go into a final round.

On April 15th-16th, we will hold a community vote to determine the final top 3 winners on UMA’s Discourse Forum.

1st place will receive $3000 XIO + 120 uTVL options

2nd place will receive $1500 XIO + 60 uTVL options

3rd place will receive $500 XIO + 20 uTVL options

Phase 3: Adoption — $35,000 XIO + 1,400 uTVL options + $5,000 UMA Call Options ( April 15th — April 30th)

Synthetic Mining Competition

Goal: Increase UMA’s liquidity by incentivizing participants to mint and hold synthetic tokens.

In alignment with UMA’s $1 billion TVL goal, today we are announcing the creation of the XIO Yield Dollar.

During this two-week Synthetic Mining Competition, users will be rewarded for the minting of the XIO Yield Dollar. Stay tuned for a more in-depth video overview from Zachary Dash explaining the creation of this!

From April 15th-30th, we’ll be taking a daily snapshot of all whitelisted ETH addresses that mint XIO Yield Dollars. Participants will be rewarded at a rate proportional to their XIO Yield Dollar holdings (reward structure will be explained in more detail during Phase 3’s Medium blog).

As a bonus, the first 56 addresses to mint XIO Yield Dollars will receive 25 uTVL options each.

Closing

We’re excited to get this off the ground and kick off the first-ever DeFi Accelerator program with UMA. Stay tuned next week for the official Medium blog breaking down Phase 1 in further detail.