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What is UniFil
UniFil is a DAO (Decentralized Autonomous Organization) that provides decentralized Filecoin mining services to the public. DAO means the service types, miner accounts, and mining rewards are managed by a multisig union. Decentralized means the services are built on the blockchain, which is permissionless and transparent.
Filecoin is not compatible with any mining pool protocols. Miners have to build large-scale clusters for stable mining rewards, which is not friendly to small-scale investors. Therefore some investors prefer buying cloud services from Filecoin mining service providers. But these cloud services have the following problems:
- Security: Miner accounts and locked assets are centrally controlled by service providers.
- Transparency: Mining pledges and rewards are not fully disclosed to investors. Investors may suffer losses due to exaggerated claims or malicious behaviors from Filecoin mining service providers.
UniFil aims to establish a trusted third-party DAO as a bridge between Filecoin mining service providers and investors, to solve security and transparency in mining services. The DAO is responsible for
- Reviewing and publishing mining services
- Establishing service relationships and certificates
- Managing, auditing, and distributing mining rewards
In this way, mining services will become open and credible, just like the blockchain itself. Then the entire Filecoin mining market can be regulated.
The DAO will invite some senior and prestigious participants in the Filecoin ecosystem to join, such as technicians, investors, service providers, and trading platforms. They govern mining services by initiating proposals, discussing, voting, and sending multisig messages on the blockchain.
The mining services provided by UniFil are built on the blockchain. First, investors need to use smart contracts to participate in and obtain an on-chain certificate for the service. Then, when mining rewards are generated, they are distributed according to the certificate each investor holds. This ensures the data is transparent and tamper-proof to everyone.
Since the certificate is recorded on the blockchain, investors can also transfer it to others, enabling the certificate's liquidity. Moreover, the certificate can further participate in DeFi (Decentralized Finance) projects such as DEX (Decentralized Exchange) and lending, bringing Filecoin mining into the DeFi world.
We will first finish the establishing of the DAO, including inviting signers, building communities, writing FAQ documents, developing website tools, etc. Then it starts to provide various decentralized mining services from different providers with different parameters and scales to satisfy the needs of various investors.