UBA(Universal Basic Asset) Now Supports OKC
We are pleased to announce that UBA(Universal Basic Asset) supports OKC to provide infrastructure for future SocialFi projects on OKC.
UBA (Universal Basic Asset) is a SocialFi Oracle with Web3 privacy protection, which motivates users to bring user relationships that originally existed off-chain to the chain through the token economy and opens the interface to SocialFi developers to access. For developers on OKC, UBA provides the SocialFi Oracle interface, builds new underlying infrastructure, and assists OKC in creating a more friendly developer ecosystem to facilitate the deployment of SocialFi developers on OKC in the future.
In the quickly developing web3 economy, it is increasingly important to have a SocialFi infrastructure that can bring real-life people relationships onto the blockchain. At the same time, because these social relationships are stored on open blockchain ledgers, it is equally important to protect users’ data privacy and limit the relationship data accessible to only credible developers. Founded in Canada in 2021, the UBA project has over 550,000 users across the globe.
UBA is an open collaborative infrastructure that allows web3 developers to build their SocialFi projects through tokenized social mapping data.
To achieve this, UBA sets up a dual token structure: EQUITY as the governance token and UBA as the basic token. The UBA token is a fair launch token that allows anyone to mine with a wallet or an IP address. Users are rewarded for teaming up and making referrals to bring their social connections onto the blockchain.
The social connection data is only retrievable by credible developers backed by the EQUITY token to protect on-chain user privacy. The EQUITY token is a governance and utility token, and the developers can stake EQUITY to access the on-chain social mapping data. Developers that make more requests would need to stake more EQUITY tokens. EQUITY token is also awarded to essential contributors in the UBA community and can be used to vote on DAO developments. UBA token can be staked to mine EQUITY.