Unique.vc AMA Recap

24 Aug 202204:08

AMA

Unique.vc AMA Recap

Alex Migitko ♢

hi everyone, thanks for having me!

Denis (CryptoDiffer)

Welcome, thank you for taking your time today!
Our team has prepared some questions for you to start with:
Let`s start with the introduction !
Q1: Can you introduce yourself to our community?

Alex Migitko ♢

My name is Alex, I’m a co-founder at Unique.VC, otherwise - entrepreneur, over 16 years in IT, in blockchain since 2016, both crypto and enterprise.
In Unique.vc, i’m the CEO and also I’m leading product development, basically coming up with ideas, trying to figure out what’s best for the users of our platform.

Denis (CryptoDiffer)

Q2: Can you introduce Unique VC to us?

Alex Migitko ♢

Unique VC is a platform that allows people to create Venture Clubs - as the name suggests. Those are on-chain organizations with flexible governance focused on the financial aspect of collaboration - owning and managing assets as a group.
In many cases, it’s not just about the money, but the knowledge and time you need to efficiently operate those assets. Simple example - NFTs. It’s hard to follow the market on your own, with all the mints, trends, and innovations happening in the space, so you see a lot of “alpha” groups arising that share the information.
With Unique, you can do much more than that - put funds in the common treasury, assign different roles to people, diversify the assets, distribute revenue, and so on.

Denis (CryptoDiffer)

Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

Alex Migitko ♢

We’ve been building Unique for about a year now, mostly under the radar. However recently we have launched a devnet open beta, so anyone can join and try it out at beta.unique.vc
In this yeat we have also grown our team to 20+ people across all departments - development, marketing, community, and operations.
Officially we will launch on mainnet in July. We are planning to add much more features as we progress through the devnet beta, so stay tuned!
Our short-term goal is to release in Q3 a version that will probably be the most feature-rich DAO platform across all chains. That’s a pretty serious goal as, again, a lot of tools, platforms, and projects are popping up, but we are committed to our goal.

Denis (CryptoDiffer)

Thank you for such detailed and interesting answers!
It is time to move to the community questions part.
Let's remind AMA rules to the community😊

❗️ AMA structure and rules: 👥

- Community questions part starts after the guest/guests finishes/finish answering the introduction questions asked by the moderator. Moderator unmutes the chat to allow up to 100 messages and mute it.
- Each person is allowed to write only one message containing 2 questions, violators will be disqualified from participating in the reward distribution.
- Copy-pasted questions from previous AMAs are strictly forbidden, violators will be disqualified from participating in the reward distribution.
- All questions&concerns regarding AMA members should send in dm to @cryptodiffer_admin
- Important, please don`t write to other CryptoDiffer team members, they won`t be able to help you.
- Winners are chosen by Guests.
I will open the chat at 2:11 UTC, check exact time on time.is
Chat is muted! Thank you for your questions, everyone!
Alex Migitko|CEO|@migitko,please choose the questions you like and answer them! If you wish to have additional rounds, just let me know

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Explain to us the greatest barrier in the creation of an efficient and successful DAO ?

Why did you choose to build your platform on Solana

@migitko ecosystem?

Alex Migitko ♢

We have talked a lot to various DAOs over the last year and most of them have similar issues. First one is governance fatigue - basically people get tired of participating in any type of voting and don’t really want to engage which results in DAOs being unable to operate at all. To help resolve that we introduced role system where people actively participating in governance can have greater voting power, and separated trading configuration so that operational actions like sniping an NFT can be done with minimal voting or without voting at all within a specific amount, for example up to $100.
We are building on Solana because it does have a great ecosystem, but also the number of tools is constantly growing, and of course fast and cost-efficient blockchain sounds great for a platform which requires a lot of user activity

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We recognize that more education is needed for greater adoption and more efficient use of crypto. I read that you're also going to create a "Unique Academy" that will focus on educating people about the platform and DAOs in general. What stage are you currently at regarding the creation of this academy and what are your plans for training?

Alex Migitko ♢

It’s progressing really well, and we will be releasing it around the same time as our mainnet version. On one hand we want to make it a great source of information related to our platform and DAOs in general, but also to make it a place where we will be hosting various webinars and other events for community members and successful clubs to share their knowledge and experience. This space is constantly evolving and providign “static” knowledge is definitely not enough

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Are there different NFT Based Clubs Based on the Specific NFT Collections?
Can Any NFT Holders Join the NFT based Club?

Thank You

Alex Migitko ♢

Anyone can open a Club based on a specific collection, you don’t even need to have an NFT from the said collection. And then anyone having an NFT from that collection can join it. We are really curious about that use case as we expect to even have competing clubs for some collections - that would be really exciting

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☮️
I understand that all the treasury wallets of ventures clubs on Unique.vc should be multi-sig wallets. In this case, what's the minimum number of people that constitute the quorum for managing the treasury's assets? Can a club founder choose any number of people to make up to quorum or is there a default number of people that are allowed to make up any quorum on Unique.vc?

Alex Migitko ♢

We are keeping it flexible and up for the founder to decide. There is no requirement for quorum - only for the percantage of votes, which again is a flexible thing and depends on the way you have configured your club. And whenever a new person joins some club they will need to accept those rules - a configuration of the specific club. Because if you see that club’s founder has a majority voting power in all cases and you don’t have trust for that person - probably you don’t want to be a member of such a club. But if you are creating a club with someone you know - why not? So, clearly, one size doesn’t fit all, and we are doing our best to provide that flexibility

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I observed that currently only USDC and SOL are the two tokens allowed in the Club. Do you have plans of allowing more tokens in the future?

Regarding the platform fee, will it continue to remain the same or club founders/members have control over such decisions? Can they vote to lower the fee?

Alex Migitko ♢

We will be allowing much more tokens for treasury deposits, basically allowing any Solana token to be used. As for the fees - there are some of them that cannot be avoided, basically Solana’s network fees, similar to gas. Other than that in future we will be adding tools to configure in-club fees that can be used to reward club’s management

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The game guilds are one of key users of the Unique platform. But why do you think they are needed in the ecosystem and how does the Unique ecosystem benefit from the guilds?

Alex Migitko ♢

Well gaming guild have definitely become big players in NFT and generally crypto space, and they do hold a lot of assets. What they need besides same ability to own assets as a group is an option to rent those assets to other people while retaining control over it. We have some ideas how to do that and once done it can become quite a gamechanger for those guilds

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Regarding the Value Proposal of the VCs, I read that the one for “Real World Assets” is under development. Is there an ETA for the launch of this option? For this variant of VC (despite being on IRL assets) does it also use integration with blockchain technology for governance functions, distribution of profits, etc?

Alex Migitko ♢

Yeah it’s basically like a DAO owning for example real estate. And there are legal frameworks allowing to do that with a complete on-chain governance and trades just like we already have them, and since all ownership related documents can be minted as an NFT and that can actually have legal power - its perfectly possible. In this case it’s not even that much about development - we have pretty much everything covered there - but about the legal wrapper required. And that’s the direction we are working in

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I love the idea and concept behind Unique VC, but I need some clarification. In your article, you stated that funds are automatically distributed to all members according to their contribution. Is the distribution process done by a smart contract?
How do you determine the percentage each investor get or will a DAO be set up for that?
@migitko

Alex Migitko ♢

We have seprated voting rights and financial rights (ownership) so they don’t need to be the same. Overall, if you have contributed 10% of the entire amount raised by a specific treasury that means you essentially own 10% of said treasury and are eligeble to claim 10% of that at any moment. Or even resell it at a higher price, who knows. But that doesn’t have to mean you have 10% voting power over desicions related to that treasury - can be less, can be more.

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Who can create a club on Unique.vc? Will it still be possible to join existing clubs after creating a club? How different is the club on Unique with NFT-based clubs?

Alex Migitko ♢

anyone can create a club, there’s no limitation to it. but your club needs to be attractive to the users for them to join, so club founder needs to prove he can do a great job within some area that is interesting to those users. and you can join any clubs even if you are a founder, of course - we definitely encourage that.

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🟢 Is it necessary to reveal our identity within the Venture Clubs? Will investors' privacy always be maintained? Or will these features be configurable according to the needs of each club? Some clubs may even require KYC?

Alex Migitko ♢

some clubs may require KYC for sure depending on their preferences, types of assets they are operating, and jurisdiction. again, for us it is important to provide tools for different use cases, it’s up to clubs to see what fits them best

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In Anyway,
Can Two Clubs Come in Contact with eachother to raise Funds ?
Is it Possible?

Alex Migitko ♢

that’s a great question - it will not be possible in the first stage, but in a later one - yes, definitely. clubs will be able to invest in NFTs, fungible tokens, real world assets, and other clubs
That would be it. Great questions, thank you so much!

Denis (CryptoDiffer)

Thanks for your time
Thank you to everyone who took part!