Proposal: Launch $oneUNI

Summary

Uniswap is one of the leading decentralized exchanges on Ethereum with over $6.3B in Total Value Locked. Their governance token, $UNI, provides liquidity rewards to users, voting rights in governance, and has a fully diluted market cap of over $26B.

$oneUNI will become the base asset for Uniswap liquidity pools. $515M $USDC and $181M $USDT are locked within Uniswap V3. $UNI is sold to mint $USDC and $USDT. The value locked is governed for the benefit of Centre and Tether.

$oneUNI will serve as an alternative stablecoin for use throughout Uniswap. The value locked is governed by $oneUNI holders for the benefit of the Uniswap community.

ICHI to:

1. Create $oneUNI, a. community coin with stable value, minted with $UNI and$USDC.
2. Provide 0.1 $ICHI per block to $oneUNI depositors in weeks 1-4 and 0.05 ICHI per block in weeks 5-8.
3. Create and submit a temperature check to the Uniswap community to provide support for $oneUNI.

Conditional on $UNI deposit after UNI vote:

1. Lower the minting ratio from 98% to 80%.
2. Triple liquidity rewards to 0.3 $ICHI per block if the Uniswap community votes to provide support.

Initial Minting Ratio: 98% $USDC, 2% $UNI

• Treasury must be at least 150% treasury reserve ratio when there are less than $1M $UNI in treasury.
• Treasury must be at least 200% treasury reserve ratio when there are $1M-$10M $UNI in treasury.
• Treasury must be at least 250% treasury reserve ratio when there are above $10M $UNI in treasury.
• Assets may be leveraged in ICHI strategies to generate yield.
• 80% of yield generated by ICHI strategies goes back into treasury, 10% to ICHI, and 10% to any affiliate (by default ICHI).

Initial Quorum and Governance Guidelines:

• ICHI community governance at launch
• 100 holders, none greater than 5% outstanding oneUNI, and 40+% quorum of deposited oneUNI is necessary to hold multisig elections