UXP DAO | Community Handover

The path to a fully community owned and governed DEX

Ura Dex

Ura remains a fully functional DEX, while being compatible with the Alliance mechanism. Permissionless pool creation will be deployed soon. Ura will be the only fully community owned and autonomously-governed Terra DEX. Its future and success will be fully entrusted to the community.

$URA

The entirety of $URA tokens will be allocated to community members who participated in Ura’s Phase 1 through the following means.

$UXP, a new DAO governance token will be introduced with a total supply of 10M, and can be claimed via Coinhall’s Genie protocol. $UXP allocation is pro rated based on every wallets’ XP amount which will be snapshotted at the end of Phase 1, on 15 May 2024. i.e. A wallet with 1% of total XP will receive 1% of the total supply of $UXP. There will be introduction of a new retroactive XP criteria, where 20% of the XP supply will be distributed based on the 180D time-weighted holding of the $URA token (including URA-LUNA LP holders), accommodating for $URA token holders, who believed in the project, to also participate in governance.

UXP was distributed via a Genie campaign.

UXP DAO will be set up via Enterprise where $UXP holders can collectively decide the future of the token. 95% of the total supply (9.5M) of liquid $URA tokens will be transferred to UXP DAO.

UXP DAO is live. Stake and govern UXP DAO on Enterprise.

There is currently 4.61% (0.461M) of the total supply which is in possession of the TFL liquidity multisig (source). The remaining 0.39% are in circulation, some held by wallets, and some pooled as liquidity. The Ura team will retain 0 $URA and 0 $UXP allocation.

$UXP holders will have full autonomy, with some possibilities.

A) Strike deals with $LUNA stakers for exchanging $URA with assets from the Terra community pool.

B) Strike deals with protocols for protocol owned liquidity.

C) Fully unlock $URA to be distributed instantly.

Ura Team Transition

Ownership of $URA tokens and DEX contracts will be decentralized to the community. We will maintain the current ura.xyz frontend for the near future to minimize disruption, while the community puts together a new team and leadership, and hosts a new webapp.