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EXERCISE: :
i. Watch the above lesson video and also read through the recommended resources. Then, answer the following questions
ii. What Is Unlock Discount Token (UDT)?
iii. Summarize in your own word in this forum below:
(NOTE: please, don't just copy-paste from other students - instead answer in your own word based on your level of understanding the lesson and resources)
NOTE:
This Is An Exercise From Our FREE COURSE with CERTIFICATION:
(If you have not enrolled yet, you can join the course totally for FREE).
UDT is a reward token given to creators and users of the Unlock Protocol to grow the network and community of adopters and users
UDT is minted each time a valid purchase of membership NFT from Lock Smart Contract is recorded in ETH
UDT is inflationary (means has infinite token supply) but inflation is controlled by GDP
UDT is tradable on Exchanges like Uniswap (Decentralized Exchange)
It serves as the Unlock Protocol Governance Token
The official token of the Unlock Protocol
Use for Voting for Proposals by Unlock DAO
Also used to reward creators and early adopters integrating Unlock Protocol into their Platforms
Use for grants to further the growth of the Unlock protocol adoption
(dProgramming University got a grant to create this helpful course series - Unlock Protocol 101 and 201)
UDT is a token given to creators and users to promote, vote and serves as unlock protocol tools