Unicly (UNIC) Review
Unicly is a community-led protocol that allows NFTs to be combined, fractionalized, and traded. Constructed by NFT collectors and DeFi fans, the protocol promotes NFT liquidity and offers a smooth commercial experience for NFT assets via the introduction of AMMs and yield farming in the NFT market.
Fractionalisation enables more individuals to trade NFTs at cheaper prices. It also allows casual investors to purchase modest quantities of liquid tokens in NFT projects they want to. This implies that more of us can own even the most sought after NFTs.
Unicly is a new platform to issue tokens for Uniswap, the world’s biggest non-financial asset trading marketplace. It seeks to recruit and encourage all participants in the broader blockchain ecosystem to get involved in the NFT ecosystem. High liquidity for traders and casual investors in a familiar AMM format. In the meantime, yield growers are encouraged to win cash incentives.
How The Unicly Platform Works
The Unicly Protocol overcomes the aforementioned problems with the following important characteristics: Enabling Collections of several NFTs (ERC-721 and/or ERC-1155s) Treating each NFT as a unique and valuable product in a sharded collection. Eliminating incentives to devalue NFT collections via selective churning of stock. Allow shard holders to accept offers via voting with shards rather than counterbalancing them.
Anyone who has NFTs has the ability to construct their own uToken, which symbolizes a collection or bundle of NFTs in their possession. It enables users to deposit and lock any amount of ERC-721 and/or Erc-1155 NFTs into the smart contract, allowing them to create a private key. Users may personalize their uToken by customizing the name, ticker symbol, total supply, description, and percentage of the uToken required in order to vote to unlock the tokens they want to use.
How The Buying Process Works
The uToken information is accessible to the general public, but users may only access it by clicking on the URL of the collection that they are interested in. Once they have found the NFT they wish to buy, they simply need to make a bid. Should another bidder outbid the current highest bidder, the current highest bidder has the option to unbid and bid higher soon thereafter. Winners will be able to collect their NFTs right away.
How The uToken Governance Works
Holders of uTokens have the power to vote on whether or not to unlock the collection. As soon as a sufficient proportion of the entire uToken supply has voted in favor of unlocking, the NFTs are allocated to the highest-bidding participants. The pooled ETH bids for the whole collection (at the moment of unlocking) may be collected in proportion to the number of uTokens held by the collection’s holders.
Putting Creators First
UToken is a system that enables uToken creators to deposit more NFTs even after issuing the uToken. It is designed to make it easier for people to use cryptocurrency. This may be used by the UToken maker in order to increase the value of the UToken created. For individual uToken communities, the functionality also opens the door to novel governance structures that are both innovative and practical.
How UnicSwap Works
In a twist on the traditional AMM paradigm, UnicSwap offers on-chain liquidity for NFTs, allowing them to trade more freely (in the form of uTokens). To do so, it makes use of ERC-20 LP (liquidity provider) tokens, which may be staked straight into UnicFarm and used for agricultural purposes.
Users may create new pairings, supply liquidity, and switch between pairs by logging onto their accounts. UnicSwap charges a fee of 0.25 percent of total trading volume, which is then allocated to liquidity providers for the swap pair in question. To ensure that the UNIC token is automatically purchased back on a regular basis, an extra 0.05 percent of transaction volume is collected in fees.
How To Earn Free UNIC Tokens
For LP token holders in whitelisted pools, the farm provides an opportunity to earn UNIC by putting their LP tokens at risk. This is comparable to the farming technique used by Sushiswap. In order to get these LP tokens, one must offer liquidity for whitelisting pools on UnicSwap, which is a requirement for acquiring these LP tokens. The yield is derived from the UNIC that was purchased back by the holder.
Projects Linked To Unicly
Unicly Aavegotchi Astronauts Collection (UGOTCHI)
- An extension of the Unicly collections.
Unicly Hashmasks Collection (UMASK)
- This is the most complete and comprehensive collection of hashmasks, which includes unique and exceptionally uncommon variants.
Unicly Genesis Collection (UUNICLY)
- 0xLeia’s Genesis Unicly NFT Collection. This is the first Unicly uToken collection that includes Unicly NFTs before launch.
Unicly Chris McCann Collection (UCM)
- This award-winning photo series, the Genesis Collection, was created by National Geographic photographer Chris McCann.
Unicly Doki Doki Collection (UDOKI)
- A steadily expanding array of officially recognized Doki Doki NFTs This one-of-a-kind NFT platform includes Gachapon machines, digital art, and collectibles, all of which are complemented by the optional feature of DeFi staking.
Sadly, it will be completely controlled by the members of the community. On the platform, there will be a voting site where holders of UNIC tokens will be able to cast their votes for ideas. All governance will take place in an open and transparent manner on the blockchain. Following the first deployments and launch of Unicly’s smart contracts, the contracts will be permissionless and community-owned.
Further Unicly Information
- Price $10.46
- Market Cap