Behind Unicly’s Growth: How DAO Organizations Made NFT Trading Leader

Data released by CryptoRank shows that the highest growth rate of unique users achieved in May on Ether is an NFT trading platform, other than that, the other four are DeFi projects – Unicly achieved a 226% growth rate of unique users in May, which looks like a good achievement.

Behind Unicly's Growth: How DAO Organizations Made NFT Trading Leader

According to CryptoRank, the highest growth rate of unique users in May was achieved by an NFT trading platform, and the other four are DeFi projects – Unicly achieved 226% growth rate of unique users in May, which looks like a good result.

It may not be as well known as Opensea or SuperRare right now, but MultiCoin Capital partner Mable Jiang and Managing Partner Andrew Steinwold are both interested in it.

Fragmented NFT itself is nothing new, but the DAO organization behind Unicly’s growth may shed some new light.

DeFi flavored NFT trading platform
If you are a DeFi enthusiast, you will find the recipe familiar after reading this project.

NFT fragmentation protocol simply means shared ownership of digital assets, of course there will be some problems here and where the market is currently controversial, such as voting, incomplete ownership, etc.

Take a look at Unicly’s interface. More like Uniswap and Sushiswap than well-known NFT trading platforms like Opensea and SuperRare, Unicly combines AMM, NFT auctions, farming and decentralized governance in an attempt to bring collectors, investors, artists/designers/creators, traders, farmers, etc. come together.

Unicly was founded by an individual named Leia Fisher, a programmer who also draws and is an all-rounder. there are no investors behind Unicly either, Leia Fisher designed the mechanism to allow anyone to claim, pledge UNICs, earn UNICs by providing liquidity and pledging LP tokens, which will be minted to each block’s LP token pledgee – Unicly turns on liquidity mining for UNICs that will have the highest minting rate.

The supply of Unic will be infinitely close to 1 million, but with inflation decreasing month by month, 90% of the supply will be mined by the community and 10% will go to the developers.

So how can you get Unic? First of all, artists or collectors will upload NFT works and create a collection for them, each fragment corresponds to a uToken of the corresponding work collection. uToken is needed to get UNIC, then exchange these uToken for Unicly LP, which means you become LP, and then use these Unicly LP to pledge Mining will be fine.

In this way, Unicly does look like a counterfeit version of Sushiswap, and Unicly does thank the creator of Sushiswap, Chef NOMI, on its official website ……

Unicly was originally set to start liquidity mining in April this year, but officials claimed that they decided to delay liquidity mining in order to improve community demand until May 18 (Beijing time), when the block height reached 12458975, Unicly officially started liquidity mining. Before the start of mining, Unicly officially announced that the TVL had reached $50 million, and after the start of mining the TVL was once close to $60 million, which is small compared to some well-known DEX projects. However, there are some unexpected factors here, except that the NFT trading market is still relatively niche at the moment, and Unicly encountered a cryptocurrency plunge right after the start of liquidity mining.

On the bright side, as the cryptocurrency market gradually improved from the crash, Unicly naturally caught on. on May 21, DappRadar claimed that the largest market for NFT was Unicly, whose 24-hour trading volume reached $4.6 million, compared to $1.4 million and $100,000 for Opensea and SuperRare, respectively.

These numbers didn’t continue to hold, however, and after the 28th, the volume on the platform began to shrink rapidly, much unlike Opensea and SuperRare, but the TVL volume on top of Unicly continued to remain around $50 million.

Behind Unicly's Growth: How DAO Organizations Made NFT Trading Leader
Behind Unicly's Growth: How DAO Organizations Made NFT Trading Leader

Maybe people prefer to mine on Unicly!

The following are the more popular NFT pool assets on Unicly.

Behind Unicly's Growth: How DAO Organizations Made NFT Trading Leader

Unic is already available for price on Coingekco. Individual UNICs are pretty expensive, and although they have plummeted nearly 50% in the last 7 days, they still cost nearly $400 each.

The DAO organization behind it
Unicly’s rapid growth and standing out in May can’t be achieved without an organization called JennyDAO.

The organization has an official website introducing itself as the first DAO organization and social token on Unicly.

The Jenny token (uJENNY) is a dual-purpose ERC-20 token, fractional token and governance token that will be minted on the Unicly protocol.

The DAO is responsible for acquiring NFTs and adding them to a vault controlled by the Unicly protocol’s smart contract. These NFTs can only be released if the consenting Jenny Token holder reaches a certain threshold and instructs the smart contract to unlock the vault. in addition, the Jenny Token holder will have governance rights over key decisions made by the Jenny DAO. This right is exercised primarily through direct voting and the designation of multiple signatories in the DAO’s finance department.

The DAO will be known as the “Jenny DAO”. They will be kept in a multi-signature wallet controlled by key members of the Jenny community.

Behind Unicly's Growth: How DAO Organizations Made NFT Trading Leader

The JennyDAO logo

(24-cent U.S. postage stamp “Inverted Jenny” first issued on May 10, 1918)

JennyDAO’s uJENNY token on Unicly provides token holders with a share of ownership of artwork in the DAO vault. The first artwork is a song called Jenny, created by world-renowned EDM producer Steve Aoki and 3LAU, with visuals created by Peiter Hergert.

Behind Unicly's Growth: How DAO Organizations Made NFT Trading Leader

Jenny Metaverse DAO became the number one NFT collection on Unicly’s platform in terms of market cap and liquidity, with a market cap of about $22.36 million and liquidity of about $10.47 million. Jenny Metaverse DAO was also only 2,000 followers short of Unicly in terms of the number of followers driving it on the platform.

Behind Unicly's Growth: How DAO Organizations Made NFT Trading Leader

Interesting? A bunch of fanatical community members! This deserves to be taken as a lesson.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/behind-uniclys-growth-how-dao-organizations-made-nft-trading-leader/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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