Unicly: The Fragmentation Solution for NFT

Unicly is the NFT fragmentation trading protocol for combining, splitting and trading NFTs.

Created by NFT collectors, DeFi enthusiasts, the protocol stimulates NFT liquidity and provides a seamless trading experience for NFT assets.

Unicly: The Fragmentation Solution for NFT

Unicly is a decentralized NFT protocol for combining, splitting and trading NFTs with guaranteed liquidity.

Unicly allows users to encapsulate any number of NFTs into a “uToken”, which is equivalent to ERC20ing an NFT collection.

Users can provide liquidity to enable price discovery of NFT fragments through the AMM model.

Data published by CryptoRank shows that the highest growth rate of unique users achieved on Ether in May was achieved by one NFT trading platform – Unicly, which achieved a 226% growth rate of unique users in May.

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

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

Unicly: The Fragmentation Solution for NFT

DeFi + NFT

This is the “DeFi flavored NFT trading platform”, if you are a DeFi fan, then you will feel familiar after reading this project.

NFT fragmentation protocol, simply put, is the shared ownership of digital assets, but of course there are some problems here, which is where the market is currently controversial, such as voting, incomplete ownership, etc.

Unicly: The Fragmentation Solution for NFT

Now let’s take a look at Unicly’s operation interface. Compared with well-known NFT trading platforms like Opensea and SuperRare, Unicly is more like Uniswap and Sushiswap.

About Uniswap, we have a specific analysis in our public website, if you want to know, you can read: “What kind of future does Uniswap foretell for DeFi after the market turmoil?

Unicly combines AMM, NFT auctions, farming and decentralized governance in an attempt to bring together collectors, investors, artists/designers/creators and traders, among others.

Unicly was founded by an individual named Leia Fisher, who is a programmer and also draws, an all-rounder.

There are no investors behind Unicly either. Leia Fisher has designed the mechanism to allow anyone to claim and pledge UNICs, by providing liquidity and pledging LP TOKEN to earn UNICs, which will be distributed to LP TOKEN pledgers in each block.

The supply of UNICs will be infinitely close to 1 million, but inflation will cause it to drop month by month. 90% of this supply would be mined by the community and 10% would go to the developers.

Unicly: The Fragmentation Solution for NFT

How do I get a Unic?

First of all, artists or collectors upload NFT works and create a collection for them, each fragment corresponds to a uToken of the corresponding work collection.

To get UNIC, you need to have uTokens, and then exchange these uTokens for Unicly LP, which means you become an LP, and then use these Unicly LP to benefit from the collateral.

Unicly originally set to start Yield Farming in April this year, but the official announced that they decided to delay Yield Farming in order to improve the community demand.

Therefore, Unicly did not officially start Yield Farming until May 18, when the block height reached 12458975.

Before starting mining, Unicly officially announced that the TVL had reached $50 million, which made the TVL close to $60 million at one point.

On May 21, DappRadar claimed that the largest market for NFT was Unicly, which had a 24-hour volume of $4.6 million. This compares to $1.4 million and $100,000 for Opensea and SuperRare, respectively.

Very different from Opensea and SuperRare, the TVL volume above Unicly has been consistently around $50 million.

Unicly: The Fragmentation Solution for NFT

The following are the more popular NFT pooled assets above Unicly.

Unicly: The Fragmentation Solution for NFT

Unic is already available on Coingekco at a price. The price for a single UNIC costs almost $400.

Unicly’s 2021 Roadmap

2021 Q2:

  1. Financial NFTs fragmentation.
  2. Pointsmining.
  3. Establish more uToken collections and partnerships.

2021 Q3:

  1. Borrowing and lending through uToken.
  2. Adopt Layer 2 solution (Polygon, BSC).
  3. Establish more uToken collections and partnerships.

2021 Q4:

1.Unicly v2 version – fully upgrade the protocol.

  1. Establish more uToken collections and partnerships.
Unicly: The Fragmentation Solution for NFT

The DAO organization behind it

Unicly’s rapid growth made it stand out in May, and it couldn’t have been possible without the organization called Jenny DAO.

Jenny’s TOKEN (uJENNY) is a dual-purpose ERC-20 TOKEN, slice TOKEN and governance TOKEN that are cast on the Unicly protocol.

Jenny DAO is responsible for acquiring NFTs and adding them to the vault controlled by the Unicly protocol’s smart contracts.

These NFTs can only be released if the consenting uJENNY holder reaches a certain threshold and instructs the smart contract to unlock the vault.

In addition, uJENNY holders will have governance rights over key decisions made by Jenny DAO. This right is exercised primarily through direct voting and the designation of multiple signatories in the DAO’s finance department.

A portion of the funds raised by the DAO through the sale of uJENNY will be used to acquire NFT and will be transferred to the DAO and controlled by the community.

The DAO will be called the “Jenny DAO” and they will be kept in a multi-signature wallet controlled by key members of the Jenny community.

Unicly: The Fragmentation Solution for NFT

JennyDAO’s logo

JennyDAO on Unicly uJENNY offers TOKEN holders an ownership share of the 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 by Peiter Hergert.

Unicly: The Fragmentation Solution for NFT

Jenny Metaverse DAO became the #1 market cap and #1 liquidity NFT collection on the Unicly platform with a market cap of approximately $22.36 million and liquidity of approximately $10.47 million.

Unicly: The Fragmentation Solution for NFT

What are the competitive advantages of Unicly?

1, Allows sharding of multiple NFT collections on different smart contracts (ERC-721 or ERC-1155s).

2、Each NFT shard is unique and irreplaceable.

  1. Collectors are allowed to bid against specific NFT fragments without having to buy the complete NFT.
  2. All NFT shards are equal, and no random assignment of rewards is taken.

5、Shard holders and uToken holders are both equally entitled to the proceeds of NFT sales.

6、Allows shard holders to accept bids by voting on shards, rather than forcing them to accept.

  1. Eliminate the impact of NFT collection devaluation through flexible inventory turnover.
  2. Reward the best NFT collection contributors by governing TOKEN UNIC’s Yield Farming.

Unicly will consider some Layer 2 solutions to reduce fees, will take polygon solution, which is already in our roadmap planning.

Unicly: The Fragmentation Solution for NFT

Unicly has a very interesting feature where people can bid on a single NFT in a collection and get ownership of it once it exceeds 50% of its value.

People can bid on individual NFTs and uToken holders decide if the total value of the bids is appropriate and if so, they can vote to unlock the collection.

So does the fragmentation of NFTs really help improve liquidity? Or is it really necessary for it to exist?

Some might argue that fragmentation doesn’t “really” make liquidity better, it only makes it possible for more people to own assets.

These people don’t have as much money to own a complete work, because the price of the artwork itself is related to the average price of other artworks on the secondary market.

The average price is unlikely to change until the artwork is traded again, and this matter will be reflected in the “utoken”. The price of the utoken will not change much, or should not change much in the short term.

The main purpose of Unicly is to allow community members and users to own a part of their favorite collection without having to pay a high price.

Fragmentation will allow everyone to trade at a lower price point and gain ownership of NFTs. This technology is still in its early stages, but it will continue to evolve.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/unicly-the-fragmentation-solution-for-nft/
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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