What is Unicly? Unicly is a platform built on Ethereum that allows users to segment, split, and trade NFTs. Let’s find out what is special about this project with Weakhand in this article.
To understand more about the article, everyone can refer to the article about Quantix here.
What is Unicly?
Overview of Unicly
Unicly is a platform built on Ethereum that allows users to segment, split, and trade NFTs. Unicly combines AMM, NFT auctions, and farming to create the best NFT trading platform for users.
Unicly built by a community of NFT lovers and Defi enthusiasts, the protocol incentivizes NFT liquidity and provides a seamless trading experience for NFT assets.
Unicly’s mechanism of action
Unicly’s operating mechanism follows these steps:
Step 1: Anyone with NFTs can create Vaults. Vault creators will lock their NFTs and the platform will mint them uToken represents a locked NFT. They will add a few parameters to Vault such as: Allocation rate, auction activation price, …
Step 2: Users can deposit ETH into Vaults to purchase uTokens corresponding to the user’s stake in the Vault.
Step 3: If someone bids at the trigger price, an auction for that NFT will be triggered. The highest bidder will be the winner and all ETH collected will be redistributed to stake holders in the Vault.
What is the Unicly difference?
Currently Unicly is in version v2 with some special features such as:
- Users can withdraw their stake from the Vault at any time by swapping uToken to ETH.
- Users can provide liquidity to the uToken – ETH pool to receive transaction fees.
- Vault creators can deposit multiple NFTs into the same Vault.
Road Map
- Optimize user interface performance and improve platform stability.
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Integrating proxy trading capabilities into the interface, allows DAOs, guilds, and NFTs to fully utilize all the benefits associated with NFTs.
Core Team
Leia Fisher is one of the people who built Unicly from the very beginning.
Investor
November 28, 2021: Unicly announced the successful call for $10M from famous investment funds such as: Blockchain Capital, Animoca Brands, Ascensive Assets, 3Commas Capital, …
Tokenomics
Basic information about tokens
- Token Name: Unicly
- Ticker: UNIC
- Blockchain: Ethereum
- Contract: 0x94E0BAb2F6Ab1F19F4750E42d7349f2740513aD5
- Token Type: Utility, Governance
- Total Supply: 1,000,000 UNIC.
Token Allocation
Token Release
Each month, the minting rate of UNIC tokens will decrease by 5%, starting from a monthly mint amount of 50,000 UNIC.
Token Use Case
UNIC is a token used to:
- Vote on decisions on the platform.
- Used as a liquidity mining reward on Unicly
- Staking UNIC to receive xUNIC, 0.05% of the swap fee on Unicswap will be used to buyback UNIC and redistribute it to xUNIC. In addition, a portion of the farming reward will also be shared with xUNIC holders.
Exchanges
UNIC tokens can be traded on both DEX and CEX exchanges such as: Kucoin, MEXC, Unicly, …
Unicly Project Information Channel
- Website: https://www.unic.ly/
- Twitter: https://twitter.com/Filecoin
- Medium:
summary
Unicly is a platform aimed at adding liquidity to the NFT market. Unicly is also a piece of the puzzle that contributes to the diversity and growth of the NFT Finance market at the present time. Hopefully the information I provide in this article has helped people understand a bit about Unicly.