Introducing the Jenny Metaverse DAO.
Jenny is the first Metaverse DAO to be built on Unicly. It will build one of the most amazing 1-of-1, collectively owned NFT collections in the world.
Jenny DAO members consists of some amazing NFT collectors, artists, creators, projects, funds, influencers, and talented individuals across the globe. The DAO will pool funds into the DAO’s treasury, which will be used to acquire NFTs for the uJENNY NFT collection. The initial roster for the DAO, along with its first NFT, will be announced in the coming days.
The DAO is planning to launch uJENNY on Unicly on approximately 2pm GMT on Thursday, May 13.
How Jenny Works
ELI5: Jenny is a decentralized organization that will buy NFTs over time to grow a collection through the Unicly protocol.
The specifics:
- All NFTs that Jenny DAO acquires will be a unique 1-of-1 piece that has never been minted into the market.
- Jenny DAO members (uJENNY token holders) will govern the DAO’s treasury, and decide on which NFTs to buy. The funds in the treasury will be used to acquire NFTs over time. The treasury will be controlled by a multi-sig smart contract.
- The Jenny DAO will use the decentralized Unicly protocol to mint the uJENNY token, a uToken on Unicly. The Jenny DAO’s NFT collection will be governed using the Unicly protocol’s smart contract. The holders of uJENNY tokens will gain social and governance rights to the Jenny DAO.
- All of the NFTs acquired by the DAO will be added to the uJENNY collection on Unicly.
- The NFT collection will be locked in the Unicly protocol’s smart contracts. As with any other uToken collection on Unicly, the NFTs will only be unlocked if enough uJENNY holders vote to unlock the collection. For the Jenny DAO’s collection, the threshold percentage for unlocking the collection will be set to 50%.
- Those who acquire enough uJENNY tokens will gain membership to the Jenny DAO, and gain access to all of the Jenny Community’s groups and channels.
- The Unicly community may at its own discretion offer to whitelist the uJENNY collection. If this occurs, Jenny DAO members will have the opportunity to provide liquidity and mine UNIC, the governance token of the Unicly protocol.
uJenny Tokenomics
Total Supply: 10M
Initial Community (36.6%): 3.66M
Dev (10%): 1M
Marketing (10%): 1M
Advisors (5%): 500K
Reserves (37.4%): 3.74M
Security Audits (1%): 100K
Vesting is a way to kick the can down the road. uJENNY tokens will be fully unlocked on day 1. If the uJENNY collection gets whitelisted, all DAO members can start liquidity mining UNIC immediately.
Why DAO?
We believe in the power of community. Building an NFT collection together will be better if we have more great minds working towards similar goals. As a community, we will also gain more exposure, and be able to build a higher quality collection, increasing our chances to get on Unicly’s whitelist.
Where did the name Jenny come from?
The inverted jenny is a collector’s dream. The image of the plane on the stamp was printed upside down, making it one of the rarest stamps to ever be created.
There will be a lot of similarities with this stamp and Jenny DAO’s NFTs. We want Jenny DAO’s NFT collection to be beautiful, rare, and coveted by the world. The difference is that we provide better accessibility. Through the DAO structure, we’ll be able to share ownership of this collection with everyone, even for those who may not be able to afford a whole NFT themselves.
Why Unicly?
Up until now, NFT fractionalization platforms have had some major design flaws or issues. Consequently, it was not attractive or practical for creators and collectors to put some of their most valuable NFTs into these platforms.
We were very excited when Unicly released its litepaper. It finally addressed everything that we were looking for. It was a protocol where we could build a massive Metaverse DAO like Jenny, long-term.
We also see the Unicly protocol as a foundational building block in the NFT infrastructure space, similar to how Compound and Uniswap kickstarted the DeFi ecosystem. We hope to have the uJENNY collection whitelisted by the Unicly community so that our DAO members can liquidity mine the UNIC token.
Next Steps
We will be announcing more details about the Jenny DAO over the next few days, along with the first NFT to be added to the uJENNY collection.
We will also let the community know as soon as the pool is created.
Don’t hesitate to reach out with any questions, and we look forward to meeting the future members of the Jenny DAO!
