Unicly allows new Locking Mechanism for xUNIC holders
In the past few months, we’ve seen huge interest and love from our supporters who actively use the Unicly platform. Since we’ve launched, we have added 25 whitelisted collections to the platform and have maintained $53 million of liquidity as we have grown. Truly amazing!
Until now, the only way to gain rewards for believing in the long-term vision of the protocol was to stake your UNIC and convert it to xUNIC. This was a great solution that allowed many people to get in on the action. With the addition of an xUNIC faucet, we all got to see the ratio of UNIC to xUNIC reach 1.4440 in just a few months. I know all of the UNIC hodlers are super happy with that 😁.
Today, we are introducing a new way to reward our long-term holders. We call it Advanced Staking. This new feature allows you to lock up your UNIC tokens and get either UNIC or a uToken of your choosing back in return. This means that on top of the gains you will get from hodling your xUNIC, you will get additional rewards by simply locking up your tokens.
All of the features we have introduced and the ones we will introduce in the future (new ones soon to come 😉) are all done to help out our community. Prior to this feature, there was really no way to incentivize people to hold UNIC for long periods of time. While we had staking to xUNIC, it wasn’t really an optimal solution because it could be converted back to UNIC at any point in time. Advanced staking is the solution that we have been looking for.
We also know that uToken collection creators want to interact with their community more and give them the ability to invest in their chosen collection for the long-term. While we hope people will stake their xUNIC towards UNIC, we also want our uPunk, uJenny, and uDoge hodlers all to have the option of getting extra rewards, too!