We’re at the final stretch of the Unicly fair launch. The UNIC token will get released via liquidity mining starting at Ethereum Block Height 12,458,975 — approximately 2pm UTC on Tues (May 18). The following are some additional details.
Liquidity Mining Start Block
The moment we have all been waiting for is right around the corner!
UNIC liquidity mining will start at exactly block 12,458,975 on Ethereum mainnet. We estimate that this will occur at around 2pm UTC on Tuesday (May 18), but note that it may happen earlier or later depending on block time.
UNIC Reward Weights
Today, we had a long debate within the Unicly Community Telegram group around the reward weights for the currently whitelisted pools.
In the beginning, I was worried to see our community members arguing. Over the last few weeks, I’ve gotten very attached to the Unicly community, and I didn’t know how to react to it at first.
After reflecting over the chat logs again and again, I’ve come to realize that these arguments were actually necessary. Criticism and feedback is what helps us improve and come up with better solutions. It’s what’s brought us this far. Friends fight but this makes them stronger.
Thank you Rei, Coderdan, Cactus, Sunset, uJordan, Benjamin, Castra, Akira, and everyone for sharing your opinions passionately. It shows that you really care, about the ecosystem and believe that there’s potential in this ecosystem.
Instead of going on a sentimental run any longer, let me share my thoughts and proposal on moving forward. I will be sharing this in the Telegram chat so that we can discuss it further.
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Proposal:
- Let’s stick to the reward weighting that the community agreed on across multiple iterations of discussions and AMAs: https://medium.com/unicly/unic-reward-weights-78dcffd64e80
We got to these rules and weightings as a community early on so that collection creators would know what to expect and prepare for. Changing the rules now right before launch would be unfair.
2. The floor price indicates all “NFTs”. I agree that a pool of cash set aside to buy NFTs does not equate to the NFTs themselves.
Unicly is a NFT fractionalization protocol trying to build liquidity for NFTs, and we want to reward those that participate in doing so. If collections add more NFTs in the future, the NAV can be re-calculated at that point.
Yes, this would mean that collections like uJENNY, uMASK, uPUNK, uAXIE, uBEEPLE, uGLYPH, uJORDAN, and any other collection that promised to add more NFTs with their reserves won’t be getting extra points on floor price until the NFTs actually get added.
3. A uToken collection must have at least one NFT in it to qualify for rewards. This was a great point mentioned by the community, and I agree with it. For example, if the Jenny Metaverse DAO’s collection doesn’t even have at least one NFT by Tuesday, they will unfortunately have to miss the start of liquidity mining.
4. I agree that there could be some sort of a cap on the amount of rewards a single collection can get. It’s hard to arbitrarily come up with a number, and there may be a lot of variables I might not be thinking about right now.
Running through the math using the UNIC reward weighting criteria above and the current onchain data for the whitelisted collections, there shouldn’t really be any red flags yet.
Sorry to pick on you guys, but the biggest concern was having too much power going to the Jenny Metaverse DAO. The uJENNY collection will likely have something along the lines of the following.
Floor Price: (100,000 / 5,000,000) * 45= 0.9
Liquidity: (23,536,021.58 / 33,747,103.41) * 31= 21.62
Market Cap: (50,000,000 / 100,000,000) * 11 = 5.5
Volume: (15,000,000 / 25,000,000) * 10 = 6
Holders: (600 / 2500) * 3 = 0.72
This amounts to a total of 34.74% of rewards. This is more or less an estimate, but I think uJENNY’s total reward share will be in the range of 30–40% at the final snapshot. It is large, but some of the other top collections will come close to these numbers. I think it’s fair to stick to the criteria that we came up with as a community, and assign these points accordingly.
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I know that a lot of the times, I need to step up to help guide the community. I’m sorry that I have not been the best I could be at this role. I am learning from you guys as we go, and I hope that I can get better to help support the ecosystem over time.
Looking forward to everyone’s feedback! Honestly, love y’all.
