Unicly Genesis Blog Post
Unicly is an NFT fractionalization platform. Buying NFTs is laborious and we hope to make it easier for people to swap them in projects that they love, as if they were liquid tokens. Fungible tokens may have thousands of buyers and sellers, but every NFT transaction depends on matching a single buyer and a single seller, which leads to low liquidity. In addition, many users are being priced out of some of the most desirable items, leading to more concentrated ownership and pent-up demand. As a result the NFT space is experiencing accessibility issues. Fractionalization allows more people to trade NFTs at lower price points, enabling more of us to have ownership of even the most coveted NFTs.
There have been a few early efforts to fractionalize NFTs and we have learned a lot from them. Through Unicly, we aim to solve the existing problems, and provide a decentralized and permissionless protocol to combine, fractionalize, and trade NFTs with guaranteed liquidity.
How Unicly is Different:
Unicly’s key attributes will include the following.
- Enabling sharding of collections containing multiple NFTs across different smart contracts (ERC-721 and/or ERC-1155s).
- Treating every NFT within a sharded collection as a unique, irreplaceable item.
- Allowing collectors to bid for specific NFTs rather than entire collections.
- Treat all shards equally and never rely on randomization of reward distributions.
- Sharing the proceeds from NFT disposals equally between all shard holders (or uToken holders).
- Allowing shard holders to accept bids by voting with their shards as opposed to forcing them to counterbid.
- Eliminating incentives for NFT collections to depreciate through selective inventory churning.
- Rewarding contributors of the best NFT collections through liquidity mining of the UNIC governance token.
Unicly will be governed by the UNIC token. There has been no private sale and there never will be one. 10% of tokens will go to the development team as they get minted over time. The remaining 90% will only be available through liquidity mining. Whitelisted NFT collections will receive UNIC rewards through the staking of their shards into the relevant liquidity pool. UNIC token holders will have the ability to vote on future pool whitelistings. And of course we need to have some fun — Unicly will also host yield farming and liquidity mining pools for UNIC holders. We aim to make this a a truly community governed launch where the platform is governed by the governance token from day-1.
Are U ready to shard?!
Creating greater access to NFTs is an endeavour worth undertaking. Join us in cracking this case and unlocking mass adoption of digital property!
How to Learn More:
We plan to launch mainnet over the next couple of weeks. In the meantime, feel free to reach out!