Unique.Fans Tokenomics Governance
The Vision for Unique.Fans
Unique.Fans is a space where creators can develop a more intimate relationship with fans who have the freedom to support the artists they care about by becoming investors in the art they appreciate.
Networks and followings can be built-in peace without the fear of a centralised authority imposing subjective judgments on what is or what is not art.
The blockchain also provides innovative ways for NSFW artists to protect against theft — a huge problem in the erotic art space — where stolen pornographic content is disseminated by illicit aggregators.
NFT artists who mint their works on-chain before any other online exposure have the opportunity to create an archive of provenance.
They can also elect to protect their work from copyright infringement on-platform using watermarks — only releasing the original image as upon purchase as unlockable content.
Unique Fans will be a decentralised dedicated NSFW NFT Arts Marketplace Governed by a DAO.
All $FANS holders are eligible to vote on DAO proposals.
Introducing $FANS
$FANS is a token created on Ethereum to govern the ecosystem of the Unique.Fans platform. There will only be a maximum of 1M $FANS tokens ever minted.
$FANS token represents being part of the Unique.Fans family. HODL-ers get special privileges.
- Ability to vote on governance decisions
- Ability to vote in contests
- Ability to mine $FANS as a liquidity provider
Fixed Total Supply Token Model — Only 1M $FANS tokens will ever be created. 100% of any platform fees are used to buy back $FANS from the market burn $FANS adding value for token holders.
$FANS Emission Schedule
Upon the Unique.Fans project launch in April, 260k $FANS tokens were released into circulation, followed by the distribution of 90k $FANS rewards which have been distributed to $RARE and $FANS LPs over the course of the first 90 day period.
130k $FANS will be released each year for five years until the total supply of 1M $FANS tokens are in circulation.
Non-Profit
Unique.Fans is a permissionless NSFW NFT platform with the same ethos as Unique.One — A platform for the community by the community. The volunteer founding Unique fans team received no $FANS tokens.
Net-Zero Fee
No Fees for Artists. For collectors/buyers the Unique.Fans platform charges a 2.5% fee which is used to buy back $FANS from the market and burn to reduce the circulating supply to create value for $FANS token Hodlers.
Rewards on Unique.Fans
More than 40% of the $FANS token supply is reserved for rewarding the active Unique.Fans Community and Liquidity Providers.
All activities on the platform — Creating, Selling, Buying — earn $FANS Tokens, in addition to LP providers.
On-Platform Rewards
On-platform rewards are designed to mitigate gas fees for on-chain transactions and incentivise platform activity. On-platform rewards consist of Creation Mining, Transaction Mining, and Volume Mining as illustrated below.
Creation Mining Rewards
Unique.Fans carries the ethos of its flagship marketplace Unique.One in that it rewards Creators for publishing their artwork on the platform.
The purpose of Creation Mining rewards is to offset gas minting fees to level the playing field for all artists.
5% of the $FANS token supply is reserved for Creators.
Any NFT created natively on the Unique.Fans platform will be eligible for a reward share of $FANS tokens.
Transaction Mining Rewards
Users (Buyers and Sellers) of the platform will be incentivised with $FANS tokens on the basis of transaction count.
Every buy/sell transaction on Unique.Fans will be eligible for our transaction mining reward.
5% of the $FANS token supply is reserved for Transaction Mining rewards.
This reward will be shared amongst all the Buyers and Sellers.
Volume Mining Rewards
Users (Buyers and Sellers) of the platform will be incentivised with $FANS tokens on the basis of transaction volume.
Every buy/sell transaction on Unique.Fans will be eligible for our Volume Mining reward.
5% of the $FANS token supply is reserved for Volume Mining rewards.
Volume Mining rewards will be shared amongst all the Buyers and Sellers.
(Volume Mining is calculated separately from the Transaction Mining programme.)
Off-Platform Rewards
Off-platform rewards are designed to incentivise community involvement in Unique.Fans events and development as well as reward Liquidity Providers who stake $FANS in available liquidity pools.
Contest Rewards and Bounties
Unique.Fans would like to incentivise and reward high-quality artwork. There will be an allocation for bounties to run marketing campaigns, community development programmes, artist contests and other events designed to reward the community members for exceptional community building and support efforts.
10% of the $FANS token supply is reserved for Contests, Bounties, and marketing.
Winners of contests will be decided by voting through $FANS on Snapshot or DAO voting.
These rewards are distributed to all the contest winners upon the official confirmation of the results.
Liquidity Mining Rewards
Liquidity Provider (LP) rewards incentivise the community to add liquidity to our liquidity pools on DEXs such as Uniswap and Polkaswap — resulting in a better trading experience for the rest of the community.
Unique,Fans recognises the issue of Impermanent Loss as a Liquidity Provider on Uniswap and other DEXs, and has allocated an LP Reward pool totaling 15% of the Total Supply.
Due to advancement in technology which can potentially minimise or eliminate Impermanent Loss, we may recommend Liquidity Providers to create new pools — or to migrate onto innovative platforms as Web3.0 technology evolves, making new opportunities available for $FANS holders.
Closing
We hope the proposed Tokenomics for Unique.Fans will enable the project to grow and facilitate a truly decentralised platform where NSFW artists can develop a more intimate relationship with fans to increase their revenue without the fear of theft, copyright infringement, or censorship.
Before this proposal can be adopted, it must be ratified by the community by vote. $FANS holders can exercise their DAO rights to ratify these Tokenomics by voting on this proposal.
Voting begins July 17 00:00 UTC and is open for 3 days until July 20 00:00 UTC.
If you are a $FANS holder, please vote here.
