Unique One Photo ETH Platform Rewards Live!
Congratulations to the Unique One Photo Community DAO for passing the Unique One Photo Tokenomics Governance Proposal.
As outlined in the Unique One Photo Tokenomics, more than 50% of the supply, i.e., 50,000,000 $FOTO tokens are reserved for rewarding the active Unique One Photo community and Liquidity Providers.
All activities on the platform — Publishing, Selling, Buying — earn $FOTO Tokens, in addition to LP providers.
What are 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.
Publishing Rewards (Creation Mining)
Unique One Photo carries the ethos of its flagship marketplace, Unique.One, in that it rewards Photographers 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 photographers.
10% of the $FOTO token supply is reserved for Creators.
Any NFT created natively on the Unique One Photo platform will be eligible for a reward share of $FOTO tokens.
Transaction Mining Rewards
Users (Buyers and Sellers) of the platform will be incentivised with $FOTO tokens on the basis of transaction count.
Every buy/sell transaction on Unique One Photo will be eligible for our Transaction Mining reward.
5% of the $FOTO 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 $FOTO tokens on the basis of transaction volume.
Every buy/sell transaction on Unique One Photo will be eligible for our Volume Mining reward.
5% of the $FOTO token supply is reserved for Volume Mining rewards.
Volume Mining rewards will be shared amongst all the Buyers and Sellers.
On-Platform rewards are now live on Unique One Photo Ethereum
As Unique One Photo is a multichain marketplace, the Community had to decide by DAO vote how to allocate platform rewards across BTC and ETH Marketplaces.
The Community chose to allocate 100% of the platform rewards to the Ethereum Marketplace. As such, platform rewards on the Ethereum Marketplace are now in effect as of August 1.
Daily platform reward rates for Unique One Photo Ethereum
In accordance with the Unique One Photo Tokenomics Distribution, the platform reward rates are distributed to the community effective August 1st as follows:
- Creation Mining: 5000 $FOTO/Day
- Transaction Mining: 2500 $FOTO/day
- Volume Mining: 2500 $FOTO/day
How do I get my $FOTO rewards?
All rewards are calculated bi-monthly at the mid and end of each calendar month and distributed sometime during the week thereafter.
To claim your Unique One Photo Ethereum on-platform rewards, navigate to Unique One V2, connect your wallet, and go to the Dashboard. There you can claim your photo $FOTO on-platform rewards.
