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Unicly

The protocol to combine, fractionalize, and trade NFTs.
Category
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Finance
Blockchain
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Ethereum, Polygon
Currency
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UNIC
Publisher
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Unicly Team
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What is Unicly?
Unicly is a permissionless, community-governed protocol to combine, fractionalize, and trade NFTs. Built by NFT collectors and DeFi enthusiasts, the protocol incentivizes NFT liquidity and provides a seamless trading experience for NFT assets by bringing AMMs and yield farming into the world of NFTs.

Key Features
Built by NFT collectors, Unicly brings a revolutionary and unique way to combine your NFT collection, tokenize it and make it tradable.

Tokenize
Make tradeable collections of any sizes, 1 to however many NFTs you want to combine.

Trade
Buy your stake in multiple NFTs at once through the uTokens / Own shards of a variety of NFTs with uTokens.

Mix
Compatible with any type of NFTs (ERC-721 and ERC-1155).

Farm
Farm UNIC by providing liquidity and staking.

NFTs meet DeFi
Unicly combines AMMs, NFT auctions, farming, and decentralized governance in order to create the best NFT gallery and trading platform ever imagined. There’s a place for everyone on Unicly: Collectors, Casual Investors, Artists/Designers/Creators, Traders, Yield Farmers, and more!

Buying NFTs is quite a laborious process. 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. Furthermore, it is difficult for an average investor to build a large, diverse portfolio of NFTs, which makes investing in them inherently riskier. 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. It even allows casual investors to buy small amounts in NFT projects that they like as if they were liquid tokens.

Unicly will attract and incentivize all stakeholders in the wider blockchain ecosystem to participate in the NFT ecosystem. Just like how projects launch tokens on Uniswap, collectors and/or creators will be able to launch exciting NFT collections through Unicly, and benefit from better price discovery and more accessibility. Traders and casual investors will experience higher liquidity on a familiar AMM model. Meanwhile, yield farmers will be incentivized to earn rewards by providing liquidity.

Existing problems in NFT fractionalization
There have been a couple early efforts to fractionalize NFTs. The following are the main issues that could be identified:

Sharding single NFTs instead of collections
The market cap for a single NFT has a ceiling. However, by fractionalizing any collection of NFTs across multiple smart contracts, we can create fractionalized tokens based on NFT pools that hold significantly more value.

Un-fractionalization
Fractionalizing NFTs is just one part of the solution. Un-fractionalizing those NFTs and determining their rightful owners is challenging in its own right.

An example of a prior solution is implementing a carry-on clause, where people can offer to buy-out an NFT. The issue with this model is that unless the shard holders have enough funds to counterbid, they are forced to sell to the bidder.

Another example is random distribution of the NFTs to the shard holders. However, given that each NFT is unique, where even a difference in mint number can add or remove a digit to the valuation of an NFT, random distribution may not be ideal.
Information
Type
Automated Market Maker
Blockchain
Ethereum, Polygon
Currency
UNIC
Platform
Windows, macOS
Publisher
Unicly Team
Version
V2
FAQ
Yes, there will be a token called UNIC! UNIC will be a governance token capped at 1M total supply, and the inflation rate will decrease approximately once a month. Unicly will be governed by UNIC token holders. You can farm UNIC by staking whitelisted LP tokens and/or staking UNIC to earn more UNIC.
Me! I’m Leia, nice to meet you. I go by 0xLeia on most platforms. I build, design, and draw stuff
There are no investors. It will be a completely fair launch. I’ll start with 1 UNIC and whitelist some pools. At that point, anybody can provide liquidity and stake LP tokens to earn UNIC. UNIC will be minted to LP token stakers each block. You’ll be able to claim and stake your UNIC to earn even more UNIC. The first month will have the highest UNIC mint rate ever, so the earlier you participate, the better.
You can find Vaults on the Home page. If you find NFTs that you like, look through the collection and put up a bid! If you want a piece of the whole collection, you can buy some uTokens. As a uToken holder, you can govern the collection. If you believe that the total value of the bids on the collection is high enough for the collection, you should stake your uTokens to unlock the NFTs. Once enough people stake, you can redeem your uTokens for some of the NFT auction proceeds.
If you own a Vault, it’s always good to provide liquidity, since you can stake your LP tokens to earn more UNIC. You can do this on the Farm page. You can also stake more UNIC to get xUNIC. xUNIC can be converted for more UNIC over time. Thanks 0xMaki and Chef Nomi!
If you are a creator, collector, and/or NFT enthusiast with a lot of amazing NFTs, you should make your own collection! You can do this by going to the uToken page, and creating a collection with your own settings and the NFTs of your choice. You can provide liquidity for the uTokens issued in order to distribute it to your audience. UNIC holders can vote to whitelist your collection if the community likes it.
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