Unic.ly AMA Summary Recap with Shin Chan Community
We held a live AMA with Leia, Designer & Developer on 5th April 10:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
JH|Shin Chan: Can you introduce yourself and the team background?
Leia Fisher: Hey everyone! I’m Leia, on twitter https://twitter.com/0xLeia. I’m a designer and developer, and a huge fan of art. I’ve been participating in the NFT space for many years.
Unicly is a protocol to combine, fractionalize, and trade NFTs with guaranteed liquidity. The protocol allows users to wrap any number of NFTs together into a “uToken”, which is the ERC20 equivalent of the NFT collection. Users can then provide liquidity and experience AMM-type price discovery of these fractionalized NFT collections.
JH|Shin Chan: Do you have any news about Unic.ly would like to share with us?
Leia Fisher: Yes, would love for everyone to check out our launch dates and info on fair launch which is about to kickstart really soon
AMA Twitter Section Begin:
Q1: “The best designers, artists and celebrities, are looking for the NFT platform that has the best design characteristics to create their NFTs, will Unicly really be the ideal option? or others have better tools?”
Leia Fisher: Unicly allows artists and collectors to fractionalize their collections. This allows more people to trade NFTs at lower price points, enabling more of us to have ownership of even the most coveted NFTs. There’s a place for everyone on Unicly: Collectors, Casual Investors, Artists/Designers/Creators, Traders, Yield Farmers, and more, making Unicly the best option.
Q2: “So far this year 2021 has been the NFT boom, but do you really think that boom will last all year and beyond? Or do you think that emotion will last only a few months?”
Leia Fisher: We feel that NFT’s will be here long term. Whether in a bull market or bear market people will still want access to fractionalized ownership of NTS. In this type of decentralized marketplace, unknown artists and musicians also get access directly to the public without any intermediary agents or control. We are still in the early stages of what this technology can do.
Q3: "It seems that there will be a long-running marathon among the new projects that emerge every day. What will be your energy source that you believe will take you to the forefront of this race?”
Leia Fisher: Our energy source comes from the fact that Unicly will be fully governed by the community. On day 1, I will start with 1 token in order to vote in the first set of whitelisted pools. I have to do this so that there is an initial list of pools that can mint new UNIC, and therefore the community can take the reins immediately with their tokens. With the community actively participating, that’s key to our success.
Q4: "How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates???”
Leia Fisher:
We would love that, I always love interacting with the community
Q5. “How can creators include their collections in the Unicly whitelist, is it necessary to have an amount of the UNIC token to opt for this option?”
Leia Fisher: We will have the community choose which collections will become Whitelisted Launch Partners. Anyone can upload their collection to our platform and between April 7th and April 19th, the community will be able to interact, discuss, and choose which uTokens collections are the most “unique” out of the ones that are created. The quality of the collection, amount of liquidity, and engagements by the community will be taken into account for the whitelisting.
Do check out our potential whitelisted collections starting April 7!
Telegram Live AMA Begin
Q6: I saw that there are no investors in #Unicly, but could you please really tell us why ? Could it be that they have a problem with having investors or partners? Or is it really not that much capital is needed in NFT?
Leia Fisher: We have no presale investors, since we’ll be doing a fair launch. The development team will get 10% of the UNIC supply as UNIC gets minted. The only way to mint UNIC will be to stake LP tokens into whitelisted pools, similar to how it’s done on Sushiswap. Whitelisted pools will be decided on by UNIC token holders.
This way, when Unicly launches, everybody starts on a level playing field. No presale dumpers. True supporters will mine or buy UNIC tokens, making the whole community real investors.
Q7: Who can create an Unicly NFTs? Is the door open for community?
Leia Fisher: We encourage anyone to create a collection on our platform and interact/ join the community!
Q8: Can we get details on the governance model of $UNIC and how can we participate in presales and buy tokens?
Leia Fisher: Unicly will be fully governed by the community. Check out details here https://docs.unic.ly/governance
Q9: Tell us a little bit about security? Have you done an audit of the platform? Are the smart contracts error-free? What are the test results?
Leia Fisher: Yes, concerns and audits of our smart contracts can be out here https://docs.unic.ly/smart-contracts/security-audit
Q10: Why does your $UNIC supply cover only Community and Developers and not cover other areas such as Marketing or partnerships?
Leia Fisher: Development team includes marketing and developers
Q11: How can we buy Unicly token? Will you have a public sale?
Leia Fisher: You will be able to swap on Unicly’s own exchange, the community will likely create pools on Uniswap and other exchanges as well.
Q12: Can you explain the benefits of Unicly’s long-term vision for its users and investors? And what is your main strategy for getting the attention of actors in the crypto world to Unicly?
Leia Fisher: 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.
Unicly’s key attributes are 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.
We believe that there is no NFT fractionalization platform out there that has solved most of the underlying issues, to create a fully functional protocol that fits the market’s needs.
Q13: How can we Mint a NFT on your platform? Do you have any guidance for newcomers?
Leia Fisher: We are always here to help newcomers, this is the guide to fractionize, https://docs.unic.ly/tutorials/how-to-fractionalize-your-nfts
Q14: What chain does your NFTs support?
Leia Fisher: We are on ethereum currently but are looking into layer 2 solutions
Q15: Why you choice your project name #unicly??
Leia Fisher: NFTs have a lot to do with being unique. We’re also looking for unique collections, and we’re a very unique protocol. We wanted to capture all of this in our name, while making it memorable.
Q16: I personally like NFT’s very much but gas prices are very high on ethereum, do you plan to add another blockchain like palkadot support?
Leia Fisher: Yes after launch we will look into other solutions
Q17: What characteristics of unicly allow you to guarantee the liquidity of your NFTs?
Leia Fisher: The protocol allows users to wrap any number of NFTs together into a “uToken”, which is the ERC20 equivalent of the NFT collection. Users can then provide liquidity and experience AMM-type price discovery of these fractionalized NFT collections.
Q18: Which famous artists will be showcasing their NFTs after the launch of Unicly? Which ubfluencer are you supporting?
Leia Fisher: We have had a lot of excitement from collections/companies including Sandbox, Aavegotchi, Animoca, Star Atlas and more !
Q19: After the launch of Unicly on April 7th anyone will be able to create their own uToken collection on Unicly Can you explain us how we can do it? How much capital do we need to do it?
Leia Fisher: We have step by step guides here https://docs.unic.ly/tutorials/how-to-fractionalize-your-nfts and I’m always around to help
Q20: I find this project super interesting because it brings NFTs a little closer to users. Could you explain to us how you plan to implement governance?
Leia Fisher: Unicly will be fully governed by the community. You can find details here https://docs.unic.ly/governance
Q21: We have finished developing the protocol and the platform is ready to launch. The focus now is the fun part, connecting with the community and collections from artists, collectors and companies in the space.
Leia Fisher: Exactly, our next steps are the fun part, getting the community involved!
Q22: Unicly has a reward program with respect to NFTs, which is; Rewarding contributors of the best NFT collections through the extraction of liquidity from the UNIC governance token. But how do they determine the best contributors ? Through a vote ? And how often does this reward system take place ?
Leia Fisher: The community will be able to interact, discuss, and choose which uTokens collections are the most “unique” out of the ones that are created. The quality of the collection, amount of liquidity, and engagements by the community will be taken into account for the whitelisting.
Q23: What are the most important elements for your project:
1. Investors
2. Community
3. Market / Exchange
and why?
Leia Fisher: Community will play an active role.
Q24: The other defi projects are using telegram for commuity but you are mainly using Discord for it. Why?
Leia Fisher: We are across all channels and my twitter is https://twitter.com/0xLeia
Q25: What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year ?
Leia Fisher: We will commence with our launch plans and dates, find out more here
Q26: I read that there are no investors in Unicly, but could you really tell us why? Could it be that they have a problem with having investors or partners? Or is it really not that much capital is needed in NFT?
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.
Q27: Most of the smart contracts of recent projects are prone to errors and even the previous major DeFi projects have had the same problem, making you face a lot of difficulties and a great impact. to the user, How do you guys improve that?
All our smart contracts will have gone thru audits you can find here
https://docs.unic.ly/smart-contracts/security-audit
Q28: What was the idea that motivated you to create Unicly ? Is your way of managing smart contracts different from the classic smart contracts developed in Ethereum?
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.
Q29: Where can I find more information about the project team?
The project will be community owned and go throught a fair launch. (besides me)
Q30: How can we buy/sell Unicly NFTs? Can we buy them on 3rd party marketplace or will you have your own marketplace?
You will be able to buy fractionalized portions on our platform.
Q31: The concept of Fractionalize NFTs has been existed from 2018 and there so many projects that offer this service, so can you tell us what are the competitive advantage or unique solutions that Unicly offer over them?
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.
Unicly’s key attributes are 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.
We believe that there is no NFT fractionalization platform out there that has solved most of the underlying issues, to create a fully functional protocol that fits the market’s needs.
Q32: What does that means Unicly? From where the name came?
NFTs have a lot to do with being unique. We’re also looking for unique collections, and we’re a very unique protocol. We wanted to capture all of this in our name, while making it memorable.
Q33: Is the token already launched? Is it listed on any Exchange? How can Community buy UNIC?
Check out details on our launch here
-End-
