I have heard of unicly (URL: https://www.unic.ly/). It is a brief review of Multicoin Capital Chinese partner Multicoin Capital in the chain heard. Including the prominent Beeple in the NFT field, also issued tokens on this platform, and then the more hot Jenny Dao recently issued its own tokens. The investment institutions behind Jenny Dao are top -level crypto funds, such as Multicoin Capital, Ascensive, Ascensive Assets, Animoca Brands, iOSG, etc., individuals include 0xb1 and so on. Jenny Metaverse Dao is already the most liquid pool on Unicly. In short, Unicly has launched with these Big Name projects, which has become a project that has attracted much attention in the field of NFT fragmentation DEX.
Let’s talk about the problems encountered by NFT. Everyone knows that the NFT on Ethereum has 2 standards, one is ERC721, and the other is ERC1115S currency. The homogeneous tokens are well understood. Similar stocks can be traded at any time and have good liquidity, but NFT is like artworks. Each NFT is non -homogeneous or limited homogeneous. For example It may be orphan, or it may be like a series of treasure stamps, but overall, it is limited, irregularly divided, valuable tokens. Unpacking, high -value NFT therefore also encounter the problem of insufficient liquidity. If the NFT market wants to move towards the sea of stars, instead of being limited to the small world of art, encrypted ashes and collectors, then one The fragmented NFT protocol will be an important infrastructure for future NFT popularization.
The NFT fragmentation project headed by Unicly is doing this. By creating homogeneous Token by using the inseparable NFT fragmentation, thereby bringing liquidity.
In response to the fragmented solution in the market, Unicly pointed out two problems that still exist: the first is fragmented a single NFT instead of fragmented NFT series; the second is that Unicly believes that fragmented NFT is just the first step The auction mechanism and arbitrage mechanism after fragmented NFT, maintaining UTOKEN price rationality is the focus. UNICLE has the explanation protocol on the official website’s DOCS: It is that Unicly can fragment the NFT of ERC-721 and ERC11155s, and according to the pledged NFT series, UTOKENS can be issued. All investors holding UTOKENS can share the NFT series equalize Dividends of value improvement. Here I give an example. Suppose a well -known art institution initiated a gallery, and put it in a collection of famous paintings in advance, and distributed token with this gallery artwork. It will continue to buy famous paintings on the market for gallery exhibitions. The benefits of all artworks are performed by the Token holders. Then you can understand that the gallery’s rights and interests are fragmented.
The white paper on the official website gives an example to explain the whole scene.
Suppose Friman has two NFT worth 5 ETH, then pledge these two NFTs and create a UFReeman token token with a total of 1,000 copies. And Friman set a vote to unlock the NFT ratio, 50%, as long as more than 50%of the voting, then you can unlock the NFT and return to UFReeman.
Frima retains 200 UFREEMAN and offers 8 ETH and 800 UFReeman as the initial liquidity pool.
Suppose Xiaohong and Xiaolu have purchased 200 UFReeman and 400 UFReeman with 2 ETH and 6.67 ETHs, respectively. Because it is AMM model, the purchase price of the first person Xiaohong is 0.01 ETH, while the purchase price of the second person Xiao Green will rise to 0.0167 ETH.
At this time, there are 16.67 ETH and 200 UFREEMAN in the liquidity pool. At this time, the unit price of Ufreeman becomes 0.083 ETH, and the value of the entire NFT rises to 83 ETH, which is 10 ETH compared with the initial valuation, an increase of 8.3, an increase of 8.3, an increase of 8.3 Note.
It should be noted that the mortgage behind this pool value is NFT artwork. Assuming that there is a fool to bid NFT at this time, the bid for each NFT is 45 ETH, so the total price of the total pool NFT is 90 ETH is higher than the current valuation (83 ETH). Then there is a chance of arbitrage. Little Hong, Little Green, and Friman will vote to return UFReeman, so as to unlock the two NFT behind them and sell them to Dasha. The overall arbitrage (90-83 = 7) ETH.
If Dasha is smart at this time and is willing to bid 35 ETHs for each NFT, then the total auction price is 70 ETH. The price behind the little red and Xiao Lu is not cost -effective, because the FDV (total value) of Ufreeman is 83 ETH, which is obviously higher than the mortgage value behind it, and you will choose to sell UFREEMAN. Of course, there is a certain risk of doing so, that is, the NFT auction market behind it can be understood as the first -level market, and the secondary market itself has a certain premium. Then the judgment standard of this premium ratio is different. However, if the premium is too high, some investors will choose to sell second -level Token and choose to directly auction NFT.
Another scene is to end the fragmentation of Ufreeman. As the sponsors of this Token, Frima may be satisfied with the bid of 70 ETH of Dasha. Therefore, using the token on his hand to vote together with Xiaohong and Little Green, the voting ratio exceeds 50%. Then the pool will be unlocked automatically, and all the NFT will be handed over to Dasha. 70 ETH pays paid by Dasha will be paid to Friman, Xiaohong and Xiaolu in the ratio of Token.
After speaking of this example, in fact, everyone should have a general understanding of Unicly’s mechanism. In fact, I have experienced some other NFT fragmentation protocols, such as Niftex. The investor behind this protocol is 1kx (1kx is an Opensea seed wheel investor). On the whole, I think many NFT fragmentation agreements only pay attention to fragmentation, but the secondary flow and exit mechanism are not clear. Of course, there are many products of NFT fragmentation track innovation. For example, DODO is also working on NFT fragmentation. The DODO model has been respected by black pineapple before, but I have not studied in -depth research.
I like the current Unicly model. I think it is a great innovation in AMM, because all Token has a real value mortgage behind it. Compared to Uniswap, UNI and other AMM issuances are unlimited. The token behind it can be a bubble or a valuable team, but there is actually a problem, because the blockchain world itself does not restrict the restrictions. Many teams may issue many tokens in the same time, such as many projects across one other public chain and issue a tokens. This is unimaginable in the traditional world. I think it is a disguise to some extent. The capture cannot be mentioned at all, because many tokens issued on the Uni are mapping in the reality team and project. If the team turns to another field, or the newly issued token (it is not uncommon in the current currency circle), then it is actually the original to the original The tokens are greatly damaged, and the UNI mechanism cannot be guaranteed at present (after all is Permissions). On the contrary, UNICLE’s UTOKENS represents the value of the NFT behind, which can be locked on the chain. If you look at it, NFT is now not only representing art, but also expands more financial attributes in the future, such as the LP NFT of Uni V3.
In short, after reading the Unicly model, I think it is a very important innovation, and it may also grow into an important infrastructure in the NFT world in the future. In addition, by the way, Unicly intends to carry out Fair Launch tomorrow, the founder of the project is 0xleia, a very passionate and artistic imagination.