Unicly

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:
• From Zima Red (19-5-2021):

"A decentralized NFT fractionalization platform popular with investors, artists, yield farmers, and defi traders. On Unicly Protocol, users bid for NFTs locked within its vaults and can even stake tokens to unlock coveted NFTs."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on: Ethereum

Their Other Projects

Jenny DAO

• From Zima Red, who is a backer of the DAO (19-5-2021):

"Jenny DAO is a galaxy brain play because it basically created a power user, from day one, for the new NFT fractionation protocol, Unicly. This is the first time I remember a team creating a power user for their protocol and I think it’s an incredible way to bootstrap usage (although Unicly did not need it because there was already significant activity on the protocol, still a great move). A so-called Metaverse DAO, the recently-launched project is concerned with the purchase and sale of NFTs, which can be locked into vaults controlled by Unicly Protocol’s smart contract and sold to the highest bidder.

So, how does Jenny DAO work? Well, the first thing to note is that community members have the power. The power to decide which NFTs to purchase and when, and to manage these assets through ownership of the native Jenny token. Providing enough Jenny token holders want to “release” an NFT, the DAO can instruct the smart contract unlock the vault, whereupon it will be held in a multisig wallet controlled by key members.

With Jenny tokens representative of a member’s NFT ownership level, token-holders can also freely “cash out” at their leisure via an automated market maker (AMM). To this end, NFTs will enjoy better liquidity and more users will have an opportunity to access the thriving NFT market.

Of course, community members have further responsibilities. These include estimating the value of NFTs, settling discrepancies between the value of Jenny tokens and that of NFTs, participating in NFT auctions, and assessing the worthiness of incoming bids for NFTs in the collection. It’s a tough job, but the upside makes it worthwhile.

Jenny DAO has already started acquiring high-end NFTs, including a collaboration between Grammy-nominated DJ Steve Aoki and 3LAU, with visuals by Peiter Hergert. Ordinarily, such a collectible would be purchased by a whale and that would be the end of it. Instead, it has been commissioned by a decentralized autonomous organization and will belong to the community."

Roadmap

• Can be found [Insert link here].

Audits

• Bug bounty program can be found [insert here].

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].

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