Unique x Satoshi CLUB AMA Session 19 Dec 2020
Tags: Unique, Cryptocurrency News, Recaps, Ama, Bitcoin

Preselected questions about the Unique.One project.

Gold Rocket | Satoshi Club:

Q1 from Telegram user @yellowchamp

With your “Artist No-Fee policy” which stated that you don’t charge creators fees. Artists get full price for their work.I’m a little bit confused with this statement, can you explain it more? Why you are not charging creators fees? Do you have any criteria for giving a price with your Artist or it is fixed already? What kind of Artist are you recommending to join your platform?

Unique G: Will never DM first:

Traditionally, NFT platforms will charge the creator a fee for creating an NFT token. Unique One does not charge this fee. So there is no additional cost other than that for the interaction with the smart contract.

The other charge is when the artist sells. On other platforms, they can charge both the buyer and seller 3.5% for example. This means the company collects 7% in total.

Here at Unique One, we don’t charge artists for selling. We only charge 1% platform fees for the buyer. And as I explained earlier, this 1% goes back to the token holders.

Gold Rocket | Satoshi Club:

It’s very smart!

Thanks for the answer!

Unique G: Will never DM first:

As for our artwork policy, we accept all kinds of digital art. The only thing that we do not tolerate is copying and selling other people’s work. This is theft! We have clearly detailed in our terms for such violations.

I think people in crypto have to understand that the reason they lose money or do not get full value is that all the value is taken by someone else.

Gold Rocket | Satoshi Club:

Strongly agree about copyright

Unique G: Will never DM first:

We want to prove that blockchain is made for disintermediation and not a tool for intermediaries to use to make money.

D| Satoshi Club:

Do you have a mechanism, how to check that it’s a copy work and not the original one?

Gold Rocket | Satoshi Club:

However, money is also important.

Unique G: Will never DM first:

At the moment it is complaints based. We will depend on the community to keep the platform in order. This way we can keep censorship down to a minimum. Other platforms also ban projects doing airdrops for their community. It is extremely dangerous to play God in a decentralized world.

This is the problem. The community wants to realize value but when the projects are greedy. The community gets burned.

Gold Rocket | Satoshi Club:

You noticed it perfectly! Thanks for the answer! Everything is clear to me. The next question?

Unique G: Will never DM first:

Yes

Gold Rocket | Satoshi Club:

Q2 from Telegram user @Highpee

Unique.One is a permissionless decentralized NFT exchange. Of recent, Defi projects have decided to become open and permissionless in order to gain trust. However, going open and permissionless have its own risk as your codes are open and your project can be easily cloned. Also, some cloned or fork projects have also been found to perform better than the original project. How do you intend to deal with this kind of situation in order to maintain your originality and competitiveness? Are you a clone of a previous project?

Not an easy question

Unique G: Will never DM first:

Sure. For codes, when we refer to open source, it is often the smart contract portion that is open source. We still have to create new code for the website and interface. We studied the rarible code and used a large part of it with the exception of a few parts and made some changes to it. There will be a difference between us and Rarible in the sense that all our codes will be fully open-sourced. This is the principle we live by and we hide nothing.

In terms of competitiveness, there are many improvements we can make and we are looking into such as NFT fractionalization and integration with DeFi. Our policy here is to work with everyone and not do everything ourselves. After all, we are a community project and have no profit agenda.

Gold Rocket | Satoshi Club:

Btw is your team anonymous or are you, public persons? how many people are on the team?

D| Satoshi Club:

And here also we have to ask our favorite question about the audit.

do you plan some audits?

Unique G: Will never DM first:

It is worth noting that Unique One despite being a young low cap project, will be sponsoring ETH Denver 2021 VR Art Gallery. Super-rarre will be displaying their works there. It is a purely digital event that lasts 24 hours for 7 days and free to the public to join. It starts on 5th Feb 2021 and we hope everyone can join in.

Yes for the audit, we are in progress and hope to have the audit results published before our main-net launch on 28th December. We choose this date to launch the main-net because it coincides with the Comiket in Japan which is the major anime and manga event in Japan but it will be done virtually this year. We have very close links with Japan and Japanese projects.

D| Satoshi Club:

This is great!

Unique G: Will never DM first:

I really encourage everyone to look at our mining program and liquidity provider programs. We have transaction mining and also volume mining. Basically, we want to be sure not only whales can earn the tokens. In total, 60% of the tokens of the project can be earned. And the community will own this project in its entirety.

This is our token distribution

Dev Funds — 20%

DAO Allocation — 20%

Creation Mining — 10%

Transaction Mining — 10%

Volume Mining — 10%

Contest Rewards — 10%

LP Mining — 10%

Bounties — 5%

Airdrop — 5%

Our long-term plan is to create an ecosystem of marketplaces and obviously, the $rare token holders will have some benefit when these sister projects are launched. We are also keeping an eye on the Polkadot/Kusama ecosystem and impressed by some developments by Unique Network (no relations).

D| Satoshi Club:

Thank you! @GoldRocket27 do you have any additional questions?

Gold Rocket | Satoshi Club:

I wanted to clarify about the team that helps create this project

Thanks for this. This is really impressive.

Unique G: Will never DM first:

If you guys know anyone, even if they are traditional artists. We have community members ready to guide them and onboard them. We believe there is only a fraction of a possible number of artists that is on NFT platforms.

Other platforms will treat you are customers. Here we treat everyone as members of the community, as it should be.

We are an anonymous team and choose to be for the reason that we want to move this to a DAO governance. Once the DAO governance takes over, then the community will decide what to do when the regulations eventually arrive for DAOs. We call ourselves the founding team and our objective is to pass the governance to the community asap. In terms of expertise, we have veterans with more than 20 years of experience in all the key areas such as marketing, business development, software development, public relations, management, etc. But again, the objective is to pass this on to the community.

Gold Rocket | Satoshi Club:

great! Can we proceed to the next question?

Unique G: Will never DM first:

We understand choosing to be anonymous also means that people will scrutinize us. This is why we did not go public until we have a test net. And this is why we only list when we are sure we can deploy on main-net. We want people to judge us by the product and experience. Come and talk to us. Sure.

Gold Rocket | Satoshi Club:

Q3 from Telegram user @Pannicota

Hi sir

Unique.One provides for users an ability to vote on governance decisions because it’s built on DAO structures right? But It seems that many DAO project’s voting systems are being Heavily manipulated by some Large Tokens Holders (Called Whales), I said that because big holders = big powers in voting, and tokens are easy to get through exchanges. And it brings bad DAO Voting behaviors, unfair for many small investors, small holders so how will Unique.One provides the fairness / the trusted, the balanced in the DAO Voting process on Unique.One projects?

Unique G: Will never DM first:

This is a great question. Yes, absolutely we recognize this as a major problem. We have released our first DAO Governance Proposal for community voting at governance.unique.one. This is so that the project is from day 1 a decision by the community. In this phase, we are using Snapshot which is an off-chain voting mechanism and yes it uses the number of tokens in an account to count as votes. This is why we have a phase 2 governance.. let me explain.

D| Satoshi Club:

Sure!

Unique G: Will never DM first:

In phase 2, we will adopt a DAO system but it is important for everyone to understand that the DAO is just a mechanism to vote and ratify a decision. The actual governance structure needs to be built on top of this. We have a proposal for the committee which are separated by functions and also by governance or management. We will announce when we are ready but we expect our proposal to be the first in the world. As for the voting power, we have a solution for this. Being an NFT platform, we can easily deploy a system where there will be requirements to participate in voting for certain matters (this means the issue can be categorized and various types of voting used). So for those who qualify, we can issue the person an NFT. This NFT can be deposited into a contract that produces another ERC20 that we will use for voting. So this means one person one vote instead of one token one vote. I hope that answers your question.

Gold Rocket | Satoshi Club:

All clear! Thank you!

next question?

Unique G: Will never DM first:

In terms of languages, we have our Chinese site up at cn.unique.one and we should have our Japanese site up soon as well. We will gradually expand to all languages. Sorry I was taking advantage of the delay. Yes, please.

D| Satoshi Club:

Interesting system…

Unique G: Will never DM first:

The technology is very flexible but it is only one part of it. At the end of the day, we are humans and we need a human system as well.

Gold Rocket | Satoshi Club:

You can take your time if you want! we want you to feel comfortable!

Unique G: Will never DM first:

Hahaha thanks. We want people to come to use the platform and own the platform and I hope many of you here will come join us.

Gold Rocket | Satoshi Club:

Please share useful links to the project with our community!

Unique G: Will never DM first:

Upcoming Events

18 Dec to 21 Dec — Governance DAO Proposal Ratification on a snapshot

21 Dec — Unique.one Chinese AMA in Biki WeChat

22 Dec — Biki Exchange and Uniswap Listing + Biki CEO AMA in Unique.one telegram + Biki Grid Trading Reward Programme

28 Dec — Comiket Air + Mainnet Launch

Website : unique.one

Chinese website : http://cn.unique.one

Our Testnet is Live!

http://testnet.unique.one

(We recommend Metamask on desktop at the moment and remember to select rinkeby network)

Governance Voting

Ratification of Governance DAO Proposal https://governance.unique.one/#/uniqueone.eth/proposal/QmcTuiju5kwREZ6DzM5sBgcbrzDVU6C2txLqZugcsLcgi5

Articles about Unique.one

Introducing Unique One https://uniqueone.medium.com/introducing-unique-one-6cfe19450e3c

Testnet Is Live https://uniqueone.medium.com/unique-one-testnet-is-live-31ac7c567dc3

DAO Governance Proposal https://uniqueone.medium.com/unique-one-dao-proposal-for-governance-structure-bdd7db0ea6bc

CEX and DEX Listing https://uniqueone.medium.com/unique-one-rare-listings-cex-and-dex-392dcfa2482d

Gold Rocket | Satoshi Club:

Wow! Thank you!

Then the next question can be asked!

Unique G: Will never DM first:

There are contests as well. The Biki free $RARE sign up is almost over I think. But we have a meme contest coming up for all you creative degens. Biki exchange will have Grid Trading Promo as well. And we will have Uniswap LP rewards and so on. It’s going to be exciting!

Gold Rocket | Satoshi Club:

Amazing

Q4 from Telegram user @lzamg

Most of the new crypto projects start the launch of their tokens with a public or private pre-sale and even airdrops. So I’m curious to know: why did you decide to not do any of this and directly put the $RARE tokens on Uniswap for the people to purchase? Is this a strategy to arise trust and security within the users?

Unique G: Will never DM first:

This is an excellent question. We follow a method called Fair Launch. This means even team members have to buy the tokens as everyone else in the private sale. The main advantage of this system is that it prevents dumps in the market on the listing. We have learned a lot from the 2017 ICO craze and most of the team members and advisors who obtained their tokens free will dump on the market. This means investors will lose their money and there is no end to the price drop. Personally, I have invested in a few of such projects and it is unpleasant. The other key to this is actually the market cap. We only raise what we need to get the platform developed and get off the ground running. There are no extras for us. Other projects will try to raise as much as possible and this is greedy in our opinion. Early adopters need to be rewarded and we have to respect this basic law in crypto.

D| Satoshi Club:

Can you tell us, how much liquidity will you add to the Uni pool? and at what price people can buy $RARE?

Unique G: Will never DM first:

We want to grow from 20 to 200 and from 200 to 2,000.. and from 2,000 to 20,000.. and the only way this is going to happen is if everyone realizes value from the platform. As you can see there are many dead projects in crypto and we believe is it simply bad karma. They took advantage of their community and this project will never succeed.

| Satoshi Club:

Yes, this is true.

Unique G: Will never DM first:

We are listing on Biki Exchange and Uniswap. We aim for a liquidity of at least USD10k gradually building up in the first few days. The reason is that the community needs to come in and provide the liquidity. The method of adding liquidity on Biki Exchange is different and actually very interesting. Grid Trading is actually an automated trading tool and if enough users provide liquidity, you have a very active market. So of course there are risks but we have already allocated tokens to Biki to give as reward. So we think it is a good place to try to earn some tokens as you will be essentially getting an airdrop regardless of trading performance. At first, we were only going to list on Uniswap but then we realize not everyone can use DEX and also not everyone wants to pay the high fees for a trade. Biki Exchange has been very accomodating to us to our surprise and they have 3 million traders and big exposure to China. This is why we created the Chinese website, it is to cater to this community. This was not in our original plan. Additionally, we will also launch a balancer pool. Our philosophy is to give as many options to the community as possible.

Gold Rocket | Satoshi Club:

This is really very tempting.

D| Satoshi Club:

Yes, I actually think it’s a very wise decision to going to the list on CEX and DEX on the same date.

Unique G: Will never DM first:

We expect Grid Trading to have a positive impact on the price (not financial advice). The reason is other traders on the platform will need to buy rare in order to join the Grid Trading contest. It also serves as a liquidity lock. We are hoping for good results but we are in the same position as everyone when it comes to prediction.

D| Satoshi Club:

Thank you for the detailed answers! ready for the next question?

Unique G: Will never DM first:

We are keeping an eye out for the developments on the Polkadot ecosystem and especially Polkaswap which will be a CEX and DEX aggregator. There is no way to get Polkaswap except through the sora and Val farming game at sora.farm. That’s a tip, but really, we are ready to move there from Uniswap especially if it has greater liquidity and rewards. Yes, please.

Gold Rocket | Satoshi Club:

Q5 from Telegram user @Jonahapagu

Unique.One will hold weekly artist contests providing Artists with an opportunity to win $RARE… Can you explain more about this contest how do artists qualify and partake in this contest, and what do they have to do to win… you have reserved 1 million tokens for this, will the contest stop after the 1 million tokens have been exhausted.

Unique G: Will never DM first:

I am glad you asked this question. The artist contest will start in early Jan 2021 and the format will be decided by the community. The topics are endless, we can have character design or landscape, or photo manipulation, or gif. We can also make it a theme like Satoshi or CZ. We can have a collaboration for example with Satoshi Club where we can have a Serg contest. Maybe who makes Serg the most handsome wins. LOL. More importantly, the reason we want to hold this is so that the qualitative aspect of the art is recognized and rewarded. We want new artists to be known, not only the well-established ones. And when they become more famous, we hope they can enhance their ability to earn.

Gold Rocket | Satoshi Club:

Let’s ask Serge

Unique G: Will never DM first:

The token allocation is over 5 years and we believe that we will know whether we succeed or fail over 5 years period. But there is no need to worry after 5 years because the technology would have improved and as long as the DAO decides, the project can adapt to the new conditions and continue to grow. I want to emphasize that the value of digital art is more than what many can imagine. We are looking at a market of tens of billions and where existing platforms especially photography or stock photos can charge as much as 40% for sales. If we succeed as a community and platform, there will be tremendous value for everyone.

Unique G: Will never DM first:

He will say he is already too handsome

D| Satoshi Club:

HaHaHa.

Gold Rocket | Satoshi Club:

I think so too

D| Satoshi Club:

Ok, so who will be picking the winners of the contests? community?

Unique G: Will never DM first:

Yes, the voting will be via snapshot. A platform is just a tool and the team is just a facilitator, the community owns Unique One and they decide.

D| Satoshi Club:

Thanks for the answer!

ready for the last question, from part 1?

Unique G: Will never DM first:

Yes, please.

D| Satoshi Club:

Q6 from Telegram user @Garrinepotter

Farming tokens in liquidity pools is a common and boring business. You create an NFT marketplace where art will be presented as a commodity. Will it be possible to farm on your platform using NFT? For example, for posting quality content. Is it possible to incentivize artists with your tokens? By the way, Satoshi Club we need more people there @unique_one_rare let’s join

Unique G: Will never DM first:

Great question! The idea of farming NFT is excellent and it is something we foresee doing. We may also do NFT games but our idea is that it should be a platform so that others can easily do it. There are some NFT games that are not really open source. Most of the code is actually closed. And yes, we are talking to two NFT fractionalization platforms. As you know the potential is endless for this. It can be used to fractionalize artwork but it can also be used to fractionalize bonds or insurance or other financial instruments. We are at the very beginning of a large revolution. If you guys have a startup idea, please come and talk to us. We are all about community and collaboration. Thank you so much, guys. We really appreciate all your support.

D| Satoshi Club:

Thank you for such cool and informative answers!

Gold Rocket | Satoshi Club:

Thanks for your great answers! Are you ready for the storm of questions?

Unique G: Will never DM first:

I just want to emphasize that you do not have to be a developer to start a project, please come and talk to us. We are also talking to people who are deep into Music NFTs and DeFi. We always believe that relationships come first and eventually we will be able to work together. Yes. I have seen the craziness.. hit me.

Gold Rocket | Satoshi Club:

You have to choose the best 10 questions and answer

Unique G: Will never DM first:

Sure.

D| Satoshi Club:

Great! Satoshi club if you have some good ideas, go and share them

Unique G: Will never DM first:

Absolutely. Satoshi Club is VIP

Gold Rocket | Satoshi Club:

@Cool_as_Ice open live chat!

Thanks for your kind words

D| Satoshi Club:

let’s go!