App Promotion Staking: A Uniquely Accessible Pathway for Developers
Get to know our sponsored transaction staking model, which will help financially support a new generation of developers (and community investors).
Everyone loves staking rewards with big yields. But aren’t steady gains just a bit sweeter when holding directly enables developers to build incredible things and benefit the growth of a platform and industry you support? At Unique, we want to reward community members and investors devoted to helping us build our vision—and that of the blockchain community we are innovating.
Our App Promotion Staking program does just that while rewarding holders at an APR of 20% (generally falling between 10% and infinity) and creating opportunities across several corners of the blockchain.
Unique Network’s mission in building next-generation NFTs is to make web3 onboarding of mass web2 audiences with limited blockchain knowledge as painless and seamless as possible. Through our most recent product launches and updates, like Unique Minter and a campaign around RFT (re-fungible tokens), we’re putting plans into action for a future where utility and potential for blockchain and NFTs are as unlimited and innovative as the minds of those who make up the ecosystem itself.
We’re realistic about the hurdles many users and developers need to navigate when looking to create NFT experiences, one of them being cost. As markets fluctuate and certain blockchains remain congested and expensive to operate, we are building tech and infrastructure to democratize access to technology so that more people can enter and engage with this industry. One form of innovative tech we are currently looking to expand from our original techpaper revolves around transaction sponsoring, which helps create painless transitions to acquire and migrate more users into web3 and our platform.
While sponsored transactions allow many users and developers to get their projects off the ground, we realize that some may still struggle to produce the funds required to get their dApps off the ground. We have designed a solution, App Staking Promotion, to provide even more accessibility to developers and incentives to QTZ/UNQ stakers willing to provide funds for sponsoring (and locking) in exchange for lifetime rewards. The reward comprises a share of application fees produced by the promoted app, which we will explain in more detail below.
App Promotion: How It Works
App promotion is an application for transaction sponsoring, which is financially powered by inflation and staking. Users stake their funds in exchange for rewards. Afterward, immediate rewards are generated by inflation and put into the Treasury, which in turn sponsors transactions for dApps. Later, dApps pay off their sponsored fees as they produce network fees.
Short-term rewards are the guaranteed portion determined by the curve that depends on the network activity. It starts at 10% APR for the low network activity and saturates at 20% for the highest network activity.
The long-term reward consists of network fees produced by the applications that graduated from the App Promotion program. 50% of the fees are divided between stakers proportionally to their staked amounts and the number of days they’ve been staked. APR for the long-term reward can go up infinitely. This simple yet innovative process produces a flywheel effect. It brings in more developers to our ecosystem and helps them build their dApps while ultimately generating more fees for the network, which then go back to the Treasury.
Roadmap: What’s Next
Our App Promotion Staking Roadmap will be deployed in three phases:
Absolutely-MVP (0.1): Absolute minimum of functionality satisfying in order to begin staking. Potential deployment in 6-10 weeks. *Initial MVP 0.1 will have APR of 20%.
Version 1.0: More granular control of rewards and sponsorship. Potential deployment within ~6 months.
Version 2.0: Supporting specific applications and additional features.
Stay tuned for more updates on the Unique App Promotion staking program and how to get involved. Thanks for reading!
— Unique Network
Unique Network is a scalable blockchain for composable NFTs with advanced economies — The NFT chain built for Polkadot and Kusama.