Only1 Beta Launch 30 Sep, What to expect
After months of waiting, Only1 Beta is finally launching tomorrow! Take your pen and sticky note, write down ‘Only1 Beta!!!!!’, stick it on your computer monitor and be excited!
Beta Launch Date & Access code
Launch date: 30 September 2021
Access Code: There are several access codes scattered around the metaverse, see if you can find them. Each will have a limited number of uses.
Could this be one of them.. Well that was easy..
What to expect in Beta
Features you can expect to see during Beta;
- Creator Staking pool — Creator’s profile, APY, TVL, number of stakers and claim APY rewards
- NFT Marketplace (Coming soon) — Genesis NFTs for sale, owner and creator both earn a split of the creator’s staking pool
- INO Launchpad (Coming soon) — 10,000 unique Only1 NFTs for grabs with perks including ‘OG’ badge
Creator Staking Pools
Each Creator staking pool will have its own APY and TVL. By staking in them, you are supporting the creator and they would get rewarded a % of the TVL over time.
How does the APY get calculated you ask?
Here’s the gist. We want to prioritize rewarding creators that are producing quality content across social media. Currently, APY starts at 300% and decreases slowly in a logistic curve (Sigmoid function), the rate at which it goes down depends on how active the creator is! The secret ingredient… let’s call it ‘Creator Factor’, affects how much TVL it takes to reduce APY by half, in other words, lengthening the curve.
What is Create to Earn (C2E)
Create-to-Earn model pays people to create content. With the right decentralized platforms, users can create content, and allow their audience to engage, access, and even earn through collecting these NFTs. Meanwhile, the creators will earn rewards in native crypto tokens of the platforms.
Additionally, Only1 also provides the staking feature allowing users to to stake crypto tokens on their favorite creators’ profiles. Over time, the stakers, NFT owner, as well as the creator, will all earn a split of the crypto token rewards from the staking pools. The more active the creator is, the higher the APY, the more users will stake their tokens, the more reward.
Beyond the token staking rewards, creators, as stakers, will earn the access of the governance right on the protocols with the stake-weighted voting. As a recognition for their contributions, token holders will be able to propose and vote on development of the platform.
For creators, investors, users, and individuals, the Create-to-Earn model represents an unusual opportunity to get in at the ground level.
White paper update
Our team has grown over the past few months and we would like to keep you informed of the masterminds behind Only1. More details on the features and tokenomics have also been released.
Only1 is a NFT-powered social platform built on Solana. We help creators monetize and allow fans to connect with the creators they love in a unique way — think decentralized Patreon, read more on Create-to-Earn (C2E) here. Mixing social media, NFTs, DeFi, and the native token — LIKE, Only1 offers a web3 solution to creator economy and fan engagement.
The new world of decentralized social media is here, and it’s being built on Solana. Follow us to learn more.