UniqueNetwork App Promotion Staking
Get to know thesponsored transaction staking model, help financially support a new generation of developers.
UniqueNetwork App Promotion Staking. The App Promotion Staking program does just that while rewarding holders at an APR of 20% (generally falling between 10% and infinity) & creating opportunities across several corners of the blockchain.
Unique Network’s Mission
They’re mission in building next-generation NFTs is to make web3 onboarding of mass web2 audiences with limited blockchain knowledge as painless & seamless as possible. Through our most recent product launches and updates, like UniqueMinter 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.
They’re realistic about the hurdles many users & developers need to navigate when looking to create NFT experiences, one of them being cost. As markets fluctuate & certain blockchains remain congested and expensive to operate. They are building tech and infrastructure to democratize access to technology so that more people can enter & 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. They realize that some may still struggle to produce the funds required to get their dApps off the ground. They have design a solution, App Staking Promotion, to provide even more accessibility to developers & 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.
App Promotion: How It Works
Moreover, App promotion an application for transaction sponsoring, which is financially powered by inflation & staking. Users stake their funds in exchange for rewards. Afterward, immediate rewards are generate 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 guarantee portion determine 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. Also, 50% of the fees are divided between stakers proportionally to their staked amounts & 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 the ecosystem & helps them build their dApps while ultimately generating more fees for the network, which then go back to the Treasury.
About Unique Network
The Unique Network an infrastructure for the next generation of NFTs. The first NFT chain for Kusama and Polkadot. The Unique Network offers developers independence from high network transaction fees, dense upgrades, and siloed NFTs. The UniqueNetwork has partners with numerous NFT projects to deepen the integrations needed to expand NFT use cases & usability. Partners like Art Curator Grid, XP Network, UN-Habitat, & SupraOracles. Unique Network was responsible for Polkadot’s first NFTs, Substrapunks.
