Users can support the network by holding UNQ tokens and participating in the UNQ staking program. It’s a simple process allowing users to increase their capital while supporting the Unique Network ecosystem and sponsoring dApp transactions.

Start staking UNQ!

UNQ Staking Benefits

The main focus of their initial release is to assist UNQ token holders in growing their token holdings through compound interest. For instance, if you stake 1000 UNQ tokens, you will accumulate 0.5 UNQ tokens daily at 0.05%.

However, these tokens are compounded immediately, accumulating 0.50025 UNQ tokens the following day instead of just 0.5 UNQ tokens. This mechanism enables you to achieve an annual percentage yield (APY) of roughly 20%. They source this yield from the Treasury to encourage more token holders to participate and generate it through inflation.

Partial Unstake UNQ While Continuing to Earn Rewards on the Remaining Staked Tokens

Partial unstaking a unique feature that allows users to partially liquidate a percentage of their staked tokens. It gives users greater flexibility and control over their staked assets as they can withdraw a portion of their staked holdings while keeping the remaining amount staked.

Users can unstake UNQ tokens at any time, and the tokens will be sent to their wallet within a one-week period. So while it takes a week to release funds, users can profit from sponsoring dApps transactions while remaining free to unstake their tokens anytime circumstances change.

This enables more effective fund management, allowing users to access liquidity when needed while still earning staking rewards on the remaining staked assets. Partial unstaking can mitigate the risk of slashing penalties when users unstake their entire balance, reducing the amount of unstaked assets.

UNQ Staking: How to Get Started

Alternatively, please follow these steps:.

1. Visit the Polkadot/Substrate Portal, where you’ll arrive at the ‘Unique network’ under the ‘POLKADOT & PARACHAINS’ tab.

2. If you don’t have an account, you can quickly create one from the ‘Accounts’ page. Or add one using the Polkadot(.JS) chrome extension.

3. From the Developer menu, select ‘Extrinsics.’

4. From the provided pallet list, select the appPromotion pallet.

5. Select the stake extrinsic from the list of pallet function calls.

6. Set your desired staking amount.

However, please note:

• The amount provided is expressed as a whole number of 1018 of the token value. So if staking 1300 UNQ, add eighteen zeroes to the specified staking amount (1300000000000000000000).
• The minimum required is 100 native tokens.
• You can have ten active stakes per wallet.

7. Submit the transaction.

How to Confirm you’ve Staked our UNQ Tokens

Upon staking the UNQ tokens, follow the steps below to confirm the staking process:

1. Visit the Accounts section
2. Choose your account
3. Click on show more
4. Check the locked section. Ensure the number of staked tokens is identical to your chosen amount of UNQ tokens staked.

The unstaking process is:

1. From the Developer menu, select Extrinsics.

2. From the provided pallet list, select the appPromotion pallet, then select the unstake extrinsic from the list of pallet function calls.

Remember that unstaking resets the limit counter.

*Also, notice the partial unstaking option.

3. Submit the transaction

What to Expect in the Future

They have a significant launch planned imminently, the ‘Unique Staking Hub.’ The hub will provide a quick and convenient way to stake UNQ and QTZ tokens from one easy-to-use interface.

AppPromotion features will be integrated into Unique Staking. They intend to allow UNQ/QTZ owners to impact the sponsorship of apps and earn additional rewards as the promoted dApps grow more prosperous.

About Unique Network

Unique Network an infrastructure for the next generation of NFTs. The first NFT chain for Kusama and Polkadot, Unique Network offers developers independence from high network transaction fees, dense upgrades, and siloed NFTs. The Unique Network team has partnered with numerous NFT projects in order to deepen the integrations needed to expand NFT use cases and usability, like Art Curator Grid, XP Network, UN-Habitat, and SupraOracles. Unique Network was responsible for Polkadot’s first NFTs, Substrapunks.

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Subsquid & UniqueNetwork Join Forces. NFT technology today enables innovators to solve pertinent problems across industries. Today, they are glad to announce the partnership with Unique Network, an industry leader in bringing NFT infrastructure to enterprises and forward-thinking developers. They’re proud to join the Unique team in creating a better experience for builders of next-generation NFTs through improved dev tooling.

At Subsquid, we have always strived to empower builders working on next-gen NFT use cases. Our indexing toolkit, squid SDK, is the quickest, most dev-friendly way to build custom indexers and ETLs that access and aggregate on-chain data, including from Unique, and its canary network, Quartz, and the Opal testnet. Developers and analysts can learn how to work with Unique, Quartz, and Opal NFT data by visiting Subsquid’s official documentation.

• Unique Network Archive
• Quartz Network Archive
• Opal Network Archive

Unique Network is the next-generation NFT chain built for advanced use cases and mass adoption. Along with its Kusama sister chain, Quartz, Unique provides scalable and dev-friendly infrastructure for more advanced NFT use cases. The network is EVM and supports advanced NFT functionalities like nesting, fractionalization, bundling, and re-fungibility.

Subsquid launched squid Archives for Unique, Quartz, and Opal, meaning builders can freely use squid SDK on these networks. Since then, Unique Network built a block explorer using these tools. Uniquescan has already become an essential part of the building experience on Unique.

Going into the future, we’ve agreed with the Unique Network team to join forces on continuing to bring developers into the ecosystem through ongoing tooling improvements and developer relations efforts. We will share news of these initiatives across both projects’ official social media channels.

About Unique Network

Unique Network provides enterprises with scalable NFT-specific solutions through advanced tools, such as a unified SDK, allowing creators to capture real-world value on the blockchain.

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About Subsquid

Subsquid developing the go-to indexing solution for the Polkadot and Kusama ecosystems. Led by its core principle of building scalable and intuitive systems. The Subsquid solves a common issue for parachain projects: extracting and processing on-chain data.

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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.

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