Solo1 (LIKE) is an NFT social networking platform developed on Solana. The venture assists creators monetize and enables supporters to connect with creators they like in a special way: Decentralized Patreon, go through additional about Create-to-Earn (C2E) right here. Creator staking pools make it possible for the two customers and creators to create income, LIKE repurchased will be integrated in creator staking pools in beta products to maximize APY.
Buyback Mechanism
Onlyone Initial NFT Offering (INO) is launched on October seven, 2021.
25% of the SOL collected will be applied to acquire LIKE every single week for four weeks.
Acquisition date: October 17, 2021 – November 14, 2021.
Transparency: At the finish of every week for the duration of the occasion time period, the venture will announce the complete amount of LIKE acquired.
For instance:
Only one INO earns SOL ten,000. During the initial week, SOL two,500 will be offered towards USDC and USDC will be applied to acquire $ LIKE from markets this kind of as Raydium employing the time-averaged selling price (TWAP). If the regular selling price of SOL is $ 200 and the regular selling price of LIKE is $ one, then two,500 SOL will be invested to order 500,000 LIKE.
Use LIKE regained to maximize APY
Each creator on Onlyone will have their personal staking pool and the APY varies primarily based on the creator’s exercise. Users can bet LIKE in pools to earn rewards. Each creator has only one genesis-NFT, every month its proprietor earns .five% of the TVL of the pool. Repurchase tokens will be extra straight to the reward which will enable the staker earn additional.
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