Place/Date: - September 2nd, 2021 at 1:00 pm UTC · 4 min read
Contact: AscendEX, Source: AscendEX
AscendEX, a global digital asset trading platform with a comprehensive product suite, is thrilled to announce the listing of the Only1 token (LIKE) under the pair USDT/LIKE on Sept 2 at 1 p.m. UTC. In celebration of the LIKE listing, AscendEX and the Only1 team will jointly launch four limited-time promotional events, taking place between Sept 2, 1:00 a.m. and Sept 9, 12 a.m. UTC, offering pooled rewards worth up to 90,000 USDT!
Only1 is the first NFT-powered social media platform built on Solana. They aim to target social media users who want to feel more connected with content creators and creators who want to monetize their content more directly. Only1 has created solutions for these user types through two innovative NFT applications, Genesis-NFT and Content-NFT, both of which provide users the ability to earn rewards for holding them. Only1 encourages social engagement by providing opportunities for asset holders to earn income while creators share content and fans engage with it.
Each onboarded creator can mint one Genesis-NFT. Each content creator will have their own staking pool that produces LIKE tokens that are distributed to staking users, the creator, and the Genesis-NFT owner. Users can stake tokens in creator staking pools with APYs that correlate to the creator’s platform activity. The APY calculation algorithm is continually updated to optimize for maximum social engagement and fair rewards distribution for all users. When calculating the APY, the algorithm considers metrics such as daily logins, frequency of posting content, DM responses, fan engagement, and NFT minting activity.
Creators can post exclusive content in the form of NFTs (Content-NFTs) that users can trade on the Only1 marketplace. Content-NFTs are available for purchase and are unlockable, meaning a user can buy the Content-NFT to own the content, and other users can pay a small unlocking fee to view the content. The unlock fees are then distributed to the creator and the Content-NFT owner.
LIKE tokens are the native token of the Only1 platform and can be used for staking in creator staking pools, minting NFTs, and trading NFTs on Only1’s marketplace, unlocking content, and as a governance token for the protocol. It is also the token used to reward staking users and NFT holders. Additionally, there is a token burn mechanism built into every transaction that contributes to the overall price of the LIKE token.
AscendEX is committed to and supportive of the NFT community and has listed 11 NFT projects thus far including. By providing a platform to list NFT-based tokens, AscendEX has empowered its community to get more actively involved with NFT projects like Only1.
AscendEX (formerly BitMax) is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.
AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage.
To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit official website.
Only1 is the first NFT-powered social media platform built on Solana that connects creators and users while providing yield for token holders via two novel NFT applications – Genesis NFT and Content-NFT.