Here’s our 127th AMA recap!
Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with UniArts September 29, 2021. This guest star,
- Matias Ayala — Global Markets Representative
Introduction
Matias Emanuel :
my name is matias, Global Markets Representative of @UniartsNetwork.
Today I would like to introduce you to Uniarts, and how we want to change things in the NFT world for the better.
QUESTIONS MODERATOR
You might be wondering what Is Uniarts and how does it work?Matias Emanuel :
UniArts is a decentralized incubation system for creators and art collectors. Uniart’s is a blockchain network developed with Substrate which provides NFT infrastructure, community voting incentives, DAO curation, and art grants, with an end goal of the democratization of art. UniArts builds a decentralized NFT gallery to not only feature established artists, but also to serve as a platform to exhibit and promote artwork that is loved by the community. For creators: Create NFTs with your work and bind with curators (validator) nodes. For community appreciation: staking UARTs and voting for preferred NFTs. Both will be rewarded by UniArts’ token economy, with the most popular works will receive extra grants and support. Powered by Substrate, UniArts’ NPoS mint portion of the block helps reward NFTs that bind with validators by their creators. NFT owners may choose to pin the NFT on their address to receive UARTs. Nominators vote for NFTs instead of nodes to gain staking rewards.
What is the ultimate goal of UniArts and how do we distinguish ourselves from other NFT platforms?Matias Emanuel :
Our ultimate goal is to provide the sort of NFT infrastructure, community voting, DAO curation, and art grants that allow for the true democratization of art.UniArts’ focus and goals vary from the majority of NFT platforms. We are all about voting, selecting, and incubating hidden gem artists and promoting their appreciators to trade and discover more of them. Estabilished artists will also find great value in UniArts, though they are not the main focus, which is another unique aspect of our model.
Why for us on UniArts‘ Art Formula on polygon is important?Matias Emanuel :
UniArts is at the forefront of offering tools to make the adoption of NFTs by artists a seamless process. It has actively created a safe haven for artists to tokenize and mint their arts to NFTs, then sell to collectors. The features within the ecosystem are mind blowing.UniArts will launch its Impossible Art Formula on Polygon, which hosts highly demanded NFTs. As a gallery, NFT art enthusiasts can trickle in to vote for the NFTs displayed.
To vote on their favorite NFTs, UniArts token holders will use their tokens, which will go to the owners of the NFTs. Another means of earning rewards in this gallery is through the additional auction rewards that accompany the deal price of NFT in the auction round. There is a directly proportional relationship between the deal price and the reward level, meaning that the higher the deal price, the higher the potential rewards.
UniArts is incorporating a new feature, Appreciative Mining, which rewards NFT artists and improves their popularity within the space. Through the votes of other community users, NFT creators and owners are rewarded.By launching the Gallery on Polygon, more people will be encouraged to vote on their favorites because they do not have to spend a lot on gas fees. It is a win-win situation for all community members. Art lovers can bask in the beauty of art works while artists are rewarded with votes and popularity.
The Impossible Art Formula by UniArts on Polygon will be available around Sep 30, 2021.As a hub for NFT artists, UniArts will continuously add new features on its ecosystem to improve the user experience of every participant, from the artists down to collectors.
How does UniArts work, and what special functions we have?Matias Emanuel :
People in social media click “like” or “dislike” with out any cost, yet it may suggest the Popularity of an artwork. But what if every “like” vote actually cost something?
In UniArts, people need to “staking” UniArts token, UART, to vote for an artwork. Staking and vote won’t cost any token, but they will lose at least 28 days of liquidity, which means people can not transfer or sell their tokens during this period. So in a way, their is a potentially cost for every vote. So if that’s the case, why would anyone vote any way?Because there is a compensation for their lost of liquidity, they will be reward some tokens for their staking and votes. If the art work is sold after the vote, they will be reward extra tokens, the higher the price, the more token will be rewarded. So everyone will be carefully choose the artworks that they believe would sold well.
How will UniArts help creators?Matias Emanuel :
Helping creators is one of our key missions. We hate that the artwork market is currently being monopolized by so few contributors. It is a shame to see so many talented artists being rejected by galleries and their works underestimated. In UniArts, artists don’t have to sell their works, being loved by people and being voted in will receive reward as well as a chance to receive art grants and get listed in offline curation. For creators and collectors, All you need to do is to mint your artworks with UniArts, and get it ready to be voted. Once started, the more votes your work receives,the more the tokens will be minted into the NFT of your work. This would provide further Inspiration for people to collect your work, because they can choose to pin the NFT on their address to retrieve tokens. If you want to keep your work, just pin the NFT with your own address, and you may retrieve the tokens.
TWITTER QUESTIONS
Q1. @ielfzaryBinance smart Chain blockchain is having high transaction speed and cheap gas fees, Are you planning to launch your mainet or switch to other blockchains in the future?
Matias Emanuel :
The UniArts Network can operate as an independent blockchain network once it has
transferred into NPoS. It is responsible for its own consensus security, with all functions and
services directly handled.
Q2. @ManishaRaviCha1How your Nft art is different?
What kind of features make it different can you share with us?
Matias Emanuel :
UniArts’ focus and goals vary from the majority of NFT platforms. We are all about voting, selecting, and incubating hidden gem artists and promoting their appreciators to trade and discover more of them. Established artists will also find great value in UniArts, though they are not the main focus, which is another unique aspect of our model.
Q3. @KiyokoSumaruUniArts is a decentralized incubation system for creators and art collectors, plagiarism of original artworks are the most problems in art world. So how Uniarts protect the creativity of artists? Will there be copyright laws or image recognition algorithms?
Matias Emanuel :
Whit our Rule + 1 :
● NFT owner may choose to pin the NFT on their address to earn UARTs. Explanation :
Motivations for purchasing NFTs include both investment and collection purposes. Pinning the
NFT onto one address will permanently eliminate its liquidity and remove its investment value. UARTs earned as such compensate for liquidity lose, which also makes UARTs a value vehicle
for artworks incubated by UniArts.
Q4. @back_richy440Is platform built up with global compatible or Is it limited for some regions in the world due to adult content & entertainment?
Matias Emanuel :
Yes, like all other crypto projects, UniArts have no Regional restrictions.
Q5. @PKragakDoes UniArts plan to support independent artists and small galleries? After being submitted, what will be the quality assessment process? Are there any special features that UniArts is building?
Matias Emanuel :
“One of the innovations we are most proud of is the implementation of Nominated Proof of Stake (NPoS) voting to “”crowd select”” some of the most desirable artworks and mint block rewards into NFTs. This will have a positive effect on liquidity and quality incentives.”
TELEGRAM QUESTIONS
what kind of security do you use against any attacks?Matias Emanuel :
Slash Algorithm
To prevent the network from attacks or unstable block validation, the system needs a way to
punish the validator and their voters. The slash algorithm does just that. In these instances, pledged tokens are slashed by a certain percentage. First, it is essential to confirm the
sequence and priority of the tokens being slashed. Unlocked tokens are the first to go. Next, the staking system follows the order of unlocking expiration, slashing those with the earliest
expiration dates.
can you give me more specific details of the nposMatias Emanuel :
Yes for sure ,
● Creator: Creators turn their digital artwork into NFTs and bind them with validator
(curator) nodes.
● Candidate: Candidates are invited by creators and are nodes in the UniArts network
that have competed to become a validator but have not yet achieved the official
qualification. Like validator nodes, candidate nodes need at least 0.1% of the total
staking circulation. Three NFTs are required, at a minimum, for candidates to be
eligible to receive votes.
● Validators (Curators): Validators set up nodes, stake UART, pack blocks, promote
NFTs, and update NFTs bound with nodes. They are responsible for maintaining the
network and can earn rewards for packaging blocks in the chain. To combat
inefficiency and dishonesty, the stakes put up are at risk of being slashed. 25% of the
total block reward to be minted into NFTs binds with the validator. The remaining
75% is allocated between the validator and their nominator. At the time of NPoS launch, the entire network will begin with 21 validators and can
accommodate up to 101. Each validator needs at least 0.5% of the total circulation of
UART votes and no more than 5%. The number of votes obtained by validators is the
sum of the votes received by the NFTs bound with them. Each validator needs to
update at least one of their three bound NFTs every 30 eras.
● Nominator: Nominators stake UART and nominate validators by voting for their
preferred NFTs. Initially, the top 21 candidates, sorted by volume of nominations, will be selected as validators, receiving block rewards for their efforts.
● Fisher: A fisher is responsible for minimizing the misbehavior of curators and creators. A couple of examples of this unacceptable behavior is impersonation or having offline
nodes. They also inspect validators; if one validator has not minted the required
volume of NFTs, the fisher can slash 3% of the total UARTs nominated for that
validator. If a validator mints NFTs in declining quality, the fisher may initiate a public
vote on said quality. Negative voting results can empower fishers to slash 5%. Slashed UART is all awarded to the fisher.
● NFT owner: NFT owners can choose to pin their NFT on their address to earn UART. Motivations for purchasing NFTs include both investment and collection purposes. Pinning the NFT onto one address will permanently eliminate its liquidity and remove
its investment value. UART earned as such compensates for liquidity loss, making
UART a value vehicle for artwork incubated by UniArts
What protocols does uniarts use?Matias Emanuel :
UIP-722：To allow NFT creators to define royalties payable for each NFT transfer. Allows NFT
DApps to issue smart contracts defining royalties as a percentage of sale prices. UIP-1156：To allow batch NFTs creation of the same metadata, and each NFT created maintains
independent interoperability
That will give a truly fair value to the NFTs within its platform?Matias Emanuel :
Voting with Cost
It sounds very good Right?, and I’m going to explain it to you, and as you as an art creator are interested in this.
Actually, it has a lot to do with you. All you have to do is mint your artwork with UniArts, and be ready to be voted on. Once started, the more votes your artwork receives, the more tokens will be minted in the NFT of your artwork.
This would provide more inspiration for people to collect your artwork, as they can choose to pin the NFT to their address to retrieve the tokens. If you want to keep your work, just anchor the NFT with your own address, and you can retrieve the tokens.
What are the rules to follow in uniart with the npos protocol?Matias Emanuel :
● Creator: Create NFTs with their artworks and bind them with curator (validator) nodes;
● Curator: Setup nodes, staking UARTs, inviting creators to bind NFTs to get elected as validator;
● Nominator: Anyone staking UARTs rewarded for voting;
● Fisher: Slashes misbehavior, including offline nodes or impersonators.
Also
1. Each curator may bind up to 3 NFTs eligible to be voted upon. One must be updated at least
every 28 days. Unbound NFTs cannot be binded with the same curator again. 2. Every 24 hours, the top 21 curators by number of votes received for their bind NFTs are
selected as validators for next 24 hours. 3. Staking rewards increase as more NFT votes are received. 4. 25% of total block reward minted into NFTs binds with the validator. Remaining allocated
between the validator and their
Rule + 1 :
● NFT owner may choose to pin the NFT on their address to earn UARTs. Explanation :
Motivations for purchasing NFTs include both investment and collection purposes. Pinning the
NFT onto one address will permanently eliminate its liquidity and remove its investment value. UARTs earned as such compensate for liquidity lose, which also makes UARTs a value vehicle
for artworks incubated by UniArts.
- Telegram Chat : https://t.me/uniarts
- Telegram Channel : https://t.me/uniartsnews
- Twitter : https://twitter.com/UniartsNetwork
- Website : https://uniarts.network/
- Medium : https://uniartsnetwork.medium.com/
- Github : https://github.com/uni-arts-chain
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about UniArts.
Join our Telegram Group and you can talk directly with other Communities and enjoy some of the events that we created. We are always here to support.
