Unicly, a permissionless protocol to combine, fractionalize and trade non-fungible tokens (NFTs), has just announced it is entering into a partnership with SushiSwap, a multi-chain AMM that supports decentralized trading, lending and borrowing across the top 14 EVM blockchains, aimed at implementing an auction mechanism for fractionalized NFTs.
As a result of the cooperation between both projects, Unicly will be able to integrate SushiSwap’s powerful auction solution.
How does the Unicly protocol work? In few words, fractionalized NFT collections are wrapped into “uTokens,” which are then traded on Unicly’s exchange. This way, users can trade fractionalized NFTs in a very easy way.
Thanks to the integration of MISO, a suite of open-source smart contracts allowing anyone to roll out new DeFi projects and list their tokens on the SushiSwap exchange, Unicly users will be able to buy uTokens at the best price possible.
On top of that, uToken creators will also be able to raise capital through the MISO action, meaning they will not have to front all the capital to provide liquidity.
The first uToken MISO auction will be that of new Genesis Mooncats Collection on Unicly (uGMC). It will take place at 11 AM Eastern Time on July 5.