Only1

price
change

Discover Only1's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Only1?

Only1 (LIKE) is a cryptocurrency token powering a decentralized social media platform built on the Solana blockchain. It enables creators to monetize their content directly through innovative mechanisms like Creator Genesis-NFT and staking, allowing fans to support and engage with creators without intermediaries. The platform also features Content-NFT farming, where exclusive content can be accessed through NFT purchases or unlock fees.

How is Only1 used?

Only1 (LIKE) is a cryptocurrency used on the first NFT-powered social media platform built on the Solana blockchain. The platform allows creators to monetize their content directly without relying on third-party intermediaries. Here are some key ways the LIKE token is used:

  1. Creator Staking Pools: Users can stake LIKE tokens on individual creators, earning a split of the staking pool rewards. The APY (Annual Percentage Yield) adjusts based on the creator's engagement with their fan base.

  2. Content-NFT Farming: Creators can post exclusive content as NFTs, which users can purchase. Those who buy the NFT can view the content, and others can pay an unlocking fee to access it. Part of this fee goes to the creator and the content-NFT owner.

  3. Governance: The LIKE token and NFTs grant holders unique access to the creators and allow them to participate in governing the platform.

  1. Marketplace Transactions: The LIKE token is used for transactions within the marketplace, where users can buy, sell, and trade NFTs.

  2. Token Burn Mechanism: Transaction fees in the marketplace are used to burn LIKE tokens, which helps maintain the token's value.

These mechanisms create a decentralized and community-driven social media platform where creators can earn directly from their content and users can engage with them without giving away personal data.

How do I store Only1?

To store Only1 (LIKE) tokens, you have several options:

  1. Exchanges' Wallets: You can store your Only1 tokens on exchanges like KuCoin, Binance, or Gate.io. This provides convenient access to trading and other investment products.

  2. Crypto Wallets: You can also store your Only1 tokens in crypto wallets like Trust Wallet. This allows for more control over your assets and can be used for long-term storage.

  3. Cold Wallets: For maximum security, consider using cold wallets. These are offline wallets that are less susceptible to hacking and other security risks. They are ideal for long-term storage and minimizing the risk of losing your funds.

How to buy Only1?

To buy Only1 (LIKE) tokens, you can follow these steps:

Buying on a Centralized Exchange (CEX)
  1. Register and Verify Your Account:

    • Sign up on a centralized exchange like KuCoin or Binance with your email address, mobile phone number, and country of residence.
    • Create a strong password and ensure stronger protection by setting up Google 2FA, anti-phishing code, and a trading password.
    • Verify your identity by providing personal information and uploading a valid Photo ID.
  2. Add a Payment Method:

    • Add a credit/debit card or bank account after verifying your account.
  3. Buy Stablecoins:

  • Use your added payment method to buy stablecoins like USDT, ETH, or BNB.
  1. Transfer to the CEX:

    • Transfer the purchased stablecoins to the CEX that supports Only1 (LIKE) trading in the spot market.
  2. Buy Only1 (LIKE):

    • Use the stablecoins to buy Only1 (LIKE) in the spot market.
Buying on a Decentralized Exchange (DEX)
  1. Choose a DEX:

    • Go to a decentralized exchange (DEX) that supports Only1 (LIKE) trading.
  2. Set Up a Web3 Wallet:

    • Download and install a Web3 crypto wallet like Metamask or Trust Wallet, which is supported by the DEX.
  3. Transfer Mainnet Cryptocurrency:

  • Transfer the mainnet cryptocurrency (e.g., ETH or BNB) to your self-custody crypto wallet address.
  1. Connect to the DEX:

    • Connect your wallet to the DEX by clicking "Connect Wallet" and following the instructions.
  2. Swap for Only1 (LIKE):

    • Find the "Swap" option on the DEX, select the token you want to trade from, and Only1 (LIKE) as the token to receive.
    • Enter the amount and confirm the swap.
Storing Only1 (LIKE)
  • You can store your Only1 (LIKE) tokens in your KuCoin account for quick access to trading products.
  • Alternatively, you can use a Web3 wallet like Metamask or Trust Wallet for self-custody storage.

Remember to be cautious of scams and ensure you are using the correct contract address for Only1 (LIKE) on the DEX.

Discover
Only1
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of Only1

The history of Only1 (LIKE) is marked by its innovative approach to social media and the creator economy. Founded by Leon Lee, a genetic engineer turned blockchain entrepreneur, Only1 aims to revolutionize the way creators interact with their followers and monetize their content. Built on the Solana blockchain, the platform leverages NFTs and DeFi mechanisms to provide a more direct and rewarding experience for both creators and fans.

Only1's core features include the Creator Genesis-NFT, which allows creators to mint unique NFTs associated with exclusive perks, and Content-NFT farming, where creators can sell exclusive content as NFTs and earn revenue through unlock fees. The platform also incorporates staking and token burn mechanisms to incentivize engagement and maintain a healthy token economy.

In terms of market performance, Only1 has experienced significant price fluctuations. Historical data shows that the token has traded at various price points, with predictions suggesting a potential long-term increase in value. Technical analysis highlights the importance of trend lines, relative strength index, and moving averages in understanding market sentiment and identifying potential buy and sell signals.

The project's community is active, with a notable presence on Telegram and GitHub. Social media signals indicate a growing interest in the project, despite a relatively small follower base on certain platforms. Only1's market capitalization and trading volume have also been tracked, providing insights into the token's overall market performance.

Overall, Only1's history is characterized by its pioneering approach to social media and the creator economy, as well as its efforts to build a robust and engaging ecosystem for users.

Discover
Only1
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How Only1 works

Only1 (LIKE) is a cryptocurrency project that operates as the first NFT-powered decentralized social platform built on the Solana blockchain. Here's how it works:

Key Features
  1. Creator Staking Pools: Content creators can monetize their work directly without relying on third parties. They earn rewards based on their activity across various social media platforms. This is achieved through creator staking pools, where the creator earns a percentage of the total value locked, and the APY (Annual Percentage Yield) changes depending on their activity level.

  2. NFT Applications: There are two types of NFTs: Genesis NFTs and Content NFTs. Genesis NFT holders earn a split of the creator's staking pool, while Content NFT holders earn a split of tokens used to unlock the content by other users. These NFTs can be traded on the platform's marketplace.

  3. Decentralized Governance: Only1 incorporates a decentralized autonomous organization (DAO) that regulates community guidelines and platform development. This ensures a balance between safety and freedom of expression, as decisions are made by the community rather than a single corporation.

  1. Paid DM Function: Users can pledge LIKE tokens along with their messages to creators. The creator only receives these tokens if they respond, making it easier for creators to interact with genuine fans and filter out spam messages.

  2. Social Governance: The community has a say in the content and creators on the platform. If enough stakers vote down on a creator or their content, the creator's earnings decrease, and the content may be removed.

Technology and Blockchain

Only1 is built on the Solana blockchain, which provides scalability and low gas fees. This allows for micro-transactions, making it feasible for mainstream creators and fans to use the platform without high transaction costs.

Token and Earnings

The native token, LIKE, is used for various activities on the platform, including buying and selling NFTs, earning rewards, and participating in governance. Users can earn LIKE tokens by engaging with content creators, purchasing NFTs, and participating in the platform's features.

Staking and APY

Staking involves holding funds in a cryptocurrency wallet to support the blockchain network. In return, users earn rewards. Only1 offers a high APY of 55.0% for staking LIKE tokens, providing a significant incentive for users to participate in the network.

Overall

Only1 aims to revolutionize the social media landscape by providing a decentralized platform where creators can monetize their work directly and users can engage with them in a more meaningful way. The project leverages NFTs, staking, and decentralized governance to create a community-driven ecosystem.

Discover
Only1
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Only1's strengths

The token Only1 (LIKE) has several strengths that contribute to its potential value and growth:

  1. Buyback and Burn Mechanism: The platform uses a significant portion of its revenue to buy back and burn LIKE tokens, which helps reduce the token supply and increase its value over time. This mechanism is designed to reward users and creators while maintaining the token's sustainability.

  2. Community Rewards: Users are incentivized through creator staking pools and event-based airdrops, which drive engagement and adoption. These rewards are initially funded from a community token pool and later from quarterly profits, ensuring a continuous flow of incentives.

  3. NFT-Powered Social Media: Only1 is built on Solana, a scalable blockchain, and leverages NFTs to connect creators and users directly. This eliminates the need for intermediaries, allowing creators to monetize their content more effectively. The platform includes features like Creator Genesis-NFTs and Content-NFT farming, which enhance user engagement and provide additional revenue streams.

  1. Competitive Edge: By offering lower fees compared to traditional platforms like Patreon and OnlyFans, Only1 aims to attract more creators and users. This competitive advantage can lead to increased adoption and higher token value.

  2. Technical Innovations: The platform is integrating AI technology, including deep fake detection and gasless transactions, to improve user experience and content categorization. These innovations can help Only1 stay ahead in the SocialFi sector.

  3. Strong Partnerships: Only1 has secured significant investments from prominent companies like Animoca Brands and has partnered with Alchemy Pay to facilitate seamless onboarding and payments. These partnerships can contribute to the platform's growth and credibility.

These strengths collectively position Only1 as a promising project in the SocialFi sector, with a focus on creator monetization, user engagement, and technical advancements.

Only1's risks

Only1 (LIKE) carries significant financial risks due to its high volatility and susceptibility to market manipulation. The token's risk score, as assessed by InvestorsObserver, indicates that it is a moderate to high-risk investment. This is primarily because the token's price can be easily influenced by changes in volume and market capitalization, making it vulnerable to market fluctuations.

Additionally, high-leverage trading options, such as those offered by CoinUnited, can greatly magnify the risks associated with investing in Only1. This means that investors could potentially lose substantial amounts if the market moves against them.

Furthermore, the value of Only1 is influenced by numerous market factors, making precise future price predictions challenging. As with any cryptocurrency, investing in Only1 involves risk, and it is essential to conduct thorough research and consult with a financial advisor before making any investment decisions.

Discover
Only1
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did Only1 raise funds?

Discover
Only1
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Only1’s team

  • Leon Lee: Founder and CEO of Only1, a genetic engineer who has led the development of the platform.
  • MOJO: Chief Marketing Officer (CMO) responsible for marketing strategies and campaigns.
  • Dan L.: Senior Engineer, contributing to the technical development of the platform.
  • Damir C.: Design Lead, overseeing the visual and user experience aspects of Only1.
  • Akira Fukushima: Blockchain Engineer, working on the blockchain integration and NFT features.
  • Kobby P.: Blockchain Engineer, supporting the development of blockchain-related components.

Whalee AI

The fundamental analysis assistant for crypto value investors.

Only1 NEWS REPORT

Latest news

Want an analysis of Only1? Tell us on discord.

Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM