Learn about the Only1 & Take a Short Quiz to Earn $LIKE
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Learn about the Only1 & Take a Short Quiz to Earn $LIKE

Created 10mo ago, last updated 8mo ago

Learn about the Only1 & take a short Quiz to get rewarded for your newfound knowledge!

Learn about the Only1 & Take a Short Quiz to Earn $LIKE

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CoinMarketCap users can learn about Only1 (LIKE) and take a short quiz to get rewarded! The Only1 (LIKE) reward tokens will be distributed randomly among the users who complete the quiz successfully before the campaign concludes.

The Only1 (LIKE) “Learn & Earn” Campaign's reward pool consists of Only1 (LIKE) tokens worth $200,000. Successful users will receive Only1 (LIKE) tokens worth $5 as well as 50 Diamonds as a reward!

The Only1 “Learn & Earn” Campaign will run from 2021.11.23 (11:00 AM UTC) to 2021.12.22 (23:59:59 PM UTC). Make sure to take the following lessons to complete the quiz!

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CoinMarketCap Only1 Learn & Earn Quiz

If you have trouble submitting the quiz, please try again at this dedicated link: https://coinmarketcap.jotform.com/213254275468965
The Only1 “Learn & Earn” Campaign will run from 2021.11.23 (11:00 AM UTC) to 2021.12.22 (23:59:59 PM UTC) and Quiz will be live at 11:00 AM UTC, November 23rd.

Only1 Learn & Earn Quiz's Answers

1. What problem(s) is Only1 trying to solve? [Hint]
a. Traditional social media platforms profit heavily off their users - both creator and audience alike
b. Traditional social media platforms exploit users’ personal data
c. Traditional social media constantly shift their algorithms to control what we see
d. All of the above

*Answer & Explanation: Only1 is an NFT-powered social media platform built on Solana. Traditional centralized social media platforms such as Facebook, Instagram, or YouTube profit heavily off their users — creator and audience alike. From exploiting user’s personal data, to the constantly shifting algorithm which controls what we get to see, plus the relentless demonetization and censorship of content creators, the web2 social space is in dire need of innovation and decentralization.
2. Only1 allows content creators to monetize directly by simply being active and engaging across various social platforms, what do we call this? [Hint]
a. Engage-to-earn
b. Social-to-earn
c. Create-to-earn
d. Generate-to-earn

*Answer & Explanation: We allow content creators to monetize directly by simply being active and engaging across various social platforms (think decentralized Patreon), and users can engage with and support their favorite content creators, without giving away their personal data whilst being able to earn as they engage. we call this Create to Earn (C2E).
3. What features do Only1 offer? [Hint]
a. Novel NFT Applications : Genesis-NFT and Content-NFTs
b. Creator Staking pools
c. Marketplace
d. Initial NFT Offering (INO) Launchpad
e. DAO Governance and Paid DM
f. All of the above

*Answer & Explanation: We allow content creators to monetize directly through Creator Staking pools and two novel NFT applications - Genesis-NFT & Content-NFT. Creators and Users can trade these NFTs in our marketplace. We also offer Initial NFT Offering, or “INO” launchpad, its a new cryptocurrency crowdfunding innovation — based on the concept of Initial Coin Offering  — that involves offering a set of limited edition NFTs for sale via the Only1 INO Launchpad. Other features including DAO Governance and Paid DM are also in our roadmap.
4. On Only1, each creator will have (    ) Genesis-NFT where they can associate perks with these NFTs. The owner will earn (     ) of the creator’s staking pool TVL. [Hint]
a. 1, 1%
b. 1, 0.5%
c. As many as they like, 1%
d. As many as they like, 0.5%

*Answer & Explanation: Each onboarding creator has 1 special NFT called Genesis-NFT. Creators can associate perks with these NFTs, for example “If you own my genesis NFT, I will be your trading mentor”. The owner will earn 0.5% of the creator’s staking pool.
5. What factors affect the APY of a creator staking pool? [Hint]
a. How famous the creator is
b. How attractive the creator is
c. How many shout outs/paid ads does the creator do
d. How active the creator is across social platforms

*Answer & Explanation: Each onboarding creator has their own staking pool with APY that changes according to how active they are across social platforms, the creator also earns a 1% of the total value locked (TVL). So the more active they are, the more they earn. This is our unique Create-to-Earn (C2E) model.
6. What is the name of our native token? (Short Question)
Correct Answer: LIKE / https://coinmarketcap.com/currencies/only1/
7. For Premium Content-NFTs, users can pay a small ‘unlock fee’ in $LIKE, each unlocking fee will be split between (    ). [Hint]
a. The creator, Content-NFT owner and Only1 platform
b. The creator and Content-NFT owner
c. Content-NFT owner and Only1 platform
d. The creator and Only1 platform

*Answer & Explanation: Creators can upload and mint premium content NFTs, users can either purchase the NFT or pay an ‘unlock fee’ to see it with $LIKE, our native token. Every unlock fee paid by the users, will be split between the creator, the Content-NFT owner and the platform. Each unlock also gives the user a lottery ticket for a chance to win more in return.
8. Initial NFT Offering (INO) is a new cryptocurrency crowdfunding innovation pioneered by Only1. What are the benefits of doing an INO? [Hint]
a. Community can vote for promising projects to be listed on INO launchpad, providing exposure to potential investors
b. Inherent supply scarcity of the NFTs, increasing their investment return
c. Both projects and investors can benefit from the low transaction fee
d. All of the above

*Answer & Explanation: From ICO to IEO & IDO, INO (Initial NFT Offering) is a new cryptocurrency crowdfunding innovation pioneered by Only1. It involves offering unique NFTs for sale via our INO Launchpad. Why do we need INO? What are the benefits of doing an INO you ask? Projects can not only raise funds before realising their ideas; Only1 also allows the community to vote for promising projects to be listed on the launchpad, hence providing exposure to potential investors; thirdly, Solana is known for its minimum transaction fees which benefits both creators and investors; finally, INO empowers participating investors to benefit from the inherent supply scarcity of the NFTs, increasing their investment returns.
9. Only1’s INO: The ONES offered (     ) unique mints at the price of (       ). [Hint]
a. 1,000, 1 $SOL
b. 1,000, 1000 $LIKE
c. 10,000, 1 $SOL
d. 10,000, 1000 $LIKE

*Answer & Explanation: For Only1's INO: The ONES. We offered 10,000 unique Only1 NFTs for 1 $SOL each. Lottery is used for allocation. All $SOL raised were used to buy back $LIKE, our native tokens, and added to the reward emission to give back to our early users.
10. What NFTs can users sell on Only1’s marketplace? [Hint]
a. Genesis NFTs
b. Premium Content NFTs
c. INO NFTs
d. Other NFTs
e. All of the above

*Answer & Explanation: Creators and users can sell / trade their Genesis-NFTs, Content-NFTs, INO NFTs and other NFTs on our marketplace with our native token $LIKE. On the top of the Marketplace tab, you can search for your favorite creator or creators from a particular genre. You can also specify to filter out only Genesis-NFTs, Content-NFTs or NFT collections. NFTs can be sorted by price, Avg. daily reward, etc.
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