What Is Solily Protocol (LILY)? Complete Guide Review About Solily Protocol.

What Is Solily Protocol (LILY)?

Spanning over multiple months, the full Series 1 collection was sold to the public. It had more than 25 different designs which allowed Solily Protocolhe first Naru collection was teased – a set of 10,000 procedural algorithmically generated NFTs made for profile pictures. After a month of never-ending waiting (where the now famous “Wen?” GIF came to life), the collection dropped and it was an instant success, selling out in a mere 20 minutes.

It quickly became one of the most popular NFT collections on Cardano, with many people using it as their profile pictures on Twitter, Discord, etc. Solily Protocol collection inspired an abundance of fan art, along with full derivative collections such as Poisson Yummi or Yummibits. Many other Cardano collections also incorporated Naru into their artwork or even incorporated it into their collections as an attribute. (Derp Birds, Mutant Crocs, Project Wights and many others).

On the 8th of October a strange and spoopy message was posted which would lead to the release of the Spoopy Solily Protocol collection – a Halloween themed drop of 10,000 Naru which would instantly strike fear into anyone who would dare to look at them. At first intended to be a purely fun collection with no planned utility, the community voted to continue through seasonal drops with a burning mechanism, where one Seasonal Naru needed to be sacrificed in order to replace it with an NFT from a brand new collection, thus limiting the supply of the seasonal collection at 10,000 NFTs.

Solily Protocol Storage Key Points

Collaborations & Yummi Pool

On top of the collections mentioned above, Solily Protocol has also worked on multiple collaborations, notably one with SundaeSwap, featuring Naru and Neku wearing their best bandanas. But that’s not all, other collaborations include:

• An Ada Dolls collaboration with 4 designs of different rarities.
• A CNFTCon collaboration, where holders each received one of 5 variations of a special Naru.
• A Project Wights collaboration with Naru as a godfudder spirit in their Ichimi NFT.
• A Dream Space Festival (by Shook Boyz) collaboration raising awareness on mental health and suicide prevention.
• A Metadams collaboration, where holders of a Solily Protocol NFT will be able to play as Naru.

Token

Along with a large and ever growing NFT collection representing in-game assets, a utility token will be issued on the Cardano blockchain serving as your main currency. This will be available by various means such as airdrops, staking, P2E mechanics and more. The token will be used to power different features throughout the ecosystem. Solily Protocol these uses will be intertwined with gameplay, spending and earning $Yummi along with your in-game progression. Other uses for $Yummi include staking, governance and more as they evolve. Your primary goal is to provide constant utility to your userbase with new and exciting features. Initially only a very small percentage of the total $Yummi supply will be airdropped to initiate tokens into circulation, mostly for Series 1 NFT holders.

However, this is not the main $Yummi distribution method, but more of a gift and a head start to Yummi Universe’s most loyal fans. Your goal moving forward is to continue the trend that was set by the 10K PFP Naru and Seasonal 10K Naru collections of being top notch in terms of distribution. The Solily Protocol team acknowledges that this is not the only relevant metric, however it’s one of the most important. For this reason, the first way of obtaining new tokens will be through the staking of Naru. This can be considered an initial offering through NFT staking and believe this is a novel way of doing it on Cardano.

Staking

Naru NFTs from the 10K PFP and Seasonal 10K collections can be staked in The Village webapp powered by Cardano smart contracts, locking them away for a period of time, with a $Yummi token reward being sent at the end of the staking period. Solily Protocol amount of tokens you receive is proportional to the rarity of the item attributes of the NFT staked. Staking through smart contracts means that your Naru will not be visible in your wallet (Eternl, Nami, Daedalus, etc.), nor on pool.pm while the staking period is underway.

However Solily Protocol website allows you to see all Naru that you have currently staked, as well as an overview of which Naru other users of The Village currently have staked. At first, an estimate of 50,000,000 tokens will be distributed on a monthly basis, split between 80% for 10K PFP Naru and 20% for Seasonal 10K Naru. This amount will decrease slightly each month as other features get implemented into The Village webapp and P2E game.

Staking Rewards

As mentioned before, the collective rarity of the headwear, body and face attribute will make up the total staking reward of a Naru. There are a total of 10 rarity ranks that items will fall into. Solily Protocol rarity rank of each attribute determines the multiplier that the attribute adds to the total staking reward. The higher the rank of an attribute, the higher the reward percentage will exponentially increase.

When the staking period is over, you will automatically receive the Solily Protocol reward in the same wallet you used to sign the staking smart-contract. You will get the exact staking reward that was signed in the contract, even if the staking rewards was changed during the staking period.