Question 1

What is LIKE?

Accepted Answer

LIKE is a functional medium of exchange used among participants on the Only1 platform. Its terms position it for participation and exchange scenarios within the platform, rather than as equity in a corporate entity or a commitment to fixed returns or redemption.

Question 2

How does LIKE relate to content NFTs?

Accepted Answer

Only1's terms state that creators may publish content as content NFTs. In connection with that content, users may purchase an NFT or pay an unlock fee to view the content; these address different purposes and are not interchangeable. Purchasing an NFT is a transaction to acquire that NFT, whereas the direct purpose of paying an unlock fee is to unlock access to content. The terms state that unlock fees are distributed between creators and NFT holders; accordingly, unlocking creates content access and the related fee-distribution relationship, and does not necessarily mean that the payer acquires the content NFT.

Question 3

What is the purpose of staking LIKE?

Accepted Answer

LIKE may be staked into the staking pool of a designated creator. Staking does not operate independently of the creator: the pool centers on a particular creator and arranges rewards according to the rules applicable to that pool. The reward distribution described in the terms involves stakers, creators, and relevant Genesis NFT holders. Therefore, “staking LIKE” only describes a way of participating in the relevant pool; whether rewards are received, how much is received, and how they are distributed still depend on the pool rules and the interaction conditions described in the terms, and should not be understood as fixed or guaranteed returns.

Question 4

What is the purpose of a Genesis NFT?

Accepted Answer

A Genesis NFT is an NFT associated with a specific creator. Under the applicable creator staking-pool rules, Genesis NFT holders may be participants involved in reward distribution; this gives them a role distinct from that of stakers who only stake LIKE into the pool. The existence of a Genesis NFT does not automatically mean that its holder may receive any fixed amount of LIKE or all pool proceeds. The holder's actual rights must satisfy conditions related to that creator, that staking pool, and the applicable rules.

Question 5

Is LIKE related to voting?

Accepted Answer

Only1's terms mention on-chain voting based on staking weight, so voting weight is related to staking status. A distinction should be made here between “holding LIKE” and “LIKE that has been staked and forms weight that can be counted”: this statement alone does not establish that an ordinary wallet balance necessarily creates voting power directly on a one-to-one basis. The terms describe the basis for weighting but do not provide, in the currently available materials, specific voting matters, a weight formula, a snapshot time, or proposal-execution rules. Therefore, a staked amount alone cannot be used to calculate exact influence in a particular vote.

Question 6

What factors can affect staking-pool rewards?

Accepted Answer

Staking-pool rewards are not determined solely and fixedly by the amount staked. The terms list pool rules and the level of interaction activity between creators and fans as influencing factors: pool rules determine how rewards are distributed among participants, while interaction conditions affect the formation or distribution outcome of rewards. Accordingly, the staking amount may be part of staking weight, but it cannot replace all conditions. Without the applicable rules, participation status, and interaction circumstances of a specific creator pool, a percentage cannot be described as a reward rate that an individual is guaranteed to receive.

Question 7

What is the difference between purchasing an NFT and paying an unlock fee?

Accepted Answer

The difference between purchasing an NFT and paying an unlock fee is the result obtained. Purchasing an NFT is acquiring that NFT; paying an unlock fee is for viewing the relevant content. The former concerns acquisition of an NFT, while the latter concerns content access, and they should not be treated as the same transaction merely because both relate to content from the same creator. The terms also link unlock fees to distribution to creators and NFT holders. Therefore, a paid unlocker receives an access path, while the fee is distributed according to the applicable mechanism; whether to purchase an NFT should be determined by whether the user wishes to acquire that NFT, rather than by treating the unlock fee as the NFT's purchase price.

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