What is UPFI Network (UPS)?
UPFI is a stablecoin issuance protocol on Solana developed on the principle of generating remarkably scalable, unsecured, ultra-secure on-chain assets in accordance to a sharding algorithm. UPFI will help following generation payment networks on blockchain.
The UPFI protocol stablecoin is backed by two kinds of collateral (USDC and UPS) and has a price tag equalization algorithm to hold the stablecoin really worth $ one.
UPFI aims to change fixed provide digital assets by bridging the gap involving digital currency and true planet applications with close to zero transaction expenses.
How does the UPFI network function?
To mint the UPFI stablecoin, end users need to promise USDC and UPS. The USDC will then be locked into the protocol, though the UPS tokens will be burned. When a consumer deposits the UPFI stablecoin back into the protocol to get the promise, the protocol returns the USDC and coins the UPS token to the consumer.
Additionally, UPFI also has a mechanism to stability the price tag of UPFI stablecoins so that one stablecoin is really worth $ one. When the stablecoin is> $ one, end users can mint additional stablecoins for $ one and promote them on the open industry. When stablecoins <$ 1, users can buy stablecoins on the open market, then deposit to the protocol to get $ 1 back.
Administration
To participate in project governance, users must enter UPS tokens into the protocol to receive xUP tokens, then use xUP tokens to participate in project governance activities.
Agricultural production
In addition to issuing stablecoins, users can also participate in yield farming to receive UPS on UPFI protocol by providing liquidity of SOL-UPS, UPS-UPFI, UPFI-UPS token pairs.
Basic information about the UPS token
- Token name: UPFI network
- Ticker: UPS
- Blockchain: Solana
- Token standard: SPL-20
- To contract: Updating
- Token type: Government
- Total offer:
- Circulating supply: Updating
Token allocation
Public sale: first%
Private sale: 13%
Sale of seeds: 2%
Marketing and partner activities: ten%
Treasure: 4%
Team / Founder: ten%
Ecosystem and liquidity: 60%
Token release schedule
Updating
What is the UPS Token for?
Administration.
Collateral.
Stakeout.
UPS Token Storage Wallet
Users can store UPS tokens on popular Solana wallets such as Sollet Wallet, Coin98 Wallet, Phantom Wallet, Solflare.
How to earn and own UPS tokens
Join the agricultural production.
Where to buy and sell UPS tokens?
Updating
Roadmap
Q4 2021
- Open Beta-mainnet
- Public sale (IDO launch, website, CEX list, …)
- TGE
- Start Mainnet
- Loan protocol
- Staking to participate in project management
2022
- Synthetic token
- Mining stablecoin
Investors
What is the future of UPFI network project, should I invest in UPS tokens or not?
UPFI is a stablecoin issuance protocol that combines two algorithm-based price guarantee and price balancing mechanisms. Through this article, you must have somehow grasped the basic information about the project to make your investment decisions. Coinlive is not responsible for any of your investment decisions. I wish you success and earn a lot from this potential market.
