UPS tokens are used to mint UPFI, to use in our governance for lending, farming, and staking. UPS tokens are used to mint UPFI, to use in our governance, for lending, farming, and staking. As only part of the UPFI's volatility is absorbed by UPS, the rest is collateralized with the highly stable stablecoin USDC. In addition, as UPFI demand increases, decrease the ratio of USDC collateral to mint UPFI and increase the rate of systems supported by UPS.
We have many years of experience in developing end-user products, so they are very focused on enhancing the best user experience on our products.
Regarding security, we take advantage of the processing speed and low transaction fees on Solana, which makes the price balancing process more efficient than other blockchains. In addition, the UPFI protocol is working closely with the ChainLink & Pyth Network Oracle development team to provide the most secure oracle solution for users on the UPFI Network. In addition, we also plan to do a careful audit in the near future.
Yes, a great question. We take the advantages of existing stablecoins and overcome their disadvantages by combining the use of fractional-algorithmic, over-collateralized assets.
More than 500M tokens are the amount that has been minted to reward users when participating in farming and staking, bonding, lending... and other products later. Currently, UPS only mint from Stable Protocol when users Redeem UPFI, so it will not mint all 1B.