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What is the utility of the $UPS token? How do the 2 tokens co-exist?
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.
Security & User Interface are the Most Important Aspect that Users see on a platform. How has UPFI Network worked on this? Is Platform suitable for Newbies in the crypto field?
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.
What makes upfi stablecoin different from existing competitors on Solana, why would I use it over the current biggest players?
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.
Why is the max supply of UPS displayed on CMC, CGC and Solscan only more than 500M ?
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.
Last modified 2d ago
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Contents
What is the utility of the $UPS token? How do the 2 tokens co-exist?
Security & User Interface are the Most Important Aspect that Users see on a platform. How has UPFI Network worked on this? Is Platform suitable for Newbies in the crypto field?
What makes upfi stablecoin different from existing competitors on Solana, why would I use it over the current biggest players?
Why is the max supply of UPS displayed on CMC, CGC and Solscan only more than 500M ?