Up, Up and Away with UPFI [Updated]
TL;DR
To Buy UpFI, the First Stablecoin Protocol on Solana:
1. Stake OXS into the NEW Staking pool.
2. head over to the OXS pool page to contribute on the 9th November 2021, 1400UTC onwards.
For full details, read on:
Resources
Website: https://upfi.network/
Twitter: https://twitter.com/upfi_network
Telegram: https://t.me/UPFInetworkchat
Medium: https://upfinetwork.medium.com/
Discord: https://discord.com/invite/nHMDdyAggx
UPFI currently aims to be the first stablecoin protocol on Solana to create a:
- highly scalable
- non-custodial
- extremely stable
- fractional-algorithmic
Financing option that supports the next-generation payment networks on the blockchain. UPFI currently aims to replace fixed-supply digital assets by bridging the gap between digital currencies and real-world applications with near zero transaction costs.
The Price Stability Mechanism
The UPFI token’s price stability is supported by multiple mechanisms. The main pillar of the price stability comes from the possibility of redeeming UPFI token for approximately one U.S. Dollar worth of tokens. Another mechanism to support the price peg is the arbitrage opportunity offered by the minting and redeeming functions.
If the price of the UPFI token is less than one U.S. Dollar, then anyone can purchase it on the open market and redeem it for approximately one USD worth of value.
If the price of the UPFI token is more than one U.S. Dollar, then anyone can mint it with the protocol for approximately one USD worth of value and sell it on the open market.
For more detailed information on the mechanism, minting and pricing oracle, read here.
Tokenomics
Total Supply:
- Public Sale: 1%
- Private Sale: 13%
- Seed Sale: 2%
- Marketing and Partnership: 10%
- Treasury: 4%
- Team: 10%
- Ecosystem and Liquidity: 60%
Vesting Schedule: 40% TGE and linearly in 3 month
IDO price: 0.03$
Listing is currently scheduled to be on the 10th November, at approximately 15:30 UTC
To find out more about how to participate in the IDO on the day itself, read here. Using a Smart Staking approach to Oxbull.Tech’s SOLANA IDO model, The Public Sale would be categorized into 3 groups:
Tier-3 Gleam Link: https://gleam.io/wFdbS/oxs-whitelist-upfi
OXS Staking Pool: https://staking-oxs.oxbull.tech/
IMPORTANT NOTES: Qualification of Tier-1 and 2 will require STAKING. In the event where an Investor who has not Staked but has the required number of holdings SHALL NOT be eligible for the aforementioned tiers.
Each qualified address will only be eligible for ONE transaction. Meaning if an address is qualified for tier 1, they will not be qualified for tier 2.
TIER-4: COMMUNITY WHITELIST 1,000 slots
⏰ Time and date: 13:30 UTC 10th November, 2021
🏠 Venue: https://www.oxbull.tech/#/solana-pool
💵 Max allocation for each winner: $80
There are only max 375 slots for this tier, whereas there are 1000 whitelist winners.
Please follow Official Telegram Group for Whitelist results.
Disclaimer:
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Information is accurate at time of writing and can be subject to change.
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