UPFI Network (UPS), the fractional-algorithmic protocol, ranks third among the week’s biggest gainers. The token gained 11,223 spots to move from last week’s position of 12,530 to rank 1,307 this week. We will be reviewing the UPFI Network in this article to enlighten readers about why the 18Digits community took an interest in this token and voted it up to third on the biggest gainers chart.
Note: The information provided here is provided solely for general information purposes. The information is not intended to be professional or financial advice. Kindly do your own research (DYOR) before investing.
About UPFI Network
UPFI Network is a unique fractional-algorithmic stablecoin protocol built on the Solana mainnet. The ultimate purpose of the UPFI Protocol is to replace fixed-supply digital assets with stable, highly scalable, decentralized algorithmic money. By providing a two token system, UPFI and UPS, this stablecoin protocol could help address the risks and limits of previous stablecoins. UPFI is a stable coin partially backed by collateral (USDC and UPS share token) and partially algorithmically stabilized with a price guaranteed to be pegged at one dollar. On the other hand, UPS is also a non-stable and utility token that serves as a volatility-absorbing asset and increases the protocol’s scaling capability by requiring less external collateral (USDC) to grow.
What is the project trying to achieve?
The UPFI Network intends to eliminate fixed-supply digital assets by bridging the gap between digital currencies and real-world applications at near-zero transaction costs.
UPFI Network UPS Token
The UPFI share token (UPS) is a non-stable token that holds the system’s governance rights and all surplus collateral. It has a maximum quantity of 500,000,000 UPS and a circulating supply that fluctuates owing to UPS being burned anytime it is minted into a UPFI token and UPS being minted when UPFI tokens are redeemed. LBank is currently the most active exchange with the UPS/USDT trading pair if you want to trade UPFI Network (UPS).
What Makes UPFI Network Unique?
The UPFI Network’s top features:
- Minting: Mint and redeem stablecoins with collateral; also use Token Curated Registry (TCR) and ECR for protocol.
- Governance: Created to give holders a say on the platform while rewarding them for holding UPS tokens for a long time.
- Farm: Users can farm UPS by placing their LP tokens on the UPFI Network and providing liquidity.
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