Upfi Network — the first stablecoin protocol to develop principles for creating highly scalable, stable, fractional-algorithmic and clear funding on the network on Solana.
Description of the Upfi Network site
Upfi Network uses a stablecoin that is partially backed and algorithmically stabilized. Minting requires only a portion of the capital denominated in other stable assets. This generates both natural demand and the acquisition of the value of a volatile asset.
The UPFI protocol proposes to solve problems with an algorithmic stablecoin that is partially backed and algorithmically stabilized. UPFI is also more capital efficient and extremely stable than cryptocurrency-backed alternatives as it requires only a fraction of the capital that is denominated in other stable assets to be minted.
Site advantages:
| 1. | Community driven, with a focus on a highly autonomous algorithmic approach that does not require active administration. |
| 2. | The currency is softly pegged to the US dollar. The governance token, UPFI Shares (UPS), generates fees, seigniorage income and excess collateral value. |
| 3. | UPFI uses Chainlink and Pyth oracles. |
UPFI holders will earn interest on the funding rate and interest rate, making UPFI also an attractive store of value. By implementing a floating collateral ratio, UPFI not only maintains the peg in the most efficient way, but also generates value for UPFI holders and generates income for its holder community across the entire decentralized finance ecosystem.
Project tokenomics
The Token Sale distribution includes all tokens, allocated for initial, private and public sale. The tokens, reserved for the initial offer, will be released on a linear schedule to all users of the sale. The ecosystem and liquidity distribution is specifically reserved to meet the needs of future platform integration, including the provision of liquidity and other rewards.
Advisory tokens are allocated for strategic work, done for legal, technical and business purposes to advance the adoption of the protocol. All tokens are subject to a lockup and vesting period, starting 6 months after TGE. The team distribution is reserved as compensation for the current and future UPFI team, including team members and founders. All Team Tokens are subject to a lockup and vesting period, starting 6 months after TGE.