# Who is UP? Two Defi Architects, who have been immersed in Defi and involved in multiple Protocols and communities, came together with a similar vision and goal to realize a Unified Defi Ecosystem. Thus, The Unified Principle Finance (UP FInance) Team was conceived and founded. The UP team looks to achieve the vision above by building the ecosystem around a protocol that provides a solid tokenized foundation at its core layer, the UP Protocol. This foundational token ($UP) is 100% backed and offers real yield opportunities without risking price crashes and manipulations inherent in all of Defi and crypto markets/protocols. Just look at today's landscape with tokens dropping 10-80% within a day. One day you are living well, things are looking good, and you are happy with your portfolio. The next day all that hard work and investment strategy is wiped away with one market move. In truth, the crypto markets in total are still very heavily pegged to the performance and direction of BTC (Bitcoin). Until other crypto assets diverge from this trend, even Defi tokens will be handcuffed to the performance of this one asset. The UP Team also looks to have this unified ecosystem be totally divergent from BTC and other Blue Chip tokens with the creation of real yield generating opportunities for our community. The ultimate vision will be to create an ecosystem encompassing many trusted projects/protocols and providing services and solutions to facilitate integration with Traditional Finance and mainstream markets. Defi is still somewhat niche in comparison and we look to help bring services to change that and help create mass adoption. For all these reasons we chose our name. The end goal again is to unify Defi/crypto and the web3 landscape with traditional finance and real world...but that is the future. Let's talk about the now with our first protocol and the foundational backbone of our ecosystem, the Up Protocol. Obviously named after our organization but with a duality in meaning as described within this Litepaper/Whitepaper. # What’s UP? UP is a protocol developed by the UP team, aptly named dually for the name of our organization and to the direction of the tokens price action being only and always UP - created for all markets bear and bull alike. The backbone of the protocol, the $UP Token, is a perpetually appreciating asset 100% backed (initially by all stable coin treasury, but depending on market conditions and community decisions may be backed by other blue chip assets like BTC and ETH overtime). Imagine an asset that is a haven like gold during a bear market like today while providing a great opportunity to earn Real Yield with no price depreciation, but actually only price appreciation!! All buys increase the price, but all sells do as well. Confusing at first glance, how can sells increase the price? Well, the fundamentals of the UP protocol enable this with two very simple core mechanisms, the Mint and Redeem functions. # Where is UP? UP will launch on BNB Chain - please join our discord for more details and stay tuned for dApp and website launch announcements. Please only follow official links provided by the #Official Link channel in our discord. [**https://discord.gg/hgtCuA2kMt**](https://discord.gg/hgtCuA2kMt) # Token Mechanics - Mint & Redeem $UP can only ever be minted through the dApp with BUSD. Initially the only way to acquire $UP will be through the dApp. Eventually liquidity will be added to the open market to purchase $UP through DEX’s and other protocols. All mints charge a variable fee (.1-5%). Fee will vary with market conditions and during promotional periods. Initial fee on minting will be 4%. Redemption can be considered selling $UP in an OTC (Over the Counter) direct exchange between the user and the protocol with no price impact beyond the Redemption Fee. All redemptions charge a variable fee (.1-5%) Fee will vary with market conditions and during promotional periods.\ Initial fee on redemption will be 5% ## **MINT** * $UP can only ever be minted through the dApp with accepted assets like USDC and BUSD * Initially the only way to acquire $UP will be through minting on the dApp, eventually liquidity will be added to the open market to purchase $UP through DEX’s and other protocols * All mints charge a variable fee (0-5%) * 5% Cap * Fee will vary with market conditions and during promotional periods * Initial fee on minting will be 4% * 0% fee promotional periods do not increase price but offer incentives for supply increase at opportune times * 100% of purchase will go into backing treasury ## **REDEEM** * Redemption can be considered selling $UP in an OTC (Over the Counter) direct exchange between the user and the protocol with no price impact beyond the redemption fee * All redemptions charge a variable fee (0-5%) * 5% Cap * Fee will vary with market conditions and during promotional periods * Initial fee on redemption will be 5% * 0% fee promotional periods do not increase price on redemption but will be instated at opportune times to give our community time to take profit without fee and to reduce supply at opportune times * ```
``` # Price Action Explanation The price of $UP is simply $BUSD value of the backing treasury divided by circulating supply. An easy way to understand how the price can go up both on sells and buys (redemptions and mints) we can simply think of the treasury always having a net positive gain on each transaction. For a sell, more tokens are burnt than paid out for a net gain on treasury vs supply. For a buy, more $BUSD is allocated to the treasury than tokens minted to circulation for a net gain as well. The net gain comes from the fees adding more to the backing treasury compared to the amount minted/paid out. Here are two rudimentary examples, one a mint/buy and one a redemption/sell, with simple and approximate math to follow, and the conditions below: ## BUY Transaction **Circulating Supply 1000 $UP** **Treasury 1000 $BUSD** **Treasury/Supply = 1000 $BUSD / 1000 $UP so 1 $UP = 1 $BUSD** **User A buys 1000 $BUSD worth of $UP tokens at 4% minting fee** * **1000 $BUSD is exchange for (1000 - 1000 \* .04) $UP** * **User receives 960 $UP** * **Treasury receives 1000 BUSD** **New Circulating Supply is 1960 $UP** **Treasury 2000 $BUSD** **New Token Price from Transaction is now 2000 $BUSD / 1960 $UP so 1 $UP = 1.02 $BUSD** * **Total appreciation of 2% for all the holders**
## SELL Transaction **Circulating Supply 1000 $UP** **Treasury 1000 $BUSD** **Price as above 1 $UP = 1 $BUSD** **User B sells 500 $UP at a redemption fee of 5%** * **500 $UP Redeemed and exchanged for $BUSD** * **Protocol Burns all 500 $UP and removes them from circulation** * **User B receives (500 - 500 \* .05) $BUSD** * **User B receives a redemption amount of 475 $BUSD** **Treasury now has 1000 - 475 $BUSD = 525 $BUSD** **The circulating supply is now 500 $UP** * **New Price is 525 $BUSD / 500 $UP so 1 $UP = 1.05 $BUSD**
***\*Note that these calculations are just examples to explain the principle that both buys and sells positively affect the $UP price, which is true but the math is a bit more complex and actual percentage increases will be different in practice. Price action follows a curve and is not linear as depicted above.*** ***\*\*Please see in the Mint and Redeem sections later in the Whitepaper to understand how UP allocates percentages of the fees to support the ecosystem and the actual breakdown. The above is an example only to explain the concept and does not account for fee allocations in play within the protocol.*** $UP price appreciation is dependent on several factors most important of which is adoption and volume of mints and redemptions. \ $UP will always be 100% backed and no token in circulation will be minted without the possibility of redemption for the price minus the fee. Since each interaction, whether minting or redeeming, increases the price early adopters and long term holders will benefit the most from a pure token mechanic point of view. Now that the base concept of the protocol has been summarized, please continue on to find out why you would participate in UP and what the protocol offers in terms of real yield with a stable appreciating asset. The Up Protocol has a lot to offer users in its roadmap.
# The UP Difference UP is more than just its token. Everything that the UP team develops will drive volume and be used to create more utility for $UP. UP is not a singular protocol with no future but the first stone laid as the building block to create the financial ecosystem that will offer unique and real yield earning potential. The macro economic outlook is dire and not looking to pivot anytime soon. Defi needs a protocol that offers real earning potential from a token that is 100% backed and not susceptible to major price dumps hurting the protocol and the community alike.
Our community will see just how much our own team believes in the protocol from the protocol treasuries funds used to mint and hold primarily $UP when not using the funds for investments. Being 100% backed by stables and always redeemable for stables (as long as the stablecoins themselves remain that way) offers a unique and needed asset class to our community base, where users can actually earn on their stable coin holdings in multiple ways and strategies rather than risk them elsewhere. UP will engage with the community on investment strategies and offer additional rewards and incentives via staking and farming opportunities within the UP ecosystem and partner ecosystems!! (Details will be documented, discussed, and announced as opportunities arise) UP will provide these strategies in various ways and are proud to announce the initial investment strategies in this Whitepaper,(future strategies will be presented to the community and NFT holders to choose and the team at UP will constantly look for opportunities from partners and all of Defi and anywhere really) ## **Warfi Warbot Partnership** UP is proud to invest in WarFi’s battle tested Warbots with proceeds from the NFT Mint used to invest in Warfi's very successful Warbots. Initial investment is dependent on NFT raise. Example of potential Warbot returns broken down below (Team is still in discussion on the distributions and whether or not 100% will be used to purchase $UP, the below is provided as an example only and official announcements will be made. The definitive guarantee is 10% profit from investments distributed to oNFT stakers): * 50% of the Warbot profit will be allocated to the protocol treasury for future development, additional investments (including minting $UP), and expenses * 50% will be used to mint $UP * 60% of the minted $UP will be allocated to the future staking pools * Once pools are live the rewards will be funded in reward contracts * 20% (Equivalent of 10% of total) will be allocated to the NFT Staking pool * 20% will be allocated to the protocol Treasury * Warfi has also announced that Warbots will have the option to be paid in $UP tokens! * Earn additional yield on your Warbot profits! # Roadmap $UP will be the backbone and fuel to start the journey to realize the vision of the UP ecosystem. We are excited to check off each piece of the roadmap and provide our community with an opportunity to join us on the voyage and give the potential to earn some Real and True Yield in the market to not only get better in the next bull run, but also not be dependent on the market like other protocols. Our roadmap will be a living construct with more and more additions as we time goes one: ## **Phase I Q4 2022 - Q1 2023** * [x] **Discord and Twitter Creation** * [x] **Community Building** * [x] **Up Protocol (UP) NFT Whitelist and Mint** * [x] **Ownershp NFT (oNFT) Mint** * Own a piece of UP and entire future ecosystem forever * NFT will earn 10% of all Mint and Redemption fees in perpetuity paid out in $UP. NFT will earn additional revenue sharing allocations not provided to anyone else * Only NFT owners can participate in presale * NFT must be staked to get paid * [x] **UP token presale for NFT Holders** * [x] **UP website and dApp launch Mint and Redemption go live** * [x] **UP Protocol Launch** * [x] **Trading Bot Partnership with WarFi** * Portion of NFT Mint will be used to purchase Warbots * [ ] **Create LP for free market trading and arbitrage opportunities to drive volume transactions** * [ ] **Create Staking Reward contract for oNFT holders and enable staking rewards** * [x] **NFT selling enabled and listing on marketplaces** * [ ] **Research and engage community on other investment strategies for treasury funds revenue from investments treasury will be used to buy $UP** ## **Phase II Q1-Q4 2023** * [ ] **Perpetually Appreciating Bluechip Offerings why buy and hold or risk IL or staking in random protocols for yield when you can earn more tokens without purchasing more for holding one token fully backed!!** * Initial Offerings * upBTC - 100% BTC backed appreciating asset * upBNB - 100% BNB backed appreciating asset * upETH - 100% ETH backed appreciating asset * More details coming soon * [ ] **Concept Dex development** * More details coming soon * [ ] **Partnerships to add liquidity pairs in partner tokens paired with $UP** * [ ] **Permission less Launchpad for new projects and tokens** * Utilizing $UP seamless integration for presale and liquidity adds * [ ] **Multichain feature development and rollout** * Working with cross chain messaging providers to allow seamless integration with our mainchain ## **Phase III and beyond TBD** * [ ] **Pursuit of Traditional real world finance partnerships** * Leveraging these partnerships Implementing FIAT on and offramp opportunities and possibilities utilizing $UP tokens * Very nature of $UP lends itself to this being 100% backed perpetually appreciating asset * Huge void in defi allowing these types of direct integrations * [ ] **More to Come** # Presale and Launch Details
UP will start its community building phase and quickly transition to marketing the presale ownership mint of Ownership NFTs, we like to call oNFT. \ Each NFT will earn protocol generated revenue and future ecosystem revenue in perpetuity. (Further NFT details [here](/onft)) To participate in the presale users must be lucky enough to purchase an oNFT on mint. Once the oNFT mint has closed out we will host a small presale to further benefit NFT owners with free tokens at the lowest possible price of 1 $BUSD per token. \ \*Note presale participation is pre dApp mechanics so purchases during the presale period do not have fees and no price appreciation mechanics. ## **Presale Breakdown:** Only oNFT holders can participate. 10000 oNFT’s will be minted - any unsold oNFTs will be burnt (UP will allocate some NFTs for promotional offerings/giveaways) Each oNFT allows for a purchase amount of the NFT mint value of 200 $BUSD multiplied by a Tier multiplier as shown in the table below:
TieroNFT's PurchasedMultiplier
01-41
15-91.25
210-191.5
320-292
430-993
5100+5
* **Examples** * If User holds 1 NFT that user can buy 200 maximum $UP presale - Tier 1 (1 $UP/1 $BUSD). * If user holds 100 NFTs that user can buy maximum of 100,000 $UP during presale (100 NFTs \* 5 (Multiplier) \* 200) - Tier 5. ### **The ROI on launch by the multiplier of the Tier!** The UP 10% price increase guarantee on launch equates to 10% x Tier Multiplier ROI in token appreciation per amount of NFT investment (if full presale allocation purchased by oNFT Holder)\ \ **Example Below:** * Tier 3 oNFT user buys 20 oNFTs. * Purchase price is 4000 $BUSD (200 per NFT). * Tier Multiplier allows for 2x token purchase. * Full allotment of token needs to be purchased for full ROI realization. * Purchase 4000 \* 2 = 8000 $UP Tokens. * On Launch token price is guaranteed to be 1.10 $BUSD. * User has 8800 $BUSD worth of UP for 800 $BUSD profit. * Unrealized $800 or 20% profit on the NFT Purchase while holding a token that will only continue to increase in price. * Understandably you might consider the full investment of 12000 $BUSD - but $UP is the same as holding $BUSD only with appreciation, so it can be left out and not considered as part of the equation since $UP is always backed and redeemable for $BUSD. * If user is only Tier 0 and exits, the $4000 worth of NFTs would only be equal to 10% unrealized profit. * Users can feel free to realize and sell but the first to do will be most affected by the 5% fee which will reduce profit. * Comparatively Tier 5 would have a 50% ROI which comes with a larger cost of 100+ NFTs as well as the cost of the full allotment of tokens in presale, but for the most reward on launch price. 100% of presale will go to backing the treasury. Once presale is complete after 48 hours our dApp and Mint and Redeem contracts will Go Live in approximately 24 hours. Presale participants will be able to claim tokens on launch. UP Team will take funds from presale mint and launch the token as a thank you to the community at 10% increase from presale ensuring anyone who feels it necessary to sell their presale can do so in profit form their token purchase. * UP Team will inject enough funds into the backing treasury to increase the price to 1.10 $BUSD prior to Mint and Redeem Go Live. Fees on launch will be 4% for Mint and 5% for Redeem. # oNFT Join us in our Defi journey and benefit from a truly decentralized ecosystem where the community directly benefits from everything UP offers and services it provides. Ownership NFTs (oNFT) are just that, your stake in owning a piece of the revenue generated by everything UP develops. 10% of all revenue that is generated will be used to mint $UP and reward oNFT stakers. The minted $UP tokens will be transferred into a staking reward contract and be emitted at a time adjustable rate. We will keep the community apprised of the launch of the staking reward pool, and to state the obvious there will be no rewards until revenue has been generated to share so please pay attention to the announcements on going live for the NFT staking. *Note\* you must stake your NFT to get revenue share.* UP chose the NFT staking model for ease and efficiency's sake, allocating the revenue share to one contract that is emitted to stakers overtime simplifies the process and alleviates any errors with airdrops and such. NFT holders can transfer their NFTs and stake in new wallets or even sell them privately and eventually we will enable the sale on public marketplaces within phase I. UP cannot guarantee floor price of the NFT and we believe a free market is the best market. The market and demand will determine the price as will actual earnings. oNFTs from the presale round will grant ownership of UP revenue stream in perpetuity - no cap, no ROI multiple maximum, rewards will never stop!
## **Mint Details** * **Full Mint of 10000 NFTs** * **NFT Referral Sale** * **Partners To Be Announced** * **Instructions on how to participate in presale coming soon** * **Referral’s from partner protocol and partner influencers** * **10% Discount on Mint Price** * **200 $BUSD per NFT** * **180 $BUSD with Referral** * **Mint Date:** **December 5th to December 15th** * **NFTs not purchased or part of promotional offers and giveaways will be burnt** * **Promotional offers will include contest and event giveaways etc..** * **Pay attention to discord and Twitter announcements for information on promotions** * **Only way to access presale of $UP as well as future offerings like upBTC, upEth, upBNB and more so make sure to get one while you can it will be a one time mint for oNFT** * **Earn revenue and profit share without ever making another purchase simply staking your nft for all time** * **To further incentivize oNFT purchase and holders UP will gain exclusive allocations of additional protocol revenue and profit sharing during promotional and to be announced campaigns** ## **Staking oNFT** * **UP will provide more details on NFT staking, Go Live dates and any links via discord** * **Staking will be enabled in our dApp and on the staking page of our website** * **Must stake to earn revenue distributions** * **10% of all UP ecosystem revenue** # UP Token - Additional Details The UP token is 100% Backed and will always have a backing. There are no algorithmic or inflationary mechanisms, as every token in circulation must be bought (minted). $UP tokens will always be redeemable for the price listed, minus the redemption fee.
* When liquidity is added to DEX’s and or CEX’s you may end up paying more or having to sell for less than what is on the dApp and vice versa. The price in our dApp will be the true value of $UP, and that value will always be going up! * Once LP is added and trading enabled on the open market outside of our dApp, arbitrage opportunities may arise. * These will present unique strategies for traders and can be compared to something like UST and Luna arbitrage but without any of the pitfalls of a completely algorithmic backed token or even a stable coin whose price is pegged to a fiat currency. * Although $UP is backed by a stable coin, the $UP token itself is not pegged. This means arbitrage opportunities and inefficiencies in the market will offer traders the chance to try to profit from arbitrage across multiple DEX’s, further driving up the volume to mint and redeem $UP. Both Minting (i.e.Buying) and Redeeming (i.e. Selling) through the Mint and Redeem contracts will cause price appreciation. There will be no capped supply. * Supply is determined by mint and redemption volume. * Minting increases supply. * Redemption reduces supply. * Redeemed $UP tokens are burnt/destroyed and removed from circulation. Price = $BUSD in Treasury / Circulating Supply The supply will never be 0, as the protocol will always keep at least 1 token in the unforeseeable scenario that all tokens are redeemed (this cannot happen due to the protocol also owning tokens but stated here for transparency and clarity reasons) * Also stated in the event someone asks the "What If" question concerning the price of $UP if there is 0 supply (divide by 0 problems) * Since the protocol will be continuously minting $UP from revenue and fees, this information is provided as an FYI with how the contract is built, to always leave 1 token in the treasury at all times instead of burning full supply, as a failsafe. Initially the only way to acquire $UP will be through minting on the dApp and the only way to redeem/sell will be through the Redemption contract which in turn will burn all $UP being redeemed and issues back stable currency to the user. # How to Mint, Redeem & Stake ## **How to Mint** 1. Through the dApp on the UP protocol website navigate to the Mint section 2. Approve of the contract to allow $BUSD 3. Price of $UP will be displayed on the dApp 4. Fill in the amount of $BUSD or $UP tokens making sure you have enough $BUSD available for purchase 5. Click Mint and approve of the transaction and $UP will be delivered straight to your wallet minus the minting fee ## **How to Redeem** 1. Through the dApp on the UP protocol website navigate to the Redeem section 2. Approve of the contract to allow $UP 3. Price of $UP will be displayed on the dApp 4. Fill in the amount of $UP you wish to redeem 5. Click Redeem and approve of the transaction and $BUSD will be delivered straight to your wallet minus the redemption fee ## **How to Stake (Launching Soon - Liquidity Staking will launch with Dex Trading Enablement)** 1. Through the dApp navigate to the staking page 2. Approve the staking contract 3. Choose amount of $UP to stake and click Stake and approve the transaction 4. TVL will be listed from this you can calculate your share of the pool 5. Both Single and Liquidity Staking pools (Liquidity staking How-To Coming Soon) # Fee Mechanics and Revenue Allocations The primary revenue stream to start will be the fees generated from minting and redemptions. The UP protocol has multiple treasuries which will all be under multisig for safety of funds and to protect against any hacking exploits of a singular wallet through private key fishing attempts and the like. Here is a list of treasuries and purpose (treasury msig addresses will be provided) ### **Backing Treasury: 0xContractAddressTBD** * Backing of all $UP in $BUSD * Price determined from the amount of $BUSD in this treasury ### **Protocol Treasury:** [0x81248B12ee37EaaCbd2Ae67a14f02204902BA958](https://bscscan.com/address/0x81248B12ee37EaaCbd2Ae67a14f02204902BA958) * UP team funds * Marketing funds * Other Expenses * Dev Expenses, etc * Protocol $UP token investments ### **oNFT Treasury:** [0xce2730c60F5efb244C48BEee34a85F6BE33adEf5](https://bscscan.com/address/0xce2730c60F5efb244C48BEee34a85F6BE33adEf5) * All funds to allocate to oNFT rewards contract ### **Investment Treasury:** [**0**xe445568D8F230Fb6247e44a9Df7E5566ad5AC5f5](https://bscscan.com/address/0xe445568D8F230Fb6247e44a9Df7E5566ad5AC5f5) * Protocol owned Funds allocated for investments as in the purchase of warbots * Outgoing investments ### **Revenue Treasury:** [0xf8869f3F4fcAeEDEa252EB796616d901D8ec7FC6](https://bscscan.com/address/0xf8869f3F4fcAeEDEa252EB796616d901D8ec7FC6) * Treasury where revenue will be held, sent to and distributed from * Incoming profit and yield from investments * 10% sent to oNFT treasury monthly * $UP tokens minted and rewarde distributed to staking contract for disbursement * Portion sent back to investment treasury for additional investments and compounding * $UP Token purchases from revenue streams ## **Fee allocations by percentage and destination Treasury/contract** ### **Mint Fee (Initially 4%)** * 0.4% (10%) to oNFT Treasury * Transferred to replenish rewards staking contract monthly * 1.6% to Backing Treasury * 1% to Investment Treasury * As funds build up they will be allocated to different investment strategies and yield/profits distributed back * 1% to Protocol Treasury ### **Redemption Fee (Initially 5%)** * .5% (10%) to oNFT Treasury * Transferred to replenish rewards staking contract monthly * 2% to Backing Treasury * 1.25% to Investment Treasury * 1.25% to Protocol Treasury Fees are variable and subject to change given supply and market conditions but will never be above the 5% # UP as a Service (UAAS) UP Finance will deliver our Always UP model as a service to drive revenue into our ecosystem and also to help our partners to be Only and Always UP!! The UAAS offering will wrap partner tokens into an always up contract and mint the upPartner token utilizing their native tokens and even Partner-UP LP tokens as backing further providing use cases and incentives for UP and all partners' ecosystems. ## upEMP - The First UAAS Offering We are proud to announce our first UAAS with our close and amazing partners at EMP.Money!!! Please check the docs for [upEMP ](/up-as-a-service-uaas/upemp)and EMP's amazing ecosystem [here](https://emp.money). # upEMP $upEMP Token, is a perpetually appreciating asset 100% backed by EMP. Don't forget to visit our friends at [https://emp.money/](https://emp.money) and join their [Discord ](https://discord.com/invite/9wDDa26Z6e)or [Telegram](https://t.me/empmoney). $upEMP is exactly like our very own $UP only backed by $EMP. $upEMP will only and always go up in relation to the amount of $EMP each $upEMP is worth. The following page describes the mint and redeem mechanics and fees attached and provides a summary of our always up mechanics. $upEMP Contract: [0x69ffe1CEA85a766EdD97C3908Ba0AC60c986a9DB](https://bscscan.com/address/0x69ffe1cea85a766edd97c3908ba0ac60c986a9db) ## Token Mechanics - Mint & Redeem Minting $upEMP can only be done through the dApp with EMP. All mints charge an 8% mint fee. Redemption can be considered selling $upEMP in an OTC (Over the Counter) direct exchange between the user and the protocol with no price impact beyond the Redemption Fee. All redemptions charge an 8% redemption fee. Mint and Redeem upEMP ## Price Action Explanation The price of $upEMP is simply $EMP value of the backing treasury divided by circulating supply. An easy way to understand how the price can go up both on sells and buys (redemptions and mints) we can simply think of the treasury always having a net positive gain on each transaction. For a sell, more tokens are burnt than paid out for a net gain on treasury vs supply. For a buy, more $EMP is allocated to the treasury than tokens minted to circulation for a net gain as well. The net gain comes from the fees adding more to the backing treasury compared to the amount minted/paid out.
### upEMP Token - Additional Details The upEMP token is 100% Backed and will always have a backing. There are no algorithmic or inflationary mechanisms, as every token in circulation must be bought (minted). $upEMP tokens will always be redeemable for the price listed, minus the redemption fee. Both **Minting** (i.e.Buying) and **Redeeming** (i.e. Selling) through the Mint and Redeem contracts will cause price appreciation. There will be no capped supply. * Supply is determined by mint and redemption volume. * Minting increases supply. * Redemption reduces supply. * Redeemed $upEMP tokens are burnt/destroyed and removed from circulation. ### Fee Breakdowns **All mints charge an 8% mint fee**. 8% Broken down: -5.2% Collateralized backing of the token -2.1% Burn -0.7% Development Fee to UP Finance **All redemptions charge an** **8% redemption fee**. 8% Broken down: -5.2% Collateralized backing of the token -2.1% Burn -0.7% Development Fee to UP Finance **Transfer Fee:** There is an additional 0.25% transfer fee for all wallets. ### Presale & Launch Details Whitelist Allocations - December 23rd 8am EST-12pm EST (1pm-5pm UTC) Presale Start - December 23rd 1-2pm EST (6-7pm UTC) Presale End - December 24th 11pm EST (4am UTC) Public Launch December 25th 12:00am midnight EST (5am UTC) # Meet the Team
# Contracts and Audits ## $UP Token Contract: [0x5376A83112100Ff1567b2782e0d99c6d949b5509](https://bscscan.com/address/0x5376a83112100ff1567b2782e0d99c6d949b5509) ## oNFT Contract: [0xeF61B8734fcdA4Dbedd25B76b0FE45eEa2298dE6](https://bscscan.com/token/0xef61b8734fcda4dbedd25b76b0fe45eea2298de6) ## $UP Contract Audit ## Solidity Finance - # Disclaimer {% file src="/files/M2pfvWq43KUJR0luUWXy" %}