Ethereum
$355.20 0.38%
ETH · 41w

UP Alliance Members to Lock Mega-Utility Tokens for a Year

UP Alliance Members to Lock Mega-Utility Tokens for a Year

Universal Protocol Token is a mega-utility token offering attractive interest rates when lending and borrowing, lower exchange fees, cashback and discounts on trading. The large holders of UPT in the UP Alliance have gotten together and committed to lock their tokens and not sell any UPT for at least a year.

Also Read: Mega-Utility Token UPT Will Offer Interest and Discounts on Trading

UP Alliance Members to Lock UPT Tokens

The Universal Protocol Alliance is a group of like-minded cryptocurrency companies and blockchain organizations that want to connect different digital assets in a single network including Bittrex, Certik, Omisego, Blockchain at Berkeley, Uphold, and Cred. The Universal Protocol Token (UPT) is the native token of the Universal Protocol Platform, and is the underlying utility token for the Universal Protocol ecosystem. Consumers can use it to make transactions with the additional tokens and stablecoins that Universal Protocol has released.

The large UPT holders in the UP Alliance have now gotten together and committed to lock their tokens for a certain period of time. The group says that members and investors are united in their decision to hold UPT for the good of the project — as this will allow the Alliance the runway it needs to operationalize its ambitious project with merchants, government officials, developers and customers of UPT. In total, 82.5% of all UPT is already locked for a period of over three years, vesting monthly. In addition, all UP Alliance members and investors representing over 96% of all UPT holdings have agreed to hold UPT for period of at least one year. The Alliance is also offering all UPT holders up to 4% interest on the tokens.

Mike Arrington, CEO of Arrington XRP Capital, stated: “As an investor in UPT and in some of the compan...

Continue on news.bitcoin.com
Recent news
ETH +0.38% · btcethereum.com · 4h

Ethereum still not ready for DeFi, say some critics

Ethereum needs to fix its problems. As DeFi projects flock to Ethereum, experts warn the network is not yet ready to support the frenzy.Martin Froehler, a mathematician, former hedge fund manager, and...
ETH +0.38% · yieldfarmer.substack.com · 13h

DeFi Pulse Farmer #8

Catch up on a new week in DeFi as we recap DeFi TVL ATH, tBTC, Optimism, the Farm of the week, and the Conservative Farmer.