Uptrennd started with 1,000,000,000 tokens.
Currently, every time someone receives an upvote on Uptrennd, they earn at least one token.
This clearly can’t go on forever, as the ecosystem would run out of tokens.
We’ve implemented a system that rewards early adopters of Uptrennd and keeps the ecosystem scalable for years to come.
The Uptrennd Halvening is an event where the 1UP token becomes twice as difficult to earn, very similarily to the Bitcoin halvening.
In Bitcoin, every four year, the amount of BTC distributed into the supply daily is cut in half.
Based on simple supply/demand economics, when less BTC are produced, and the demand stays equal,
this has created a trend where BTC has become more valuable, as seen in the image below.
So when does the First Uptrennd Halvening take place?
Bitcoins halvening takes place at a certain block number, a fairly fixed point in time. Uptrennd does something a bit different.
Rather than a fixed point in time, the halvening occurs when 100 Million tokens have entered the ecosystem, known as the “circulating supply”. For simplicity, anything that is not in “cold storage”, is considered in circulating supply.
So how many are in the circulating supply right now?
Here’s how to check:
Take the “Total Supply” and subtract the amount in our two cold storage wallets (the two with the largest holdings).
EDIT: We are now over 100M tokens and The First Halvening is LIVE!
The power of one upvote will drop from 1 token to 0.45 tokens, as seen below.
For more info on how the tokenomics work, you can check out our post from mid-2019 here.
Q: Does this mean I will be earning less per upvote?
A:Not necessarily. Our token price has doubled in the last 30 days in anticipation for the halvening. This means, you will earn the exact same amount as thirty days ago
Q: Does this change my earned points, my level, or how much I can withdraw?
A: Nope! Only the points you earn in the future will be affected! The points you alread have earned are locked and safe!
Q: After the halvening, will my balance be lower? Or will only new upvotes add less to my balance?
A: Anything you earned already is yours to keep! All upvotes moving forwards will earn 55% less 1UP.
Q: Will there be more halvening events?
Yep! Every time 100M tokens are introduced into circulation, the rewards drop approximately 50%
Q: Will the newsfeed now have a bunch of decimals on it?
A: Nope! 1 upvote = 1 upvote on the newsfeed, the only place this affects is in your account balance.
Q: How does the halvening affect the deflationary nature of the 1UP token?
It doesn’t. 30% of all level-up points and 30% of all boosted post points will still be burned. Fun fact: Uptrennd has already burned nearly Five Million tokens!
Q: So how much do I earn now? How is 2UP Tuesday affected?
Check out this chart to find out!
It seems the token ecosystem is responding well already!
A platform designed to redistribute wealth from corporations to individuals. A site that empowers content creators to thrive through creating digital content.