The First Uptrennd Halvening is Now LIVE!


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:
Go here
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.



FAQ:


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!





Happy Halvening!
It seems the token ecosystem is responding well already!



COMMENT

20

Tosyne2much Adekola
01 May

This is a  beautiful initiative 

I have always thought of we having a halving for 1UP, so it will become difficult to mine and this will give the token more value. Now, the halving is going to reduce the inflation and this will have a positive effect, and we all will watch how the price would move up rapidly

However, with 55% halving, it will get harder and 1UP will become more scarce which is the beginning and the end of seeing people sell a large amount of 1UP in the market 

If you are wise enough, you should be very active from now till the halving will take place and you should try to hoard as many 1UP as you can 

Long live Uptrennd ✌️

65 REPLY

15

Sanni Horlas
30 Apr

Hmmm I think this would make a lot of sense!👍

21 REPLY

10

Peter Faith
30 Apr

Wow your brain is calculating in the right manner of course yes so this will lead uptrennd to be that city of treasure we are dreaming about

35 REPLY

17

Ndianabasi Tom
30 Apr

So, you are suggesting we cease levelling up for the time being?

25 REPLY

14

StephenNevets Art
30 Apr

You clearly are not new to this game of crypto man. I just got serious and I'm glad Jeff is giving us an heads up right now.... I have been having a feeling for a few days that something will be done soon to decrease the amount of tokens in circulation and I'm not so shocked seeing this

All hands on deck now - double your hustle. 

That's the way to go about it now

23 REPLY

21

Eurogee Chukwuka
30 Apr

It can only get better! 

20 REPLY

18

Lois Stark
01 May

This is positive, to save growth, but the problem persists, the 1% continues to accumulate the wealth of growth. and 99% struggle to do so, We have a problem with, We have a problem with whales.

13 REPLY

1

Chukwuebuka Jeremiah
01 May

Great 👍 move i must say

12 REPLY

2

Owodunni Aremu
02 May

Nice post very motivate

12 REPLY

1

Gul Khan
28 May

you are fantastic

3 REPLY

22

preview not available Osato Jegede
30 Apr

The beauty about the Uptrennd is more expressly seen in the tokenomics and invariably  the deflationary character of the 1up tokens. I'm should all be excited to experience the first Uptrennd halving, definitely with it in view, the 1up will continually maintain the deflationary character that will impact the market value of the 1up. Hopefully with more adoption, we can all rejoices the more as more and more halving will be experienced. 

38 REPLY

18

Dtwo Oladimeji
30 Apr

This is very amazing. One of the reasons I love Uptrennd is the fact that it is backed by a unique tokenomy model which help to sustain the price of the 1UP token. I really like this idea as it will help give scarcity to the token and build the value of 1Up token. This is amazing. 

31 REPLY

17

Ndianabasi Tom
30 Apr

1,000,000,000 circulating supply of 1 UP was quite high. Halvening it will reduce its circulating supply which will lead to a little scarcity therefor increasing the token's price.

13 REPLY

20

preview not available Kris JS
30 Apr

The halvening won't reduce its circulating supply, it will reduce the rate of new tokens entering the market. 

17 REPLY

26

preview not available Lucas S
30 Apr

Yes, big difference there

7 REPLY

17

Ndianabasi Tom
30 Apr

Very much noted, Kris.

Thank you for the clarification

11 REPLY

21

EngrSamest .
30 Apr

As its clearly sighted and experience, halving always welcome in an increase in the price action of a commodity (assets) the more we experience halving the more the security and the more the value. This is a welcome idea. Bravo to uptrennd team.

28 REPLY

17

Ejimadu Onyedikachi
30 Apr

I think I understand a little of what you saying..

This means that instead of 1 token For an upvote, it has become 0.45 per upvote hope I'm correct.

27 REPLY

17

Ndianabasi Tom
30 Apr

You are right!

55% less

5 REPLY

20

preview not available Kris JS
30 Apr

This has always been the plan and has to be done in order to protect the longevity of the platform, otherwise the tokens would simply run out and Uptrennd would likely die. 

1 REPLY

COMMUNITY DETAILS

Uptrennd

18351

Subscriber

1

Online

A platform designed to redistribute wealth from corporations to individuals. A site that empowers content creators to thrive through creating digital content.

RELATED COMMUNITIES

Bitcoin Cash

23811 subscribers

Litecoin

23326 subscribers

Cryptocurrency Mining

22374 subscribers

Trading & TA

20044 subscribers

Zcash

16509 subscribers

Uptrennd Optimization

13295 subscribers

© 2020 UpTrennd.com