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upEMP

$upEMP Token, is a perpetually appreciating asset 100% backed by EMP.
Imagine an asset that provides 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 $upEMP enable this with two very simple core mechanisms, the Mint and Redeem functions.

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.

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.
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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)