Upsorber — Unique Tezos Token

Intro

On June 28th, 2018 Tezos was born, a cryptocurrency coin that is known for its proof-of-stake mechanism. XTZ which the Tezos native coin can be used for on-chain governance voting. Recently, Tezos gained massive popularity because of NFT, why? Well as I said, Tezos uses a PoS mechanism that provides low transaction fees and also reduces lots of carbon gas footprints.

Thanks to its community, Tezos ecosystem grows steadily over the years. Lots of new tokens started to born on Tezos blockchain, some fail and some survive, but that’s how this world works. “If someone cannot deliver what they promise, he will lose the trust from the community.”.

Overview

Probably 2 weeks ago, there was hype in the Telegram community about Upsorber. At first I thought it was just “yet another token” but little did I know… So Yesterday, I visited the Upsorber website and also joined the Discord server. And eventually I got interested in Upsorber because of its unique use case. Please, let me guide you to explain Upsorber in general.

The main purpose of $UP is to become an alternative store of value in the Tezos ecosystem. The game-theory (math) behind $UP incentivies using the token to store value and to delay gratification.

Upsorber or $UP is the first token on Tezos blockchain that is designed to increase in value over time. “Wait, increase in value over time? R U Joking?” No. Upsorber are not types of token that you can buy and hope 1 week later you have millions of dollar worth of money from just buying $1 worth of $UP token because of random whale buying the token. Here’s the explanation from my little brain :

You actually have to Upsorb your $UP token which basically staking your token, from there the circulating supply and APY will decrease but the price will slowly increase and it will attract new people to Upsorb their token. If this process is repeated all the time I’m sure 100% the price will increase drastically. Upsorber is a part of Tezos community, if Tezos ecosystem grow then Upsorber will grow too.

Doubling is analogous to Bitcoins halvening. Every 2 years the minimum stake length doubles. At year 1–2 the minimum stake length will be 30 days, at year 2–4 60 days, etc. After 12 years the min. stake length is > the max stake length. Nobody can upsorb anymore and the $UP inflation will stop.

Because $UP token not listed yet on coin price-tracking website such as Coinmarketcap and Coingecko you have to see the charts here https://analytics.quipuswap.com/tokens/KT1TgmD7kXQzofpuc9VbTRMdZCS2e6JDuTtc

How to Upsorb token?

1. First you have to own $UP token, if you dont you can buy the token on Quipuswap. https://quipuswap.com/swap/tez-KT1TgmD7kXQzofpuc9VbTRMdZCS2e6JDuTtc
2. After that, go to the Upsorber website. https://upsorber.com/
3. Connect using your preferred Tezos wallet.
4. Adjust how long and how much you want to stake your $UP token. Remember, the more longer you Upsorb the more you will get rewarded.
5. Click Upsorb to finally stake your token.

You cannot unlock the staked token anytime you want, its lock and will be unlocked after the Upsorb ends.

Do you know what’s missing? Yes, roadmap and whitepaper. According to David (Main Developer) whitepaper still in works which explain mathematical behind the $UP token and David personally not a big fan of large roadmaps, and it often used to sell “dreams” to people. The key to a successful cryptocurrency project is honesty between developer and community.

Closing

And that’s it frens, I hope you got the information you needed. If you got any question, please join Upsorber social media and feel free to ask.

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Febrian#6539