About to make its initial exchange listing, Universal Protocol Token (UPT) will serve as a mega-utility token, offering holders attractive interest rates when lending and borrowing, lower exchange fees, cashback and discounts on trading.
Also Read: Universal Protocol Alliance to List Mega-Utility Token on Bitcoin.com Exchange
Mega-Utility Token to Debut Wednesday
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. The group has identified that many users need innovative solutions to move digital assets seamlessly across different wallets, exchanges, and networks. The alliance members include Bittrex, Brave, Certik, Omisego, Blockchain at Berkeley, Uphold, and Cred.
Universal Protocol Token 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 including UPUSD, UPEUR, and UPBTC. Universal Protocol Token (UPT) will debut Nov. 20, 2019 on Bitcoin.com Exchange as an initial exchange listing, and will be available for trading by non-U.S. persons only.
“The Universal Protocol Token is the solution for businesses, consumers and governments large and small require solutions to digitally maneuver assets anywhere and anytime,” said JP Thieriot, co-founder of the UP Alliance and Uphold. “UPT will unlock tremendous value in the ecosystem and set the stage for even more innovative solutions in the marketplace.”
Alliance Members to Provide Special Offers
Each Alliance member will provide a critical component to the ecosystem, and provide different services and discounts, including:
Cred: Holders of UPT will earn interest on UPT and all UP tokens through Cred Earn. Holders of UPT or any UP token will also be able to collateralize UPT or any UP token to receive fiat loans. Cred is a global lending and borrowing platform serving customers in 183 countries with over $300 million of lending capital.
Uphold: Holders of UPT will receive additional digital currency back with the launch of the Uphold debit card (up to an additional 1%) and will receive discounts on all trades performed on Uphold. Founded in 2014, Uphold has over 2 million users around the world and has traded over $5.4 billion on its digital money platform and reserve ledger.
Blockchain at Berkeley: Holders of UPT and any UP token can purchase goods, services and tickets for blockchain events at reduced prices. Blockchain at Berkeley is an academic organization at the University of California, Berkeley, that provides educational resources, consultancy, and R&D to some of the biggest blockchain projects in the world.
Omisego: Holders of UPT will be able to pay fees using Omisego’s payment settlement technology. Omisego is a leading layer 2 scalability solution for Ethereum supporting any type of tokenized asset including UPT.
Certik: Holders of UPT and any UP token will benefit from reduced code auditing fees when payment is made with UP tokens. Certik is a pioneer in blockchain security and auditing with over $5B in assets secured, founded by Yale Department Chair of Computer Science Zhong Shao and Columbia University Assistant Professor Ronghui Gu.
Bitcoin.com Exchange was launched in September as an easy-to-use trading platform that offers world-class security and a powerful trading engine. The venue has a wide variety of trading pairs like litecoin (LTC), ripple (XRP), tron (TRX), zcash (ZEC) and denominated markets with base currencies such as tether (USDT), bitcoin cash (BCH), and bitcoin core (BTC). The platform employs institutional-grade encryption, two-factor authentication (2FA) and IP whitelisting to keep user accounts secure at all times. It was recently announced that instant cryptocurrency exchange Changelly will use digital asset rates from the trading platform which will ensure better prices for users and help increase the reach of all SLP tokens that are exclusively listed on Bitcoin.com Exchange.
What do you think about the benefits of the mega utility token UPT? Share your thoughts in the comments section below.
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