upfi-network logo download PNG or SVG

Information about upfi-network

UPFI Network, a stablecoin protocol built on the Solana blockchain, has successfully raised over $2 million in funding through its Seed Round, Private Round, and Public sale. This fundraising has attracted prestigious investors, backers, and community partners from around the world. With a strong social media following of over 110,000 followers, UPFI Network has achieved a significant milestone by winning the first prize at the Solana Season Hackathon in Vietnam. The protocol aims to provide a unique fractional-algorithmic stablecoin solution that offers stability, scalability, and decentralization. By introducing two tokens, UPFI and UPS, the protocol aims to mitigate the risks and limitations typically associated with stablecoins. UPFI is a stablecoin that is partially backed by collateral (USDC and UPS share token) and stabilized algorithmically, with its price guaranteed to be pegged at $1. On the other hand, UPS serves as a non-stable utility token that absorbs volatility and enhances the protocol's scalability by reducing the reliance on external collateral (USDC) for growth.

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