UPcoin, is designed to only run for a short 6weeks. This short timeframe concept idea is designed that all IPO funds will be spent to purchase cloud mining equipment via HashNest (antminer s4/s5) to produce profits daily, which will be used to buy [XUP] straight off the order books, and then be burned. The coins will be burned daily from day 1 all the way till day 42, in addition to this burn, every week one antminer s4/s5 will be sold off, and the funds will be used to buy straight off the the sell order books. This idea is branched off the idea of a drastically decreasing supply over a very short period of time. After the 6 weeks, the coin will not be abandoned, we will collaborate with our team and the developers and pick a brand new/fresh approach to the success of the coin, and the rest of its lifespan.
based on rough calculations, the supply should reduce by 15% weekly. The way this has been devised is to obviously be greatly beneficial to early investors.
All burnt coins will be documented and posted in the thread and visible to all.
UPcoin (XUP) Features
Technology Specifics for UPcoin (XUP)
UPcoin (XUP) uses the X13 algorithm and relies on the PoS proof type.