UpRock Token ($UPT) Fair Distribution Roadmap

🚀 Building a Fair and Secure Ecosystem

Dear UpRock Community,

1. Fair Bandwidth Phase - April 26th:

In this initial phase, our primary objective is to establish a fair rewards distribution system. We aim to ensure that all users connected to the same network receive a proportionate share of rewards, with distribution based on individual device scores. This approach discourages users from unfairly inflating their earnings by connecting excessive devices.

Upcoming Phases: Stay tuned for further updates & dates and detailed information on each phase in this blog post.

2. Fair Bonus System - April 29th:

Registration Bonus: New users who set their usernames and profile pictures are greeted with 2 UPT, in addition to enjoying a 10% bonus on their earnings throughout their first week.

Referral Rewards: Earn a 10x kickback for every new referral's earnings during their first week. Afterward, enjoy a 1% kickback indefinitely.

WENsday: Every Wednesday for 24 hours (UTC timezone):

1. Receive a 2% kickback from your referrals' earnings.
2. Earn WEN tokens equivalent to 10 times the referral kickback amount.
3. Example: If your referrals make 100 UPT on a WENsday, you will receive 2 UPT as a kickback and 20 WEN tokens.

3. Device Scoring - May 5th:

We will be implementing a sophisticated scoring system to ensure fairness and authenticity within the UpRock ecosystem. This phase introduces a mechanism that assigns scores to individual devices based on various factors, such as hardware specifications and usage patterns.

Starting today, the rewards generated by emulation/cloning will be reduced to 0 over 7 days. By 5th of May, any emulator still running will see their rate calculated as 0 UPT/h.

By discouraging the use of simulated environments and fraudulent practices, we aim to promote a level playing field where genuine users are rewarded for their legitimate contributions to the network's growth and stability

4. Fixed Monthly Supply - May 7th:

In the Fixed Monthly Supply phase, miners will collectively receive 4.2 million UPT tokens per month from a total supply of 500 million UPT tokens distributed over a 10-year period post-Token Generation Event (TGE). This distribution follows a deflationary model, with a monthly 16% decrease based on users' device scores. Over time, this results in a gradual reduction in the number of tokens distributed, incentivizing early participation and investment while preserving token value. Approximately 250 million tokens will be awarded to miners over the decade from half of the community pool. As the usage of UpRock services grows, additional tokens may be awarded to miners, ensuring a sustainable reward mechanism for network participants.

5. GEO Coverage - May 9th:

Miners who venture into previously uncovered geographic locations will receive additional incentives, encouraging expansion into new territories and fostering global participation in the UpRock ecosystem.

6. Proof of Prestige - May 12th:

During the Proof of Prestige Phase, devices must undergo a verification process to ensure authenticity before participating in mining. This phase, known as "Proof of Prestige," validates only genuine devices for network contribution and rewards. By requiring devices to earn a "prestige" score, we enhance network integrity and prevent fraudulent activities, maintaining security and reliability.

7. Ongoing Purge - before TGE:

The purpose of the purge is to protect the community by weeding out malicious bots and bad actors. If we allow bad actors to unfairly farm a ton of tokens, it means less token rewards for real and honest users. While we progress through our Fair Distribution Roadmap, we want to highlight that the Purge Phase is currently underway.

Our objective is to eliminate fraudulent accounts and their associated devices from the system, confiscating any accumulated rewards. This critical phase involves a thorough audit of all accounts and devices. Accounts using fake information, such as disposable emails, or identified as operating multiple fraudulent accounts, will be purged. This cleansing ensures a level playing field and restores integrity to the token distribution process, fostering trust and fairness within the community.

8. Token Generation Event:

The Token Generation Event (TGE) marks the official launch of the UPT token, heralding a new era of opportunity within the UpRock ecosystem. This pivotal moment represents the culmination of our roadmap, offering verified users the chance to benefit from their contributions.

Post-TGE, the UPT token becomes a valuable asset, facilitating transactions and rewarding active participants.

9. Rewards for UpRock Voters:

Following the TGE, users will be able to connect their voting wallet to view their reward allocation. All rewards are locked and become available for claiming three days after the TGE. These rewards include:

This phase underscores our commitment to rewarding community participation and fostering a vibrant and engaged ecosystem. As we embark on this journey together, let's celebrate the TGE and the opportunities it brings for us all.

Summary

To establish economic stability and ensure the long-term sustainability of the UpRock ecosystem, we have meticulously crafted this roadmap. Our goal is to create a robust, fair, and secure system where genuine users and contributors can fully benefit from the rewards system. Through a phased approach, we are dedicated to safeguarding our network from exploitation and fostering a thriving, equitable ecosystem.

As we navigate through each phase of this journey together, stay tuned for further updates. We will provide additional details and dates for each phase within this post, ensuring transparency and keeping you informed every step of the way.

Let's continue to progress together and build the future of UpRock tokenization.

Cheers!

The UpRock Crew