UpSocial Decentralized Exchange (DEX) is a cryptocurrency exchange that allows direct peer-to-peer cryptocurrency transactions to take place online securely and without an intermediary. Creators can list the social tokens, and receive funds in exchange of them on DEX.
Token Use Cases
UpSocial’s native token will be used in various ways on the platform.
Every time users carry out micro and macro transactions on UpSocial Network, the platform will charge a small commission.
Social tokens provide value to the creator’s content. They can be used for crowdfunding via native UpSocial IDO Launchpad.
UpSocial Name Service. Just like ENS, users can book their name address with custom alpha-numeric words instead of using custom 36-word addresses.
Native USN token will be used for payouts. It can be exchanged on our DEX or investing in platform by staking mechanism.
UpSocial decentralized exchange will use USN tokens natively. To do swaps and locking, USN tokens will be required for DEX.
Users can stake their tokens and obtain consistent APY yields in return. Staking will give guaranteed allocation in new IDO projects.
Creation of smart contracts and custom code implementation on blockchain. For utility and applications that exist outside the UpSocial ecosystem.
Minting Non Fungible tokens (NFTs) will use USN token for fees. Distribution of NFTs , taking part in auctions and contests will also involve use of USN tokens.
The sponsored campaigns and decentralized advertisements will use native USN tokens. Advertisers need to provide USN tokens for campaigns.
At UpSocial, we are using 1024 bit encryption everywhere. With the architecture, that can be changed to 4096 bits dynamically when required. From a security perspective, a 256-bit secret key is industry standard. 97% of the internet runs on 256 bit & 128-bit encryption. Our core architecture is built for security. It is built to stand against brute force attacks and Sybil attack. The code is audited by renowned agency and our in house cybersecurity team will push security updates contantly.
Scalability & Interoperability
UpSocial Network will be created on a custom blockchain that’s scalable and reliable. It will have quantum proof security architecture and will have good interoperability. As our blockchain will be developed keeping in view the Dapps & DeFi features, the transactions are faster & the gas fee is lower, helping UpSocial scale user base & community members.
UpSocial users don’t have to worry about the network or transaction speed as UpSocial will be migrated to a personalized blockchain which is custom built for scalability. Our core architecture helps create a scalable ecosystem for millions of users.
Gas and transaction fees
This infrastructure will help to reduce the gas fee & transaction time furthermore. We will be using instant routing protocols to reduce the latency of network.
Custom blockchain will be built on ground zero network to provide interoperability and onboard new users easily.