USWAP：重塑挖矿，颠覆传统！

Satoshi Nakamoto's emergence brought about a disruptive decentralized concept to the world. Building upon this concept, Vitalik Buterin gladly laid the foundation for "Ethereum." As a result, we have seen a plethora of decentralized applications spring up just like mushrooms after rain. Since the booming DeFi summer last year, the entire market has been captivated by the wealth effect of DeFi. Currently, a decentralized exchange called UPSWAP from HECO is opening up new possibilities. It is well known that the HECO ecosystem, with its strong technical, traffic, and ecological resources from Huobi Group, is one of the most popular DeFi competition chains. With support for high-performance transactions and smart contract compatibility, UPSWAP achieves lower transaction costs, lower latency, and higher transaction bursts. Leveraging the strong HECO ecosystem as its foundation, UPSWAP is creating a new trading model, revolutionizing the current DeFi market landscape, and will become a new force of competitiveness in the DeFi field in the future.

1. A Meteoric Rise: The Birth of the Dark Horse DEX As we all know, DeFi heated up the entire summer of 2020, and this trend is continuing into the summer of 2021. The birth of UPSWAP is like a meteor falling from the sky, igniting the scorching DeFi soil! So, what is UPSWAP? It is a DEX deployed on HECO! It is also the first DEX that fully subsidizes transaction fees for liquidity pools! Users can freely exchange value on UPSWAP, deposit and withdraw freely, without any registration, identity verification, or withdrawal restrictions. UPSWAP is committed to providing users with higher-yielding decentralized value exchange services. The birth of UPSWAP signifies the rise of DEX 2.0. Its technological model, mining model, and DAO governance model are ushering in a new era for DEX.

2. Three Core Technological Support Technology is the core support for UPSWAP's presence in the market. The future development of DEX is diversified, with derivatives and cross-chain being the main directions. UPSWAP, as the first burning mining DEX, has core technology solutions such as oracle solutions, aggregated trading, and cross-chain. It aims to create a perfect trading environment for core platform users.

- Multiple oracles provide price credibility to liquidity pools: Drawing on the decentralized oracle network solution of Chainlink, UPSWAP connects smart contracts with real-world data. By integrating multiple oracles and collecting data from various sources, UPSWAP provides price credibility to liquidity pools.

- Aggregated trading aggregates high-quality assets for higher user returns: UPSWAP integrates with various DEX service providers to aggregate liquidity and provide users with optimized prices and improved yield. In addition to serving as a price comparison tool and providing price information from different platforms, the UPSWAP trading aggregator also runs its own pricing strategy, directly recommending the optimal trading path to users.

- Cross-chain bridge connects multiple public chains for seamless swapping: Based on Fusion DCRM technology, UPSWAP builds cross-chain bridges on different chains, allowing users to securely transfer tokens or data between different chains. The UPSWAP Cross-Chain Bridge, based on secure multi-party computation (SMPC) and threshold signature scheme (TSS) technology, consists of a distributed control right management (DCRM) node network and a cross-chain bridge smart contract. It is an innovative, secure, decentralized cross-chain solution. Through the cross-chain bridge, UPSWAP can provide decentralized asset custody, achieve cross-chain asset mapping, enable user usage of mapped assets, extract mapped assets, and achieve one-click cross-chain swaps and other key functions!

3. Burning Mining: Igniting the Future UPSWAP is known as a burning mining DEX because its platform token UBT is generated through burning mining. The UBT burning mining test model has been running steadily for 6 months, attracting a large number of users to use the DEX through a reasonable incentive model. This further deepens the depth of the UPSWAP liquidity pool to support a wide range of value exchanges on UPSWAP.

UBT has three innovative mechanisms:

- The first mechanism is the U-pricing model with turbo burning: Adjusting mining output based on the liquidity pool price ensures that price fluctuations do not affect actual earnings. Burning equals destruction, and the burning rate of 1 UBT is equivalent to the computing power of 3 UBT. Turbo burning (circulating reinvestment) leads to scarcity and circulation. The fewer UBT available for circulation, the higher its value.

- The second mechanism is burn protection and decreasing release: Burn protection sets the burn protection price at 80% of the average price of the liquidity pool over the past seven days. To prevent the burn protection price from deviating too much from the liquidity pool price, the burn protection architecture only allows increases. When the liquidity pool price of UBT is lower than the burn protection price, for every 1% decrease in the liquidity pool price, an additional 10% of UBT sold from the liquidity pool will be destroyed. The decreasing release model combined with burn protection maximizes earnings and ensures the project's stability and longevity.

- The third mechanism is multiple income sources and one-click harvesting: Mining income: Low investment, high returns, with a monthly return rate of 45%. Added value income: Less circulation, high demand, with a stable increase in price. One-click harvesting: Advanced miners can accumulate up to 30 days to receive earnings.

4. Economic Model UBT has an unlimited supply. Its total supply for the first five years is 500 million UBT, with 97% of the mining output as rewards for miners, 2% for the team, and 1% for investors. This demonstrates that the platform allocates mining rewards to miners to a large extent, adhering to the concept of burning mining DEX.

In addition, the reduction mechanism for UBT decreases the cycle by 236 seconds every 24 hours, reducing by 50% in the first year, 33% in the second year, 25% in the third year, and so on. The design of the reduction mechanism proves that as the output of UBT becomes scarcer, it will lead to deflation in circulation and drive up the price of UBT.

5. A Promising Future for UPSWAP UPSWAP is currently in an era that urgently needs innovative changes in DeFi and is fully prepared to accelerate. As a new generation DEX, with top-tier operation and technical teams, UPSWAP will shine in the DeFi space. We will soon witness a series of moves by UPSWAP. As a true decentralized exchange, UPSWAP is exploring its own path of development. With its advantages in aggregated trading, cross-chain, and DAO community, coupled with its innovative burning mining model, we have every reason to believe that UPSWAP will become an important infrastructure in the DeFi ecosystem.